Connect * Empower * Impact

2019 AFCPE® Research and Training Symposium

AFCPE Pre-Symposium: Sunday, November 17 - Tuesday, November 19
AFCPE Symposium: Tuesday, November 19 - Thursday, November 21
Schedule Subject to Change

Wednesday, November 14th, 2018
Integrated Personal Finance; Treating Chronic Financial Trauma with Narrative Financial Therapy
What is financial trauma? Money remains a taboo topic in culture and relationships. Pain saturated narratives center on money for many couples. Past research indicates 15% of marital satisfaction is found to be predicted by financial factors. This emotional influence limits couples' ability to address necessary financial conversations. Financial traumas often interrupt individual's and couples' ability to develop and maintain secure attachments in their relationships and can become dysregulating in the lives of those individuals and couples as their traumas are explored. The purpose of this poster is to address the role and impact of financial trauma on intimacy within and well-being of the couple relationship. Participants will be introduced to a working definition of financial trauma, and how financial trauma is situated within the context of complex traumas that are chronic in nature. The trauma-informed focus from a narrative financial therapy understanding of financial pathology will begin to destigmatize guilt and shame bound narratives about inabilities to maintain positive financial and relational well-being. With this expanded understanding of the complexity of money within the couple relationship, the poster will examine a case study that highlights the pathology of financial trauma and its manifestation in maladaptive financial behaviors, as well as relationship intimacy. Potential ethical and professional practice implications will also be discussed in relation to treating trauma, addressing financial matters, and issues of transference and counter-transference among practitioners. Techniques on how to appropriately communicate about financial stressors, utilize a narrative financial therapy and counseling framework, use of common financial therapy interventions in financial counseling practice, address adverse reactions to financial trauma, and promote financial stability and growth with clients will also be discussed. Benefits for both clients and practitioners will be provided. Narrative financial therapy and counseling provides a systemic framework for understanding and addressing financial trauma. The primary elements of deconstruction, externalizing problems, mapping, and asking permission from an interpersonal and holistic lens create pathways for the financial counselors to work with clients, while addressing an unfamiliar problem that is often not addressed - chronic financial trauma. The poster will discuss these interpersonal relationship dynamics through narratives related to objective and subjective views of money, intergenerational processes, financially-related experiences, future relationships, and financial plans. Implications For Practice: The poster will discuss how chronic financial trauma impacts couple relationship intimacy, as well as overall financial and relationship well-being. The poster will highlight a narrative financial therapy and counseling framework to address treating couples with financial traumas in session though a case study vignette.