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Seven Steps to Culturally Responsive Financial Therapy

  • Pamela HaysEmail author
  • Bradley T. Klontz
  • Randy Kemnitz
Chapter

Abstract

This chapter examines the importance of culture in the practice of financial therapy. Research regarding culture’s impact on financial planning and financial therapy is explored, and seven steps for providing financial planning services in a multicultural context are described. The seven steps include: (a) know your culture, (b) recognize your privilege, (c) learn about your client’s cultures, (d) demonstrate respect for culturally related strengths, (e) distinguish between internal and external parts of a problem, (f) validate oppressive experiences, and (g) do not challenge core cultural beliefs.

Keywords

Racial Identity Financial Planning Financial Planner Minority Group Member Minority Member 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer International Publishing Switzerland 2015

Authors and Affiliations

  1. 1.Nakenu Family CenterKenaiUSA
  2. 2.Family Studies and Human ServicesKansas State UniversityManhattanUSA
  3. 3.Kansas State UniversityManhattanUSA

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