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Youth in Transition Toolkit:


In(ter)dependent living


Money management

Does the youth manage a budget, bank accounts and credit cards?

Living independently requires having enough money to cover expenses. A person must be aware of their available funds and able to set a budget that covers everything from rent and cellphone bills to groceries and nights out. It's also essential to have the proper accounts and know how to handle them.

  • Awareness: Understand basic money management concepts like budgeting, banking and saving.

  • Exploration: Identify strengths, preferences, interests and needs related to money management.

  • Preparation: Practice money management skills at home, school and in the community.

  • Implementation: Use money management skills as independently as possible at home, school and in the community.

Workplace readiness training

Lightbulb LEARN

LEARN: Develop your knowledge

Learn how to support youth in managing their money.

To ensure financial literacy among the youth you support, review money management under Your Options. Basics include:

  • Identification of bills and coins
  • Ways to pay (cash, check, debit card, credit card, money order)
  • Budgeting
  • Bank accounts
  • Banking fees and service charges
  • Managing credit
  • Interest rates
  • Payroll and personal banking terminology
  • Paycheck terms
  • Taxes and tax forms
Resources DO

DO: Work with youth

Find resources to help youth manage their money.

  • Money smart for young people
    Download age-appropriate lesson plans and guides from the Federal Deposit Insurance Corporation (FDIC).
  • JumpStart clearinghouse 
    Check out links to a comprehensive collective of free online literacy tools from the JumpStart Coalition for Personal Financial Literacy.
  • Money tips
    Find tips on handling finances from Northwestern Mutual. Resources for professionals include lessons on budgeting, credit, financial decision making and the stock market.
  • 8 financial tips for young adults
    This resource from Investopedia teaches financial literacy basics such as budgeting and money management. The site offers similar material for tweens and younger children.
  • Cents and sensibility
    Download this guide to money management for people with disabilities from the Pennsylvania Assistive Technology Foundation. 
  • Youth and families
    Browse the youth and families section of Disability Benefits 101 for details on school, work, health care and saving for the future.
Federal Deposit Insurance Corporation (FDIC) webpage

The benefits lookup activity lets youth submit a simple request to verify their benefits, so they know which benefits they receive and how much they're worth. In My Vault, open the Benefits Planning Path and complete the Get a Benefits Lookup activity.  

This activity sends a request to the Minnesota Department of Human Services (DHS). When DHS receives the request, the benefits details are filled in and then returned to the youth's My Vault account within two business days.

Use this activity if youth aren't sure or have concerns about their benefits, when they're thinking about going to work, or if they need to know what would happen to their benefits if they take a specific job. Details from the benefits lookup automatically populate the DB101 estimator session: See how work and benefits work together.

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