Independent Living Skills

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Independent Living Skills
Regional Center for Independent Living Youth
Transition / YIELD Program
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What do I need to know ahead of time?

• Where am I going to get the money to pay my
  bills?
• Income Wages, SSI, SSDI
• What services do I NEED for the apartment?
• Electricity/Gas
• Phone
• What additional services can I afford?
• Cable
• Internet
• Cell Phone

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Budgeting

• Ask yourself these questions when you start to
  create a budget for yourself.
• How much is my rent?
• How much are all my utilities?
• How much am I going to spend on groceries?
• What form of transportation am I going to use?
  How much is that going to cost?
• If you have a car, how much is insurance and
  maintenance for it every month?
• Are there medical expenses not covered by my
  insurance? (example prescriptions)

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Budget Example
Jane Doe earns 10 an hour and works 40 hours a
week. Her weekly income, after taxes, is
approximately 287. Jane's goal is to save enough
money to pay for a vacation at the end of the
year and to still have some extra money left over
in case of an emergency. Below is a sample of her
monthly budget, which shows her income, her
monthly expenses, and how much money she will be
saving.
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Jane Does Budget
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Easy Ways to Save Money

• Use Coupons
• Buy items in bulk or generic brands
• Bring your lunch to work/school
• Turn off the lights when you leave a room and
  turn the heat down when you are not home
• Find free entertainment at your local library
• Carpool with a trusted friend or family member

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What do I do with my money when I get it?

• When you get paid it usually comes in a check.
  There are a few different things that you can do
  with it
• Put it in a bank account
• Checking account
• Savings account
• Cash it and carry the cash with you

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Bank Accounts

• Why get a bank account?
• It is an easy way to keep your money safe
• Types
• Checking Account
• Use to write checks to pay your bills
• Withdrawal cash
• Keeps your money safe
• Savings Account
• Keeps your money safe
• Money gains interest every month at a set
  percentage

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How to Open a Bank Account

• Questions to ask before opening an account?
• Is the bank FDIC Insured? (Federal Deposit
  Insurance Corp.)
• Is it convenient? (close to home or work)
• Does it have convenient hours? (open late/open
  weekends)

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Checking Accounts

• Is there a monthly/yearly service fee?
• Is there a minimum balance? What happens if you
  go below that amount?
• Do you earn interest from the account?
• Are checks free or do you have to pay for them?
• What is the bounced check fee?
• Are there monthly statements sent out and are the
  copies of the cashed checks included in there?
• Can you do direct deposit of your paycheck?

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Savings Accounts

• Is there a monthly fee? How much?
• Is there a minimum balance? How much?
• What is the interest rate?
• Is there a limit on the number of transactions on
  the account?
• Are there monthly/quarterly statements sent?
• Do the accept direct deposit from employers for
  the savings account?

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Required Documents to bring with you

• Picture Identification (state issued)
• Proof of social security number
• Proof of residence
• Initial deposit that you will be putting in the
  account

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Cleaning

• When you get your own place you will be
  responsible for doing your own cleaning. Everyday
  things that should be done are
• Dishes
• Making your bed
• Picking up around the house where it is needed
• Weekly things include
• Taking out the trash
• Laundry
• Dusting
• Vacuuming

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Shopping

• You will also have to shop for yourself, for all
  the necessary things for everyday life including
• Groceries
• Personal hygiene items
• Clothing
• Cleaning supplies
• Any other items that would be needed
• Make sure that before you go to the store to do
  your shopping you always make a list and gather
  your coupons and follow it as closely as possible.

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Independent Living Skills Activity

• Calculating how much your bills are that you are
  given with your career choice and rent.
• Choices for Utilities and Extras
• Cable TV
• Basic Cable
• Extended Cable
• Telephone Service
• Basic Phone Service
• Service with 2 additional features
• Services with internet
• Internet
• Electric Only (for heating and lights)
• Electric and Gas (for heating and lights)

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Activity (continued)

• Groceries
• Cutting coupons
• Purchasing store brands
• Transportation
• Car (personal)
• Insurance
• Gas
• Maintenance
• Public (bus)

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Activity (continued)

• Take the income sheet that you were given and
  calculate your expenses.
• Fill in the Budget sheet as a guide

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Discussion Questions

• How much are you spending on rent alone?
• How much money do you have left over?
• Consider other things that you will need that you
  do not have bills for in front of you
• Personal items
• Prescriptions
• Clothing
• Dinner out or a movie
• Pets needs
• Will these things work into your budget?