Talking Money with Your Honey - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Talking Money with Your Honey

(WFLX) - Paige Buck and her husband are happily married homeowners, but it's a little different when it comes to discussing bills and budgets. "Everything would result in arguments or frustration or tears," said Paige.

The couple needed help expressing their financial feelings, so they saw a financial therapist! We weren't happy with the way we talked about money, or the decisions we were making, she said.

Financial therapy, also known as money coaching, is gaining popularity with couple, and even singles!

Saundra Davis, with the financial therapy association, says it's the basic understanding that feelings and finance go hand-in-hand. "Financial therapy is the place where money and our personalities connect, when there's a difference between what we know and what we do," she said. 

Money coach Olivia Mellan says a good financial therapist will identify and treat the emotional blocks that prevent you from putting a financial plan into action. "Overspending, money avoidance, money worrying, excessive hoarding and saving, inability to communicate about money," said Mellan.

For Paige, communication was key. She and her husband realized they felt guilt over spending. My husband and I would look at each other and be like, 'I didn't know you felt that way,'" said Paige.

There are no certifications to become a financial therapist, so it's important to do your homework. "The term financial therapist is not a clearly defined term," said Davis. " It is an emerging field. So what we have is a collaboration of financial planners, therapists, coaches, and other professionals who work together."

The financial therapy association can be a valuable resource. "Make sure that you're comfortable with the professional that you're working with," said Davis.

After seeing Saundra, Paige feels financially and emotionally healthy. "We're saving for short term and long-term goals that we had never even faced or even had the courage to look at before," said Paige.

Whichever financial therapist you choose, make sure they're credentialed in their profession.

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