American Psychological Association 2015 Annual Convention

15,000 psychologists gathered at the Toronto Convention Centre to learn the latest in research and clinical practice.

Among the Symposia that were presented was, Emerging Areas of Practice—Addressing Women’s Financial Concerns.

Drs. Maggie Baker, Behrman and Gresham spoke about what Financial Therapy is (the understanding and integration of cognitive, emotional, behavioral, relational and economic aspects that influence a person’s financial well-being, self-esteem and quality of life), creating pre-nuptial agreements and how to learn the business aspects of clinical practice, respectively.

Dr. Jana Martin, CEO of the APA Trust (Established in 1962, The Trust offers insurance, financial security, and risk management programs for psychologists and related individuals nationwide) was moderator.  She brilliantly pulled together the main points of each talk and reminded us of the ethical issues involved in developing the new area of Financial Therapy.

The concept and practice of Financial Therapy developed through the 1990s.  The Financial Therapy Association was

Founded in 2009-2010 in recognition of this new area. FTA currently has 207 members.  For the last several months the media has written about Financial Therapy, so it is gaining some word recognition in the general public.

Most important about Financial Therapy is its ability to help us all, but particularly women, whose skills in financial literacy and financial negotiations are not fully  developed. Their greater vulnerability to financial fraud as well puts them at a disadvantage.

The Bottom Line : Financial savvy is a “must have” 21st century survival skill for both men and women.

 

Maggie Baker, Ph. D.
Psychologist – Financial Therapist
Author of Crazy About Money: “How Emotions Confuse Our Money Choices And What To Do About It”.