Build financial capability for all
Nearly half of all American households are financially insecure, without adequate savings to meet basic living expenses for three months. We can significantly reduce economic hardship and the debilitating effects of poverty by adopting social policies that bolster lifelong income generation and safe retirement accounts; expand workforce training and re-training; and provide financial literacy and access to quality affordable financial services.
Huang, J., Sherraden, M. S., Clancy, M. M., Sherraden, M., Birkenmaier, J., Despard, M., … Rothwell, D. (2016, September). Policy recommendations for meeting the Grand Challenge to Build Financial Capability and Assets for All (Grand Challenges for Social Work Initiative Policy Brief No. 11). Cleveland, OH: American Academy of Social Work & Social Welfare.
Policy Action Statement:
“Build financial capability and assets for all and Reduce extreme economic inequality.” Actions target universal and progressive Child Development Accounts as a policy vehicle for lifelong asset building.
April 27, 2016, “Thinking Money: The Psychology Behind our Best and Worst Financial Decisions” Film Viewing and Panel, University of Maryland, School of Social Work. Click here for more details.