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Should You Consider Financial Therapy?

The popularity of financial therapy is increasing slowly but surely. This new form of therapy stems from a small group of mental health and financial planning professionals. Simply put, financial therapists provide individuals with the best of both world’s both helping them to recognize how their relationship with money is connected to their behavior.  

How do you know financial therapy is for you?

If you feel like you need help understanding why it is difficult for you to budget money, reach your financial goals, or stop overspending – you might want to consider financial therapy. Experienced financial therapists also note to consider financial therapy if:

  • You tend to feel anxious or depressed when it comes to your finances
  • You have identified and made an effort to correct your behavior but have not been able to
  • You would like to get to the root of your financial issues

Finding a financial therapist

As it stands, there are not many facilities offering financial therapy. Those who are in the field now either have a mental health experience and are knowledgeable about financial issues or they have financial planning experience and have pursued mental health training.

There is no doubt that within the coming years this will be a booming field. Institutions such as Kansas State University and the University of Georgia offer degrees in financial therapy studies and within the next three to five years, the Financial Therapy Association will develop a certification.

To find a financial planner in your area, use the Financial Therapy Association’s member directory.