The Importance of Financial Social Work

Abstract

The social work profession uses many approaches to fulfill its mission of enhancing human well-being for all people (NASW, 2017). Financial social work is one approach that deserves greater attention in the field. It promotes the economic well-being of everyone through financial capability (Sherraden & Huang, 2019). Economic injustices, such as extreme income inequality, poverty, homelessness, unaffordable housing, and predatory financial practices, reveal a tremendous need for financial social work today. Despite these realities, many social workers find themselves unprepared to assist their clients with their financial circumstances and difficulties. This paper makes a case for increasing the inclusion of this approach in social work practice and education through analyzing its implications on social work theory and ethical principles.