The Social Work Wealth Magazine - Fall 2023

Page 38

By: Olymphia O'Neale-White, DSW, LMSW & Ashlin Price, LMSW, CAC-AD An unacknowledged truth is that financial literacy is neglected in social work curricula, which affects the ability for social workers to achieve financial freedom. Financial strain can negatively influence the social, emotional, physical and mental aspects of the human experience, and social workers are no exception.

The broadened perspective of financial literacy among social workers encourages an environ­ ment meant for exploration and learning. Social workers are then able to expand their reach and more effectively combat financial strain with income building strategies.

Transforming the relationship social workers have with finances provides a foundation for informed decision-making, which cultivates a healthy connection with money and entrepre­ neurship. This insight also reinforces the action of professional advocacy, empowering social work professionals to negotiate equitable compensation in the job&1arket.

As clinicians and financial social workers, we crafted this article to support our fellow social work professionals in enhancing their financial knowledge through discussing the three types of income and exploring ways to enhance income potential. However, in sharing this writ­ ing, we extend the disclaimer that we are not financial advisors. Instead, we developed this content for educational purposes, which includes financial literacy topics and our �pe�al insigh!s. Keep in mind, to make the best financial decisions that suit I} your needs, it will be (jl � � important to conduct ,. "· in-depth study of II topics including forms of income, investment / options, and wealth-building strategies. In addition, you are encouraged to seek the advice of ,. a qualified financial 'E, advisor. The world of investing often involves varying levels of risk, including








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