Financial literacy as one of the professional competencies of social workers to prevent or solve socio-economic problems

Abstract

This paper deals with the issue of financial literacy as one of the professional competencies of social workers to prevent or solve socio-economic problems of clients. A practical example is presented of resolving the financial problems of a client of a non-profit social organization, a homeless shelter in the Czech Republic. Through knowledge and experience in financial literacy issues, the educated social worker is able to determine the extent and causes of material need persuade the client to cooperate, as well as mobilize him toward alleviating or eliminating his unfavorable financial situation.