Financial Therapy with Families. Issue 4 (October 2017)

• Record Type: Journal Article
• Authors: Smith, Thomas E.; Richards, Kristin V.; Panisch, Lisa S.; Wilson, Thomas
• Is Part Of: Families in society. Volume 98:Issue 4(2017)
• Page Start: 258
• Page End: 265
• Publication Date: 2017-10
• Subjects: Social service -- Periodicals; Social case work -- Periodicals; Family social work -- Periodicals; Social service -- United States -- Periodicals; Family social work; Social case work; Social service; United States; Periodicals; 362.82097305
• DOI: 10.1606/1044-3894.2017.98.38
• Languages: English
• ISSNs: 1044-3894

Abstract

A manualized form of financial therapy for families is proposed to decrease tensions caused by conflict arising on family members' understanding of money. When used with families, financial therapy goes beyond financial education by addressing individual behaviors and attitudes toward personal finance within the dynamics of a family system. To address a therapist's lack of formal training in family systems and/or financial therapy, a manualized form of financial therapy is introduced. A case example is presented to illustrate the benefits of this approach. This article demonstrates that therapists can use a manualized format of financial therapy for families to promote positive changes in a family's dynamics and behaviors in regards to finances.