Talking About Financial Issues in Therapy

Many people have issues with money, and therapy is an excellent place to discuss various financial issues. Whether you’re dealing with impulsive or compulsive urges to spend or you’re trying to start a new business and are experiencing stress, talking to a therapist can help you. In therapy, you can start to understand your financial habits and work toward developing a good relationship with money and a financial plan. Here are some issues you might consider discussing with a counselor or therapist.

Compulsive spending

If you’re having trouble controlling your urges when it comes to money, it could be helpful to discuss compulsive spending with a therapist. This could be a barrier to you starting or sustaining a business, and it can impact your life and mental health significantly. That’s why a therapist is there to help you understand why you’re spending money and start developing other coping skills so that you don’t hurt yourself by buying things that you don’t need. Many times, money and emotional issues are connected. You might not realize why you’re draining your bank account. A therapist can provide you with emotional insight and assist you in developing strategies to start using your funds wisely.

Saving money

Many individuals want to save money for their future, whether it’s for retirement funding, buying a house, or starting college bank accounts for your kids. Saving comes easily to some, but it can be a challenge for others even if they have the resources. When you talk with your therapist about your struggles with money, you can get to the core issues regarding what stops you from saving. Maybe, you didn’t learn how to manage money as a young adult because your parents didn’t teach you. Perhaps, you’re unable to save because you’re living paycheck to paycheck and feel the pressure as you struggle to survive. A therapist can support you as you develop a plan to save and help you through the emotional roadblocks that might come up along the way. Once you know what your concerns and barriers are, you can build a saving plan for both the short-term and the long-term. You might feel helpless and like saving isn’t a possibility, but therapists understand these challenges and can help you work through them.

Starting a business

Maybe, you’re an entrepreneur and want to start a business or corporation. That’s a daunting task, and there are a lot of financial matters that come with it. It’s important to develop a comprehensive business plan. A large part of that plan will be related to money, which can be stressful. When you talk to a therapist, you can start to plan out what your dreams are and tackle the financial side after that. It’s important to understand why you’re starting this business before you make a financial plan. Once you think about the reason behind your passion, you can start mapping out what you need to start that business and maintain it. A therapist will be there to support you throughout this process. They can also help you with the social anxiety that might come with making business connections.

Financial issues don’t have to be roadblocks

When you talk about financial issues with a licensed therapist, you can start overcoming them and learn about why you’re doing the things you do with money. You can start developing constructive patterns rather than destructive ones. First, a therapist will first help you understand your stress and worry surrounding money, and then they’ll help you develop positive coping skills as opposed to maladaptive issues. If you’re struggling with financial issues, know that it will be okay. A licensed mental health professional can help you work through struggles with money and a wide array of other issues that might arise in your life.

Marie Miguel has been a writing and research expert for nearly a decade, covering a variety of health- related topics. Currently, she is contributing to the expansion and growth of a free online mental health resource with With an interest and dedication to addressing stigmas associated with mental health, she continues to specifically target subjects related to anxiety and depression.

Talking About Financial Issues in Therapy

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