Illinois ABLE Checks in with an Account Owner
Last year, IL ABLE account owner Tim had just finished college when he told his story about having his IL ABLE account. With a year of life and IL ABLE experience under his belt, we check back in with Tim this month to get an update:
IL ABLE: What have you been doing since college, Tim?
Tim: During my college career, I studied to become a Paraprofessional Educator in schools serving students with disabilities. After graduating from college, I got a job as a paraprofessional educator working with middle and high school students with disabilities. That job kept me very busy all year, and I learned a lot from my first year working in the schools.
IL ABLE: What kinds of things do you use your ABLE account for?
Tim: Right now, I use my IL ABLE checking account to pay rent, cover other expenses, and save money. I also have a checking account at another bank, where I need to keep my balance below $2,000 to protect my benefits. When that balance approaches the limit, I transfer money to my IL ABLE account. Money in my IL ABLE account does not count toward the $2,000 resource limit in the same way. I am also considering having my paycheck and other funds deposited directly into my IL ABLE account.
IL ABLE: Do you like having an ABLE account?
Tim: I like being the owner of my ABLE Account and managing my own money. My parents can view my statements and contact customer service when I need help, but so far, I think I’m doing a good job on my own. I’m continuing to learn about budgeting, managing my accounts, and protecting my benefits. Since graduating from college, I’ve become more independent and confident in handling my financial responsibilities.
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