What is Financial Therapy?
Whether you are wealthy or living paycheck to paycheck, our behaviors surrounding money can be a source of great pain and stress. If this sounds like you, know that you are not alone. When your financial behavior is in need of a change, it may not be enough to increase your technical knowledge about money and finance. This is where financial therapy can help. You can learn to better deal with your emotions relating to money, and it can teach you to approach big money decisions more pragmatically.
When Should You Seek Out Financial Therapy?
Most people would assume financial therapy is for those who have trouble budgeting, have overwhelming amounts of credit card debt, or those who are continually spending more than they have. However, it can also be helpful to those who refuse to treat themselves and take being frugal to a negative place. Financial therapy is similar to regular therapy in a lot of ways. Your financial therapist will try to get to the bottom of what causes your problems with money. Some of the questions they might ask include:
- What was your relationship with money growing up?
- What do you hope to achieve in your financial future?
- Do you and your partner/spouse have frequent disagreements or arguments about money?
It usually takes a few sessions with a financial therapist to get a handle on how best to deal with your money problems. Using their fiscal expertise and a little bit of psychology, they can get you on a better path going forward.
If you need to get to the bottom of your financial issues, the team at The Alexandrite Group is ready to help you and your family. Contact us today to schedule a consultation and to talk about getting started.