Journal of Financial Therapy
Journal of Financial Therapy
Kansas State University
Kristy L. Archuleta
The Journal of Financial Therapy primarily publishes clinical, experimental, and survey research that examines the empirical link between personal financial knowledge, attitudes, and behaviors and personal and family well-being. The journal also accepts cross-sectional survey research, longitudinal and panel study research, case studies, financial therapy practice management tutorials, and literature reviews. Articles from financial therapists, both those working in academia and in practice, are welcomed.
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PublicationEthical Issues and Decision Making in Collaborative Financial Therapy( 2016) Ross, D. Bruce ; Gale, Jerry ; Goetz, JosephThe purpose of this article is to introduce potential ethical challenges that may arise when a financial and mental health professional collaborate to provide financial therapy and recommendations on how to effectively address these concerns. The development of ethical and professional practices requires extensive dialogue from practitioners in the emerging field of financial therapy; however, it is important to first develop an awareness and sensitivity to the ethical and professional issues across disciplines. This article examines the differences and similarities between the codes of ethics of different financial and mental health disciplines, and addresses six core ethical and professional issues: dual relationships, confidentiality, collaborating with other professionals, fee management, use of technology, and attending to federal and state regulatory laws. In working through the complexity of different disciplinesΓÇÖ regulatory environments, a discussion of how to address these ethical questions in order to progress the financial therapy field is presented.
PublicationFinancial Empowerment and Health Related Quality of Life in Family Scholar House Participants( 2016) Franz, ChelseyResearch demonstrates an association between poverty and health. Populations in poverty suffer from poor mental and physical health, and thus, poor health-related quality of life. Research also indicates people living in the lower socio-economic categories experience higher levels of stress that are associated with these health declines. Family Scholar House, a local community intervention designed to alleviate poverty and improve socio-economic status by providing college education and support to single parents, combats these health outcomes by addressing the five social determinants of health (economic stability, education, social and community context, health care, and neighborhood and built environment). Quantitative analysis indicates an improvement in mental health among Family Scholar House participants: 0-12 month participants reported significantly more mentally unhealthy days than a control group; however, this difference is no longer significant at the end of participantΓÇÖs time in the program. Qualitative analysis suggests this improvement may be due to stress reduction related to increased economic stability and financial security gained through an intentional implementation of a financial empowerment curriculum within the Family Scholar House program. Implementation of financial empowerment into community programs designed to alleviate poverty may improve mental health and thus health-related quality of life.
PublicationSources of Referral in Student Financial Counseling( 2016) Choi, Shinae ; Bartholomae, Suzanne ; Gudmunson, Clinton G. ; Fox, JonathanThis study evaluates sources of referral to financial counseling and varied declines in financial stress across the financial counseling process. College students came to counseling most often through self-referral. Younger students and women were more likely to respond to institutional referrals. There were two clearly discernable periods of decline in financial stress, smaller interim declines occurring after requesting appointments and larger declines that occurred in counseling sessions. The interim declines, however, were only operative for those who were self- or institutionally-referred and not for those who entered on a social-referral. A possible explanation is that social-referrals have already had ΓÇ£someone to talk toΓÇ¥ whereas other referrals may only begin to feel a psychological burden lifted after making an appointment. Total declines in financial stress were mostly impervious to individual differences and sources of referral lending support to the notion that financial counseling itself contributed to aggregate declines in financial stress.
PublicationWhat It's Worth: Strengthening the Financial Future of Families, Communities and the Nation( 2016) Stueve, CherieThis book overviews the financial challenges of vulnerable Americans and creative programs that look beyond income as a metric of financial health is divided into four sections. The first section, ΓÇ£Where We Are,ΓÇ¥ describes the current financial statistics of households by demographic and economic era. The second (and largest) section, ΓÇ£Why Financial Well-Being Matters for All,ΓÇ¥ is broken into four topics: the economy, financial services system, and community; employment and business; health and social services; and education. Each illustrates the strong role financial well-being plays in other systems at the individual and community level.
PublicationPractitioner Profile: An Interview with Syble Solomon( 2016) Solomon, SybleSyble Solomon is a speaker on the psychology of money and the founder and president of LifeWise Strategies. She is best known for Money Habitudes┬« a deck of cards (and now an online version) that makes it easy to talk about money and discover what motivates our financial behaviors. Before becoming interested in why people manage money as they do, she had careers in early childhood special education, gerontology and executive coaching. Seemingly unrelated, they all provided experience training, developing educational material and empowering people at all socio-economic levels to work through challenging times and transitions. An excellent background for helping people work through money-related issues!
PublicationResearcher Profile: An Interview with Jorge Ruiz-Menjivar( 2016) Ruiz-Menjivar, JorgeJorge Ruiz-Menjivar is originally from San Salvador, El Salvador, but has had the privilege to live in several Latin American countries (e.g., Nicaragua, Costa Rica, among others), and to travel through many other regions in the world. He obtained a BachelorΓÇÖs degree in Accounting at the University of New Orleans-Louisiana State University. Then, he went on to earn a MasterΓÇÖs degree in Personal and Family Financial Planning at the University of Florida under the supervision of Drs. Michael S. Gutter and Martie Gillen. Recently, Jorge finished his Doctoral degree in Financial Planning, Housing and Consumer Economics from the University of Georgia under the supervision of Drs. John E. Grable and George Engelhard, Jr.
PublicationEditorial, Volume 7, Issue 2( 2016) Archuleta, Kristy L.This issue features four articles, two profiles, and one book review. Each article adds a new contribution to the field of financial therapy. First, Dr. Asebedo applies a conflict resolution framework to money arguments. Next, Drs. Rea, Zuiker, and Mendenhall explore financial management practices among emerging adult couples. In the third paper, Drs. Ann Woodyard and Cliff Robb help to add further description of financial satisfaction. Then, Dr. Russell James offers a unique theoretical analysis of mortality salience and financial decisions. This issue also features a practitioner profile of Beth Crittenden and a scholar profile of Sarah Asebedo. Finally, we conclude with a review by Neal VanZutphen about a book entitled, The Seven Principles for Making Marriage Work.
PublicationBuilding Financial Peace: A Conflict Resolution Framework for Money Arguments( 2016) Asebedo, Sarah D.This paper presents a well-known and highly utilized conflict resolution framework from the mediation profession and demonstrates how to apply this framework to money arguments. While conflict resolution skills have been identified as important to communication within the financial planning context, an integrated conflict resolution framework has yet to be recognized and understood within the financial planning literature. This paper aims to fill this gap. Ultimately, both mental health professionals and financial planners can benefit from an interdisciplinary approach to resolving money arguments by combining training in personal financial strategies and conflict resolution principles.
PublicationMoney and Emerging Adults: A Glimpse into the Lives of College CouplesΓÇÖ Financial Management Practices( 2016) Rea, Jennifer K. ; Zuiker, Virginia S. ; Mendenhall, Tai J.Being in a romantic relationship is a transition that many college students enter while earning a college degree. Twenty-four students between the ages of 19 to 29 years old who self-identified as being in a committed relationship participated in this study. They completed an online survey that included both quantitative and qualitative (open-ended) questions pertaining to money management practices. Key findings suggest that participants believe in communicating about their individual and combined finances so as to prevent or solve financial challenges. They also discussed the importance of having similar perspectives about financial values within their relationship. Financial therapists, counselors, and educators working with the college student populations should be aware of the issues couples in committed relationships face, and should tailor their money management programming with this in mind.
PublicationConsideration of Financial Satisfaction: What Consumers Know, Feel and Do from a Financial Perspective( 2016) Woodyard, Ann Sanders ; Robb, Cliff A.Financial satisfaction has long been considered an important component to consumer life satisfaction and well-being. Using data from the 2012 National Financial Capability Study (NFCS), financial satisfaction is explored in the context of personal characteristics related to financial knowledge (both objective and subjective) as well as self-reported financial behaviors. Ordinary Least Squares Regression is applied to a predictive model of financial satisfaction, and results indicate that measures associated with what people do (behaviors related to recommended practice) and how they feel (subjective knowledge) may be more salient factors to consider with regard to satisfaction than measures related to what individuals know (objective knowledge). Implications are considered for consumers in light of a general policy approach promoting financial literacy and education as a means of improving financial outcomes and well-being.