The Psychology of Personal Finances
This course is designed to develop knowledge and skills for financial planners, business professionals, coaches, counselors, and therapists to help give them the knowledge and tools to work effectively with clients. This is an advanced course surveying topics facilitating the integration of financial psychology into financial planning, financial coaching, business, and financial therapy. This course provides students with an in-depth exploration of:
a) the psychology of wealth,
b) techniques to counteract self-limiting and/or self-defeating financial behaviors,
c) change theory and enhancing motivation,
d) cognitive-behavioral financial psychology,
e) solution-focused financial psychology,
f) financial psychology ethics, and
g) assessment in financial psychology.
Course Learning Objectives
1. To provide an environment conducive to the study of financial psychology using written and oral presentation s and applied financial psychology theory and techniques.
2. To strengthen students’ ability to understand financial psychology and its implications with regard to financial health of clients and clients’ ability to reach their financial goals.
3. To apply theory and technique to gain a deeper understanding of the student’s own personal financial psychology.
4. Identify psychological factors associated with high income and high net worth.
5. Learn techniques to mitigate the negative impact of self-limiting and/or self-defeating financial behaviors.
6. Describe a theory of change and techniques to motivate change.
7. Demonstrate knowledge of the cognitive model and techniques to help clients change maladaptive beliefs.
8. Describe solution-focused techniques to help facilitate financial health.
9. Identify areas of potential ethical concerns in financial psychology and strategies to ensure ethical practice.
10. Learn about reliability, validity and assessment tools in financial psychology.
This is an online course through Creighton University worth 3 credits. It is one of five courses in the Certificate in Financial Psychology & Behavioral Finance
Week 1: Working with Affluent Clients
Week 2: Financial Psychology Workarounds
Week 3: Change Theory & Motivational Interviewing in Financial Psychology
Week 4: Cognitive-Behavioral Financial Psychology
Week 5: Solution-Focused Financial Therapy
Week 6: Ethics in Financial Psychology
Week 7: Assessment in Financial Psychology
Week 8: Financial Psychology II: Applications Paper
Klontz, B., Kahler, R., & Klontz, T. (2016). Facilitating financial health: Tools for financial planners, coaches, & therapists, 2nd edition. Cincinnati, OH: National Underwriter Company.
Klontz, B.T., Britt, S.L., & Archuleta, K.L. (2015). Financial therapy: Theory, research, and Practice. New York, NY: Springer.
Articles as assigned.