ERIC Number: EJ1241097
Record Type: Journal
Publication Date: 2019
Pages: 9
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
EISSN: N/A
Available Date: N/A
Financial Therapy with Groups: A Case of the Five-Step Model
Shelton, Victoria M.; Smith, Thomas E.; Panisch, Lisa S.
Journal of Financial Counseling and Planning, v30 n1 p18-26 2019
Financial therapy is used to address the psychological, emotional, and behavioral components involved in the process of learning and utilizing new financial literacy skills. This study describes the use of a manualized financial therapy financial therapy intervention, the Five-Step Model, as it is piloted in a group setting. Current economic theories support the use of an intervention model that differs from traditional financial literacy teachings. Behavioral economics and the Transtheoretical Model of Behavior Change is used as a foundation for the Five-Step Model. A case study illustrates the key principles and effectiveness of the intervention model. Reflections and feedback from the members of the group are provided, along with a discussion of implications and directions for further inquiry.
Descriptors: Money Management, Behavior Change, Psychological Patterns, Learning Processes, Intervention, Case Studies, Feedback (Response), Counseling Techniques, Group Therapy, Economics, Emotional Response, Budgets
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A
Author Affiliations: N/A