Have you ever felt a knot in your stomach when checking your bank account? Or maybe you avoid looking at bills until the last minute? You’re not alone. Many of us have complicated feelings about money that go way beyond numbers.
This is where a new kind of professional comes in – the certified financial therapist. These specialists help people understand their relationship with money on a deeper level. They’re part financial advisor, part counselor, working to heal your relationship with money.
“Financial therapy addresses the emotional and psychological factors that affect our financial behaviors,” explains Dr. Brad Klontz, a pioneer in the field. “Most money problems aren’t actually about math – they’re about our feelings and beliefs.”
Unlike traditional financial advisors who focus mainly on investments and budgets, financial therapists dig into the “why” behind your money habits. They help uncover why you might overspend when stressed or why saving feels impossible even with a good income.
The Financial Therapy Association, which offers certification in this growing field, reports that money issues are a leading cause of stress in relationships. Arguments about finances are a top predictor of divorce. A financial therapist can help couples talk openly about money without the usual fights.
So how does it actually work? Sessions might include exploring your earliest money memories, identifying unhelpful beliefs, and creating healthier financial habits. A therapist might ask about your parents’ approach to money or help you connect spending patterns to emotional triggers.
People seek out financial therapy for many different reasons. Some struggle with excessive debt or compulsive shopping. Others have trouble saving despite good incomes. Many experience money anxiety or conflict with partners about finances.
“I had a client who earned six figures but could never save anything,” shares Lindsay Bryan-Podvin, a financial therapist and author. “We discovered her childhood experience of sudden poverty created a ‘scarcity mindset’ that made her spend money immediately.”
The benefits can be life-changing. Clients often report less anxiety about money, improved relationships, better spending habits, and clearer financial goals. Many finally feel empowered to take control of their finances after understanding their emotional blocks.
Financial therapy isn’t just for people with problems, though. Even successful savers and investors can benefit from exploring their money mindset. Some discover they’re too frugal, denying themselves simple pleasures due to deep-seated money fears.
Finding a qualified professional matters. Look for someone with both financial training and mental health credentials. The Financial Therapy Association offers a directory of certified members. Sessions typically cost between $100-250, similar to traditional therapy.
Insurance rarely covers financial therapy, making it less accessible for some. However, many practitioners offer sliding scale fees or group workshops at lower rates. Some employers now include financial wellness programs that incorporate aspects of financial therapy.
The field continues growing as more people recognize that financial wellness involves both practical skills and emotional health. Financial therapy bridges this gap, offering hope to those stuck in destructive money patterns.
“The goal isn’t just better financial decisions,” notes financial therapist Amanda Clayman. “It’s developing a healthier relationship with money that supports your overall wellbeing.”
Next time you notice strong feelings around money – whether anxiety, shame, or avoidance – remember that these emotions are normal. A financial therapist could help transform your relationship with money, creating not just better finances, but a more peaceful life.
