Why Assets Matter

If you get public benefits, it is especially hard to think about building assets for the future, because you probably don't have much income. Furthermore, programs like Supplemental Security Income (SSI) and Food Assistance have resource limits that make it hard to save money. However, there are ways of building your assets, even if you are on public benefits and have low income.

Building your assets means accumulating wealth by saving money or investing it. Building assets can include putting money into the bank, buying stocks, putting money into a retirement account, or buying a home. It’s important to build your assets, because assets help you:

• Become financially secure and more independent
• Cope with unexpected expenses that may come up, and
• Achieve your goals, like paying for school, going on vacation, buying a computer, starting a business, or owning a home.

Try making saving a priority, even if it's hard for you.

Financial Literacy

"Financial literacy" means having a general understanding of money management, including things like budgeting and financial planning. Over time, financial literacy can help you do big things, like pay for college, buy a house, or have money during old age. It can also help you stay away from scams and be ready for unexpected expenses and difficult life events.

Financial literacy is especially important for people with disabilities, because they:

• Often have to spend more on everyday activities
• Often have high medical costs, and
• May get public benefits that have rules and restrictions about money and assets.