Overview

"Financial struggles of American families are headline news. In communities across the nation, families feel the pinch of stagnant and sometimes declining incomes. Many have not recovered from the Great Recession, when millions lost their homes and retirement savings. They are bombarded daily with vexing financial decisions: Which bills to pay? Where to cash checks? How to cover an emergency? How to improve a credit report? How to bank online? How to save for the future? Low- and moderate-income families have few places to turn for guidance on financial matters. Not many can afford to pay a financial advisor to help navigate an increasingly complex financial world. They do their best with advice from family and trusted individuals. Social workers, financial counselors, and human services professionals can help. As ""first responders,"" they assist families and help in finding financial support from public and private sources. But these professionals are too often unprepared to address the full range of financial troubles of ordinary working families. Financial Capability and Asset Building in Vulnerable Households prepares social workers, financial counselors, and other human service professionals for financial practice with vulnerable families. Building on more than 20 years of research, the book sets the stage with key concepts, historical antecedents, and current financial challenges of families in America. It provides knowledge and tools to assist families in pressing financial circumstances, and offers a lifespan perspective of financial capability and environmental influences on financial behaviors and actions. Furthermore, the text details practice principles and skills for direct interventions, as well as for designing financial services and policy innovations. It is an essential resource for preparing the next generation of practitioners who can enable families to achieve economic security and development."

Full Product Details

Author:   Margaret Sherrard Sherraden (Professor, Professor, School of Social Work, University of Missouri - St. Louis) ,  Julie Birkenmaier (Associate Professor, Associate Professor, St. Louis University School of Social Work) ,  J. Michael Collins (Associate Professor, Associate Professor, University of Wisconsin - Madison)
Publisher:   Oxford University Press Inc
Imprint:   Oxford University Press Inc
Dimensions:   Width: 27.70cm , Height: 2.80cm , Length: 21.30cm
Weight:   0.001kg
ISBN:  

9780190238568

ISBN 10:   0190238569
Pages:   472
Publication Date:   12 July 2018
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   To order  
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.

Table of Contents

Acknowledgments Introduction Part I: Setting the Stage: Financial Capability and Asset Building in Financially Vulnerable Households Chapter 1: Financial Well-Being: Basic Concepts Chapter 2: Financial Vulnerability in American Families: A Portrait Chapter 3: History of Financial Capability and Asset Building in America Chapter 4: Financial Institutions, Products, and Services Chapter 5: Understanding Household Finance: Income Statements and Balance Sheets Part II: Household Finance: Building a Foundation for Financial Capability and Asset Building Chapter 6: Household Income Chapter 7: Taxes and Financially Vulnerable Households Chapter 8: Values, Goals, and Spending Plans Chapter 9: Short-Term and Emergency Savings Chapter 10: Long-Term Savings and Asset Accumulation: Building a Future Chapter 11: Credit and Credit Building Chapter 12: Higher Education Chapter 13: Housing and Homeownership Chapter 14: Debt, Problem Debt, and Debt Negotiation Chapter 15: Risk Management and Insurance Chapter 16: Identity Theft and Protection Chapter 17: Collections, Garnishments, and Bankruptcy Chapter 18: Preparing for Financial Security in Old Age Chapter 19: Putting Financial Affairs in Order: Estate Planning Part III: Human Services: Financial Capability and Asset-Building Practice Chapter 20: Financial Capability in the Social Environment: Preparing for Financial Capability and Asset-Building Practice Chapter 21: Financial Practice with Individuals and Families Chapter 22: Financial Capability and Asset Building in Organizations, Communities, and Policy Chapter 23: Career Pathways in Financial Capability and Asset-Building Practice Glossary Index

Reviews

The book takes a uniquely valuable approach by which financial issues are described from the perspective of those who experience financial struggles and those who are trying to assist them based on principles from the humanservice professions, such as a strengths perspective, a nonjudgmental attitude, cultural competence, humility, and respect for client self-determination. -- Journal of Teaching in Social Work Rather than just help individuals balance their budget, Financial Capability and Asset Building in Vulnerable Households importantly encourages human service workers to engage in financial practice with low-income families based on the relationship between individuals and their environment. Packed with new and extremely valuable information about financial capability and asset building, the authors reject the standard victim-blaming narrative. Instead, they rightly argue that family financial well-being is not possible without public policies that support many financial opportunities. The solid 'practice wisdom' threaded throughout this readable new book, applied to diverse populations, effectively locates 'financial capability' and 'assets' in their theoretical social, environmental, and historical contexts. Social workers are urged to undo decades of asset-stripping policies that begot today's disturbing asset or wealth inequality.> - Mimi Abramovitz, Hunter College, CUNY Financial Capability and Asset Building is a unique, comprehensive resource for front-line professionals and policymakers. Sherraden, Birkenmaier, and Collins compellingly convey how the financial lives of many low-income families of color in the U.S. are undermined by financial volatility, fewer assets, predatory lenders, and less financial know-how. Chapters combine data analysis, historical background, and powerful conceptual frameworks, defining terms like financial capability, explaining budgets and debt, and prompting further practical reflection and application. Challenges and solutions are discussed in the context of the financial decisions facing real families. This timely book fills a big gap.> - Robert Giloth, Vice President, Center for Economic Opportunity, The Annie E. Casey Foundation This is a wonderful book for those who aspire to translate knowledge about financial capacity building into action for vulnerable populations. The themes are derived from a tested and validated curriculum and will be a great resource for educators, social workers, and other practitioners. The span of issues covered is impressive and the organization of the book allows for targeted information about specific topics. The overview of the broad policy debates combined with the qualitative narratives is a distinct strength.> - Alan Mathios, Rebecca Q. and James C. Morgan Dean, College of Human Ecology, Cornell University Skillfully integrating theory and practice, this seminal book offers clear concepts, real life examples, and key resources centered on struggling families and their financial needs and opportunities throughout the life course. The breadth of topics is impressive, including income, taxes, spending, saving, budgeting, credit and credit building, risk management and insurance, college, homeownership, and financial security and estate planning in old age. They also enable practitioners to engage with policymakers to help create more enabling policy environments for vulnerable families. I'm only sorry it took until the publication of this critical book to revive the sound Progressive Era idea that the helping professions, at their core, must also be about financial capability.> - Ray Boshara, Senior Fellow, Financial Security Program, The Aspen Institute; Founding Director, Asset Building Program, New America; co-author, The Next Progressive Era Empirical studies have established a strong, inverse relationship between a household's financial resources and its ability to use those resources in a self-beneficial manner. Vulnerable households are thus doubly disadvantaged and in need of strategic financial advice from appropriately trained practitioners, primarily social workers. This is the first textbook specifically designed to meet that need.> - Lewis Mandell, Professor Emeritus of Finance and Managerial Economics, State University of New York at Buffalo

"""The book takes a uniquely valuable approach by which financial issues are described from the perspective of those who experience financial struggles and those who are trying to assist them based on principles from the humanservice professions, such as a strengths perspective, a nonjudgmental attitude, cultural competence, humility, and respect for client self-determination."" -- Journal of Teaching in Social Work Rather than just help individuals balance their budget, Financial Capability and Asset Building in Vulnerable Households importantly encourages human service workers to engage in financial practice with low-income families based on the relationship between individuals and their environment. Packed with new and extremely valuable information about financial capability and asset building, the authors reject the standard victim-blaming narrative. Instead, they rightly argue that family financial well-being is not possible without public policies that support many financial opportunities. The solid 'practice wisdom' threaded throughout this readable new book, applied to diverse populations, effectively locates 'financial capability' and 'assets' in their theoretical social, environmental, and historical contexts. Social workers are urged to undo decades of asset-stripping policies that begot today's disturbing asset or wealth inequality."" - Mimi Abramovitz, Hunter College, CUNY Financial Capability and Asset Building is a unique, comprehensive resource for front-line professionals and policymakers. Sherraden, Birkenmaier, and Collins compellingly convey how the financial lives of many low-income families of color in the U.S. are undermined by financial volatility, fewer assets, predatory lenders, and less financial know-how. Chapters combine data analysis, historical background, and powerful conceptual frameworks, defining terms like financial capability, explaining budgets and debt, and prompting further practical reflection and application. Challenges and solutions are discussed in the context of the financial decisions facing real families. This timely book fills a big gap."" - Robert Giloth, Vice President, Center for Economic Opportunity, The Annie E. Casey Foundation This is a wonderful book for those who aspire to translate knowledge about financial capacity building into action for vulnerable populations. The themes are derived from a tested and validated curriculum and will be a great resource for educators, social workers, and other practitioners. The span of issues covered is impressive and the organization of the book allows for targeted information about specific topics. The overview of the broad policy debates combined with the qualitative narratives is a distinct strength."" - Alan Mathios, Rebecca Q. and James C. Morgan Dean, College of Human Ecology, Cornell University Skillfully integrating theory and practice, this seminal book offers clear concepts, real life examples, and key resources centered on struggling families and their financial needs and opportunities throughout the life course. The breadth of topics is impressive, including income, taxes, spending, saving, budgeting, credit and credit building, risk management and insurance, college, homeownership, and financial security and estate planning in old age. They also enable practitioners to engage with policymakers to help create more enabling policy environments for vulnerable families. I'm only sorry it took until the publication of this critical book to revive the sound Progressive Era idea that the helping professions, at their core, must also be about financial capability."" - Ray Boshara, Senior Fellow, Financial Security Program, The Aspen Institute; Founding Director, Asset Building Program, New America; co-author, The Next Progressive Era Empirical studies have established a strong, inverse relationship between a household's financial resources and its ability to use those resources in a self-beneficial manner. Vulnerable households are thus doubly disadvantaged and in need of strategic financial advice from appropriately trained practitioners, primarily social workers. This is the first textbook specifically designed to meet that need."" - Lewis Mandell, Professor Emeritus of Finance and Managerial Economics, State University of New York at Buffalo"

Empirical studies have established a strong, inverse relationship between a households financial resources and its ability to use those resources in a self-beneficial manner. Vulnerable households are thus doubly disadvantaged and in need of strategic financial advice from appropriately trained practitioners, primarily social workers. This is the first textbook specifically designed to meet that need. * Lewis Mandell, Professor Emeritus of Finance and Managerial Economics, State University of New York at Buffalo * Bravo to Sherraden, Birkenmaier, and Collins! Theyve written the foundational book for human service practitioners and others committed to the financial empowerment of vulnerable families. Skillfully integrating theory and practice, this seminal book offers clear concepts, real life examples, relevant histories, insightful case studies, and other key resources centered on struggling families and their financial needs and opportunities throughout the life course...They also enable practitioners to engage with policymakers to help create more enabling policy environments for vulnerable families. Im only sorry it took until the publication of this critical book to revive the sound Progressive Era idea that the helping professions, at their core, must also be about financial capability. * Ray Boshara, Senior Fellow, Financial Security Program, The Aspen Institute; Founding Director, Asset Building Program, New America; co-author, The Next Progressive Era * This is a wonderful book for those who aspire to translate knowledge about financial capacity building into action for vulnerable populations. The themes are derived from a tested and validated curriculum and will be a great resource for educators, social workers, and other practitioners. The span of issues covered is impressive and the organization of the book allows for targeted information about specific topics. The overview of the broad policy debates combined with the qualitative narratives is a distinct strength. * Alan Mathios, Rebecca Q. and James C. Morgan Dean, College of Human Ecology, Cornell University * Financial Capability and Asset Building in Vulnerable Households is a unique, comprehensive resource for front-line professionals and policymakers. Sherraden, Birkenmaier, and Collins compellingly convey how the financial lives of many low-income families of color in the U.S. are undermined by financial volatility, fewer assets, predatory lenders, and less financial know-how. Chapters combine data analysis, historical background, and powerful conceptual frameworks, defining terms like financial capability, explaining budgets and debt, and prompting further practical reflection and application. Challenges and solutions are discussed in the context of the financial decisions facing real families. This timely book fills a big gap. * Robert Giloth, Vice President, Center for Economic Opportunity, The Annie E. Casey Foundation * Rather than just help individuals balance their budget, Financial Capability and Asset Building in Vulnerable Households importantly encourages human service workers to engage in financial practice with low-income families based on the relationship between individuals and their environment. Packed with new and extremely valuable information about financial capability and asset building, the authors reject the standard victim-blaming narrative. Instead, they rightly argue that family financial well-being, key to future economic security, is not possible without public policies that support many financial opportunities. The solid practice wisdom threaded throughout this readable new book, applied to diverse populations, effectively locates financial capability and assets in their theoretical social, environmental, and historical contexts. * Mimi Abramovitz, Bertha Capen Reynolds Professor of Social Policy, Silberman School of Social Work, Hunter College, City University of New York *

Rather than just help individuals balance their budget, Financial Capability and Asset Building in Vulnerable Households importantly encourages human service workers to engage in financial practice with low-income families based on the relationship between individuals and their environment. Packed with new and extremely valuable information about financial capability and asset building, the authors reject the standard victim-blaming narrative. Instead, they rightly argue that family financial well-being is not possible without public policies that support many financial opportunities. The solid 'practice wisdom' threaded throughout this readable new book, applied to diverse populations, effectively locates 'financial capability' and 'assets' in their theoretical social, environmental, and historical contexts. Social workers are urged to undo decades of asset-stripping policies that begot today's disturbing asset or wealth inequality. - Mimi Abramovitz, Hunter College, CUNY Financial Capability and Asset Building is a unique, comprehensive resource for front-line professionals and policymakers. Sherraden, Birkenmaier, and Collins compellingly convey how the financial lives of many low-income families of color in the U.S. are undermined by financial volatility, fewer assets, predatory lenders, and less financial know-how. Chapters combine data analysis, historical background, and powerful conceptual frameworks, defining terms like financial capability, explaining budgets and debt, and prompting further practical reflection and application. Challenges and solutions are discussed in the context of the financial decisions facing real families. This timely book fills a big gap. - Robert Giloth, Vice President, Center for Economic Opportunity, The Annie E. Casey Foundation This is a wonderful book for those who aspire to translate knowledge about financial capacity building into action for vulnerable populations. The themes are derived from a tested and validated curriculum and will be a great resource for educators, social workers, and other practitioners. The span of issues covered is impressive and the organization of the book allows for targeted information about specific topics. The overview of the broad policy debates combined with the qualitative narratives is a distinct strength. - Alan Mathios, Rebecca Q. and James C. Morgan Dean, College of Human Ecology, Cornell University Skillfully integrating theory and practice, this seminal book offers clear concepts, real life examples, and key resources centered on struggling families and their financial needs and opportunities throughout the life course. The breadth of topics is impressive, including income, taxes, spending, saving, budgeting, credit and credit building, risk management and insurance, college, homeownership, and financial security and estate planning in old age. They also enable practitioners to engage with policymakers to help create more enabling policy environments for vulnerable families. I'm only sorry it took until the publication of this critical book to revive the sound Progressive Era idea that the helping professions, at their core, must also be about financial capability. - Ray Boshara, Senior Fellow, Financial Security Program, The Aspen Institute; Founding Director, Asset Building Program, New America; co-author, The Next Progressive Era Empirical studies have established a strong, inverse relationship between a household's financial resources and its ability to use those resources in a self-beneficial manner. Vulnerable households are thus doubly disadvantaged and in need of strategic financial advice from appropriately trained practitioners, primarily social workers. This is the first textbook specifically designed to meet that need. - Lewis Mandell, Professor Emeritus of Finance and Managerial Economics, State University of New York at Buffalo

Author Information

Margaret S. Sherraden, PhD, MA, is Professor Emeritus at the University of Missouri-St. Louis and Research Professor at Washington University in St. Louis. Julie Birkenmaier, PhD, MSW, LCSW, is a Professor at Saint Louis University School of Social Work and a Project Co-Director of Financial Capability with the Center for Social Development at Washington University in St Louis. J. Michael Collins, PhD, MA, MPP, is Associate Professor of Public Affairs and Consumer Finance at the University of Wisconsin-Madison School of Human Ecology and La Follette School of Public Affairs.

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