Financial wellbeing is core to our happiness.
Money is our number one source of stress. The more we worry about money, the greater the potential damage to our mental health. At its extreme, a money disorder may lead to unhealthy behaviours such as gambling, workaholism, hoarding, financial abuse, overspending or underspending.
Few of us take the time to invest in our financial health. We may make basic assumptions such as money is good, or money is bad. Those assumptions are typically unconscious and stem from what we learned about money in our childhood. They drive our behaviours and can adversely affect our emotional wellbeing.
A common assumption is that the more wealth we have, the happier we will be. We may find ourselves chasing never ending dreams that promise to make us wealthier. Alternatively, we may believe that we don’t deserve wealth and avoid accumulating it and sabotage our own success.
After infidelity, money arguments are the second most common problem that couples bring to therapy. Most couples disagree at some point in their relationship whether to spend or save money. However serious money conflicts are often responsible for the breakdown of a relationship.
Money is often associated with fear and shame. It can be therefore difficult to work with in the therapy room and requires a skilled and experienced therapist to help facilitate the process.
At Riviera Wellbeing, we have studied money disorders and have developed a unique approach to help individuals and couples understand and change their money behaviours. Our financial intensives have been designed to allow our clients to dig deep and understand their relationship with money.
The link between debt, money worries and stress, lower productivity and absenteeism are increasingly recognised by employers and many are now looking for ways to support their employees. Some companies employ our services to help their teams develop a sense of financial wellness.
Do you understand your relationship with money?
Here is a summary of the most common money disorders:
Compulsive Spending
Workaholism
Financial Infidelity/Betrayal
Financial Abuse
Compulsive Gambling
Financial Enabling
Financial Dependence
Hoarding