Budget management: less income, new priorities.

Unit 3
Wellbeing

Money management is linked to the factor of quality of Life (QoL): well-being (Schalock and Verdugo).

 

Content

This factor is formed by the following domains: Emotional wellbeing, physical wellbeing and material wellbeing.

 Two indicators of the material wellbeing domain are: financial situation and belongings.

The financial situation of elderly people and people with intellectual disabilities could be decrease , due to when they stop working, they could have less income and more expenses associated with health management, food, personal care...

Often, people with intellectual disabilities are not aware of their financial resources they have nor or the expenses they must assume in order to prioritize where and how they want to use their money.

Having  adequate financial resources  and be able to give an opinion and decide on how spend the money also contribute to improve the material wellbeing of people with intellectual disabilities.

When people get older, needs change and that means having to prioritize where to spend the money to face with these new needs  in order to maintain the quality of life.

Money management is a daily life  instrumental activity where most people con intellectual disability require more support. Therefore, we will focus on knowing the new needs /priorities that must be faced in the transition of getting older and the economic resources that each person has.

Along this unit, the objective is to learn how to use some tools that help ageing adults with intellectual disabilities how to identify the available money they have, the expenses they must bear, as well as to improve their the decision making process and their money management.  

Learning outcomes

Knowledge Skills

The needs of ageing adults with intellectual disabilities: Health, money management and activities of daily living.
  1. Identify the needs and priorities related to money management that can appear as a result of ageing.

Concept of income and types: fixed and variable.
  1. Identify the fix income that might be available weekly/monthly.
  2. Identify the occasional income that may be available at certain times of the year (birthday, important festivities...).
  3. Classify the income according to fix or occasional categories.

Concept of expenses /New expenses: fixed and variable
  1. Identify fix weekly/monthly expenses.
  2. Identify occasional weekly/monthly expenses.
  3. Identify new expenses.
  4. To be able to classify the manage fix/occasional expenses.

Money management
  1. To identify my salary.
  2. To learn how to reduce my expenses.
  3. To learn how to identify debts.
  4. To learn how to avoid debts.
  5. To learn how to save money.
  6. To identify different documents related with my income and expenses.
  7. To learn the right to decide how to spend/save money.

Types of supports helping to organize the financial documents
  1. To identify different types of supports that can help to organize the financial documents.

Other units

Unit 1
Wellbeing

Getting ready to adapt/change your home. Move to another place.

Unit 2
Wellbeing

Adapting equipment and assistive technology

Unit 4
Wellbeing

Optimizing health: exercises, healthy life style

Unit 5
Wellbeing

Being aware of the changes related to the ageing

Unit 6
Wellbeing

Safety: prevention of abuse