title: Money management, mental health, and psychiatric disability: a recovery-oriented model for improving financial skills.
abstract: OBJECTIVE
  Although money management skills are essential for independent functioning in the community, when viewed from the framework of psychosocial rehabilitation, there have been few systematic models for teaching money management skills to consumers with psychiatric disabilities based on a recovery orientation.
  
  
  OBJECTIVE
  For those diagnosed with psychiatric disabilities, better money management has consistently been shown to be associated with superior quality of life, fewer hospitalizations, and greater self-efficacy. Consumers frequently indicate that learning how to budget and staying out of debt are among their top goals for recovery with mental illness. The current paper reviews the issues of money management and mental health among people with psychiatric disabilities and proposes a recovery-oriented approach to increasing money management skills to increase community functioning among consumers.
  
  
  METHODS
  Published literature, clinical cases, and financial literacy resources.
  
  
  CONCLUSIONS
  Improving money management can lead to a number of benefits by helping consumers with psychiatric disabilities: 1) gain more knowledge about disability benefits, 2) improve basic financial skills, and 3) reduce vulnerability to financial exploitation. Future work on incorporating this model into psychiatric rehabilitation programs would address skills consumers can use in living, working, and social environments in a way that enhances consumer choice and promotes recovery.
authors.affiliation: Forensic Psychiatry Program, Department of Psychiatry, UNC-Chapel Hill School of Medicine, Chapel Hill, NC 27599, USA. eric.elbogen@unc.edu
authors.forename: Eric B
authors.initials: EB
authors.lastname: Elbogen
authors.forename: Joshua
authors.initials: J
authors.lastname: Tiegreen
authors.forename: Colleen
authors.initials: C
authors.lastname: Vaughan
authors.forename: Daniel W
authors.initials: DW
authors.lastname: Bradford
mesh_terms: D000203:Activities of Daily Living / Q000523:psychology; D002017:Budgets; D006801:Humans; D001523:Mental Disorders / Q000191:economics* / Q000534:rehabilitation*; D008603:Mental Health; D008605:Mental Health Services; D028642:Persons with Psychiatric Disorders / Q000523:psychology*; D008960:Models, Psychological; D010353:Patient Education as Topic / Q000379:methods; D011788:Quality of Life / Q000523:psychology; D012050:Rehabilitation, Vocational / Q000379:methods*