University of Maryland School of Social Work Financial Social Work Initiative Shares Five Tips to Manage Financial Stress

UMSSW Assistant Dean of Continuing Education and chair of the Financial Social Work Initiative provides tools for social workers to help clients as job market tightens

BALTIMORE, Md. — Job markets are showing signs of stress both nationwide and here in Maryland creating conditions that make financial worry feel personal and immediate, especially for federal workers facing another possible government shutdown. 

Most layoffs and work stoppages can catch employees by surprise, and to better prepare folks who might find themselves without a job, University of Maryland School of Social Work (UMSSW) Assistant Dean of Continuing Education Seantè Hatcher, MSW, LCSW-C, prepared five tips to help stabilize their lives and offer encouragement.

“As we prepare for this impending federal shutdown and possible layoffs, anxiety is high,” Hatcher said. “But remember: You’ve done hard things before, and you are more than capable of getting through this.”

Hatcher chairs UMSSW’s Financial Social Work Initiative (FSWI) where graduate social work students are trained on how to help clients navigate financial challenges. The FSWI serves as a national model for integrating financial capability into social work education and practice.

Social workers and allied professionals can also earn a Financial Social Work Certificate through the school to solidify their training.

“Financial stress is not a sign of personal failure. It’s evidence that the system works exactly as intended: to keep labor cheap and people compliant,” Hatcher said. “Recognizing this can help shift focus from “What am I doing wrong?” to “What can we build together that serves us better?” 

Below are five practical tips to help weather this storm:

• Don’t Hide: You may feel the urge to pull back and suffer in silence; but this is the moment to reach out. Contact creditors and service providers early to request hardship plans. Ask if you can move payments to the back of your loan (car loans, mortgages, utility forgiveness programs, etc.).

• Mutual Aid: Yes, everyone might be experiencing hardship, but collectively, you can ease the burden. This might look like food and resource sharing, childcare swaps, or even small revenue-generating ideas together.

• Resilience Starts With Perception: Is there a talent or skill you possess that can help generate money? This is the time to focus on what you can do, not on what you lost.

• Revisit Subscriptions and “Auto-Life”: This is not a “cut all of your wants” tip — you will need some type of reprieve. However, review what’s automatically leaving your account that you no longer use. Eliminating just a few quiet, forgotten expenses can create breathing room without drastically changing daily life. You may also want to pause automatic payments until you have steady revenue again.

• Track Your Energy, Not Just Your Money: Stress drains your decision-making power. Notice when you’re overwhelmed and take a break before making financial choices. A regulated moment often leads to clearer, more empowered decisions.

Hatcher adds that above all, keep your head up and do not be shy to ask for assistance.

“Your dignity matters more than your pride,” Hatcher said. “If you need help, local food banks and community programs exist for exactly this moment.”