When You Need A Financial Therapist, What Do You Need To Know?

financial therapy money stories Aug 18, 2020

      You may not be familiar with the field of Financial Therapy, or that there are therapists who specifically work with people on their emotions around money. A Certified Financial Therapist must complete formal educational requirements that train them on how to guide their clients in improving their money relationships by understanding their money beliefs. As the client, it is important to understand the different aspects of the therapist’s training before choosing to work with them, so you understand who you are working with actually can resolve the issues you are facing with money. This is important because lots of people will claim to be a “money therapist” but using this title or these words doesn’t actually make someone a formally educated or certified therapist. Let’s explore what actually makes someone a financial therapist.

What is Financial Therapy?  

      I want to start with a brief explanation of what financial therapy is. The field of financial therapy is something I am passionate about. Financial therapy transforms lives; it has profoundly changed my life for the better. I also have the pleasure of seeing my client’s lives change from one of frustration and shame around money to one where they feel a connection with their money, find security, and, even, joy.

Financial therapy uniquely brings together the principles of counseling and psychology and joins them together with the client’s financial lives, including goals and dreams and the ways they connect to money. Together with the client, the therapist helps identify their thoughts and feelings around money and anything else preventing them from achieving those financial goals. Then, they set a plan to get them to that bright financial future of their dreams.

What Sets Financial Therapists Apart?

      To become a Certified Financial Therapist, there is a certification process that includes formal educational requirements. Governed by The Financial Therapy Association, the certification is designed to ensure the integrity within the field for those who offer these unique services. The association, of which I am a board member, is a group of dedicated individuals from the areas of financial planning and mental health, as well as research professionals, all wanting to set the standard for this specialty. With this certification, you can be confident that the therapist is not only legitimately practicing psychology, but that they are serious about helping you to attain better financial well-being.

What Formal Education Do Financial Therapists Receive?

      Many people want to help others with their money situations. hile they mean well and their intentions may be sincere, they can not provide the client with the same results as a financial therapist. For that reason, the certification was put in place so clients can be confident of who they are choosing to work with, what they (the financial therapist) have to offer and be certain their therapist is equipped to address their unique situations.

      This in mind, receiving one’s formal certification is a lengthy process that abides by a determined set of requirements. To attain a Level One certification, the individual must already be either a Certified Financial Planner or a licensed health professional. They then must complete the formal education requirements that include competency training, proven experience in the field, presentations to peers, teaching, and financial planning - and this only names a few.

Work with Someone You Trust Knows Their Stuff

       When working to improve your financial future and well-being, it is important to work with someone you can trust. Someone who is highly educated and skilled. Someone who can understand you and your individual circumstances. A Certified Financial Therapist has dedicated themself to obtaining the education necessary to understand the emotional and financial planning sides of your financial needs. They are committed and passionate about your financial success and helping you reach it. Don’t settle for anyone to take you on your financial journey. Choose someone you know, knows their stuff.

       To read more about this please read my article, What Makes A Financial Therapist on LinkedIn.

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