It’s a scary time: unemployment’s up, the economy’s down and almost everyone’s trying to bail out of debt. A third of us have lost sleep over financial stress and worry, according to a recent survey by the National Sleep Foundation.
Money is emotional, especially these days. To reduce your debt and save more, get in touch with [...]
PALM BEACH GARDENS (Fla.) — With bank credit still tight, many seek to borrow from family as a last resort.
At Virgin Money USA, the volume of “social loans” — loans between people who know each other — has doubled to $400 million since October 2007. The Waltham, Mass.-based company said loans arranged for family members [...]
Arguments about cash contribute to half of all divorces. Here’s how his-and-her money personalities can work together instead of rip apart
Paul Kita and Loren Chidoni
Guardian & Rational
Danger level: Medium
You both have the same destination—financial stability—but see very different paths to get there. Guardians have never met a nickel they didn’t want to rush to the [...]
NEW YORK (Dow Jones)–It’s tough to radiate calm to worried clients when you’re stressed out yourself. While clients are looking for reassurance, many brokers and investment advisers are struggling with their own emotions – including guilt for not having insulated clients from investment losses and worry over their own personal portfolios and declining business revenue.
“The number one thing [...]
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Strange behavior is not limited to Wall Street. Brad Klontz, a financial psychologist in Hawaii and partner in Klontz Kahler, a financial therapy and planning firm, said someone he worked with had liquidated his portfolio, put the money into gold and silver and bought a safe to store the bullion. This person, he says, is [...]
“Take this economic climate as a chance to give the ‘big picture’ talk,” says Ted Klontz, a financial psychologist and coauthor of Facilitating Financial Health. “Explain what money is, how it works, what is possible and what is not on a big scale—and then how that applies to ‘our family.’ Timing is everything: The time [...]
The field of financial therapy has been around for a few years, but it has experienced a recent surge in interest because of the tanking economy. Ted Klontz, a Nashville psychologist who is a pioneer in the
field, was recently on Good Morning America, and he’ll appear on an episode that 20/20 is doing about financial therapy in April.
Klontz said given [...]
“It’s gotten worse. It’s absolutely gotten worse. Most people are feeling anxious about money right now,” says Bradley Klontz, a clinical psychologist in Hawaii. “When you’re struggling with money issues and it affects your ability to carry out your various roles — if it’s keeping you up at night — I’d say that’s when you [...]
Poor Ebenezer Scrooge. The main character in Charles Dickens’ “A Christmas Carol” is notorious for his miserly ways. But what about his stunning transformation from penny-
pincher to philanthropist?
“We forget there’s a Scrooge at the end of the book,” said Rick Kahler, a Rapid City, S.D., certified financial planner and co-author of “The Financial Wisdom of Ebenezer
Scrooge: Five Principles to [...]
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