Social and Behavioral Sciences Commons^™

Building Financial Peace: A Conflict Resolution Framework For Money Arguments, Sarah D. Asebedo

Journal of Financial Therapy

This paper presents a well-known and highly utilized conflict resolution framework from the mediation profession and demonstrates how to apply this framework to money arguments. While conflict resolution skills have been identified as important to communication within the financial planning context, an integrated conflict resolution framework has yet to be recognized and understood within the financial planning literature. This paper aims to fill this gap. Ultimately, both mental health professionals and financial planners can benefit from an interdisciplinary approach to resolving money arguments by combining training in personal financial strategies and conflict resolution principles.

Researcher Profile: An Interview With Sarah Asebedo, Ph.D., Martie Gillen

Journal of Financial Therapy

Sarah Asebedo, Ph.D., CFP^®, is an Assistant Professor of Personal Financial Planning with Texas Tech University. With extensive financial planning practitioner experience, her goal is to connect research and financial planning practice with a focus on the relationship between psychological attributes, financial conflicts, and financial behavior. Her work has been published in the Journal of Financial Planning, Journal of Financial Therapy, Journal of Financial Counseling and Planning, and Financial Planning Review. Asebedo currently serves as President-Elect for the Financial Therapy Association. She earned her Ph.D. in Personal Financial Planning from Kansas State University.

Money And Emerging Adults: A Glimpse Into The Lives Of College Couples’ Financial Management Practices, Jennifer K. Rea, Virginia S. Zuiker, Tai J. Mendenhall

Journal of Financial Therapy

Being in a romantic relationship is a transition that many college students enter while earning a college degree. Twenty-four students between the ages of 19 to 29 years old who self-identified as being in a committed relationship participated in this study. They completed an online survey that included both quantitative and qualitative (open-ended) questions pertaining to money management practices. Key findings suggest that participants believe in communicating about their individual and combined finances so as to prevent or solve financial challenges. They also discussed the importance of having similar perspectives about financial values within their relationship. Financial therapists, counselors, and …

Book Review: The Seven Principles For Making Marriage Work, Neal Van Zutphen

Journal of Financial Therapy

The Seven Principles for Making Marriage Work is a relationship self-help book for individuals who have chosen to be in a relationship and also those who aspire to be in a relationship. This book has proven helpful to those in relationship counseling and coaching professions as well. The book covers why marriages work and why they fail. The seven principles provide the roadmap to ways of being together and methods for resolving conflicts and solving problems, including money.

Editorial, Volume 7, Issue 2, Kristy L. Archuleta

Journal of Financial Therapy

This issue features four articles, two profiles, and one book review. Each article adds a new contribution to the field of financial therapy. First, Dr. Asebedo applies a conflict resolution framework to money arguments. Next, Drs. Rea, Zuiker, and Mendenhall explore financial management practices among emerging adult couples. In the third paper, Drs. Ann Woodyard and Cliff Robb help to add further description of financial satisfaction. Then, Dr. Russell James offers a unique theoretical analysis of mortality salience and financial decisions. This issue also features a practitioner profile of Beth Crittenden and a scholar profile of Sarah Asebedo. Finally, we …

Consideration Of Financial Satisfaction: What Consumers Know, Feel And Do From A Financial Perspective, Ann Sanders Woodyard, Cliff A. Robb

Journal of Financial Therapy

Financial satisfaction has long been considered an important component to consumer life satisfaction and well-being. Using data from the 2012 National Financial Capability Study (NFCS), financial satisfaction is explored in the context of personal characteristics related to financial knowledge (both objective and subjective) as well as self-reported financial behaviors. Ordinary Least Squares Regression is applied to a predictive model of financial satisfaction, and results indicate that measures associated with what people do (behaviors related to recommended practice) and how they feel (subjective knowledge) may be more salient factors to consider with regard to satisfaction than measures related to what individuals …

Practitioner Profile: An Interview With Beth Crittenden, Martie Gillen

Journal of Financial Therapy

Beth Crittenden offers financial wellness coaching to people who want growth both professionally and personally. Beth has been working with finances as a focus since 2009, after training in somatic psychology, healthy communication in relationship, and mindful meditation practices and theory.

What It's Worth: Strengthening The Financial Future Of Families, Communities And The Nation, Cherie Stueve

Journal of Financial Therapy

This book overviews the financial challenges of vulnerable Americans and creative programs that look beyond income as a metric of financial health is divided into four sections. The first section, “Where We Are,” describes the current financial statistics of households by demographic and economic era. The second (and largest) section, “Why Financial Well-Being Matters for All,” is broken into four topics: the economy, financial services system, and community; employment and business; health and social services; and education. Each illustrates the strong role financial well-being plays in other systems at the individual and community level.

Researcher Profile: An Interview With Jorge Ruiz-Menjivar, Jorge Ruiz-Menjivar

Journal of Financial Therapy

Jorge Ruiz-Menjivar is originally from San Salvador, El Salvador, but has had the privilege to live in several Latin American countries (e.g., Nicaragua, Costa Rica, among others), and to travel through many other regions in the world. He obtained a Bachelor’s degree in Accounting at the University of New Orleans-Louisiana State University. Then, he went on to earn a Master’s degree in Personal and Family Financial Planning at the University of Florida under the supervision of Drs. Michael S. Gutter and Martie Gillen. Recently, Jorge finished his Doctoral degree in Financial Planning, Housing and Consumer Economics from the University of …

Practitioner Profile: An Interview With Syble Solomon, Syble Solomon

Journal of Financial Therapy

Syble Solomon is a speaker on the psychology of money and the founder and president of LifeWise Strategies. She is best known for Money Habitudes® a deck of cards (and now an online version) that makes it easy to talk about money and discover what motivates our financial behaviors. Before becoming interested in why people manage money as they do, she had careers in early childhood special education, gerontology and executive coaching. Seemingly unrelated, they all provided experience training, developing educational material and empowering people at all socio-economic levels to work through challenging times and transitions. An excellent background for …

Financial Empowerment And Health Related Quality Of Life In Family Scholar House Participants, Chelsey Franz

Journal of Financial Therapy

Research demonstrates an association between poverty and health. Populations in poverty suffer from poor mental and physical health, and thus, poor health-related quality of life. Research also indicates people living in the lower socio-economic categories experience higher levels of stress that are associated with these health declines. Family Scholar House, a local community intervention designed to alleviate poverty and improve socio-economic status by providing college education and support to single parents, combats these health outcomes by addressing the five social determinants of health (economic stability, education, social and community context, health care, and neighborhood and built environment). Quantitative analysis indicates …

Ethical Issues And Decision Making In Collaborative Financial Therapy, D. Bruce Ross, Jerry Gale, Joseph Goetz

Journal of Financial Therapy

The purpose of this article is to introduce potential ethical challenges that may arise when a financial and mental health professional collaborate to provide financial therapy and recommendations on how to effectively address these concerns. The development of ethical and professional practices requires extensive dialogue from practitioners in the emerging field of financial therapy; however, it is important to first develop an awareness and sensitivity to the ethical and professional issues across disciplines. This article examines the differences and similarities between the codes of ethics of different financial and mental health disciplines, and addresses six core ethical and professional issues: …

Editorial, Volume 7, Issue 1, Kristy L. Archuleta

Journal of Financial Therapy

The Journal of Financial Therapy would not exist without the time and efforts of our excellent reviewers. You may be asking, “what does a reviewer do?” JFT is a unique scholarly publication because papers require the rigor of academic standards, but also must be translatable to non-researchers. It is not uncommon for researchers and practitioners to fail to communicate effectively with one another because the two groups speak what seems like different languages. Therefore, it is the goal of JFT to publish quality scholarly research and to emphasize the practicality of the research.

Book Review: The Little Book Of Behavioral Investing, Nadia Bahadori

Journal of Financial Therapy

The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy, written by James Montier provides his readers with 16 chapters of prevalent behavioral challenges and mental mistakes that are commonly experienced by everyday investors.

Researcher Profile: An Interview With Virginia Solis Zuiker, Ph.D., Virginia Solis Zuiker

Journal of Financial Therapy

Virginia Solis Zuiker is an Associate Professor in the Department of Family Social Science at the University of Minnesota. She teaches courses on personal and family finance, family financial counseling, family resource management, economic perspectives of families, and family decision-making. Her scholarly research focus is in the area of economic well-being of families with particular interest in self-employment and family-owned businesses. Her research focuses on the Hispanic family life and she is the author of “Hispanic Self-Employment in the Southwest: Rising Above the Threshold of Poverty,” (Garland Publishing, 1997). She received her B.S. from the University of North Texas, an …

Practitioner Profile: An Interview With Anne Brennan Malec, Ph.D., Anne Brennan Malec

Journal of Financial Therapy

Dr. Anne Brennan Malec is the founder and managing partner of Symmetry Counseling, a counseling, coaching, and psychotherapy group practice located in downtown Chicago. She has been the driving force behind Symmetry Counseling’s success – what started in 2011 with six offices and five counselors now houses over 25 clinicians.

Pedagogical Experience Of Teaching Financial Coaching, Lucy M. Delgadillo Ph.D

Journal of Financial Therapy

This study reports on the pedagogical experience of teaching a financial coaching course to personal and family finance undergraduate students at XXXX State University. The paper describes the conceptualization of the class, including theoretical frameworks, ethical considerations, practitioner’s models, learning objectives, and competencies. The assessment of the course provided data used by the instructor to refine and adjust future course content and assignments. Quantitative data was collected in pre- and post-tests assessments. The quantitative assessment shows statistically significant gains in specific coaching skills and competencies. The qualitative assessment indicates that, at the end of the course, students had better understanding …

Financial Enmeshment: Untangling The Web, Randy Kemnitz, Bradley Klontz, Kristy L. Archuleta

Journal of Financial Therapy

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Children learn through observing and interacting with their parents. Much of what children learn about money comes from these observations and interactions. An area of concern in parent – child relationships is the impact of boundaries and roles. Parents whose boundaries with their children are rigid and inflexible do not prepare their children to effectively deal with stress in their lives. Similarly, parents whose boundaries are too flexible may impede their children’s ability to develop appropriate coping skills. This is true of their development of personal finance, money, consumption, and debt coping skills. Financial enmeshment occurs when parents involve …

Internal Consistency And Convergent Validity Of The Klontz Money Behavior Inventory (Kmbi), Colby D. Taylor, Bradley Klontz, Sonya L. Britt

Journal of Financial Therapy

The Klontz Money Behavior Inventory (KMBI) is a standalone, multi-scale measure than can screen for the presence of eight distinct money disorders. Given the well-established relationship between mental health and financial behaviors, results from the KMBI can be used to inform both mental health care professionals and financial planners. The present study examined the internal consistency and convergent validity of the KMBI, through comparison with similar measures, among a sample of college students (n = 232). Results indicate that the KMBI demonstrates acceptable internal consistency reliability and some convergence for most subscales when compared to other analogous measures. These …

Reliability And Convergent Validity Of The Klontz Money Script Inventory-Revised (Kmsi-R), Colby D. Taylor, Bradley Klontz, Sonya L. Britt

Journal of Financial Therapy

Few contemporary, empirically-based instruments exist to assess attitudes and beliefs about money despite a large research base linking mental health outcomes to financial beliefs. An abbreviated form of the Klontz Money Script Inventory (KMSI), the Klontz Money Script Inventory-Revised (KMSI-R), has been developed to inform mental health practitioners and financial advisors about the money attitudes and beliefs of their clients using an empirically-based instrument. This study examined the technical adequacy of the KMSI-R among a sample of college students (n = 326). Results indicate high reliability for the KMSI-R as well as weak-to-moderate positive correlations when compared to the …

Editorial Volume 6, Issue 2, Kristy L. Archuleta

Journal of Financial Therapy

Money scripts, money behaviors, money disorders, and financial coaching have been seen in recent popular press. If you are reading this issue, you are probably aware that continued empirical research in these areas is needed. I am pleased to introduce the articles related to these topics in this issue of the Journal of Financial Therapy.