The Treatment of Disordered Money Behaviors: Results of an Open Clinical Trial

Abstract

While destructive financial behaviors permeate our culture, the field of psychology has remained relatively silent on the issue. This article argues for the need for psychologists to identify disordered money behaviors as treatable psychological problems and provide the public with effective approaches to treatment. It describes one such experimental treatment utilizing experiential therapy and examines treatment outcomes of 33 individuals with problematic financial behaviors who participated in a 6-day experiential therapy program. Following treatment, participants showed significant and lasting reductions in psychological distress, anxiety, and worry about money and finance-related situations and showed measurable signs of better overall financial health. © 2008 American Psychological Association.