Therapists' perceptions of discussions of money in the therapeutic setting: The green elephant
Ramey, Elise B.
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At a time in society when so many are facing financial insecurity and uncertainty, talking about the issues and struggles could mean the difference between finding hope in the future in place of silently worrying alone. Mental health professionals aid clients in many aspects of life challenges; however, little is known about how often financial issues are addressed in the therapeutic setting. This study investigated licensed therapists' utilizing a 77 question survey designed to measure the financial knowledge, comfort and personal habits in relationship to discussions of money with clients. Financial knowledge was determined by the use of an adapted for of the Jump$tart Survey for College Students and the Financial Industry Regulatory Authority knowledge quiz. Comfort and personal financial habits was measured by questions devised by the researcher. Additional information was gathered surrounding therapists' education and experience to determine correlations to the variables knowledge, comfort, and personal habits leading to discussions. Seventy-seven participants fully completed the survey that was used to analyze the data in the form of a path analysis. The results indicate a small statistical significance in relationship to therapists that hold a Marriage and Family Therapy license that are female, with an increase amount of financial knowledge are more likely to engage in a discussion about financial issues than their counterparts who hold a Professional Counselor license or a Social Worker license. The researcher found no statistical significance in relationship to license, education/experience, comfort, knowledge or personal habits in regards to discussing financial issues with clients.