Feeling anxious about money? 5 financial therapists share their expert advice

Image Credits: UnsplashImage Credits: Unsplash
  • Knowing your income, expenses, and deductions is crucial for financial well-being.
  • Overcoming money avoidance and shame is essential for progress.
  • Align financial objectives with personal values to cultivate a positive relationship with money.

Money is more than just numbers; it's deeply emotional. Financial stress is a widespread issue, with 63% of Americans and a third of UK adults reporting significant anxiety about their finances. This stress is particularly acute among younger adults, with 82% of Americans aged 18 to 34 feeling the pressure. The reasons are multifaceted, ranging from economic instability to a lack of financial education. However, financial therapy offers a path to understanding and alleviating this anxiety.

The Roots of Financial Anxiety

Financial anxiety often stems from a combination of economic factors and personal experiences. In the US, high inflation has clouded economic perspectives, while the UK faces a cost of living crisis. Beyond these external pressures, many people were never formally educated about money, leading to financial behaviors based on observation rather than knowledge. Dr. Aci Williams, a clinical psychologist and financial therapist, notes that many individuals fail to recognize the link between their upbringing, beliefs, and financial behaviors.

The Role of Financial Therapy

Financial therapy, a field established in 2008, aims to help individuals develop a healthier relationship with money. The Financial Therapy Association (FTA) was founded to standardize the practice and advance the profession. Financial therapists combine psychological and financial expertise to address the emotional aspects of money management.

Expert Advice from Financial Therapists

Understand Your Financial Basics

Dr. Aci Williams emphasizes the importance of understanding the basics: income, expenses, and deductions. Confronting and honestly assessing one's financial situation is the first step towards financial well-being.

Address Money Avoidance and Shame

Conversations about money avoidance and shame are common among clients, according to Staley, a certified financial therapist and family therapist. Overcoming shame and exploring the root causes of financial baggage is essential for progress.

Identify and Change Money Scripts

Money scripts are ingrained financial behaviors learned from family and friends. Identifying these scripts can illuminate areas for growth and change, helping individuals develop healthier financial habits.

Create Simple and Consistent Financial Plans

While detailed financial plans are important, simplicity and consistency are key. Starting with manageable tasks like daily tracking of income and expenses can alleviate anxiety and promote financial awareness. Flexibility in budgeting is crucial, especially when unexpected expenses arise.

Set Clear Financial Objectives

Reflecting on personal relationships with money and setting clear financial objectives aligned with values is vital. A healthy financial relationship is one where money serves as a tool to achieve goals without overwhelming mental space. Envisioning a future aligned with meaningful aspirations can cultivate a positive and purpose-driven approach to managing finances.


Financial Planning United States
Image Credits: Unsplash
Financial PlanningJuly 15, 2025 at 11:00:00 PM

Is 4% enough? What you need to know about retirement income planning

Today’s workers—especially those approaching their 50s and 60s—carry a heavy question: Will I really have enough when I retire? It’s not just a...

Financial Planning United States
Image Credits: Unsplash
Financial PlanningJuly 15, 2025 at 1:00:00 PM

What to do if you can’t pay your medical bills

You did the responsible thing. You saw the doctor when you had to. Maybe you went to the emergency room when you had...

Financial Planning
Image Credits: Unsplash
Financial PlanningJuly 14, 2025 at 6:00:00 PM

Retirement planning for young workers in China feels pointless. Is it?

Let’s get something straight: if you’re 26, living in Chengdu, grinding through a low-paid job you could lose tomorrow, and barely covering rent,...

Financial Planning
Image Credits: Unsplash
Financial PlanningJuly 13, 2025 at 11:30:00 AM

Early retirement savings advice

Some financial truths don’t change with the markets. One of them is this: the earlier you start saving for retirement, the more freedom...

Financial Planning
Image Credits: Unsplash
Financial PlanningJuly 13, 2025 at 12:30:00 AM

Why you can’t get out of debt—yet

If you’ve ever felt like your debts are multiplying no matter how hard you try to fix things, you’re not alone. Across Singapore,...

Financial Planning United States
Image Credits: Unsplash
Financial PlanningJuly 12, 2025 at 1:00:00 AM

How to build retirement security on a limited income

For many families earning just enough to cover their monthly essentials, retirement can feel like a distant and unrealistic goal. When income barely...

Adulting Singapore
Image Credits: Unsplash
AdultingJuly 11, 2025 at 11:30:00 PM

Is the cost of living in Singapore too high—or are our expectations breaking?

It started with a question that wasn’t meant to provoke, but did. “People who are complaining that Singapore is too expensive to live...

Financial Planning
Image Credits: Unsplash
Financial PlanningJuly 11, 2025 at 5:00:00 PM

How to raise a financially independent teen

It’s always been a challenge to grow up and become financially independent—but today’s teens are navigating a more complex, more expensive world than...

Financial Planning United States
Image Credits: Unsplash
Financial PlanningJuly 9, 2025 at 3:30:00 PM

Why vibe-based budgeting is catching on with Gen Z

A funny thing is happening in personal finance: people are making money decisions not just based on spreadsheets, but on vibes. Seriously. The...

Financial Planning Singapore
Image Credits: Unsplash
Financial PlanningJuly 8, 2025 at 5:00:00 PM

Warning signs you might be approaching bankruptcy without realizing it

In Singapore, bankruptcy isn’t just a legal status. It’s a sign that the personal financial system you’ve been relying on—credit cards, bank loans,...

Financial Planning United States
Image Credits: Unsplash
Financial PlanningJuly 8, 2025 at 3:30:00 PM

Is 'revenge saving' helping or hurting your financial plan?

Some people cope with stress by spending more. Others cope by spending less—but not always for the reasons you'd expect. In recent months,...

Financial Planning United States
Image Credits: Unsplash
Financial PlanningJuly 8, 2025 at 12:00:00 AM

Why the weak dollar isn’t stopping Americans from traveling

A last-minute summer flight to Rome might cost less than it did last year—but once you land, your dollar doesn’t stretch nearly as...

Load More