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African woman going to financial therapy

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Money isn’t everything, but, it can feel like it is when you’re having money problems. A lack of assets, insufficient income, high debt, poor money management skills and lack of financial education were the top issues contributing to financial stress. It is difficult to enjoy a fulfilling, happy life along with good mental and emotional health when you have major financial issues looming over you. It can feel like a weight pressing on your chest at all times.

The truth is that most people will face some financial stress at some point due to things beyond their control. According to the Global Financial Literacy Excellence Center, 60 percent of American adults feel anxiety surrounding their finances. There will always be factors that you cannot influence like your company spontaneously laying off 100 employees or the stock market taking a turn. Financial wellness is about learning what you can control and getting a handle on that. For some people, that isn’t as simple as understanding money – it’s also about understanding their emotional relationship with finances. That’s where a financial therapist comes in. Here’s what to know about financial therapy.


Financial Therapists Are Certified

Consultant Meeting With Client

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In a world of self-proclaimed “counselors” and “coaches,” you can’t take your chances when it comes to your money. Financial therapists are certified by the Financial Therapy Association (FTA). According to their website, the FTA is an “organization comprised of professionals dedicated to the integration of cognitive, emotional, behavioral, relational, and financial aspects of well-being.”

Most financial therapists have a background in financial advising or therapy, and bring that expertise to their work as financial therapists, rounding out their knowledge base to be educated in both areas. In fact, the FTA usually requires applicants to have a bachelor’s degree in either a finance or mental health related field.

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