Why Financial Therapy Matters.

written by Bari Tessler March 8, 2024

Hello, my dear colleague,

A couple of days ago I mentioned that a study done by Nobel Prize-winning psychologist Daniel Kahneman showed that we make financial decisions based 90% on emotion and only 10% on logic.

This means that the overwhelming majority of our motivations behind our money decisions are guided by our emotions, with logic contributing just a teensy tiny amount of the impact on these decisions.

I’d be willing to bet that most of us would guess that those numbers would be flipped; that our logical, sound, clear, calculating mind is the one that’s in control of us making our financial decisions. But in reality the opposite is true.

This deep connection between feelings and finances shapes how we interact with money, each other, and the world around us.

In the tapestry of human experiences, financial therapy is the compassionate art of unraveling the threads of those money emotions and the stories behind them.

Why Financial Therapy is the Essential Tool You’re Missing

At the heart of the matter, financial therapy is a compassionate space to explore your money stories and behaviors so that you can heal. Financial Therapy also equips you with money habits and practices that are essential life skills.

It’s the perfect blend of financial and emotional literacy.

And it has the power to transform your relationship with yourself, with the people closest to you in your life, with your work in the world, and with money itself.

Because it’s a type of therapy, the results are different for everyone. But there are definitely themes of results that show up when doing this work.

You’re likely to see:

  • More clarity about your money habits and your numbers.
  • A sense of calm about being able to navigate the ebbs and flows of life and money.
  • A feeling of empowerment that you know how to make great money decisions.
  • Confidence that you can handle any money emotion that comes your way.
  • The ability to have healthy money conversations with the people closest to you.

The Rise of Financial Therapy

Lately, I seem to get more and more “financial therapy” Google alerts every day because there are so many articles being published about it.

But back when I was one of the pioneers in this field 23 years ago, financial therapy wasn’t the growing field that it is today. It actually didn’t exist when I started my work in this area.

No one was googling for “financial therapy” because no one had ever heard that phrase before. (My husband came up with it during a business brainstorming session with me in 2001.)

The Financial Therapy Association wasn’t established until 2010 – and I’d already been practicing and teaching my work for almost a decade at that point. (One of the founding board members of The Financial Therapy Association, Rick Kahler, said “Bari Tessler was practicing financial therapy before the rest of us had ever heard of the term. I call her the ‘Mother of Financial Therapy.’”)

Now the word is out, the field is growing, and the Financial Therapy Association is driving theoretical work and definitions.

But my personal approach to financial therapy — like everything I do — is less theoretical and more concerned with lived experiences.

I’m committed to providing practical tools, authentic support, and being in the trenches with my clients and students.

Why this work matters for you and your clients

As therapists, coaches, and financial professionals, we share an extraordinary gift—the gift of uplifting and empowering others.

And we share a common need to be supported and resourced. To have a safe and brave space to do our own money work, to navigate our money emotions, and to learn the practices we need to heal.

By understanding our own money emotions and stories, we gain the profound ability to compassionately support our clients on their financial healing journeys.

This is why financial therapy matters.

And that is why I created the Art of Money Mentorship Program.

I know that profound money healing is possible for you and your clients, and I want you to have this experience for yourself.

The AOM Mentorship Program is ideal for women seeking to gain greater clarity, connection, and community while deepening their personal money practices and relationship with self.
It’s a beautiful exploration and initiation into working with the shadow side of money and embracing the hard truths about yourself, then using them to your personal and financial advantage. Think of the AOM Mentorship Program as a cocoon that provides comfort, support, and structure that prepares you to take your final form as the butterfly you’re meant to be.” – Erika Rasure, PHD, Financial Therapist

It would be my privilege to be your guide and mentor on this journey.

With my dearest wishes,

P.S. Got questions? Please feel free to send us a message ([email protected]) and send us a note. I’ll be happy to respond personally.

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