Title: What It's Like To Be ... A Financial Therapist
Headings: What It's Like To Be ... A Financial Therapist
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What It's Like To Be ... A Financial Therapist
LearnVest: So how is “financial therapy” different from regular therapy?
What types of financial-psychological problems do you typically encounter in your work?
How can you tell if someone might need financial therapy? Are there certain red flags?
Are there any personality types that tend to be more susceptible to financial-psychological issues?
Is financial therapy recognized by the psychiatric establishment?
What about financial literacy education? Could that work as a substitute for financial therapy?
Are there risks in allowing financial-psychological issues to go untreated?
Can you share an example of how you helped a patient overcome psychological issues related to money?
Are there any strategies that people can use to strengthen their own financial psychology?
What, to your mind, comprises a healthy approach to finances?
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Content: And in much the same way that money problems arise from a series of small hurts and disappointments that accumulate over time, the consequences of these problems build in a similar way. One of particular note? Relationship issues. A fair percentage of my practice is couples-based, and there's typically a clashing of viewpoints that they can’t resolve on their own. As a financial therapist, I seek to uncover underlying tensions. It’s in times of stress or conflict, when the couple isn’t sure how to use their strengths in better harmony, that the process of compromise breaks down. Can you share an example of how you helped a patient overcome psychological issues related to money? I worked with a client who struggled with anxiety and questions of self-worth. She felt deeply ashamed if she spent money on anything for herself—behavior that stemmed from issues related to her upbringing. So we worked on creating order and safety in her financial system by helping her to better manage cash-flow and debt obligations.