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Identifying Problematic Financial Behaviors and Money Disorders

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Financial Counseling

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Abstract

Money is the number one source of stress in the lives of Americans. Financial stress drives many clients to seek the assistance of financial counselors. In some cases, financial stress is not the sole result of a lack of financial resources or poor financial literacy and traditional financial counseling tools do not help clients change their behaviors. When financial counseling is not successful in helping improve a client’s financial behaviors, counselors may want to consider whether the client may be exhibiting signs of a money disorder. This chapter introduces the signs and symptoms of problematic money behaviors and money disorders, including hoarding disorder, gambling disorder, compulsive buying disorder, financial enabling, financial dependence, financial denial, and financial enmeshment. It examines the beliefs driving these behaviors and offers suggestions for financial counselors who encounter clients struggling with problematic financial behaviors and money disorders.

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Author information

Authors and Affiliations

  1. Heider College of Business, Creighton University, Omaha, NE, USA

    Bradley T. Klontz

  2. Institute of Personal Financial Planning, Kansas State University, Manhattan, KS, USA

    Derek R. Lawson

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  1. Bradley T. Klontz
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  2. Derek R. Lawson
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Editor information

Editors and Affiliations

  1. School of Family Studies and Human Services, Kansas State University, Manhattan, KS, USA

    Dorothy B. Durband

  2. Money Management Resource Center Personal Financial Planning program, Utah Valley University, Orem, UT, USA

    Ryan H. Law

  3. Financial Counseling Consultant, Lubbock, TX, USA

    Angela K. Mazzolini

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Klontz, B.T., Lawson, D.R. (2019). Identifying Problematic Financial Behaviors and Money Disorders. In: Durband, D., Law, R., Mazzolini, A. (eds) Financial Counseling. Springer, Cham. https://doi.org/10.1007/978-3-319-72586-4_11

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  • DOI: https://doi.org/10.1007/978-3-319-72586-4_11

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-72585-7

  • Online ISBN: 978-3-319-72586-4

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