Advertisement

Financial Social Work

  • Margaret S. SherradenEmail author
  • Jodi Jacobson Frey
  • Julie Birkenmaier
Chapter

Abstract

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.

Keywords

Asset building Community organizing Financial capability Financial counseling Financial education Financial social work Financial vulnerability Person-in-environment perspective Policy practice Research 

Notes

Acknowledgements

We extend sincere appreciation to Wells Fargo Advisors, Arthur Vining Davis, and Woodside Foundation for their support. We would like to acknowledge many people who have contributed, directly or indirectly, to this chapter. Thanks to Cynthia Sanders, Paul Stuart, Michael Sherraden, and an anonymous reviewer for helpful insights and suggestions for this chapter. We are also grateful to many friends and social work colleagues who, over the years, have contributed to our thinking about financial social work, especially Mimi Abramovitz, Deborah Adams, David Ansong, Jeroo Billamoria, Christine Callahan, Gina Chowa, Peter Coser, Sally Hageman, Jin Huang, Lissa Johnson, David Lander, Don Linhorst, Vernon Loke, Gena McClendon, Emily McGinnis, Robin McKinney, Sudha Nair, Michael Rochelle, Edward Scanlon, Meg Schnabel, Jasmine Thomas, Meg Woodside, Eric Zegel, members of the Financial Social Work Scholar Network, and our students at the University of Missouri-St. Louis, University of Maryland-Baltimore, and Saint Louis University.

References

  1. Abramovitz, M., & Sherraden, M. S. (2015). Case to cause. In S. Roll (Ed.), Macro practice in social work: From learning to action for social justice. Report to the Special Commission to Advance Macro Practice in Social Work. Unpublished.Google Scholar
  2. Administration for Children and Families and CFED. (2015). Building financial capability: A planning guide for integrated services. Washington, DC: Administration for Children and Families. Retrieved from: https://www.acf.hhs.gov/sites/default/files/ocs/afi_resource_guide_building_financial_capability_final.pdf.Google Scholar
  3. Andrews, C. M., Darnell, J. S., McBride, T. D., & Gehlert, S. (2013). Social work and implementation of the Affordable Care Act. Health & Social Work, 38(2), 67–71.CrossRefGoogle Scholar
  4. Ansong, D., Chowa, A., & Sherraden, M. (2015). Household assets, academic expectations, and academic performance among Ghanaian junior high school students: Investigating mediation. Children and Youth Services Review, 50(March), 101–110.CrossRefGoogle Scholar
  5. Bandura, A. (1969). Principles of behavior modification. New York: Holt, Rinehart and Winston.Google Scholar
  6. Barr, M. (2009). Financial services, saving, and borrowing among low- and moderate-income households: Evidence from the Detroit Area Housing Financial Services Survey. In R. M. Blank & M. S. Barr (Eds.), Insufficient funds: Savings, assets, credit, and banking among low-income households (pp. 66–96). New York: Russell Sage.Google Scholar
  7. Beverly, S. G. (2002). What social workers need to know about the Earned Income Tax Credit. Social Work, 47(3), 259–266.PubMedCrossRefGoogle Scholar
  8. Beverly, S. G., Sherraden, M., Cramer, R., Shanks, T. W., Nam, Y., & Zhan, M. (2008). Determinants of asset holdings. In S. M. McKernan & M. Sherraden (Eds.), Asset building and low-income families (pp. 89–152). Washington, DC: Urban Institute Press.Google Scholar
  9. Birkenmaier, J. (2012). Promoting bank accounts to low-income households: Implications for social work practice. Journal of Community Practice, 20(4), 414–431.CrossRefGoogle Scholar
  10. Birkenmaier, J., Kennedy, T., Kunz, J., Sander, R., & Horwitz, S. (2013). The role of social work in financial capability: Shaping curricular approaches. In J. Birkenmaier, M. Sherraden, & J. Curley (Eds.), Financial capability and asset development: Research, education, policy, and practice (pp. 278–301). New York: Oxford University Press.CrossRefGoogle Scholar
  11. Birkenmaier, J., Sherraden, M. S., & Curley, J. (Eds.). (2013). Financial capability and asset development: Research, education, policy, and practice. New York: Oxford University Press.Google Scholar
  12. Board of Governors of the Federal Reserve (2013, March). Consumers and mobile financial services. Washington, DC: Author. Retrieved from http://www.federalreserve.gov/econresdata/consumers-and-mobile-financial-services-report-201303.pdf
  13. Bricker, J., Dettling, L. J., Henriques, A., Hsu, J. W., Moore, K. B., Sabelhaus, J., et al. (2014). Changes in U.S. Family Finances from 2010 to 2013: Evidence from the Survey of Consumer Finances. Federal Reserve Bulletin, 100(4), 1–41. Retrieved from http://www.federalreserve.gov/pubs/bulletin/2014/pdf/scf14.pdf.Google Scholar
  14. Burhouse, S., Homer, M., Osaki, Y., & Bachman, M. (2014). Assessing the economic inclusion potential of mobile financial services. Washington, DC: Federal Deposit Insurance Corporation. Retrieved from https://www.fdic.gov/consumers/community/mobile/Mobile-Financial-Services-and-Economic-Inclusion-04-23-2014revised.pdf.Google Scholar
  15. CFPB. (2013). Financial empowerment training for social services programs: A scan of community-based initiatives. Washington, DC: Consumer Financial Protection Bureau.Google Scholar
  16. CFPB. (2015a). Financial well-being: The goal of financial literacy. Washington, DC: Consumer Financial Protection Bureau. Retrieved from http://files.consumerfinance.gov/f/201501_cfpb_report_financial-well-being.pdf.Google Scholar
  17. CFPB (2015b). Your money, your goals: A financial empowerment toolkit for Social Services programs. Washington, DC: Consumer Financial Protection Bureau. Retrieved from http://files.consumerfinance.gov/f/201407_cfpb_your-money-your-goals_toolkit_english.pdf.
  18. Choi, N. G., Kulick, D. B., & Mayer, J. (1999). Financial exploitation of elders: Analysis of risk factors based on county adult protective services data. Journal of Elder Abuse & Neglect, 10(3/4), 39–62.CrossRefGoogle Scholar
  19. Clancy, M., Orszag, P., & Sherraden, M. (2004). College savings plans: A platform for inclusive saving policy? (CSD Perspective 04-25). St. Louis, MO: Washington University, Center for Social Development.Google Scholar
  20. Collins, J. M. (2016). Financial coaching. In J. J. Xiao (Ed.), Handbook of consumer finance research (2nd ed.). New York: Springer.Google Scholar
  21. Collins, J. M., Baker, D., & Gorey, R. (2007). Financial coaching: A new approach for asset building. Washington, DC: The Annie E. Casey Foundation. Retrieved from http://www.aecf.org.Google Scholar
  22. Collins, J. M., & Birkenmaier, J. M. (2013). Building the capacity of social workers to enhance financial capability. In J. M. Birkenmaier, M. S. Sherraden, & J. Curley (Eds.), Financial capability and asset development: Research, education, policy, and practice (pp. 302–322). New York: Oxford University Press.CrossRefGoogle Scholar
  23. Collins, J. M., & O’Rourke, C. M. (2012). The application of coaching techniques to financial issues. Journal of Financial Therapy, 3(2), 39–56.CrossRefGoogle Scholar
  24. Columbia School of Social Work (2014, July 25). Columbia and CSWE partner in building capacity to address financial stability of social work clients. New York: Author. Retrieved from http://socialwork.columbia.edu/news-events/columbia-and-cswe-partner-building-capacity-address-financial-stability-social-work-clients
  25. Corporation for Enterprise Development (CFED). (2014). Integrating financial capability: A toolkit for social service organizations. Washington, DC: Author.Google Scholar
  26. Cruce, A. (2001). A history of progressive-era school savings banking, 1870–1930 (CSD Working Paper 01-3). St. Louis, MO: Washington University, Center for Social Development.Google Scholar
  27. CSWE. (2008). Educational policy and accreditation standards. Alexandria, VA: Council on Social Work Education. Retrieved from http://www.cswe.org/Accreditation/2008EPASDescription.aspx.Google Scholar
  28. CSWE. (2012). 2012 Annual statistics on social work education in the United States. Alexandria, VA: Council on Social Work Education. Retrieved from http://www.cswe.org/File.aspx?id=68977.Google Scholar
  29. Cynamon, B. Z., & Fazzari, S. M. (2014, October). Inequality, the great recession, and slow recovery. Retrieved from SSRN: http://ssrn.com/abstract=2205524 or http://dx.doi.org/10.2139/ssrn.2205524
  30. Danziger, S., Sandefur, G., & Weinberg, D. H. (1994). Confronting poverty: Prescriptions for change. Boston, MA: Harvard University Press.Google Scholar
  31. Despard, M., & Chowa, G. A. N. (2010). Social workers’ interest in building individuals’ financial capabilities. The Journal of Financial Therapy, 1(1), 23–41.CrossRefGoogle Scholar
  32. Despard, M., Chowa, G. A. N., & Hart, L. (2011). Personal financial problems: Opportunities for social work interventions? Journal of Social Service Research, 38(3), 342–350.CrossRefGoogle Scholar
  33. Edwards, K., Gunn, G., Downs, J., & Heffern, J. (2008). Asset-building coalitions in Oregon and North Carolina. St. Louis, MO: Center for Social Development. Retrieved from http://csd.wustl.edu/Publications/Documents/OR_NC_Case_Studies.pdf.Google Scholar
  34. Elliott, W., Destin, M., & Friedline, T. (2011). Taking stock of ten years of research on the relationship between assets and children’s educational outcomes: Implications for theory, policy and intervention. Children and Youth Services Review, 33(11), 2312–2328.CrossRefGoogle Scholar
  35. Elliott, W., & Nam, I. (2013). Is student debt jeopardizing the short-term financial health of US households? Federal Reserve Bank of St. Louis Review, 95(5), 4015–4424.Google Scholar
  36. Engelbrecht, L. (2008). The scope of financial literacy education: A poverty alleviation tool in social work? Maatskaplike Werk/Social Work, 44(3), 252–262.Google Scholar
  37. Epstein, G. A. (2006). Financialization and the world economy. Cheltenham, UK: Edward Elgar Publishing.Google Scholar
  38. Fenge, L. A. (2012). Economic well-being and ageing: The need for financial education for social workers. Social Work Education, 31(4), 498–511.CrossRefGoogle Scholar
  39. Financial Therapy Association (n.d.). The purpose of the Association. Tarpon Springs, FL: Author. Retrieved from http://www.financialtherapyassociation.org/About_the_FTA.html
  40. Frey, J. J., Sander, R., Svoboda, D., & Elkinson, A. (2011). Defining the role and contributions of social workers in the advancement of economic stability and capability of individuals, families, and communities (CFS Research Brief 2011-5.4). Madison, WI: Center for Financial Security. Retrieved from http://www.cfs.wisc.edu/briefs/Jacobson2011_DefiningBrief.pdf
  41. Frey, J. J., Svoboda, D., Sander, R. L., Osteen, P. J., Callahan, C., & Elkinson A. (2015). Evaluation of a continuing education training on client financial capability. Journal of Social Work Education, 51(3), 439–456. http://dx.doi.org/10.1080/10437797.2015.1043195. doi: 10.1080/10437797.2015.1043195#_blank
  42. Gillen, M., & Loeffler, D. N. (2012). Financial literacy and social work students: Knowledge is power. Journal of Financial Therapy, 3(2), Article 4.Google Scholar
  43. GoldbergBelle, S., & Chenven, S. (2013). Accessing credit reports for foster youth: A reference guide for child welfare agencies. Washington, DC: Annie E Casey Foundation. Retrieved from http://www.aecf.org/m/blogdoc/aecf-AccessingCreditReportsforFosterYouth-2013.pdf.Google Scholar
  44. Greco, D., & Dawgert, S. (2007). Poverty and sexual violence: Building prevention and intervention responses: a guide for counselors and advocates. Enola, PA: Pennsylvania Coalition Against Rape. Retrieved from http://www.pcar.org/sites/default/files/pages-pdf/poverty_and_sexual_violence.pdf.Google Scholar
  45. Green, G. P., & Haines, A. L. (2015). Asset building and community development (4th ed.). Thousand Oaks, CA: Sage.Google Scholar
  46. Grinstein-Weiss, M., Russell, B., Tucker, B., & Comer, K. (2014). Lack of emergency savings puts American households at risk: Evidence from the Refund to Savings initiative (CSD Policy Brief 14-13). Center for Social Development, Washington University in St. Louis. Retrieved from http://csd.wustl.edu/Publications/Documents/RB14-13.pdf
  47. Halpern-Meekin, S., Edin, K., Tach, L., & Sykes, J. (2015). It’s not like I’m poor: How low income parents make ends meet in a post welfare world. Berkeley, CA: University of California Press.Google Scholar
  48. Herbert, M. D., & Mould, J. W. (1992). The advocacy role in public child welfare. Child Welfare, 71(2), 114–130.Google Scholar
  49. Hernandez, M. (2011). Applying behavioral research to asset-building initiatives: Lessons from a year of experimentation. Washington, DC: Corporation for Enterprise Development.Google Scholar
  50. Howard, C. (1999). The hidden welfare state: Tax expenditures and social policy in the United States. Princeton, NJ: Princeton University Press.CrossRefGoogle Scholar
  51. Huang, J., Sherraden, M., Clancy, C., & Purnell, J. (2014). Impacts of child development accounts on maternal depressive symptoms: Evidence from a randomized statewide policy experiment. Social Science and Medicine, 112, 30–38.PubMedCrossRefGoogle Scholar
  52. Huang, J., Sherraden, M., Kim, Y., & Clancy, M. (2014). Effects of child development accounts on early social-emotional development: An experimental test. Journal of the American Medical Association Pediatrics, 168(3), 265–271.PubMedGoogle Scholar
  53. International Federation of Social Workers. (2015). Global definition of social work. Berne, Switzerland: Author. Retrieved from http://ifsw.org/policies/definition-of-social-work/.Google Scholar
  54. Johnson, E., & Sherraden, M. S. (2007). From financial literacy to financial capability among youth. Journal of Sociology & Social Welfare, 34(3), 119–145.Google Scholar
  55. Katz, M. B. (1986). In the shadow of the poorhouse: A social history of welfare in America. New York: Basic Books.Google Scholar
  56. Keller, M. (2011). Couples & money: Financial social work to the rescue. Social Work Today, 11(3), 24. Retrieved from http://www.socialworktoday.com/archive/051711p24.shtml.Google Scholar
  57. Kempson, E., Perotti, V., & Scott, K. (2013). Measuring financial capability: A new instrument and results from low- and middle-income countries. Financial Literacy and Education, Russia Trust Fund. New York: The World Bank.Google Scholar
  58. Kindle, P. A. (2010). Student perceptions of financial literacy: Relevance to practice. Journal of Social Service Research, 36(5), 470–481.CrossRefGoogle Scholar
  59. Klontz, B. T., Bivens, A., Klontz, P. T., Wada, J., & Kahler, R. (2014). The treatment of disordered money behaviors: Results of an open clinical trial. Psychological Services, 5(3), 295–308.CrossRefGoogle Scholar
  60. Klontz, B. T., Britt, S. L., & Archuleta, K. L. (Eds.). (2015). Financial therapy: Theory, research, and practice. Switzerland: Springer International Publishing.Google Scholar
  61. Kondrat, M. E. (2002). Actor-centered social work re-visioning “person-in-environment” through a critical theory lens. Social Work, 47(4), 435–448.PubMedCrossRefGoogle Scholar
  62. Kulys, R., & Davis, M. A. (1986). An analysis of social services in hospices. Social Work, 31(6), 448–456.PubMedGoogle Scholar
  63. Lazar, C. M., Black, A. C., McMahon, T. J., O’Shea, K., & Rosen, M. I. (2014). Ambiguity in determining financial capability of SSI and SSDI beneficiaries with psychiatric disabilities. Psychiatric Services, 66(3), 279–284. Retrieved from http://ps.psychiatryonline.org/doi/abs/10.1176/appi.ps.201400036.PubMedPubMedCentralCrossRefGoogle Scholar
  64. Loke, V., Birkenmaier, J., & Hageman, S. A. (2015). Financial capability and asset building in the curricula: Student perceptions. Proceedings from Financial Capability and Asset Building (FCAB) Convening: Innovations in Social Work Education and Research. St. Louis, MO: Washington University in St. Louis.Google Scholar
  65. Loke, V., Watts, J. L., & Kakoti, S. A. (2013). Financial capabilities of service providers in the asset-building field. In J. Birkenmaier, M. S. Sherraden, & J. Curley (Eds.), Financial capability and asset building: Research, education, policy, and practice (pp. 251–277). Oxford, UK: Oxford University Press.CrossRefGoogle Scholar
  66. Loke, V., & Hageman, S. A. (2013). Debt literacy and social work. Journal of Financial Therapy, 4(1), Article 3. http://dx.doi.org/10.4148/jft.v4i1.1795
  67. Lusardi, A., Clark, R. L., Fox, J., Grable, J., & Taylor, E. (2010). Promising learning strategies, interventions, and delivery methods in financial literacy education: What techniques, venues, tactics, mechanisms, etc. show the most promise to promote and achieve financial well-being? Denver, CO: NEFE Colloquium.Google Scholar
  68. Mezirow, J. (1991). Transformative dimensions of adult learning. San Francisco, CA: Jossey-Bass.Google Scholar
  69. Mintz, J. (2014). Local government solutions to household financial instability: The supervitamin effect. Federal Reserve Bank of San Francisco Community Investment, 26(6), 16–19, 40–41. Retrieved from http://www.frbsf.org/community-development/files/ci_vol26no2-Local-Government-Solutions-to-Household-Financial-Instability.pdf
  70. Morduch, J., & Schneider, R. (n.d.). The USFD methodology: The financial lives of low- and moderate-income Americans (USFD Issue Brief 2). New York: US Financial Diaries Project. Retrieved from http://www.usfinancialdiaries.org/issue2-method917
  71. Morrow-Howell, N., & Sherraden, M. S. (2015). Financial capability and asset holding in later life. New York & London: Oxford University Press.Google Scholar
  72. Nam, Y. (2008). Welfare reform, asset limits, and financial asset accumulation among low-income households. Social Science Quarterly, 89(1), 133–154.CrossRefGoogle Scholar
  73. National Association of Social Workers [NASW]. (2008). Code of ethics of the National Association of Social Workers: Ethical principles. Washington, DC: Author. Retrieved from http://www.socialworkers.org/cod.aspNational.Google Scholar
  74. National Association of Social Workers [NASW]. (2013). NASW Standards for social work case management. Washington, DC: Author. Retrieved from http://www.socialworkers.org/practice/naswstandards/CaseManagementStandards2013.pdf.Google Scholar
  75. National Endowment for Financial Education (NEFE). (2013). Blueprint for community-based financial education (3rd ed.), Financial workshop kits. Denver, CO: NEFE. Retrieved from http://www.financialworkshopkits.org/Portals/0/NEFE%20CC%203rd%20ed%2003212013b_linked.pdf
  76. National Federation of Community Development Credit Unions. (2014). Financial capability partnership initiative. New York: Author. Retrieved from http://www.cdcu.coop/initiatives/responsible-products-and-services/financial-capability/financial-capability-partnership-initiative/.Google Scholar
  77. Nerenberg, L. (2008). Elder abuse prevention: Emerging trends and promising strategies. New York: Springer.Google Scholar
  78. Neuberger, Z., Greenberg, R., & Orszag. (2006). Barriers to saving. Communities & Banking, 17(3), 25–27. Retrieved from http://www.bostonfed.org/commdev/c&b/2006/summer/barrierstosaving.pdf.Google Scholar
  79. Nussbaum, M. C. (2000). Women and human development: The capabilities approach. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
  80. Oliver, M. L., & Shapiro, T. M. (2006). Black wealth/White wealth: A new perspective on racial inequality. New York: Routledge.Google Scholar
  81. Otabor, C., & Gordon Nembhard, J. (2012). The great recession and land and housing loss in African American communities: Case studies from Alabama, Florida, Louisiana, and Mississippi. Washington, DC: Howard University, Center on Race and Wealth.Google Scholar
  82. Passmore, J., & Whybrow, A. (2007). Motivational interviewing. In S. Palmer & A. Whybrow (Eds.), Handbook of coaching psychology (pp. 166–174). New York: Routledge.Google Scholar
  83. Peters, C. M., Sherraden, M. S., & Kuchinski, A. M. (in press). From foster care to adulthood: The role of income. Journal of Public Child Welfare, 10(1), 39–58. Google Scholar
  84. Piketty, T. (2014). Capital in the twenty-first century. Cambridge, MA: Harvard University Press.CrossRefGoogle Scholar
  85. Poore, A., & Quint, C. (2014, October 27). Baby talk: Children’s savings accounts mark new frontier in paying for college. New England Journal of Higher Education. Retrieved from http://www.nebhe.org/thejournal/baby-talk-childrens-savings-accounts-mark-new-frontier-in-paying-for-college/
  86. Postmus, J. L., Heltling, A., & Hoge, G. L. (2015). Evaluating a financial education curriculum as an intervention to improve financial behaviors and financial well-being of survivors of domestic violence: Results from a longitudinal randomized controlled study. Journal of Consumer Affairs, 49(1), 250–266.CrossRefGoogle Scholar
  87. Richburg-Hayes, L., Anzelone, C., Dechausay, N., Datta, S., Fiorillo, A., Potok, L., et al. (2014, April 15). Behavioral economics and social policy: Designing innovative solutions for programs supported by the Administration for Children and Families (OPRE Report No. 2014-16a), Office of Planning, Research and Evaluation, Administration for Children and Families. Washington, DC: U.S. Department of Health and Human Services. Retrieved from SSRN: http://ssrn.com/abstract=2466597
  88. Romich, J., Keenan, N., Miesel, J., & Hall, C. A. (2013). Income tax time as a time to build financial capability. In J. M. Birkenmaier, M. S. Sherraden, & J. C. Curley (Eds.), Financial capability and asset building: Research, education, policy, and practice (pp. 192–206). New York & Oxford: Oxford University Press.Google Scholar
  89. Saez, E., & Zucman, G. (2014). Wealth inequality in the United States since 1913: Evidence from capitalized income tax data (NBER Working Paper 20625). Cambridge, MA: National Bureau of Economic Research.Google Scholar
  90. Saleeby, D. (2012). The strengths perspective in social work practice. Boston, MA: Allyn & Bacon Publishers.Google Scholar
  91. Sanders, C. K. (2013). Financial capability among survivors of domestic violence. In J. M. Birkenmaier, M. Sherraden, & J. C. Curley (Eds.), Financial capability and asset development: Research, education, policy, and practice (pp. 85–107). Oxford University Press.Google Scholar
  92. Sanders, C. K., & Schnabel, M. (2006). Organizing for economic empowerment of battered women: Women’s savings accounts. Journal of Community Practice, 14(3), 47–68.CrossRefGoogle Scholar
  93. Scanlon, E., & Sanders, C. (2015). Applying direct practice: Theories and skills to financial capability and asset building. Proceedings from Financial Capability and Asset Building (FCAB) Convening: Innovations in Social Work Education and Research. St. Louis, MO: Washington University in St. Louis.Google Scholar
  94. Schiller, R. J. (2003). The new financial order: Risk in the 21 st century. Princeton, NJ: Princeton University Press.Google Scholar
  95. Schwartz, B. (2012). Rippling: How social entrepreneurs spread innovation throughout the world. San Francisco, CA: Jossey Bass.Google Scholar
  96. Sen, A. (1999). Development as freedom. New York: Oxford University Press.Google Scholar
  97. Shanks, T. R. W., Johnson, T., & Nicoll, K. (2008). Helping people act on their hopes rather on their fears: Lessons from non-enrollees in the SEED initiative (SEED Research Report). Lawrence, KS: University of Kansas School of Social Welfare.Google Scholar
  98. Shapiro, T. M., Meschede, T., & Osoro, S. (2013). Widening roots of the racial wealth gap: Explaining the Black-White economic divide. Boston, MA: Institute on Assets and Social Policy.Google Scholar
  99. Sherraden, M. S. (2013). Building blocks of financial capability. In J. M. Birkenmaier, M. S. Sherraden, & J. C. Curley (Eds.), Financial capability and asset building: Research, education, policy, and practice (pp. 3–43). New York & Oxford: Oxford University Press.Google Scholar
  100. Sherraden, M. (1991). Assets and the poor: A new American welfare policy. Armonk, NY: ME Sharpe.Google Scholar
  101. Sherraden, M. (2011). Asset-based policies and financial services: Toward fairness and inclusion. In R. D. Plotnick, M. K. Meyers, J. Romich, & S. R. Smith (Eds.), Old assumptions, new realities: Economic security for working families in the 21st century (pp. 125–149). New York: Russell Sage.Google Scholar
  102. Sherraden, M. (2014). Asset building research and policy: Pathways, progress, and potential of a social innovation. In R. Cramer & T. Williams Shanks (Eds.), The assets perspective: The rise of asset-building and its impact on social policy (pp. 263–284). London & New York: Palgrave MacMillan.CrossRefGoogle Scholar
  103. Sherraden, M. S., Birkenmaier, J. M., Rochelle, M., & McClendon, G. G. (2015). Financial capability and asset building in social work education: “The big piece missing?” Proceedings from Financial Capability and Asset Building (FCAB) Convening: Innovations in Social Work Education and Research. St. Louis, MO: Washington University in St. Louis.Google Scholar
  104. Sherraden, M. S., Huang, J., Frey, J. J., Birkenmaier, J., Callahan, C., Clancy, M. M., et al. (2015). Financial capability and asset building for all (Grand Challenges for Social Work Initiative Working Paper). Cleveland, OH: American Academy of Social Work and Social Welfare.Google Scholar
  105. Sherraden, M., & Barr, M. S. (2005). Institutions and inclusion in saving policy. In N. Retsinas & E. Belsky (Eds.), Building assets, building credit: Bridges and barriers to financial services in low-income communities (pp. 286–315). Washington, DC: Brookings Institution Press.Google Scholar
  106. Sherraden, M. S., Laux, S., & Kaufman, C. (2007). Financial education for social workers. Journal of Community Practice, 15(3), 9–36.CrossRefGoogle Scholar
  107. Sherraden, M. S., & Ansong, D. (in press). Financial literacy to financial capability: Building financial stability and security. In C. Aprea, K. Breuer, P. Davies, B. Fuhrmann, N. K. Koh, J. S. Lopus, & E. Wuttke (Eds.), International handbook of financial literacy. New York: Springer.Google Scholar
  108. Soifer, S. D., McNeely, J. B., Costa, C. L., & Pickering-Bernheim, N. (2014). Community economic development in social work. New York: Columbia University Press.Google Scholar
  109. Specht, H., & Courtney, M. (1995). Unfaithful angels: How social work has abandoned its mission. New York, NY: The Free Press.Google Scholar
  110. Sprague, A., & Black, R. (2012). State asset limit reforms and implications for federal policy. Washington, DC: New America Foundation. Retrieved from: http://assets.newamerica.net/sites/newamerica.net/files/policydocs/SpragueBlackFinal10.31.12.pdf.Google Scholar
  111. Stuart, P. H. (2013). Social workers and financial capability in the profession’s first half century. In J. M. Birkenmaier, M. S. Sherraden, & J. C. Curley (Eds.), Financial capability and asset building: Research, education, policy, and practice (pp. 44–61). New York & Oxford: Oxford University Press.Google Scholar
  112. Stuart, P. H. (2015). Financial capability practice in the Progressive Era: Lessons for today. Proceedings from Financial Capability and Asset Building (FCAB) Convening: Innovations in Social Work Education and Research. St. Louis, MO: Washington University in St. Louis.Google Scholar
  113. Taylor, M. (2011). Measuring financial capability and its determinants using survey data. Social Indicators Research, 102(2), 297–314.CrossRefGoogle Scholar
  114. Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving decisions about health, wealth and happiness. New Haven, CT, and London: Yale University Press.Google Scholar
  115. Trattner, W. I. (2007). From poor law to welfare state: A history of social welfare in America (6th ed.). New York: Free Press.Google Scholar
  116. Tucker, J. N., Key, C. C., & Grinstein-Weiss, M. (2014). The benefits of saving at tax time: Evidence from the $aveNYC evaluation. The Journal of Socio-Economics, 48, 50–61. doi: 10.1016/j.socec.2013.08.011.CrossRefGoogle Scholar
  117. Tversky, A., & Kahneman, D. (1986). Rational choice and the framing of decisions. In D. Kahneman & A. Tversky (Eds.), Choices, values, and frames (pp. 209–223). New York: Cambridge University Press and Russell Sage Foundation.Google Scholar
  118. US Department of Treasury. (2006). Taking ownership of the future: The national strategy for financial literacy. Washington, DC: Financial Literacy and Education Commission.Google Scholar
  119. Washington, T. A. (2002). The homeless need more than just a pillow, they need a pillar: An evaluation of a transitional housing program. Families in Society: The Journal of Contemporary Social Services, 83(2), 183–188.CrossRefGoogle Scholar
  120. Watson Grote, M., & Duh, N. (2011). Cash value: How The Financial Clinic puts money into the pockets of working-poor families. New York: The Financial Clinic.Google Scholar
  121. Wike, R., & Oates, R. (2014). Emerging nations embrace Internet, mobile technology: Cell phones nearly ubiquitous in many countries. Washington, DC: Pew Research Center. Retrieved from http://www.pewglobal.org/files/2014/02/Pew-Research-Center-Global-Attitudes-Project-Technology-Report-FINAL-February-13-20146.pdf.Google Scholar
  122. Wolfsohn, R., & Michaeli, D. (2014). Financial social work. In C. Franklin (Ed.), Encyclopedia of social work. Washington, DC & New York: National Association of Social Work and Oxford University Press.Google Scholar
  123. Xiao, J. J. (2015). Consumer financial capability and economic wellbeing. New York: Springer.CrossRefGoogle Scholar
  124. Xiao, J. J., O’Neill, B., Prochaska, J., Kerbel, C., Brennan, P., & Bristow, B. (2004). A consumer education programme based on the TTM of change. International Journal of Consumer Studies, 28(1), 55–65.CrossRefGoogle Scholar
  125. Zelizer, V. A. (1994). The social meaning of money. New York: Basic Books.Google Scholar
  126. Zhan, M., Anderson, S. G., & Scott, J. (2006). Financial knowledge of the low-income population: Effects of a financial education program. Journal of Sociology and Social Welfare, 33(1), 53–74.Google Scholar

Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

  • Margaret S. Sherraden
    • 1
    • 2
    Email author
  • Jodi Jacobson Frey
    • 3
  • Julie Birkenmaier
    • 4
  1. 1.School of Social WorkUniversity of Missouri-St. LouisSt. LouisUSA
  2. 2.Washington University in St. Louis, One University BoulevardSt. LouisUSA
  3. 3.School of Social WorkUniversity of Maryland, BaltimoreBaltimoreUSA
  4. 4.School of Social WorkSaint Louis UniversitySt. LouisUSA

Personalised recommendations