Money Therapist?

September 23, 2011 10:24 AM

Is there such a thing as a therapist who deals specifically with anxiety stemming from money matters?

My boyfriend wants to find a therapist who deals with anxiety related specifically to debt/money issues/long term underemployment. His anxiety is due to long term underemployment and resultant debt (he is currently employed). The therapy would need to address sever anxiety he has regarding his debt. We've found 'credit counseling' and 'debt consolidating' via Google but that isn't it. What he needs is less 'Chapter 11' and more mental/emotional support. If anything like this exists (and I realize it might not)--or, if you know of anyone or any organization that sounds appropriate who is located in Chicago, please let me know or memail me if you prefer.

Thank you!

posted by marimeko to health & fitness (10 answers total)

Sounds like something people get cured in Dave Ramsey's program. It is action-oriented, though, so it would deal with the anxiety by solving the debt problem and teaching a healthier attitude about money. Not for everyone.
posted by michaelh at 10:35 AM on September 23, 2011

Is the problem that he wants to fix his problems, or just how he feels about his problems?
posted by delmoi at 10:49 AM on September 23, 2011

In NY, there are many that specialize in money issues and anxieties. I have a friend who is a therapist and his clientele has naturally evolved into almost all people dealing with money issues. His office is in Mid-town. I am sure there are folks like that in Chicago. Maybe look for therapists with offices downtown by the Board of Trade or near the Merc.
posted by JohnnyGunn at 10:57 AM on September 23, 2011

There are a small number of people who identify themselves as financial therapists. It is a small and new field. See:

http://www.foxbusiness.com/personal-finance/2011/03/16/time-consider-financial-therapy/
http://www.financialtherapist.org/
http://www.financialtherapyassociation.org/

Not sure if there are any such therapists in Toronto, but some surfing around these sites might help...
posted by ManInSuit at 10:57 AM on September 23, 2011

Is the problem that he wants to fix his problems, or just how he feels about his problems?

Both, but I think his anxiety has to be dealt with first for him to deal with debt.
posted by marimeko at 10:58 AM on September 23, 2011

Not sure if there are any such therapists in Toronto
Whoops. I meant in Chigago, where you are. There is at least one in Toronto, where I am, which is how I know about it....
posted by ManInSuit at 10:59 AM on September 23, 2011

I think you can deal with both of these at the same time, but maybe by consulting with two folks instead of one. Psychotherapists who do a lot of work with anxiety will be very well prepared to help your boyfriend develop coping strategies and will help coach him through a hierarchy of how to approach his financial difficulties. They may not have the specialized financial expertise that they need to be sure he's addressing the legalities of his finances, though. That's where consulting with a credit counselor, a financial planner, an accountant or someone similar would be really helpful. They can point out what needs to take priority and how to best address the financial issues, and with this plan, the therapist can help him address the anxiety involved.
posted by goggie at 11:30 AM on September 23, 2011

He may be able to find a lot of help and support by checking out some Debtors Anonymous meetings.
posted by TurkishGolds at 3:28 PM on September 23, 2011

Try using the phrase "financial social work" in your search. There is a center for it and it might be worth emailing them to see if there are any practitioners in Chicago.
posted by emkelley at 6:46 PM on September 23, 2011

Thanks to everyone for your answers!
posted by marimeko at 5:15 PM on October 23, 2011