Financial therapy is a time limited and structured process that recognizes the reality that there is a close association between financial health and mental health. This approach draws strongly from the positive psychology and sport performance psychology disciplines that focus on helping people be the very best versions of themselves and achieve peak performance. It takes place over the course of 6-8 sessions and can continue in an open ended fashion if necessary.
Benefits of financial therapy include:
- Reduced stress
- Improved communication with your partner and/or family members
- Increase marital satisfaction
- Establishment of functional financial goals including clear tasks to complete
- Greater confidence and consistency in your choices about money
- Improved ability to benefit from the services of a Financial Planner
Disclaimer: Financial therapy includes working on budgeting and review of at least some of your financial information. It is important to point out that this is not financial planning, nor is it about making specific choices on how to invest for wealth development. These are things that should be done with the assistance of a Certified Financial Planner (CFP). Financial therapy is also best done in conjunction with working with a financial planner.