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Money Therapy

By
Services for Real Estate Pros with Casual Uncluttering LLC

Money therapy. No, not retail therapy. The Financial Therapy Association, on its homepage, defines the effort as

"A process informed by both therapeutic and financial competencies that helps people think, feel, communicate, and behave differently with money to improve overall well-being through evidence-based practices and interventions."

The Center for Financial Social Work explains its work as "Education, Motivation and Support to Facilitate the Practice of Financial Social Work. For over twenty years, we have been creating products and resources that improve financial wellbeing and promote financial literacy."

Trauma of Money, unaccredited but well-regarded, teaches "a compassionate approach, delivered through online training, that explores frameworks for healing collective and individual traumas to create financial safety and well-being."

Creighton University, NYU and other academic institutions offer applied behavioral finance courses.

 

People with clutter challenges may also have financial issues. They may overspend, lose bills and therefore not pay on time, they may confuse their worth with the worth of their things. Money therapy may be a tool for examining the struggles.

George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Lauren Williams, CPO money management is a forgotten skill, and needs to be taught at least at the high school level.

Aug 22, 2024 03:32 PM
Lauren Williams, CPO

George Souto Yes!!!!! I started teaching my son financial literacy when he was five, by taking him to a local bead shop, handing him a fistful of change and helping him match values to items he wanted to buy. Taught him risk by helping him bid online on a 26-pound box of loose Lego pieces when he was around eight. That was a win-win in soooooo many ways: it was Goodwill's auction site, he loved (and still loves) Legos, and loose pieces gave him hours of imaginative play. My in-laws bought him some Boeing stock when he was 12 (the four of us had just taken the tour of the plant out here) and taught him how to read the stock pages. Money is a tool, it doesn't have to be frightening or destructive. Lauren

Aug 22, 2024 07:14 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Lauren Williams, CPO ,

I totally agree with George Souto Money management should be taught in HS. My mom use to teach it in her Home Economics class. Money therapy sounds like a tool for examining the struggles people have with always practicing instant gratification in making purchases.

Aug 22, 2024 04:00 PM
Lauren Williams, CPO

Dorie Dillard Austin TX At the workshop I attended where I learned about this, the therapist listed what you've just mentioned as a common reason for people to seek help. Other people are the opposite, they're afraid of spending anything, even on critical items like eye glasses. Other are just carrying around unrealistic or conflicting "rules" about how you spend money. Lauren

Aug 22, 2024 07:17 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

A success-based, school curriculum needs to be brought back to teach young people how to be financially responsible and how to thrive as adults out in the world. Wouldn't trade my education for anything, Lauren!

Aug 22, 2024 06:34 PM
Lauren Williams, CPO

Wanda Kubat-Nerdin - Wanda Can! I feel extremely fortunate for mine as well. Lauren

Aug 22, 2024 07:17 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

It has been ages since we connected or you posted anything, nice to see you back with such a great post, look forward to seeing you on my posts as well, Endre

Aug 22, 2024 10:52 PM
Lauren Williams, CPO

Endre Barath, Jr. Accounting woes have been annihilating my free time. Lauren

Aug 23, 2024 02:10 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

There's a reason money is one of those things that people getting married should discuss PRIOR to marriage. The way we think about and handle money is almost always different than the way our partner thinks about it.

Aug 23, 2024 05:35 AM
Lauren Williams, CPO

Kat Palmiotti Yes!! And consider the messages we get passed down from family, or the horrific consumerism we're surrounded by... Lauren

Aug 23, 2024 02:11 PM