Success StoryFinancial Education during Substance Use Disorder Recovery



Financial Education during Substance Use Disorder Recovery

Author: Audrey Myers

Planning Unit: Taylor County CES

Major Program: Securing Financial Stability (general)

Plan of Work: Family, Community and Financial Stability

Outcome: Intermediate Outcome

The state of substance use disorders (SUDs) has become a public health crisis in the United States. Despite growing efforts to combat the opioid epidemic, people with SUDs continue to demonstrate notoriously high rates of relapse (roughly 40-60%) that are comparable to other chronic diseases such as diabetes, hypertension, and asthma. Research shows that individuals with SUDs are especially vulnerable to relapse during early stages of recovery.  This increased risk of relapse is due, in part, to financial stress (i.e., debt, poor credit, limited employment opportunities, etc.) that people in recovery from SUDs often encounter. Financial burden and stress can create a formidable barrier to long-term recovery. Addressing the financial barriers faced by people in SUD recovery has the potential to reduce financial stress and to strengthen relapse prevention programs. To address this need, the Taylor County Extension Office, along with several community partners, offered a 6 week financial education program at the Healing Place, to help individuals in SUD recovery improve their financial efficacy.  Emphasis was placed on understanding credit and credit scores, financial goal setting, and job skills.  25 consumers participated in the workshop. Statistically significant mean increases in knowledge gain were reported across all areas measured, including understanding consumer rights, the importance of monitoring credit score, identifying personal finance goals, and improving financial stability.   As a result of participating in the educational program,  of participants planned to examine their credit score annually, while plan to adopt to short, medium, and long term financial planning strategies, and  plan to apply practical living skills. Furthermore, of participants reported they will prepare for financial matters during periods of transition, and demonstrate the use of sound basic financial principles.In the words of one program participant: “I now have confidence in my financial stability.”  Another commented:  “I have learned how to fill out an application, and how to go about an interview.”







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