Financial Therapy
Michael Balakirsky MBA
the Member of Financial Therapy Association
The Principal of Sophos Financial
LPL Financial Advisor
Money isn’t just about numbers — it’s a deeply emotional thing. No matter who you are or what your bank account looks like, chances are you're affected by emotions when dealing with Money…
Have you experienced Shame, Stress, Anger, or Anxiety when thinking about money? There are clear mental health links related to finances. The likelihood of having a mental health problem is three times higher among people who are in debt.
Money worries are one of the leading reasons of divorces. Marriage, family and even future of your children often based on your emotional stability and yours (or your partner’s) relationship with money.
What can be done to alleviate your worries?
Financial Therapy is closely related to Financial Planning and Behavioral Finance. It is the fact that financial anxieties don’t just disappear the moment you have some money(or a lot) in a savings account. One of the bigger problems –Your money is never perfect-we can always find something to worry about.
Many tools are available. For instance, Financial Therapy utilizes techniques like Solution-Focused Therapy (SFT) to help clients figure out what skills they may already possess to overcome their own (financial) challenges. Financial Therapy tries to unearth clients’ financial family history and how the relationships around them may be influencing their money behaviors.
Are you looking for Help to control Your Emotions around Money ?
Looking for a Professional Financial Planner to Help Make Emotional Decision in Maryland, Virginia, DC?
Michael Balakirsky is the Member of Financial Therapy Association, LPL Financial Planner and experienced guide to help with your emotional financial and money decisions.
Our offices in Columbia MD and Rockville MD
Contact Us for a complimentary session: 410-290 6263 or email: michael.balakirsky@lpl.com