If your life is one financial challenge after another, financial therapy might be just what the doctor ordered. Over 75% of Americans list money as their primary source of stress. Financial therapy is a growing field and focuses on the emotional and psychological roots of financial behaviors that create financial stress.
For example, someone that grew up in poor surroundings might hoard money and be overly frugal. Overspending can be caused by stress or anxiety.
While some issues may be better left to the professionals, there are many financial issues amenable to self-therapy. After all, many overweight people are able to lose weight without a psychologist, dietitian, and personal trainer.
By addressing the beliefs, thoughts, and habits related to your financial life, it’s possible to bring about real changes.
If you’re not following through on the actions that you know would increase your financial stability, your beliefs are likely to blame.
Beliefs that inhibit financial results can come from many sources:
• Erroneous personal observation
• Childhood trauma related to family finances
• Personal experience throughout life
The source of the ineffective belief doesn’t matter. But recognizing and addressing harmful money beliefs is very important to your financial progress. Beliefs create and limit your reality.
It might only be a few faulty habits that are holding you back from the financial security that you desire.
How exciting is that?