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Seeing Financial Therapists

Brilliant or Baffling: Seeing Financial Therapists

We all know that mo' money can mean mo' problems, but are financial therapists really necessary? Financial psychologists are a new breed of doctors who will help you with your money woes and get to the root of the issue. Money can cause contentious issues between you and your loved ones. In fact, the most common reason for fights between couples are over finances.

"If you're not sticking to your budget, there's not a lot a traditional financial planner can do," says Amanda Clayman, a New York-based financial psychologist. "A financial therapist will try to figure out why your budget isn't working. Is there some sort of emotional issue causing you to spend a lot of money? Was there something in your upbringing that is influencing how you're handling your money now?"

What do you think — is seeing a financial therapist a brilliant or baffling idea?

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