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The Relevance of Financial Capabilities Development by Social Workers in Alleviating Poverty

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  • Ntobeko Bambeni

Abstract

The relevance of social work in developing financial capabilities has not been widely explored. The study sought to examine the relevance of social work in facilitating the development of the financial capabilities of individuals and households. The study was conducted through a literature review to explore the roles and relevance of social work in the development of financial capabilities. The study reveals that social workers work with vulnerable communities. Because of the knowledge and skills acquired during training, they are well-placed to help individuals and families resolve their financial problems. Social workers have battled with their low financial capability levels due to inferior knowledge and skills regarding financial concepts, services, and products; hence, they struggle to assist individuals and households experiencing financial difficulties. To mitigate this gap in social work practice, there is a need to empower social workers with knowledge and skills related to the development of financial capabilities.

Suggested Citation

  • Ntobeko Bambeni, 2023. "The Relevance of Financial Capabilities Development by Social Workers in Alleviating Poverty," International Journal of Social Work, Macrothink Institute, vol. 10(2), pages 65-89, December.
    • Handle: RePEc:mth:ijsw88:v:10:y:2023:i:2:p:65-89
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    References listed on IDEAS

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    1. Asli Demirguc-Kunt & Leora Klapper, 2013. "Measuring Financial Inclusion: Explaining Variation in Use of Financial Services across and within Countries," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 44(1 (Spring), pages 279-340.
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    3. Mahfuzur Rahman & Che Ruhana Isa & Muhammad Mehedi Masud & Moniruzzaman Sarker & Nazreen T. Chowdhury, 2021. "The role of financial behaviour, financial literacy, and financial stress in explaining the financial well-being of B40 group in Malaysia," Future Business Journal, Springer, vol. 7(1), pages 1-18, December.
    4. Sandra Braunstein & Carolyn Welch, 2002. "Financial literacy: an overview of practice, research, and policy," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 88(Nov), pages 445-457, November.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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