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The Psychology of Wealth: Psychological Factors Associated with High Income by Bradley T. Klontz, Psy.D., CFP®; Martin C. Seay, Ph.D., CFP®; Paul Sullivan; and Anthony Canale, CFP® Using a sample of financial planning clients, this paper investigated the financial psychology of high earners. For this study, high income was defined as individuals in the top […]

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New Book: “Financial Therapy: Theory, Research & Practice”

Published on 12 December 2014 by | Category: News, Other

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Financial Therapy is the first full-length guide to the field, bridging theory, practical methods, and a growing cross-disciplinary evidence base to create a framework for improving this crucial aspect of clients’ lives. Its contributors identify money-based disorders such as compulsive buying, financial hoarding, and workaholism, and analyze typical early experiences and the resulting mental constructs […]

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By Kelli B. Grant Shoppers know they have to bring their “A” game to get the best deals during the holiday sales bonanza, but they may not realize how high the odds are stacked against them. Retailers employ numerous strategies to “fool your animal brain,” said financial psychologist Brad Klontz, co-author of “Mind Over Money.” […]

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LearnVest: “You’re Finally Debt-Free. Now What?”

Published on 13 November 2014 by | Category: News, Updates

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When Bianca Osbourne* went away to college, she had a lot of new experiences to acclimate to: living on her own, exploring a new city… and opening up her first credit card. As soon as she turned 18, she was inundated with card offers and started spending like crazy — her parents had always supported […]

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By Jessica L. Anderson, From Kiplinger’s Personal Finance, December 2014 As the clock ticks down to the end of the year, fund-raisers are out in force. In the spirit of the season, and with an eye toward trimming your tax bill, you may be swayed to open your wallet—a sentiment we encourage. But if your […]

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By Marianne Hayes There are many parts of our lives where self-help gurus urge us to feel empowered: our careers. Our relationships. Our workouts. But there’s one key thing that’s often missing from the list: our money. And Americans could certainly use some help feeling less anxious in that arena. According to a recent poll […]

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By Michael F. Kay “Growing up, my family never talked about money.” Sound familiar? It’s a statement as common as white bread with even more dire health effects. The fact is, most families do not sit down with their children and talk about money—how it’s earned, spent, invested or used. But that doesn’t mean that […]

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By Marisa Torrieri Margo Schlossberg never considered herself to be much of an indulgent spender. Even though there was plenty of opportunity to splurge on fine dining and high-end beauty treatments in the upper-middle-class Washington, D.C., suburb of Reston, Va., where she lives, she never felt particularly tempted to partake. That is, until the 44-year-old […]

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By Marisa Torrieri Margo Schlossberg never considered herself to be much of an indulgent spender Even though there was plenty of opportunity to splurge on fine dining and high-end beauty treatments in the upper-middle-class Washington, D.C., suburb of Reston, Va., where she lives, she never felt particularly tempted to partake. That is, until the 44-year-old […]

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As Alfredo A. Lopez, 31, approached his first anniversary, he noticed that he and his new wife, Edith, also 31, were spending more than he was comfortable with each month. In an effort to gently address the problem, Alfredo decided to bring up the tricky topic using an unconventional approach: He jotted down some financial goals […]

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