For most Americans, money is the #1 life stressor. Interestingly, how much money we have (or don’t have) isn’t always the problem; our beliefs and feelings about money also play a tremendous role in how we manage it.
Many of our feelings around money are vestiges from childhood: perhaps a parent was unable to get or keep a job and money was rarely available; a child may have been shamed by others because his or her family had “too much” or “not enough” money; financial crises such as The Great Depression and The Great Recession can also have a lasting impact on children’s views toward finances.
Unresolved feelings (for example, fear and shame) about money and how we spend it (or don’t) can play out in self-defeating behaviors including overspending, extreme frugality, avoiding looking at credit card statements, and lying about our spending habits to our partners.
Financial counseling, or financial therapy as it’s sometimes called, can be highly beneficial to the client who struggles with a healthy relationship to money. A financial counselor can also help those whose behaviors are not in line with their values. In other words, if a person knows she or he “needs to save for retirement” or “stop overspending” but has so far failed to do so—a financial counselor can help the client examine the emotional and behavioral sides of making decisions around money.
The Insights therapist who offers financial counseling to clients of all ages is John Whaley. Call Insights Therapy today at 214.706.0508, click here to email us, or click here to schedule an appointment. Insights offers flexible scheduling with daytime, evening and weekend appointments.