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date: 20 April 2024

Financial Capabilitylocked

Financial Capabilitylocked

  • Margaret Sherrard Sherraden, Margaret Sherrard SherradenWashington University in St. Louis
  • Jin HuangJin HuangSaint Louis University
  •  and David AnsongDavid AnsongUniversity of North Carolina at Chapel Hill


In a context of financial insecurity and inequality, exacerbated by a global pandemic in which many people are struggling to survive, financial capability has become increasingly important. Financial capability combines the ability to act with the opportunity to act in ways that contribute to financial well-being. Improving financial capability requires improved lifelong access to appropriate and beneficial policies, financial products, and services, along with financial education and guidance. Historically, social work played a key role in building financial capability through interventions in households, organizations, communities, and policies. In the 21st century, despite significant developments, social workers must do more to eliminate systemic and persistent economic, racial, and political barriers to financial well-being.


  • Policy and Advocacy
  • Populations and Practice Settings
  • Poverty
  • Race, Ethnicity, and Culture
  • Social Work Profession

Updated in this version

Content and references updated for the Encyclopedia of Macro Social Work.

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