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Journal of Financial Therapy

2015

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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.

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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 …

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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.

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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 …

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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 …

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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, …

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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 …

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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.

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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 …

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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 …

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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.

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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 …

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Financial Credit Outcomes Of Ida Participation: Longitudinal Findings, Julie Birkenmaier, Jami Curley, Patrick Kelly Feb 2015

Financial Credit Outcomes Of Ida Participation: Longitudinal Findings, Julie Birkenmaier, Jami Curley, Patrick Kelly

Journal of Financial Therapy

Financially vulnerable families often struggle with low credit scores. Thus, improved participant credit is often a goal of asset development programs, such as the Individual Development Account (IDA) program, but little is known about the long-term credit outcomes of participation. This article reports the final results of a three-year longitudinal exploratory study of credit outcomes for IDA participants. Using a convenience sample of IDA participants and non-participants (N = 164), data were analyzed using nonparametric and Chi-square for independence tests. Results indicate that participant credit scores improvements are achieved and maintained. Credit score is not a meaningful indicator of program …

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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 …

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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.

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