The impact of psychological trauma on finance: Narrative financial therapy considerations in exploring complex trauma and impaired financial decision making

D. Bruce Ross, Ed Coambs

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

The current paper aims to foster new discussion on the complex, deleterious, and conflated relationship between psychological trauma and financial management processes. Trauma and financial distress are interconnected, affecting the cognitive, behavioral, emotional, and relational aspects of our lives. A case vignette is presented for financial therapists which utilizes an integrated, trauma-informed approach addressing the lasting impact of childhood trauma on financial management behaviors and the client's life story. Treatment modalities consider narrative financial therapy, four categories of sexual and financial shame, and four phases of trauma restoration. Ethical and practice implications are discussed.

Original languageEnglish
Pages (from-to)37-53
Number of pages17
JournalJournal of Financial Therapy
Volume9
Issue number2
DOIs
StatePublished - 2018

Bibliographical note

Publisher Copyright:
© 2018, Revista Civilistica.

Keywords

  • Emotional trauma
  • Finances
  • Financial behavior
  • Financial management
  • Financial therapy
  • Psychological trauma
  • Sexual abuse

ASJC Scopus subject areas

  • Health(social science)
  • Social Psychology
  • Finance
  • Applied Psychology

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