Research, Practice, and Policy Strategies to Build Financial Capability for All

The Grand Challenges for Social Work introduced by the American Academy of Social Work and Social Welfare (AASWSW) extend numerous opportunities for the profession to ameliorate widespread societal issues. The challenge “to build financial capability for all” is rooted in recognizing the influence of poverty and systemic inequality experienced across disparate populations. Financial instability is widespread and is not an issue exclusive to low-income populations. Nearly half of all households in the United States do not have enough savings to sustain themselves through three months of an economic emergency (AASWSW, 2017; Despard, Friedline, & Birkenmaier, 2018). Social work professionals throughout micro, mezzo, and macro levels of practice are well positioned to provide individuals with knowledge, skills, and access to opportunities needed to build and maintain long-term financial stability, regardless of their economic status. As cash has largely been replaced with credit-based transactions, financial well-being is increasingly dependent...