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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
How To Prevent Unhelpful Personality Traits From Evolving Into Unhelpful Financial Behaviors: The Benefits Of Future Clarity, Simon Andrew Moss, Eraj Ghafoori, Liam Smith
How To Prevent Unhelpful Personality Traits From Evolving Into Unhelpful Financial Behaviors: The Benefits Of Future Clarity, Simon Andrew Moss, Eraj Ghafoori, Liam Smith
Journal of Financial Therapy
Many organizations have implemented programs to improve the financial behavior of impending retirees and other vulnerable demographics. These programs are predicated on the assumption that financial behavior is indeed modifiable. Yet, many enduring traits, such as emotional instability, could promote financial anxiety and provoke imprudent financial behaviors, limiting the utility of these programs. This study, however, tests the possibility that future clarity—the degree to which individuals perceive their future as vivid and certain—could diminish the extent to which emotional instability coincides with financial anxiety and imprudent financial behavior. Specifically, 1516 participants over 50 completed a questionnaire that gauges emotional instability, …
The Impact Of Psychological Trauma On Finance: Narrative Financial Therapy Considerations In Exploring Complex Trauma And Impaired Financial Decision Making, D. Bruce Ross Iii, Ed Coambs
The Impact Of Psychological Trauma On Finance: Narrative Financial Therapy Considerations In Exploring Complex Trauma And Impaired Financial Decision Making, D. Bruce Ross Iii, Ed Coambs
Journal of Financial Therapy
The current paper aims to foster new discussion on the complex, deleterious, and conflated relationship between psychological trauma and financial management processes. Trauma and financial distress are interconnected, affecting the cognitive, behavioral, emotional, and relational aspects of our lives. A case vignette is presented for financial therapists which utilizes an integrated, trauma-informed approach addressing the lasting impact of childhood trauma on financial management behaviors and the client’s life story. Treatment modalities consider narrative financial therapy, four categories of sexual and financial shame, and four phases of trauma restoration. Ethical and practice implications are discussed.