'Financial therapy': Couples counseling with financial twist improves well-being
(STUDY FINDS) -- ATHENS, Ga. — While it certainly sounds like a time saver, the idea of combining couples counseling with financial advice probably sounds pretty odd at first. Don’t rush to judgment, though, according to a new study conducted at the University of Georgia. Researchers say that “financial therapy,” a fairly new form of relationship support that combines the traditional guidance of a marriage counselor with the money savvy of a financial representative, could help couples deal with monetary disagreements and concerns.
“Money is a big thing and ignoring it is impeding satisfaction in relationships,” says Megan Ford, a couples and financial therapist at the University of Georgia, in a release. “Therapists need to work together to solve problems that occur around financial behaviors of couples and learn how to connect to all of their emotions.”
Ford, along with John Grable, an Athletic Association Endowed Professor of Family and Consumer Sciences and a financial planner himself, has been studying the effect of financial therapy on couples for the past decade. The duo have focused on the positive outcomes financial therapy can bring about in couples, but they’ve also investigated just how aware many couples are of how much their finances are impacting their relationship and communication.
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