As a social worker how can I help clients solve financial issues?

Hello All,





I have a few questions to ask you:





1. As you know accounting is a profession that focus on helping clients with their "financial" problems while social work is a profession that focus on helping clients with their "social" problems. As a social worker how can I apply strategies from the accounting profession to help clients solve their financial problems?





2. Are there social workers who work within the financial services sector?





3. Is there a possibility to become a social work accountant? If yes, how? explain.

As a social worker how can I help clients solve financial issues?
In fact there are many social service programs that address and use financial planning with people in poverty. I worked with one student who did her field placement in a community agency that worked to help clients use the earned income tax credit on the federal income tax credit and to put this money into a savings account. Many community centers run financial planning courses for residence - eg. creating a budget, savings, the actual cost of credit (many people in poverty use cash advance services, etc.). So the idea of combining social work and financial services is a great one (in fact economics is increasingly becoming a part of social work programs and/or a prerequisist).





I don't think you will find this coming out of the financial sector as heavily as the services coing out of the non-profit human service sector.





I don't know about a social work accountant - but certainly the skills of accountancy/financial planning/financial education can easily be combined with social work.





DA
Reply:Although there aren't rules against one profession from involving in the other, I wouldn't necessarily support the idea that a social worker becoming a financial advisor.





My view is that social work is more holistic and focus more on help the client recognize her/his issues. So that s/he can proactively seek advice.





Financial advisor is more about giving actionable advices rather than help client recognize issues.





One dangle a carrot in front of them, the other one hit them with a carrot. I am more of a purist, and therefore don't believe one can master both. Having said that, I totally support a social work professional broaden his/her knowledge skills in financial advising so that s/he can speak more knowledgeably with their clients.





Best wishes.
Reply:Sent them to a FINANCIAL ADVISOR.
Reply:If in the UK recommend the Citizens Advise Bereau (which is obviously free) or the Consumer Credit Counselling Service (also free however the must meet the criteria ie. have a job and have at least two creditors which they can pay £5/month to)





There is also the FSA (Financial Services Authority) which offers advise.





The benefit of using these services is that a creditor can freeze the account in question so long as the customer has a reference number from the organisation. After that token payments can be made of usually at least £1 per month.
Reply:2.I think there is a book at the Library on every possible state run agency for assisting people with almost any kind of training , they might have a few answers already, but maybe not enough to make any real difference to your clients.


Saving money on daily items such as food, using discount stores also yard sales for decorative items and Thrift stores ,even occasionally, cuts down on spending.


There are new gift card-prepaid credit cards that might steer a person away from blowing their cash on things they dont need.


Also many people dont realize that they can stay out of trouble for writing bad checks if they never write checks for anything but utility bills .An ATM card is available with a checking account and many people need to be able to use an ATM check card for renting a car sometimes.


(Gaurdianship is a cruel horrible last resort.)


3. It might help if you wrote down a list of most reported financial problems and then called up and asked lending institutions if they had any new products for lower income investors. Collection agencies can sometimes take less than what is owed in interest, but one has to have the courage to take their calls.


1.If you can get them to buy their own house it will at least insure that they arent suddenly homeless and jobless ,longterm rental is for the wealthy. They might have to buy an old house and probably fix it up or call habitat for humanity to help them rebuild a house,.


Its a good idea to help them learn finance , but you may have to put together a whole new concept from your own research and of your own design and then make sure it gets approved by state license or pilot program, or write a manuel to give to them to read about needing less money by using less money to purchase what they need and making it fun to hunt for sales to stay happy .
Reply:you can't really. financial problems are often times because of behavioral problems. misbehaving with money.





now if this is not the case and they need to do a budget. show them how to live on less than they earn.





now if this is not the case and they do have a money problem, then they need to get a job and then another job.





do odd jobs, delivery person, clean houses, offices, babysit, sell stuff, get another job. do whatever they can to get money honestly. see if they can cut out expenses from somewhere.





i dont know any social workers that work in the financial field as well.