Financial Social Work

Beginning in the Progressive Era, social workers collaborated with home economists to improve financial wellbeing in US cities swelling with poor rural migrants and immigrants. Today, in the wake of the Recession, there is a resurgence of interest in financial social work (FSW) in an era where finances increasingly shape human wellbeing. With a focus on low-income and financially vulnerable communities, social workers provide financial guidance and education, and access to sound financial supports, services, and wealth building opportunities. Social science theory and key social work principles-including person-in-environment and the strengths perspective-guide FSW practice. Social workers use direct practice, organizational development, community organizing, policy advocacy, and research to help households achieve income sufficiency, financial capability, and asset building. Looking to the future, schools of social work are launching FSW curricula aimed at tackling growing economic challenges affecting financially vulnerable households and communities.