Trauma of the Past: The Impact of Adverse Childhood Experiences on Adult Attachment, Money Beliefs and Behaviors, and Financial Transparency

D. Bruce Ross, Emily Johnson, Ed Coambs

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

Adverse childhood experiences (ACEs) can have a strong, lasting impact on our mental and relational outcomes as adults. They may also impact how we address financial beliefs and behaviors. The current study utilizes 500 participants from Amazon MTurk and structural equation modeling (SEM) to explore the relationships between ACEs and relational financial transparency behaviors through attachment style and money beliefs and behaviors. Findings indicated significant direct and indirect associations across these pathways, particularly for experiences of reported neglect, verbal, and sexual abuse on less security in adult attachment styles. In turn, insecure attachment styles were linked to increased maladaptive financial beliefs and behaviors which were significantly associated with less financial transparency in the relationship. The findings provide support for the impact of childhood trauma on inter-and intra-financial behaviors. Practice implications are discussed for financial practitioners in utilizing a narrative financial therapy modality while still adhering to ethical considerations.

Original languageEnglish
Pages (from-to)39-59
Number of pages21
JournalJournal of Financial Therapy
Volume13
Issue number1
DOIs
StatePublished - 2022

Bibliographical note

Publisher Copyright:
© 2022

Keywords

  • Attachment
  • adverse childhood experiences
  • family finance
  • money behaviors
  • money beliefs
  • trauma

ASJC Scopus subject areas

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

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