Financial Therapy Services
Questions to ask when it comes to money?
Do you feel guilty about spending your hard-earned money?
Is your financial situation wreaking havoc in your life or causing extreme emotions?
Do you constantly make excuses for overspending and don’t know how to curb the problem?
If your answer to any of these questions is yes, there is a good chance you are in dire need of financial therapy.
Work with an expert
A Financial Therapist to Help With Emotional Support to make better financial decisions.
As a relatively new field that combines financial planning with mental wellbeing, this form of counseling helps people understand their relationship with money and how their behaviors and thought patterns might affect their financial decisions. It also prevents people from making the same mistakes repeatedly by providing them with a complete picture of their finances and how their spending (or hoarding) habits impact other aspects of their lives. This therapy can help reduce financial anxiety by helping people to improve their financial habits.
Research has shown that the emotional part of our brain governs approximately 90% of our financial decisions. In other words, we are more likely to spend, invest, or save money based on how we are feeling at the moment. The way in which money affects how people think feel, or even how they act can cause them to become trapped in poor financial behaviors. Fortunately, financial therapy can help you break out of this unhealthy cycle by enabling you to dig a little deeper into the source of conflict and figure out ways to rectify the situation and improve your personal finance.
These mental health professionals can help you to discover any financial trauma you have suffered and help you to see how this affects how you feel and behave concerning money. Then, financial therapists can help you to improve your situation and reduce your financial stress.
Whether you are living paycheck to paycheck despite holding a stable job for over a decade, or you have accumulated a significant amount of debt that continues to increase at an accelerated pace, turning to a certified financial therapist for advice can undoubtedly change your life, thus improving your financial behaviors and your financial health.
Rick Kahler, CFP®, CFT-I™
How Are Financial Therapists Different From Financial Advisors?
Contrary to popular opinion, financial advisors and financial therapists are not the same.
Financial advisors are experienced professionals, usually with a degree in finance or a similar field, committed to helping their clients manage their money by learning about their specific situations. Their work is not limited to drafting financial plans, as they also assist in investment and wealth management, retirement planning, brokering the purchase of stocks, creating tax plans, and more.
On the other hand, financial therapists are certified individuals who provide their clients with the emotional support they may require to make better financial decisions. These professional counselors can provide you with all the tools and resources you need to learn about your current relationship with money and explore the factors that led to your present circumstances. They also use clinically proven methods to develop a personalized process to reshape your subconscious assumptions and encourage you to move toward financial security and prosperity.
Signs you may need Financial Therapy
- Having an unhealthy relationship with money is the top reason to consult with a financial therapist.
- We have rounded up some of the most common red flags that may show that you may be experiencing anxiety about spending, saving, and budgeting.
- You have a high-paying job, yet you always worry about not having enough money.
- Spending money on your basic needs and necessities makes you feel overwhelmed and guilty.
- You spend money frivolously and believe it is not your fault when you have nothing left at the end of the month.
- You have accumulated a lot of credit card debt and don’t know how you will pay it.
- Spending money seems like the only way you can feel good about yourself.
- You either avoid talking about money or have a negative outlook on your financial prospects.
- You constantly struggle to pay your rent, mortgage, or utility bills on time.
- You are addicted to gambling or shopping.
- You have developed a habit of hiding your finances from your partner or parents.
Finding the right financial therapist can be a tall order. You need someone who has a deep understanding of human nature and can help build trust, which is essential to developing a long-lasting relationship.
Rick Kahler, the founder of Kahler Financial Group, can help you bridge the gap between your money and emotions through his groundbreaking Financial Therapy Podcast. As a member of the Financial Therapy Association FTA, a Certified Financial Transitionist®, and a Certified Internal Family Systems Practitioner, Kahler can assist you in overcoming your money problems for a happier future.