6 Key Signs You Should See a Financial Therapist in the New Year

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Wondering whether financial therapy might be right for you? Curious what financial therapy even is?

“Financial therapists approach things a bit differently than traditional financial advising. We are focused on changing thoughts, feelings and behaviors around money using psychology as the backbone,” said Nathan Astle, founder of the Financial Therapy Clinical Institute. In other words, financial therapists address underlying issues around money to help break unhelpful cycles at their emotional root.

Were you stressed about money in 2024? GOBankingRates spoke with experts to discover the six signs you should visit a financial therapist in 2025.

Also see four subtle ways shame and guilt are keeping you poor.

You Avoid Discussions About Money

Conversations about money can often feel overwhelming. But if it’s gotten to the point where you all-out refuse to address the topic in order to avoid feeling unpleasant feelings, financial therapy may be just what the doctor ordered.

“Avoidance is often tied to deeper money beliefs or past traumas that need unpacking,” said Melissa Murphy Pavone, founder of Mindful Financial Partners.

Experiencing financial insecurity or hardships in childhood can create lasting effects into adulthood that many people don’t even realize. Bringing these memories to the surface can help one understand and cope with them so they are better equipped to handle financial planning and decision-making head-on.

You Experience Money-Related Anxiety and Depression

The opposite of avoidance is feeling all the feelings. If money woes are keeping you either too depressed to properly engage in life or too anxious or paralyzed to sleep or make any decisions, it may be time to address the root of these feelings. They may be specifically money-related, but they may be manifesting as such and actually be linked to a larger anxiety or depressive disorder — or both.

Murphy Pavone encouraged financial therapy as a means of identifying triggers and creating coping mechanisms in order to develop a healthier mindset.

You’re Facing Big Financial Transitions

Starting a new job, getting married or divorced, buying a new home, and planning for retirement are all transitions that can bring about just as much financial anxiety as opportunity. The fear of the unknown can be overwhelming, and financial therapists help individuals navigate unpleasant emotions, create constructive coping strategies and set financial goals as they adjust to their new normal.

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Financial therapists can also provide referrals to other professionals, like Certified Divorce Financial Analysts, who are skilled in specific issues that pertain to clients.

There Are Persistent Money Conflicts in Your Relationship(s)

The leading cause of divorce, money (specifically, different attitudes toward it) can certainly create conflict in a marriage or partnership.

“Spouses may have different spending habits, savings goals and financial priorities,” said Meghan Freed, law partner at Freed Marcroft Divorce and Family Law. “One partner may prioritize saving for retirement while the other may prioritize spending on leisure activities … One partner may believe that money is a tool for achieving happiness and security, while the other may believe that money is the root of all evil.”

Over time, these differences can create resentment, mistrust and persistent conflict. If this sounds familiar, trained financial therapists can assist in resolving underlying issues that ultimately contribute to conflict, like poor communication and unequal responsibilities.

You Are Compulsively Spending

Compulsively spending can be another sign to seek help.

“Not remembering what you ordered when you open a package or not having physical space in your home for new purchases” can be signs that spending is out of control and that you could benefit from working with a financial therapist, according to Kate Dorman, financial therapist at Sound Financial Therapy LLC.

Continuing to buy more of things you already own (like art supplies or clothes), don’t use or rarely use can be red flags that someone is spending money to cope with unaddressed emotions like loneliness or anxiety.

You Tie Your Self-Worth to Your Financial Worth

“If you feel like your value as a person is dependent on your income, net worth or ability to achieve financial milestones, it’s a sign to seek help in separating your identity from your bank balance,” Murphy Pavone explained.

Self-worth is about more than what one can show for themselves. It’s generally about the quality of a person and how they make others feel. Measuring self-worth in dollar signs can be a sign that someone is highly insecure and/or their inner self is vastly underdeveloped.

Who said money was the way to receive love? Was this behavior modeled by a parent? A financial therapist may help discover the root of these core beliefs and further encourage flowering other areas of one’s life.