Frequently Asked Questions [FAQ]

We understand that seeking support and understanding mental health can be overwhelming.

Below, we’ve compiled answers to common questions to provide clarity and guidance. If you have additional inquiries, feel free to reach out to our team.

What is financial therapy?

A therapy that addresses both the practical aspects of managing finances and the emotional aspects of money behaviors and attitudes.

How is financial therapy different from traditional financial planning or therapy?

While traditional financial planning focuses primarily on financial goals and strategies, and therapy addresses psychological issues, financial therapy integrates both aspects to explore the emotional and behavioral aspects of financial decision-making.

What issues can financial therapy help with?

Financial therapy can help individuals and couples with a wide range of money-related issues, including but not limited to budgeting, debt management, communication about finances, financial conflict resolution, compulsive spending, financial trauma, and overcoming financial anxiety or stress.

What qualifications and credentials do you possess as a financial therapist?

At Freedom Life Therapy and Wellness, our therapists are master-level psychotherapists with additional certifications in the financial field. Currently, some of our therapists hold certifications in trauma of money, accredited financial counseling, and financial social work.

How does the financial therapy process work?

In financial therapy, we start with an initial assessment to grasp the client’s financial situation, goals, and emotional connection to money. From there, we collaborate to identify challenges, set objectives, and create strategies. Our approach combines financial education, counseling, and support.

What can I expect during a financial therapy session?

During a financial therapy session, we’ll delve into your financial goals, values, beliefs, and behaviors. We’ll examine how your emotions and past experiences impact your financial choices, and collaboratively create practical solutions and behavioral adjustments to enhance your overall financial well-being.

Are the sessions confidential?

Confidentiality is of utmost importance at Freedom Life Therapy and Wellness. Your sessions remain private, and any information shared during these sessions is treated as confidential. Exceptions may arise only in cases of legal obligations or safety concerns that necessitate disclosure.

How long does financial therapy typically last?

The length of financial therapy varies based on the complexity of the issues, the client’s objectives, and their progress. Short-term interventions may suffice for some clients, while others may need ongoing support over an extended period.

What are the fees for your services?

We currently accept Husky and Optum insurance. However, to utilize your insurance, you must meet the criteria for a clinical diagnosis.

Individual session $160

Couple session $175

Do you offer virtual or in-person sessions?

We provide both virtual sessions through secure video conferencing platforms and in-person sessions, based on the client’s preferences and location.

Are sliding scale fees or discounts available?

Currently, we do not provide sliding scale fees.

What distinguishes financial coaching, financial therapy, and financial counseling as services?

Financial coaching, therapy, and counseling aim to improve financial well-being, but they differ in approach:

Financial Coaching: Empowers individuals to make better financial decisions through personalized guidance, support, and accountability. Coaches help clients set and achieve financial goals. Key features include goal-setting, action planning, encouragement, and motivation. The goal of financial coaching is to build long-term financial literacy and skills through self-discovery and self-directed learning.

Financial Therapy: Addresses emotional and psychological aspects of money management. This approach involves exploring underlying beliefs, attitudes, and behaviors related to money. Financial therapists delve into emotional factors influencing financial decisions, relationship dynamics, and past experiences. The goal is to promote healthy financial habits and attitudes by addressing psychological barriers and emotional triggers.

Financial Counseling: Provides guidance, education, and advice on various financial topics. It offers practical assistance and expert advice to help clients navigate financial challenges and achieve financial goals. Financial counselors assist with budgeting, debt management, retirement planning, investment strategies, and more. The goal is to empower clients to make informed financial decisions and improve overall financial well-being.

Each service caters to unique needs, enhancing overall financial health.