Abstract
While
destructive financial behaviors permeate our culture, the field of psychology
has remained relatively silent on the issue. This article argues for the need
for psychologists to identify disordered money behaviors as treatable
psychological problems and provide the public with effective approaches to
treatment. It describes one such experimental treatment utilizing experiential
therapy and examines treatment outcomes of 33 individuals with problematic
financial behaviors who participated in a 6-day experiential therapy program.
Following treatment, participants showed significant and lasting reductions in
psychological distress, anxiety, and worry about money and finance-related
situations and showed measurable signs of better overall financial health.