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People with disabilities face significant barriers to financial stability. Low or unstable income and inadequate health insurance coverage complicate financial decisions.
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People with disabilities could derive various benefits from cash assistance, including overcoming barriers they or their caregivers face in entering the job market or their inability to work.
This report explores the complex challenges faced by people with disabilities in their daily financial lives, while identifying several opportunities to foster equity and financial well-being across the disability community. Key Findings.
Liquid assets such as cash and stocks are categorised under financial assets, while tangible assets are those that cannot be easily converted into cash such as jewellery, cars, furniture and homes (Sherraden, 1991; Sherraden et al., 2018).
- 10.1007/s40609-022-00250-x
- 2023
- Glob Soc Welf. 2023; 10(1): 29-38.
Why is Asset Development Important to Persons with Disabilities? Asset development helps create opportunities for greater independence and financial security. Access to assets allows greater choices in community participation and quality of life and supports inclusion and self-determination.
People with disabilities need the same financial knowledge and skills as those without disabilities – to manage money, create a spending plan, effectively use banks, reduce debt and use credit wisely.
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Worth and Liquid Asset Poverty. Households with adult members with a disability are almost 1.5X likelier to be liquid asset poor. The median net worth among households with adult members with a disability is $33,318 less than the national median. Students with a disability are 22% less likely to graduate high school in four years.
