Financial therapy: money is more than numbers
Just as we go to a psychologist when we don’t know how to explain what is wrong with us, we can ask a financial therapist for advice on what to do with our money. Financial therapy is a growing speciality and, given the crisis that is coming in 2022, it may be a good idea to relate to money in a healthier way. Lara de Castro, head of agents at 11Onze, explains it to us.
It wasn’t until 2010 that the Financial Therapy Association was created, which aims to establish industry-regulated standards for financial therapy and has more than 200 members around the world. Specifically, financial therapy focuses on helping people with how they feel, how they think and how they interact with money. This service must always be provided by an expert in mental and financial health.
But how do we know if we need the help of a financial therapist? “If we believe we need a re-education in our relationship with money, we will need a financial therapist,” De Castro explains. If we feel this is because we have sometimes established an unhealthy relationship with money, for example, when impulse purchases start to become compulsive. Financial planning and emotional support will be the tandem that will allow us to leave anguish and stress behind. To learn more about financial therapy, watch the video below.
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