As therapy becomes more mainstream, there is a specialty that’s hiding in the shadows — financial therapy. You might know that you can turn to traditional therapy if you’re facing challenges or you want to give your mental health a tune-up. But you might not realize you can work with a financial therapist, specifically focusing on your relationship with money.
If you’ve ever felt anxious about money, cried about money, lost your sleep over it or had blow-out fights with your partner about it, financial therapy could be for you, according to Wendy Wright, a financial therapist and licensed marriage and family therapist. And you might need this support now more than ever, in today’s economic climate.
An April 2025 study from CNBC/SurveyMonkey found that 73% of Americans feel stressed about their finances right now, and most feel worse off than they did a year ago. The top stressors included inflation (86%), high interest rates (75%), tariffs (66%) and layoffs (51%). Another 41% have adjusted their investments due to the stock market volatility caused by on-and-off tariffs. If you’re feeling pangs of financial anxiety, here is a primer on financial therapy and how it can help.
What is financial therapy?
Financial therapy is a growing field that gained prominence after the calamity that was the Great Recession of 2008. As a practice, financial therapy can help you navigate your relationship with money.
Many things influence how we feel about money: family, culture, capitalism and trauma. Those things can shape who we are and how we exist in the world in relation to money. Financial therapy is a way to help you untangle all of that so you can find a healthy way to relate and react to money.
“Financial therapy is really about the intersection of our thoughts, feelings and behaviors around money, specifically focusing on how money plays a role in your life, relationships and patterns,” said Aja Evans, a licensed mental health counselor, financial therapist and author of “Feel Good Finance.”
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Is financial therapy different from traditional therapy?
If you’re having marital troubles, you might seek out a couples counselor. If you’re dealing with intense grief after a significant loss, you may look for a grief therapist to help you process your new reality. Similarly, if you’re having issues with money, you can seek out a financial therapist.
“Financial therapy isn't different from traditional therapy; it's a specialty within therapy. Just like there are therapists who specialize in trauma, somatic work or helping manage ADHD, financial therapists are specialists in the psychological side of money,” said Lindsay Bryan-Podvin, a licensed master social worker, financial therapist and founder of Mind Money Balance.
Before looking into financial therapy, be aware that both mental health professionals and financial professionals can look into certification from the Financial Therapy Association. So depending on your needs, you can research the right option for you.
“Make sure you understand what their home discipline was. I'm trained as a mental health professional. That's my home discipline, even though I'm a certified financial therapist. I'm not going to be giving you investment advice, because that's not my training,” said Nathan Astle, marriage and family therapist, financial therapist and founder of the Financial Therapy Clinical Institute.
Financial therapy vs. financial advising
Though financial therapy is increasing in popularity, it doesn’t necessarily get down to the nuts and bolts of your finances. It’s different from financial advising in how it works and the results you can get.
"Financial therapy is about the 'why.' Why do I overspend when I’m stressed? Why do I feel guilty when I save? Why is it so hard to talk to my partner about money?"
“Financial advising is about the what and how of money. Think budgeting, saving, investing, short and long-term planning for your financial life. Financial therapy is about the 'why.' Why do I overspend when I’m stressed? Why do I feel guilty when I save? Why is it so hard to talk to my partner about money?” said Evans.
What people are worrying about
As the CNBC/SurveyMonkey study showed, Americans are worrying about several things happening all at once. It can be dizzying trying to keep up with the news and a jolt to your nervous system if you see a major drop in your portfolio balance.
Wright explains that all of this can spike anxiety and potentially lead to avoidance, shutting down or even trigger your fight, flight or freeze response. All of this economic uncertainty can leave you feeling unmoored.
“Lately, more clients are naming money stress and worries, discussing concerns about what is happening or going to happen and what they want or need to do to feel secure,” Evans said. “People are afraid of losing the progress they’ve made, whether that’s in their retirement accounts or just affording everyday expenses.”
Astle said many of his wealthier clients are discussing the stock market volatility and expressing fears about the drop in value. For clients without as many resources, there’s still a heightened level of stress about other concerns.
Worries about job stability (especially for federal government employees) abound. Wallets are continually getting hit as the value of the dollar shrinks due to inflation. Then there are the bigger questions that plague people’s minds — will this affect my retirement? Will I need to work longer? Will I ever be able to retire at all?
“A lot of [clients] just don't even believe that retirement will exist, which is very understandable. But there's a lot of worry about ‘I'm not going to have Social Security,’” said Astle.
How to cope with financial anxiety and fear
Financial anxiety and fear can pop up for any reason. But now financial therapists are seeing the tides change as clients talk about the specific anxiety and uncertainty in this unpredictable environment.
"Not a day goes by in my clinical practice when clients aren't bringing up their financial fears due to economic news"
“Not a day goes by in my clinical practice when clients aren't bringing up their financial fears due to economic news. People are asking about everything from their rights as consumers (specifically after DOGE slashed the Consumer Financial Protection Bureau), to stock market volatility, to the on-again, off-again threats of tariffs,” Bryan-Podvin said.
During times of uncertainty, it’s natural to want to feel a semblance of control and take action. But doing so when you're in a highly emotional state may not be a wise decision.
“First, take a breath. Financial stress can make us feel like we need to take immediate action, but often the best first step is to pause,” Evans said. “I don’t want anyone making any financial moves when they are stressed. Usually, those money moves are about getting yourself out of the stress cycle and may not be good for you long term.”
Astle echoes this sentiment: “We can validate our feelings without making decisions from them.” To help ground clients, Bryan-Podvin said, “I use a blend of facts and metaphors to help clients anxious about the stock market. When it comes to long-term financial fears, historically speaking, the economy and markets are cyclical.”
For those who bury their head in the sand or are in a shame spiral, sometimes even acknowledging where you are can be the biggest step. It’s uncomfortable, but it can guide you forward.
“Knowing your numbers can create some distress, but often in my experience it does create more calm because you know it, instead of fearing what it might be. And then you know what you have to work with,” said Wright.
Financial therapy isn't cheap
The cost of financial therapy will depend on the provider, their level of experience, any specialties they have and your location. But in general, financial therapy can cost between $100 to $300 per session, according to the therapists we spoke to.
“Unfortunately, a lot of financial therapy services are not affordable to the average person, which I have a problem with. So if you do look for a financial therapist, look for one that has sliding fee scales,” said Astle.
You can search the “Find a Financial Therapist” tool from the Financial Therapy Association. If you start working with a financial therapist, you can work on specific issues that may be impacting how you relate to money. Though everyone is different, for best results expect to spend a minimum of three to six months in financial therapy.
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