What Therapists Need to Know About Financial Therapy
Dr. Lisa Marie Bobby is a licensed psychologist, licensed marriage and family therapist, board-certified coach, AAMFT clinical supervisor, host of the Love, Happiness, and Success Podcast and founder of Growing Self.
Therapists, have you ever felt completely unequipped to talk with a client about money? Or maybe you’re the one with money blocks and challenges that are hurting you and your practice? If so, you are 1000% not alone. We all could use a therapist’s guide to financial therapy, right?
I mean, come on. We spend years learning how to navigate trauma, attachment, and generational family systems—but money? Not even a chapter in the textbook.
That’s why I had to bring on Jillian Knight, LMFT and certified financial therapist, for a truly mind-blowing episode of the Love, Happiness & Success for Therapists podcast. Because once I learned what financial therapy actually is, and what it can do for both therapists and clients, I thought… WHY has no one created a therapist’s guide to financial therapy? We could really use one!
So, let’s dig into it. Because if you’re a therapist committed to professional growth, avoiding burnout, and actually enjoying the work you do—this might just be the perspective shift you didn’t know you needed.
What is Financial Therapy?
Financial therapy sits at the intersection of emotional wellness and money. It’s a clinical specialty focused on helping people explore their beliefs, behaviors, trauma, and relationships with money—just like you’d explore their relationship with a partner, parent, or even food.
It was born from an “aha!” moment between financial advisors and therapists who noticed:
- Financial advisors were watching clients get stuck or spiral emotionally around money.
- And therapists… well, we were basically trained to avoid money like it was radioactive. (Spoiler alert: 70% of us are statistically money avoidant.)
And here’s the thing: it’s not about budgeting or investment strategy. It’s about helping people heal their emotional relationship with money so they can make real, sustainable change.
A Therapist’s Guide to Financial Therapy
Let’s be honest: we’re generalists when we start out. Fresh out of school, we’re expected to know “enough” to help anyone who walks through the door.
But let’s say a client comes in with anxiety about debt… or a couple on the verge of divorce over money fights… or a professional who self-sabotages their earning potential. Chances are, we don’t feel confident navigating those conversations. And that’s not a failure. That’s a gap in our training.
Financial therapy fills that gap. Jillian said it best: “Now I can put my energy into this one area, and really feel competent and effective. That wasn’t the case when I was trying to be all things to all people.” Jillian found her niche as a therapist and it’s made all the difference.
Money Issues Aren’t Just for Clients
Here’s the truth bomb Jillian dropped that I really want you to hear: Therapists have money blocks, too. And our own money stories? They show up in the therapy room.
If you’ve ever:
- Avoided raising your therapy session rates (even though you’re drowning)
- Offered a discount no one asked for
- Felt guilty talking about fees
- Thought “I didn’t get into this for the money” while also wondering how to pay your rent…
…then, my friend, you’ve got money dynamics worth exploring.
Jillian shared how her own healing around money—plus the clarity she gained from doing financial therapy training—helped her stop people-pleasing, set better boundaries, and actually enjoy being a therapist again. Imagine that!
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Through the Lens of Financial Therapy
Here’s what blew my mind the most: financial therapy is a lens. It’s not just about helping clients get financially organized—it’s about seeing how their emotional needs, trauma, and systemic influences shape their behavior around money.
Childhood neglect? Shows up in hoarding money or financial anxiety.
People-pleasing? Shows up in overspending on others.
Societal messages around class, race, and gender? Yup—those are baked right in, too.
And here’s the kicker: if we don’t invite these conversations into the room, we miss a huge part of the client’s story.
I’ll be honest: until this interview, I’d never thought to ask about a client’s relationship with money in intake. Now? It’s on my radar every time.
What You Can Do Next
You don’t have to become a financial therapist (although if that’s your jam, go for it!). But here’s what you can do:
- Get curious about your own money story. What messages did you grow up with? What do you believe about wealth, value, and worth?
- Start the conversation with clients. You’d be amazed what opens up when you simply ask: “What’s your relationship with money like?”
- Consider exploring financial therapy more deeply. Jillian’s story is a roadmap for how specialization can save your career and sanity.
Stay Connected
If this therapist’s guide to financial therapy sparked something for you—whether it was curiosity, validation, or even that little internal ugh that says “Oof, I needed to hear this”—you’re not alone. So many therapists carry silent stress around money, career direction, or even just feeling like they’re supposed to have it all figured out by now. You don’t. None of us do. That’s why we’re here—learning and growing together.
If you’re looking for more support, insight, and real talk like this, I’d love for you to join me on the journey. My weekly newsletter for therapists is a space where I share new podcast episodes, helpful resources, and personal reflections to support your growth as a therapist—professionally and personally. You can sign up here: https://courses.growingself.com
Also, if you’re on LinkedIn, I’d truly love to connect with you. It’s one of my favorite places to build relationships with fellow therapists and like-hearted professionals. Come say hi and let me know what resonated with you: Dr. Lisa Marie Bobby on LinkedIn.
Xoxo
Dr. Lisa Marie Bobby
P.S. Know someone who needs this episode in their life? A colleague, supervisee, or therapist friend who’s wondering if they’re still cut out for this work? Do them a solid and share this article. You might just be handing them the key to a better, brighter path forward.
Resources:
Klontz, B. T., Britt, S. L., & Archuleta, K. L. (2015). Financial therapy. Theory, research, and practice. https://link.springer.com/content/pdf/10.1007/978-3-319-08269-1.pdf
Kim, J. H., Gale, J., Goetz, J., & Bermúdez, J. M. (2011). Relational financial therapy: An innovative and collaborative treatment approach. Contemporary Family Therapy, 33, 229-241. https://link.springer.com/article/10.1007/s10591-011-9145-7
Myers, K. (2008). Show Me the Money: (The “Problem” of) the Therapist’s Desire, Subjectivity, and Relationship to the Fee. Contemporary Psychoanalysis, 44(1), 118-140. https://www.tandfonline.com/doi/abs/10.1080/00107530.2008.10745956
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