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Editorial Volume 6, Issue 2, Kristy L. Archuleta Mar 2016

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.


Book Review: Cfp Board Financial Planning Competency Handbook, Jorge Ruiz-Menjivar Jul 2015

Book Review: Cfp Board Financial Planning Competency Handbook, Jorge Ruiz-Menjivar

Journal of Financial Therapy

The CFP Board Financial Planning Competency Handbook (2013) is reviewed as a resource that extends beyond financial planning to other helping professionals who work with money related issues.


Practitioner Profile: An Interview With Andrea Vining, Andrea Vining Jul 2015

Practitioner Profile: An Interview With Andrea Vining, Andrea Vining

Journal of Financial Therapy

Andrea Vining is a Financial Advisor at Morgan Stanley in Pasadena, California who was named to the Firm’s Pacesetter’s Club in 2015, a global recognition program for Financial Advisors who, within their first five years, demonstrate the highest professional standards and first class client service. She holds a Bachelor of Arts degree in Literature from the University of California at Santa Cruz and her interest in the arts is personal and life-long. She studied Jewelry Design & Fabrication at the Gemological Institute of America in Carlsbad, CA and is also a certified bench jeweler. She and her colleagues are passionate …


Researcher Profile: An Interview With Axton Betz-Hamilton, Axton Betz-Hamilton Jul 2015

Researcher Profile: An Interview With Axton Betz-Hamilton, Axton Betz-Hamilton

Journal of Financial Therapy

Dr. Axton Betz-Hamilton teaches consumer studies courses at Eastern Illinois University, including Personal and Family Finance, Housing, and Consumer Issues. She conducts research on identity theft as well as financial abuse within families.


The Theory Of Planned Behavior And The Earned Income Tax Credit, Lloyd Zimmerman, Anthony Canale, Sonya L. Britt, Martin Seay Jul 2015

The Theory Of Planned Behavior And The Earned Income Tax Credit, Lloyd Zimmerman, Anthony Canale, Sonya L. Britt, Martin Seay

Journal of Financial Therapy

The Earned Income Tax Credit (EITC) seeks to reduce poverty and provide the resources necessary for an individual to become self-sufficient. The EITC achieves this annually by lifting millions of households above the poverty level through income supplementation. However, recent evidence suggests that the long-term upward economic mobility provided by the EITC in practice is limited. To investigate the factors associated with achieving this financial independence, this study utilized the Theory of Planned Behavior to determine if (a) attitudes—as measured by time preference and self-esteem, (b) subjective norms—as measured by education, parents’ poverty level or work status, and religiosity, and/or …


Three Interventions For Financial Therapy: Fostering An Examination Of Financial Behaviors And Beliefs, Rebekah J. Nelson, Thomas E. Smith, Victoria M. Shelton, Kristin V. Richards Jul 2015

Three Interventions For Financial Therapy: Fostering An Examination Of Financial Behaviors And Beliefs, Rebekah J. Nelson, Thomas E. Smith, Victoria M. Shelton, Kristin V. Richards

Journal of Financial Therapy

Three interventions that address the emotional components of handling finances are proposed. Drawn from a stepwise model of financial therapy, the three interventions introduced here have the specific aim of incorporating the emotional attributes of traditional financial behaviors and beliefs. First, the Financial Genogram identifies family of origin issues that may affect financial behaviors; second, the Financial Landscape intervention is used when emotional stress occurs in collecting and examining financial documents; and third, the Financial Mirror broadens clients’ perspectives of their financial behaviors. Issues in future research and implementation of the Five Step model are addressed in treating financially distressed …


The Financial Health Of Mental Health Professionals, Sonya L. Britt, Bradley Klontz, Racquel Tibbetts, Linda Leitz Jul 2015

The Financial Health Of Mental Health Professionals, Sonya L. Britt, Bradley Klontz, Racquel Tibbetts, Linda Leitz

Journal of Financial Therapy

Recent research has suggested that mental health professionals may be at greater risk of endorsing money scripts associated with lower income, lower net worth, and problematic financial behaviors. This study more closely examined the financial health of mental health professionals using the Klontz-Britt Financial Health Scale (FHS). Data was collected from 264 individuals recruited through financial seminars given by the researchers and through social media. Results indicated that when compared to other occupations, mental health professionals report significantly lower levels of financial health. Regardless of occupation, money status and money worship scripts were associated with lower levels of financial health, …


Solution Focused Financial Therapy: A Brief Report Of A Pilot Study, Kristy L. Archuleta, Emily A. Burr, Mary Bell Carlson, Jurdene Ingram, Laura Irwin Kruger, John Grable, Megan Ford Jul 2015

Solution Focused Financial Therapy: A Brief Report Of A Pilot Study, Kristy L. Archuleta, Emily A. Burr, Mary Bell Carlson, Jurdene Ingram, Laura Irwin Kruger, John Grable, Megan Ford

Journal of Financial Therapy

The financial counseling, financial planning, and financial therapy fields are hampered by a conceptual and empirical paucity of clinical and experimental evidence-based research. In an attempt to decrease this gap in the literature, a pilot study was developed to test the implementation of a solution-focused financial therapy client intervention approach, in which solution-focused therapy techniques were applied in a financial counseling setting. This paper reports findings from a clinical intervention study of college students (N = 8) who presented a variety of financial issues related to budgeting, investing, and debt repayment problems. Data were gathered prior to the start of …


Editorial Volume 6, Issue 1, Martie Gillen Jul 2015

Editorial Volume 6, Issue 1, Martie Gillen

Journal of Financial Therapy

The editorial introduces Dr. Martie Gillen as the associate editor of book reviews and professional profiles for the Journal of Financial Therapy. The editorial overviews the empirical research and theoretical oriented manuscripts along with the professional profiles and book reviews featured in volume 6, issue 1 of the Journal of Financial Therapy.


Practitioner Profile: An Interview With April Benson, Ph.D., April Benson Feb 2015

Practitioner Profile: An Interview With April Benson, Ph.D., April Benson

Journal of Financial Therapy

Dr. April Lane Benson is a nationally known psychologist specializing in the study and treatment of compulsive buying disorder. Dr. Benson is the editor of “I Shop, Therefore I Am: Compulsive Buying and the Search for Self” (2000), the first book in English for mental health professionals about compulsive buying disorder. Her second book, “To Buy or Not to Buy: Why We Overshop and How to Stop” (2008) presents the Stopping Overshopping model of treatment. A pilot randomized controlled trial on the efficacy of this treatment model was recently published in the Journal of Groups in Addiction & Recovery. Maintaining …


Researcher Profile: An Interview With Jodi Letkiewicz, Ph.D., Jodi Letkiewicz Feb 2015

Researcher Profile: An Interview With Jodi Letkiewicz, Ph.D., Jodi Letkiewicz

Journal of Financial Therapy

Jodi Letkiewicz, Ph.D., is an assistant professor of finance at York University in Toronto, Ontario. She teaches in the Certified Financial Planner® Core Curriculum program preparing undergraduate students for the Canadian CFP® certification and conducts research in several areas of personal finance and consumer decision-making, including behavioral aspects influencing the decision to seek financial help, how personality traits affect financial decision-making, and the financial state of young adults, including the impact student loans have on overall well-being and financial milestones early in their adult life. Dr. Letkiewicz’s goal is to increase financial well-being in the general public, which …


Lean In: Women, Work, And The Will To Lead, Amanda Blanco Feb 2015

Lean In: Women, Work, And The Will To Lead, Amanda Blanco

Journal of Financial Therapy

Lean In: Women, Work, and the Will to Lead is a self-proclaimed “sort of feminist manifesto” written to empower women and men. Sandberg gives insight into how to overcome and help others overcome the internal and external obstacles that may hinder success. This book is recommended for women in the financial services field, as women are underrepresented in certain segments of financial services.


Sibling Position And Risk Attitudes: Is Being An Only Child Associated With A Person’S Risk Tolerance?, Jennifer M. Brown M.S., John E. Grable Ph.D., Cfp® Feb 2015

Sibling Position And Risk Attitudes: Is Being An Only Child Associated With A Person’S Risk Tolerance?, Jennifer M. Brown M.S., John E. Grable Ph.D., Cfp®

Journal of Financial Therapy

The influence of birth order on personality has been studied for several decades, but little research has been conducted on the association between sibling position and risk tolerance. The purpose of this study was to examine the relationship between being an only child and risk-taking attitudes. Data from the 2010 National Longitudinal Survey of Youth, 1979 sample was used to test the hypotheses that only children and first borns are similar, only children exhibit a lower risk tolerance when compared to those with siblings, and only children exhibit a lower risk tolerance when compared to those with siblings when first …


Financial Anxiety, Physiological Arousal, And Planning Intention, John Grable, Wookjae Heo, Abed Rabbani Feb 2015

Financial Anxiety, Physiological Arousal, And Planning Intention, John Grable, Wookjae Heo, Abed Rabbani

Journal of Financial Therapy

Results from this exploratory clinical study indicate that financial anxiety—holding an unhealthy attitude about one’s financial situation—and physiological arousal—the physical precursor to behavior—play important roles in shaping consumer intention to engage in future financial planning activity. Findings suggest that those who are most likely to engage the services of a financial adviser exhibit low levels of financial anxiety and moderate to high levels of physiological arousal. The least likely to seek the help of a financial adviser are those who exhibit high financial anxiety and low physiological arousal. Results support findings documented in the literature that high anxiety levels often …


Editorial, Volume 5, Issue 2, Kristy L. Archuleta Feb 2015

Editorial, Volume 5, Issue 2, Kristy L. Archuleta

Journal of Financial Therapy

This issue’s editorial is inspired by the importance of practitioners’ involvement in the peer review process for a scholarly publication like the Journal of Financial Therapy.


Book Review: It's Not You, It's The Dishes: How To Minimize Conflict And Maximize Happiness In Your Relationship, Derek Lawson Aug 2014

Book Review: It's Not You, It's The Dishes: How To Minimize Conflict And Maximize Happiness In Your Relationship, Derek Lawson

Journal of Financial Therapy

It’s Not You, It’s The Dishes brings economic principles and theory into the married life of couples. The authors simplify economics by providing fundamental concepts while removing technical jargon in a funny, yet intuitive way. Readers are introduced to the basics of comparative advantage, game theory, and eight other economic principles, all while learning lessons on how to resourcefully allocate their limited units of time, money, and energy to yield a better return on their biggest investment of their lives, their marriage. At its core, this is a self-help book aimed at married couples. Nevertheless, financial professionals and academics may …


Practitioner Profile: An Interview With Reeta Wolfsohn, Cmsw, Reeta Wolfsohn Aug 2014

Practitioner Profile: An Interview With Reeta Wolfsohn, Cmsw, Reeta Wolfsohn

Journal of Financial Therapy

Reeta Wolfsohn, CMSW, began practicing financial therapy in 1997. At the time, she didn’t call what she did by that name, but her work specifically addressed the financial issues and problems of her clients. Early on in her work, Reeta recognized clients wanted to take control of their money and their lives, but struggled not only with the shame, guilt, worry, and stress of debt, but also with the poor sense of self, and low self-confidence and self-esteem which inevitably accompanied it. Realizing clients needed more help than regularly scheduled therapy sessions, she began developing financial educational materials and psychosocial …


Researcher Profile: An Interview With John E. Grable, Ph.D., Cfp(R), John Grable Aug 2014

Researcher Profile: An Interview With John E. Grable, Ph.D., Cfp(R), John Grable

Journal of Financial Therapy

John E. Grable, Ph.D., CFP(R) teaches and conducts research in the Certified Financial Planner(TM) Board of Standards undergraduate and graduate programs at the University of Georgia. Prior to entering the academic profession, he worked as a pension/benefits administrator and later as a Registered Investment Advisor in an asset management firm. He served as the founding editor for the Journal of Personal Finance and as the co-founding editor of the Journal of Financial Therapy. His research interests include financial risk-tolerance assessment, psychophysiological economics, and financial planning help-seeking behavior. Dr. Grable has published nearly 100 peer-reviewed papers, co-authored two financial …


“Where I’M Coming From”: A Discourse Analysis Of Financial Advice Media, Tanya E. Mudry, Ines Sametband, Tom Strong, Dan Wulff, Jennifer Michel, Sally St. George Aug 2014

“Where I’M Coming From”: A Discourse Analysis Of Financial Advice Media, Tanya E. Mudry, Ines Sametband, Tom Strong, Dan Wulff, Jennifer Michel, Sally St. George

Journal of Financial Therapy

In this paper we conceptualize different understandings and positions taken in conflicts over finances in family and couple relationships. We see these as informed by discourses found in popular and professional media. Discourses, as we describe them, are cultural ways of understanding and acting – where “we are coming from,” in this case, relates to finances and financial management. We turn to various media (magazine advice articles, self-help books, professional and research literatures) using discourse analysis to identify distinct discourses regarding how finances are to be regarded and managed. We then link these discourses to discourse positions, or positionings, that …


Moneygrams: Recalled Childhood Memories About Money And Adult Money Pathology, Adrian Furnham, Sophie Von Stumm, Rebecca Milner Aug 2014

Moneygrams: Recalled Childhood Memories About Money And Adult Money Pathology, Adrian Furnham, Sophie Von Stumm, Rebecca Milner

Journal of Financial Therapy

In this study 512 adults completed two questionnaires. One questionnaire was devised specifically for this study concerning childhood memories of parental beliefs and behaviours with respect to money (i.e moneygrams)/ The second questionnaire established a measure of “money pathology” (Forman, 1987). The moneygram questionnaire was based on clinical cases and idiographic studies on money pathology. Around a fifth of the items showed significant sex differences. Factor analysis highlighted one clear factor, namely “money secrecy” - which was associated with greater levels of spending money pathology in adulthood. In women, but not in men, higher family money secrecy was significantly associated …


Editorial, Volume 5, Issue 1, Kristy L. Archuleta Aug 2014

Editorial, Volume 5, Issue 1, Kristy L. Archuleta

Journal of Financial Therapy

Welcome to Volume 5, Issue 1 of the Journal of Financial Therapy! In this issue, four scholarly papers are presented along with two profiles and a book review. These four papers address very important issues, such as mental health therapists’ competency in working with financial issues, financial stress of college students, parental messages about money, and financial advice media.


Book Review: How To Give Financial Advice To Couples, Alycia Degraff, D. Bruce Ross Dec 2013

Book Review: How To Give Financial Advice To Couples, Alycia Degraff, D. Bruce Ross

Journal of Financial Therapy

How to Give Financial Advice to Couples is a financial advisor’s must-read text. Kingsbury allows the reader to become familiar with the daunting area of couple dynamics in this unintimidating and easy read.


Narrative Financial Therapy: Integrating A Financial Planning Approach With Therapeutic Theory, Megan A. Mccoy, D. Bruce Ross, Joseph W. Goetz Dec 2013

Narrative Financial Therapy: Integrating A Financial Planning Approach With Therapeutic Theory, Megan A. Mccoy, D. Bruce Ross, Joseph W. Goetz

Journal of Financial Therapy

The article serves as one of the first attempts to develop an integrated theoretical approach to financial therapy that can be used by practitioners from multiple disciplines. The presented approach integrates the components of the six-step financial planning process with components of empirically-supported therapeutic methods. This integration provides the foundation for a manualized approach to financial therapy, shaped by the writings of narrative theorists and select cognitive-behavioral interventions that can be used both by mental health and financial professionals.


2013 Membership Profile Of The Financial Therapy Association: A Strategic Planning Report, Sarah Asebedo, Megan A. Mccoy, Kristy L. Archuleta Dec 2013

2013 Membership Profile Of The Financial Therapy Association: A Strategic Planning Report, Sarah Asebedo, Megan A. Mccoy, Kristy L. Archuleta

Journal of Financial Therapy

A second profile of the Financial Therapy Association (FTA) membership was conducted to continue the development of financial therapy as a new area of practice and study. The FTA was established in 2010 as an effort to bring together practitioners and researchers from diverse disciplines to share in a common vision of financial therapy. This profile report depicts the demographic profile (e.g., age, education, gender, occupation, income) and perspectives of members who participated in the survey commissioned by the FTA Strategic Planning Committee in 2013. The results of the membership profile survey highlight the future directions of and the challenges …


Journal Of Financial Therapy Editorial, Volume 4, Issue 2, Kristy L. Archuleta Dec 2013

Journal Of Financial Therapy Editorial, Volume 4, Issue 2, Kristy L. Archuleta

Journal of Financial Therapy

This is the editorial for Volume 4, Issue 2, featuring the 2013 Financial Therapy Association membership profile, articles on narrative financial therapy and Hoarding Disorder, two professional financial therapy profiles, and a book review.


Hoarding Disorder: It’S More Than Just An Obsession - Implications For Financial Therapists And Planners, Anthony Canale, Bradley Klontz Dec 2013

Hoarding Disorder: It’S More Than Just An Obsession - Implications For Financial Therapists And Planners, Anthony Canale, Bradley Klontz

Journal of Financial Therapy

Compulsive hoarders feel emotional attachments to their money and possessions, making it difficult for them to spend or discard accumulated items. Traditionally, hoarding has been seen as a symptom of Obsessive Compulsive Disorder (OCD) or Obsessive Compulsive Personality Disorder (OCPD). However, hoarding behavior can be a problem in its own right, without someone meeting the diagnostic criteria for OCD or OCPD. Despite being a mental health disorder that poses a serious public health problem, social costs to the public, and strain on families, there is little empirical work that has examined Hoarding Disorder (HD) from a financial perspective. As with …


Practitioner Profile: An Interview With Amanda Clayman, Lmsw, Cfsw, Amanda Clayman Dec 2013

Practitioner Profile: An Interview With Amanda Clayman, Lmsw, Cfsw, Amanda Clayman

Journal of Financial Therapy

Amanda Clayman, is a Licensed Master of Social Work and a Certified Financial Social Worker who helps individuals, couples, and families bring money into balance. Since 2006, Amanda has led the Financial Wellness Program at The Actors Fund, a national non-profit human services agency that supports professionals in performing arts and entertainment. She maintains a private financial wellness counseling practice in New York City and is a public speaker on life and money topics. Amanda's work has been featured in media outlets, such as the New York Times, the Wall Street Journal, SELF magazine, REAL SIMPLE magazine, Women's Health, Parenting, …


Researcher Profile: An Interview With Russell James, Jd, Phd, Cfp(R), Russell James Dec 2013

Researcher Profile: An Interview With Russell James, Jd, Phd, Cfp(R), Russell James

Journal of Financial Therapy

Russell James is a professor and the CH Foundation Chair in Personal Financial Planning in the Department of Personal Financial Planning at Texas Tech University, where he is also the Director of Graduate Studies in Charitable Financial Planning. His research is focused on encouraging generosity and satisfaction in financial decision-making.


Book Review: "Financial Therapy: 5 Steps Toward Financial Freedom, Megan Mccoy, D. Bruce Ross Jan 2013

Book Review: "Financial Therapy: 5 Steps Toward Financial Freedom, Megan Mccoy, D. Bruce Ross

Journal of Financial Therapy

Financial Therapy: 5 Steps Toward Financial Freedom and its accompanying workbook, Guide to Financial Therapy Forms and Handouts: 5 Steps Toward Financial Freedom, was created to provide an intervention model to help clients become more financially literate and protect them from financial predators.


A Therapist’S Perspective Of A Financial Planning Course: Implications For Financial Therapy Education And Trainings, Megan Ann Mccoy, Jerry Gale, Megan Ford, Ronald G. Mccoy Ii Jan 2013

A Therapist’S Perspective Of A Financial Planning Course: Implications For Financial Therapy Education And Trainings, Megan Ann Mccoy, Jerry Gale, Megan Ford, Ronald G. Mccoy Ii

Journal of Financial Therapy

This paper presents the autoethnography of a doctoral Marriage and Family Therapy (MFT) student studying finances in a graduate course. A dataset in the form of field notes was created through recording observations and reflective journaling during the 15 week financial planning course. This data set included observations and insights on various skills and knowledge that would be helpful for conducting financial therapy, the professional and personal growth of a therapist integrating finances into her clinical work, and evaluations regarding how financial courses can be beneficial for therapists and planners who are interested in the interaction between relational and financial …