Money is central to so many aspects of our lives—it influences where we live, how we provide for our families, and even how secure we feel about our future. Unfortunately, as much as we rely on money for our quality of life, it’s also a tremendous headache, leading to overwhelming money anxiety. Whether you have a little or a lot, financial worry can weigh heavily, leading to sleepless nights, relationship strains, and unhealthy spending or saving habits.
We’re here to say that overcoming your money anxiety doesn’t have to be a solo journey. Cognitive Behavorial Financial Therapy (CBFT) is a new area of therapy focused on helping you gain control over your money. Money therapy will change the way you think about money and empower your financial decisions, ultimately leading to a healthier relationship with your money.
Let’s dive into five key insights to help you shift your mindset and behaviors toward lasting financial wellness.
If you’re feeling more than a little MAD about your financial situation, you can rest assured that the emotional and physical stress you’re coping with is valid. Psychologists have officially classified MAD as a disorder, and they have solutions to help you overcome the fear of financial insecurity that’s holding you back.
Money anxiety can show up in various ways:
These behaviors are often rooted in negative beliefs about money. Recognizing them is the first step to transforming your relationship with finances. Financial therapy offers a safe space to explore these patterns and start reshaping them in positive ways.
Money anxiety is frequently tied to childhood experiences and family beliefs about money. Here are two common roots:
Understanding the roots of money anxiety helps to make sense of our financial behaviors. Working with a financial therapist who uses CBFT can help you break down these patterns and create new, healthier beliefs about money.
Money anxiety can be managed and, over time, minimized. Here are two crucial steps to help get you there:
Acknowledge your current money mindset: The first step to overcoming money anxiety is understanding and acknowledging your own thoughts and emotions about money. Ask yourself: “What beliefs about money have I carried since childhood? Do I view money as a source of security, or as a source of stress?”
Seek professional support: Financial therapy, especially CBFT, is a valuable resource. Don’t worry if you feel others will scoff at the idea of you working with a financial therapist trained in Cognitive Behavioral Therapy (CBT). These professionals will help relieve your stress by exploring the deep-seated beliefs you may have about money management that lead to behaviors causing MAD.
This process helps to reframe these beliefs, opening the door to healthier money habits and less anxiety.
Do you need help stopping unhelpful thought patterns, emotions, or behaviors that are keeping you from feeling financially well? A trained CBT therapist will work with you through talk therapy to strengthen your money mindset. Your financial therapist will work with you to replace detrimental beliefs about money and replace them with more realistic and positive ones.
Cognitive Behavioral Financial Therapy (CBFT) builds on the core principles of CBT but focuses specifically on beliefs and behaviors around money. CBFT examines how thoughts about wealth, security, and self-worth influence financial habits, and it provides tools to reshape unproductive financial mindsets into supportive, growth-oriented perspectives.
By changing negative beliefs about money, CBFT helps reduce money anxiety and empowers individuals to make decisions that align with their values and long-term goals.
CBFT is highly effective for those dealing with financial stress because it’s tailored to address both the emotional and practical aspects of money management. Here’s how it works:
Identifying the underlying beliefs: The first step is to identify any unhelpful or outdated beliefs that might be fueling your money anxiety. For example, do you believe your self-worth depends on your income or that financial security is always out of reach? These beliefs often drive financial anxiety and can lead to unproductive behaviors.
Replacing unhelpful thoughts: Once these beliefs are recognized, CBFT helps replace them with supportive, realistic ones. For example, instead of “I’ll never have enough money,” you might replace it with, “I am actively working toward financial security and have the power to make smart choices.”
Adjusting behaviors: With new, positive thoughts in place, CBFT helps you explore healthier financial behaviors that align with your revised beliefs. If your old habit was avoiding financial planning because it caused anxiety, your new approach might be setting up monthly money check-ins that allow you to monitor your progress without judgment.
Through this process, CBFT empowers you to take control of your financial life, reduce stress, and build a relationship with money that feels secure, confident, and positive.
Financial anxiety doesn’t have to be a permanent part of your life. With financial therapy and CBFT techniques, you can reshape your relationship with money, learning to manage finances with confidence and clarity. This journey isn’t only about reducing stress—it’s about cultivating a lasting sense of financial wellness that aligns with who you are and what you value.
A healthy money mindset can be life-changing, allowing you to pursue opportunities, enjoy life, and create security for yourself and your loved ones. As you work through the causes of money anxiety, you’ll find yourself less burdened by stress and more empowered to make choices that support your dreams and goals.
Remember, you don’t have to navigate this journey alone. Financial therapy can help you uncover deeper issues, provide the tools to reshape your mindset, and empower you to change your money behaviors for good. Your future self will thank you for taking these steps toward a healthier relationship with money.