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Financial Therapy

Money Scripts 2.0: How They Form

The term money scripts, describing the unconscious beliefs that underlie our financial decisions and behavior, has been used by financial planners and therapists for over 15 years. Since the term (coined by Brad Klontz, Ted Klontz, and I) was first published in my...

Reduce Your Risk For Life-Shattering Financial Crisis

Last week I addressed the gravity of the increased risk of suicide after experiencing a personal financial crisis. This underscores the seriousness with which we all need to approach making financial decisions, especially those involving high-risk speculative...

Financial Crisis and the Risk of Suicide

“I lost over $450,000, I cannot pay the bank, I’ll become homeless. Suicide is the only way out.” This desperate plea summarizes one of the top posts a few months ago on a Reddit forum for the cryptocurrency Terra Luna. Like other cryptocurrencies, it has recently...

Coping With Finances While Coping With Grief

In last week’s column about grief, I suggested that all of our personal losses, such as the death of a loved one, have financial aspects. These may range from a severe reduction in family income because of a divorce or the death of a wage earner, to the complexities...

The Financial Impact of Grief and Loss

One of the emotions—or more accurately, the constellation of many emotions—that financial planners often must help clients deal with is grief. It’s common for people to engage a planner during times of transition and loss such as the death of a parent or spouse....

The Surprising Financial Impact of Mindfulness Meditation

In the financial therapy program that I co-founded in 2007 with Dr. Ted Klontz, we taught and practiced a lot of “mindfulness” meditation. After a meditation we would often ask, “So what does this have to do with money?” During the first part...