I have always considered myself self-sufficient and knowledgeable, but when the topic of credit came up years ago, I was very confused. It all came about when I called a lab to check on results and they said I had a bill at collections from two years previous. It wasn’t until then that I realized the importance of learning about credit. The first step was to submit a note of dispute to my credit report detailing that I never received any bills from the lab. I then learned my score and went to various resources to learn more about credit. I talked to the financial aid office, my bank, friends and family. These days, I have a high credit score but I still don’t really know what revolving credit is. I always wondered how you’re supposed to know about credit without being taught it. Credit is so vital but so easy to damage, so I was happy to see a story on CNN titled “Social workers to teach money management.”
There are now several schools teaching social work students about financial management, like:
• The University of Maryland’s School of Social Work recently embraced the concept of “financial social work,” offering workshops and mini-courses for students and people already working in the field. Professor Dick Cook, who runs the school’s outreach service in Baltimore, said a primary goal is to help clients think more broadly about how to build assets.
• In St. Louis, social work professors have organized a “think tank” to brainstorm on how social work schools can better prepare their students to assist clients with financial decisions.
• In Ashville, North Carolina, social worker Reeta Wolfsohn is offering an online certificate course in financial social work that has extended into 20 states. The Social Services Department in North Carolina’s Wilson County last fall hired a “financial coach” who had taken Wolfsohn’s course.”.
“Many social service agencies have launched so-called financial literacy courses. New York City’s Administration for Children’s Services recently started a program for youths aging out of foster care that teaches basic financial skills and enables them to open savings accounts.”
A friend of the family on Hilton Head has started a business that seeks to educate high school students about credit and money-I wish that was around when I was younger!