You might wonder why a psychologist would talk to a client about money issues, with the exception, of course of talking about not paying fees. However, money issues are really not about the “green stuff” but about whether a person is able to:

• Function productively in the world
• Negotiate effectively on their own behalf
• Accommodate to the realities of life
• Find pleasure in activities and people rather than just the accumulation of stuff
• Delay gratification
• Plan for the future and enjoy the present

I am not the only therapist who asks clients about money. For example, Olivia Mellon, MSW is a nationally known therapist for couples who have “money issues.” She regularly asks her clients about the messages they received about money from their caretakers. She inquires about their first memories regarding money, their beliefs about money, and what their values are about money, debt, and giving to charity.

Lynne Hornyak, PhD, a psychologist and coach with a specialty in money issues suggests that someone could use coaching:

• when they feel money is controlling them,
• when they constantly worry about money,
• when they focus excessively on earning money,
• when they are sabotaging themselves financially,
• and when they have experienced a life or career change which impacts them financially.

What happens in therapy for money issues

• We look at how you feel about money and your life in general.
• We try to the connect the dots over your lifetime to see how you came up with ways of dealing with money that have been ineffective.
• We examine issues of deprivation and of entitlement to see if these are impacting your use of money.
• We come up with new ways that you can find a more fulfilling and satisfying life
• We build your self-esteem and diminish shame so that you can feel less of a need for “stuff.”

I am interviewing now for a therapy group on money issues. Feel free to call me for more information or to schedule an intake. Of course, only those whom I believe could benefit from such a group will be accepted. 

Books for More on Money

Benson, April (Ed.). I Shop, Therefore I Am: Compulsive Buying and the Search for Self. New York: Aronson, 2000.

Clason, George. The Richest Man in Babylon. New York: Signet, 2000.

Gallen, Ron. The Money Trap. New York: Harper, 2002.

Mellon, Olivia. Overcoming Overspending: A Winning Plan for Spenders and Their Partners. 

Mundis, Gerald. How to Get Out of Debt, Stay Out of Debt, and Live Prosperously. New York: Bantam Books, 1990.

Therapy Group for Money Issues

• Support & group accountability
• Group for overspenders & underearners,
• Connect money issues with self-care
• Childhood deprivation and chaos can stop
• Stop self-defeating financial habits
• Build awareness & savings
• Develop plans and a more hopeful future