Money operates on two levels — within the “real” world and within our psyches.
As one study defines it, financial therapy is “dedicated to the integration of economic, cognitive, emotional, behavioral, and relational aspects of financial well-being.”
In short, financial therapy explores what money means to us on an emotional level, because that’s where “money problems” arise: from the core of who we are. Financial therapists like Laurie Buntain explore that intimate relationship, allowing us to realize true and lasting financial freedom.
“Money, psychologically speaking, is our projection onto coins, bills, bank accounts and other financial instruments of our beliefs, hopes and fears about how those things will affect who we are, what will happen to us and how we will be treated by others or by ourselves.” – Richard Trachtman, PhD
Until recently, if we had a “money problem,” our only recourse was to make an appointment with a financial advisor or an accountant, which is a great thing to do, but only if we know in advance that money operates on two levels — in the “real” world and within our psyches.
Today, psychologists and growing numbers of financial advisors recognize that the key to financial wellness is not simply a matter of good bookkeeping: Financial wellness is mindfulness about our relationship with money.
For more information, visit Financial Therapy Association.
Money Talk, by Gender
Men tend to view money as representing power and identity; women see money in terms of security and autonomy.
Men view money management in terms of long-term strategies (retirement, taxes).
Women tend to view money in short-term goals (finding bargains, balancing the checkbook).
Common Money Disorders
Money Avoidance Disorders: Financial denial, rejection, underspending.
Money Worshiping Disorders: Hoarding, pathological gambling, workaholism, overspending, compulsive buying.
Relational Money Disorders: Financial infidelity, enabling, dependency.
Contact Laurie Buntain to learn more