Finacial Therapy

DO I NEED A FINANCIAL THERAPIST OR A FINANCIAL PLANNER?

The short answer to this question is that you may want to have a Financial Therapist and a Financial Planner on your team, but wo should you work with first?

Here are some questions to help you decide if you could benefit from working with a Certified Financial Social Worker.

Do you want to improve your relationship with money?

Financial therapy can help you understand your beliefs, attitudes, and behaviors around money. By exploring these factors, you can develop healthier and more positive relationships with money.

Do you experience financial stress?

Financial stress can have a significant impact on your mental health and overall well-being. Financial therapy can help you identify the sources of your stress and develop strategies to manage it more effectively.

Do you need to develop a financial plan?

Financial therapy can help you create a personalized financial plan that aligns with your goals and values. This can help you make more informed decisions about saving, investing, and spending.

Are you experiencing feelings of anxiety and/or depression?

Many financial issues are rooted in deeper emotional or psychological issues. Financial therapy can help you explore and address these underlying issues, leading to long-lasting changes in your financial behaviors.

Do you need to improve communication about money?

Money can be a sensitive topic, and it can often lead to conflicts in relationships. Financial therapy can help you and your partner improve communication around money, leading to a stronger and more harmonious relationship.

How can participating in financial therapy help me?

Participating in financial therapy can help you gain a deeper understanding of your financial behaviors, improve your financial well-being, and enhance your overall quality of life.

WHAT ARE THE BENEFITS OF WORKING WITH A CERTIFIED FINANCIAL SOCIAL WORKER?

There are several benefits of working with a certified financial social worker, here are some of them:

1. Expertise: Certified financial social workers have specialized training and expertise in both financial planning and social work. They can address both the financial and emotional aspects of money management, helping clients navigate complex financial situations.

2. Integrated approach: Certified financial social workers take an integrated approach to financial planning, considering not only the numbers but also the individual’s values, beliefs, and emotions surrounding money. This allows them to create personalized financial plans that align with the client’s goals and priorities.

3. Emotional support: Money can be a source of stress, anxiety, and conflict for many people. Certified financial social workers are trained to provide emotional support and counseling to help clients navigate their financial challenges and make informed decisions.

4. Advocacy: Certified financial social workers function as advocates for their clients, helping them access resources and services that can improve their financial well-being. They can also assist clients in navigating complex financial systems and processes, such as applying for benefits or resolving financial disputes.

5. Ethical standards: Certified financial social workers adhere to a strict code of ethics, ensuring that they act in their clients’ best interests and maintain confidentiality. Working with a certified professional provides clients with peace of mind that their financial information is secure, and their interests are protected.

HOW DOES FINANCIAL THERAPY WORK?

Financial therapy helps clients understand their relationship with money by providing a safe and supportive space to explore their thoughts, feelings, and behaviors related to money. Therapists can help clients identify underlying emotional issues, beliefs, and patterns that influence their financial decisions and behavior. They can also help clients develop healthier attitudes and behaviors towards money, set financial goals, and create a plan to achieve them. By addressing the emotional and psychological aspects of money management, clients can gain a deeper understanding of their relationship with money and make positive changes to improve their financial well-being.

WHAT IS A FINANCIAL ASSESSENT?

Financial therapy begins with a financial therapy assessment. It is a process in which a financial therapist evaluates an individual or couple’s financial situation, beliefs, behaviors, and emotions related to money. This assessment helps the therapist understand the client’s financial challenges and goals, as well as any underlying psychological factors that may be influencing their financial decisions. The assessment may include questions about the client’s financial history, spending habits, financial goals, and attitudes towards money. Based on the assessment, the therapist can develop a personalized financial therapy plan to help the client improve their financial well-being and relationship with money.

HELPING CIENTS AVOID HITTING THE ICEBERG

Financial baggage refers to the negative emotions, beliefs, and experiences that individuals carry with them regarding money and finances. This can include feelings of guilt, shame, fear, or insecurity related to money, as well as unhealthy financial habits or patterns that were learned or developed over time. Financial baggage can impact an individual’s ability to make sound financial decisions, manage their money effectively, and achieve financial stability and success. It is important to address and work through financial baggage to improve one’s relationship with money and create a more positive financial future.

MAKING YOUR INITIAL INVESTMENT

Investing in therapy can have long-term benefits for your mental and emotional well-being, which can impact your financial well-being as well. Therapy can help you address underlying issues that may be impacting your financial decisions, such as impulsive spending, fear of failure, or difficulty managing stress.

By working with a therapist, you can develop healthier coping mechanisms, improve your self-awareness and self-esteem, and learn how to effectively communicate and set boundaries in your relationships. These skills can translate into better decision-making, increased productivity, and a stronger ability to manage financial challenges.

Therapy can help you address any mental health issues, such as anxiety or depression, which may be affecting your ability to work, save, or invest effectively. By prioritizing your mental health through therapy, you can build a solid foundation for financial success and overall well-being.

If you are ready to take control of your financial health, Stryker Behavioral Health, Inc is here to help. Individual and group therapy is available to help you improve your financial well-being. Please call or email to schedule a free 15-minute consultation.