47% of Americans would not be able to come up with $400 in case of an emergency. Admitting to financial insecurity may be more embarrassing than sexual impotence. Much of American middle class is living paycheck to paycheck. “To struggle financially is a source of shame, a daily humiliation—even a form of social suicide. Silence is the only protection.” 65% of Americans ages 25 to 65 are lacking understanding of fundamental financial principles, such as compound interest, risk diversification, and the effects of inflation, and these gaps in knowledge correlates highly with financial distress.
https://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/
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.
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. There no need to continue living paycheck to paycheck. Contact me to learn more.