Financial Therapy: “crowd-sourcing” family money tips

We are told many contradictory things about money that result in complicating our thoughts, feelings and behaviors. Here is an entertaining article that describes money tips from the New York Times readers’ ideas on managing family money and keeping families together.

“First we’re told that the best things in life are free. Then we’re told that you get what you pay for.”

“First we’re told that money talks and makes the world go ’round. Then we’re told that money isn’t everything and can’t buy happiness.”

“Should we conserve money, because a fool and his money are soon parted? Or should we spend it, because you can’t take it with you?”

“Clearly, we have complicated feelings about money.”

Financial Therapy with Elaine Korngold

Most therapists are trained to talk about issues such as sexual behavior or substance abuse eating, but not about financial issues and their significance. This is despite the fact that couples rank money as the top problem prior to marriage, and in the early stages of marriage. Money is one of the main reasons that couples argue or divorce.

This is where I can help. My professional background and my training give me a unique perspective on how money impacts individuals and couples. Frequently, it is not the lack of money that creates stress and anxiety, but how people mismanage their finances. I can help you clarify your values around money, identify the messages you received from your family, and understand what drives your money behaviors. For couples, I integrate Financial Therapy with Gottman Method Couples Therapy to help couples communicate more constructively and develop tactical skills to foster a healthy financial partnership. For compulsive behaviors related to money, such as shopping addiction or gambling, I offer Brainspotting therapy for addiction.

In my private practice I encourage clients to explore how their finances affect their emotional well-being through discussions about budgets, financial values, and core beliefs about money and spending. Research indicates that good financial health is important to reducing stress and increasing stability and satisfaction. With counseling, clients can begin addressing and resolving complex issues and emotions that manifest when they encounter financial stresses.