A financial therapist can assist you in overcoming any mental obstacles that could be holding you back. However, how can you tell if you need one? Some introspection will be necessary for that.
“Are you confident in your relationship with money?” is the most important question to ask yourself, according to Wasserman. She advised speaking with a financial therapist if the response was negative. “You would seek advice from a professional if you required a relationship, food, or exercise adjustment. Your relationship with money is no different.
Additionally, your body might already know the solution if you’re still not sure. If your financial circumstances are causing you to have headaches, nausea, insomnia, or changes in your appetite, these symptoms may be clear signs that you need expert assistance.
Consulting a financial therapist could be helpful if you:
1. Don’t check the balance in your bank account.
Ignorance can feel like pleasure if you’re feeling bad about your financial status. According to a MarketWatch poll, 42% of individuals are afraid to check their checking account balance.
The issue: Making ill-informed financial decisions can result from not knowing your account balances. Additionally, you may pay needless bank expenses like overdraft and late fees. Additionally, if you don’t keep an eye on your account balances and transactions, you’re more vulnerable to fraud.
2. Argue with your partner over money
If there is financial infidelity in a relationship or if your partner’s financial practices differ from your own, it’s simple to get angry with them.
For the benefit of your relationship and your shared financial future, a therapist may assist you and your spouse in understanding your financial behaviours, their causes, and how to change them.
3. Compulsive gambling or spending
While excessive spending or gambling away your life savings may indicate a more serious emotional problem, these behaviours alone are not always signs that you need help.
After spending money, many people have a sense of comfort or euphoria, but this feeling is frequently fleeting and can cause a severe financial spiral that makes it challenging to save money, pay off debt, and accumulate wealth.
4. Have financial anxiety
Reluctance to spend money might sometimes indicate emotional suffering and the need for a financial counsellor. Your quality of life may suffer if you experience anxiety over spending because you could put off investing in your future or making essential expenditures.
How to locate a financial counsellor
Anxiety or dread should not be brought on by money management. However, letting go of those anxieties and limiting ideas requires a lot of unlearning, which can be challenging to accomplish alone.
You can discover more about your money personality and how particular beliefs affect or improve your financial well-being by working with a financial therapist.
You can search for a qualified financial therapist in your region and refine your results by geography, specialisation, and other criteria by going to the Financial Therapy Association website.
