top of page

The Money Mindset: Unraveling the Difference Between Financial Coaching and Therapy

Managing your money property can feel overwhelming. The stress of budgeting, saving, investing, and dealing with debt can lead to what experts call 'money anxiety'. If you feel anxious or worried about money, keep reading. I want to make sure you get the right help for you.

There are two types of professionals who can guide you through money anxiety and out the other side - financial coaches and therapists. But what's the difference between them and how can each help you? Let’s dive into the unique roles of financial coaches and therapists in helping you manage your money anxiety.

Financial Coaching: Your Gentle Guide to Budgeting, Finance, Insurance, and Saving Money

A financial coach is like a personal guide for your financial decision-making. They provide practical financial education, helping you understand the basics of money management, create a budget, pay off debts, and build savings. They can also guide you in setting and achieving financial goals.

Financial coaches can be gentle or a little harsh. Personally, I'm a gentle financial coach that specializes in helping with money anxiety.

A (good) financial coach will ask about your history and past in order to see your patterns. She'll help you see what you can control, take small steps that build confidence, and then see how your actions are changing your life one small step at a time.

Coaching, as a profession, is action-oriented. Financial coaching focuses on changing your behaviors and habits related to money. A coach will hold you accountable for your financial decisions and help you build confidence in managing your finances. If you're struggling with starting to look at money, overspending, not saving enough, or need a solid financial plan, a financial coach could be the right choice for you.

Therapy: Treating Your Anxiety

On the other hand, therapists dive deeper into your anxiety (if you have anxiety). They explore how your beliefs, values, and experiences influence your behaviors, including those related to finances. Therapy seeks to uncover and address emotional, psychological, and relational issues that may impact your decisions.

Therapists are trained to diagnose and treat mental health issues such as anxiety, phobias, and compulsive behaviors. They can help you understand the root cause of your stress and guide you towards healthier habits. If you find yourself constantly stressed about money or if your behavior is affecting your relationships or mental health, you might benefit from therapy.

Remember, therapy isn't just for those with severe mental health issues. Therapy can provide valuable insights and strategies for anyone looking to improve their emotional well-being and overall quality of life. If you're feeling overwhelmed by financial stress, don't hesitate to seek help from a therapist.

Many of my clients have both a therapist and a financial coach (me). We work together to treat money anxiety.

Financial Coaching vs. Therapy: Which One Do You Need? Or Maybe Both?

The choice between financial coaching and therapy depends on your needs and circumstances. If you need a gentle guide to help you with money management – bills, budgeting, saving, investing, debt reduction – a financial coach would be the best fit. We can provide you with the tools, information, and strategies to navigate the financial world successfully.

However, if you're dealing with intense feelings of stress, anxiety, or fear around money, a therapist might be more appropriate. They can help you understand if you have general anxiety and how that might impact your life.

It's also worth noting that financial coaching and therapy are not a one-or-the-other decision. We often complement each other. A financial coach can help you implement the behavioral changes suggested by your therapist, while a therapist can help you address the emotional barriers identified by your coach. We work together very well and pretty often.

Overcoming Money Anxiety: A Joint Venture

Money anxiety can stem from both practical and emotional issues. Overcoming it might require a combination of financial coaching and therapy. A financial coach can provide the knowledge and skills to manage your money effectively, while a therapist can help you understand and change your emotional response to money.

Remember, seeking help is a sign of strength. Whether you choose to work with a financial coach, therapist, or both, taking that step is a significant move toward conquering money anxiety and achieving financial wellness.

If you're struggling with money anxiety and don't know where to start, I'm here to help. As a financial coach with experience in addressing the emotional aspects of money, I can provide guidance tailored to your unique needs and situation. I'll tell you if I think you'd be best served by a therapist or coach. That's my promise. I want to see you get the help that would best help you.

Don't let financial stress control your life. Contact me today, and let's take the first step toward financial security together.

Remember, your financial wellness is a journey, not a destination. Whether you're navigating the sea of finance with a coach, healing your relationship with money through therapy, or using a combination of both, the goal is the same: to conquer money anxiety and achieve financial security. Reach out to me today, and let's start this journey together!


bottom of page