All parents think about money and try to plan for their child’s future. They hope their child will have enough for a full life. Many hope that their children will learn how to use and save money as they grow up so they can do more on their own.
For parents of children with disabilities and special health care needs, it may be hard to see how to get there. But there are ways to teach your child about money. With your help, it’s something that your child can practice in a way that matches their abilities and goals.
On this page, we have some tips and tools for you. There is always more to learn about managing money. We hope that you find some ideas here to help you and your child get started.
Just like housing and careers, money can be an important part of the transition to adulthood. It can help your child build their independence. This means that they’re learning how to do more and more things on their own. They’ll need money for rent, insurance, groceries, or to buy something special. Managing money can also make your child feel proud.
No one is born knowing about money. Everyone has a lot to learn when using it. There’s math and social skills. There’s also planning ahead and making decisions. It takes time and practice. And everyone makes mistakes with money. Mistakes help us learn what to do differently next time. So it’s a good idea to start talking to your child early about money. Just like you start teaching them other life skills when they’re young. And keep talking about money as they practice using it.
Depending on your child’s abilities, here are some basics that you can teach them about:
Lessons and games are a great way to teach your child about money and practice for real life.
If your child is in school, they might have a chance to learn about money there. Many Texas public high schools offer a class about managing money (usually called “financial literacy”). And some teachers might give lessons on money math.
Talking about money goals in adult life is also an important topic for your child’s transition planning. And their transition out of public school. Career or job training programs might also include money lessons. These could be in school or in the community.
Here is a list of games and lessons that you and your child can try at home. Some of them are video-game style. Some are simple computer games. And some have worksheets or videos and things to read. Look for one that matches your child’s abilities and learning style.
There are also things you can try with your child at home or in the community. What you decide to do and where you start depends on your child’s abilities. That is something you know best of all.
To teach your child money basics, you can:
To help your child practice managing money at home, you can:
If your child has money or is ready to earn some at a job, you can:
When your child turns 18 year old, they might still want or need your help with their money. See our page on important legal tools. It includes ways that your child can save money and still keep their benefits.
If your child makes a mistake with money along the way, it’s a teaching moment. Stop and talk to them to be sure they understand what happened. If you need to, help them fix it. Or they can show you what they’ll do the next time. And give them reminders about money basics as much as needed.
There is a lot to think about with your child and money. But, it may be possible for your child to have more financial independence. Just like with everything else, you and your child can do this one step at a time. Remember that you are helping them build their life skills. And their confidence to work toward their goals.