Financial Goal Setting, Financial Anxiety, and Solution-Focused Financial Therapy (SFFT): A Quasi-experimental Outcome Study

Financial anxiety appears to have a significant effect on the lives of many Americans (APA Stress in America™, paying with our health, American Psychological Association, Washington, DC, 2015) and a source of client distress among mental health clinicians, financial professionals, and financial ther...

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Bibliographic Details
Published in:Contemporary family therapy 2020-03, Vol.42 (1), p.68-76
Main Authors: Archuleta, Kristy L., Mielitz, Katherine S., Jayne, David, Le, Vincent
Format: Article
Language:English
Subjects:
Anxiety
Behavioral Science and Psychology
Clients
Clinical Psychology
Family
Goal setting
Health research
Mental health
Mental health professionals
Objectives
Original Paper
Professional practice
Psychological distress
Psychology
Psychotherapy
Quasi-experimental methods
Social Work
Sociology
Solution focused brief therapy
Therapists
Therapy
Well being
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Summary:Financial anxiety appears to have a significant effect on the lives of many Americans (APA Stress in America™, paying with our health, American Psychological Association, Washington, DC, 2015) and a source of client distress among mental health clinicians, financial professionals, and financial therapists. Solution-Focused Brief Therapy (SFBT) has been utilized in number disciplines as a way to help professionals interact with clients to create change and improve well-being. This study utilized a version of SFBT that applies its principles and techniques to financially related issues called Solution-Focused Financial Therapy (SFFT; Archuleta et al. in J Financial Ther 6(1):1–16, 2015a; in Financial therapy: theory, research, & practice, Springer, New York, 2015b). More specifically, SFFT was applied to a financial goal setting session. Using quasi-experimental methods, the purpose of this study was to discover whether or not financial anxiety levels were reduced after clients participated in a brief SFFT goal setting session. Results indicate that a SFFT approach to goal setting can reduce financial anxiety for the short-term. Implications for research and mental health, financial, and financial therapy practice are provided.
ISSN:0892-2764
1573-3335
DOI:10.1007/s10591-019-09501-0