Financial Therapy Helps Couples Understand How Money Affects Relationship Dynamics
As a Certified Financial Therapist, Jerry Inglet is well versed in how attitudes about money and spending behaviors can affect a marriage. Jerry recently joined Jessie for The Marriage Group Podcast to discuss how couples can benefit from financial therapy and when they need it.
In This Episode…
Fun & Interesting Quotes on Finances:
From the host: “I remember when my husband started listening to Dave Ramsey. Now, Dave Ramsey hopefully never hears this, but I thought to myself, if I have to hear the name Dave Ramsey one more time, I’m going to scream.”
Couples say: “I see you every day. It takes this guy to have this meeting, to have you tell me this. So there’s always surprises, and sometimes they’re not always good surprises.”
On giving: “And it used to be charities and 501C3s, but I find more and more it’s GoFundMe. Right.”
Key Takeaways on Financial Therapy:
Couples Need to Gain Understanding of Financial Behaviors:
Jerry emphasized that financial decisions are not made in a vacuum. They are often rooted in learned behaviors from childhood and societal influences. Recognizing these patterns is the first step towards healthier financial habits.
Communication is Crucial for Successful Money Management:
One of the main challenges in marriages is the lack of open communication about finances. Jerry advocates for creating a safe space where couples can discuss money matters without judgment. This involves understanding each other’s financial stressors and goals. Working with a certified financial therapist is a great first step.
Structured Financial Therapy Guides Couples to Better Outcomes:
Jerry outlined a typical process for financial therapy, which begins with assessing the couple’s financial acumen and willingness to be transparent. Fun and engaging assessments, such as the “tightwad-spendthrift” test, are used to help couples understand their financial personalities.
The Goal is Incremental Progress, Not Perfection:
Progress in financial therapy is often incremental. Small victories, such as improved communication and understanding of financial goals, can lead to significant breakthroughs over time. Jerry encourages couples to celebrate incremental shifts toward growth and helps them set reasonable, achievable goals.
Benefits of Financial Therapy for Married Couples:
Building Financial Literacy:
Many couples enter marriage with varying levels of financial knowledge. Financial therapy provides the education needed to make informed decisions.
Aligning Financial Goals:
By understanding each other’s financial values and goals, couples can work together towards common objectives, reducing conflicts and fostering a stronger partnership.
Preventing Future Conflicts:
Addressing financial issues early in the marriage can prevent them from becoming major sources of conflict later on. This proactive approach can help couples avoid reaching a crisis point in their relationship.
Who Is Jerry Inglet?
Photo of Jerry Inglet, Certified Financial Therapist and educator at Trocaire College
Jerry Inglet is the Program Director for Workforce Development, Financial Health, and Education at Trocaire College. He has over 25 years of experience in finance and over 10 years of experience in higher education. He’s a Certified Financial Therapist and Accredited Financial Counselor with a doctorate in educational leadership from D’Youville University, two master’s degrees (school counseling and urban policy) from the University at Buffalo, and a bachelor’s degree in economics from Xavier University.
Currently, Jerry’s Financial Therapy Sessions are available online through Trocaire College’s Financial Health and Education department. These Financial Therapy Sessions help couples address financial stress, communication gaps, and money behaviors while providing support through fun exercises and financial education.
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