A year ago in the newsletter (Vol 2, Number 3), we reported on The Healing Money Workshop, held at Onsite Workshops in Nashville, Tennessee—one of a very few programs that does intensive work with people who have serious money disorders. A combination of financial education and experiential therapy, the workshop focuses on bringing to awareness and resolving “unfinished business” that is thought to underlie problematic money behaviors.
According to a recently published study of 33 self-selected people who completed this workshop, participants became significantly less distressed, anxious, and worried about money and finance-related situations. Their money attitudes also changed significantly. The belief that money is a symbol of success was less strong immediately after the workshop and even weaker three months later. There was less use of money to impress or influence others, and less value placed on the importance of status-seeking, acquisition, and competition.
None of the instruments used in this study measured spending or debt levels directly. Still, given the positive trajectories in participants’ feelings and attitudes about money and finances, those who completed the workshop are likely, over time, to see this translate into a healthier bottom line.
Klontz, B., Klontz, P., Biven, A. et al. (2008) The treatment of disordered money behaviors: results of an open clinical trial. Psychological Services, 5, 3, pp. 295-308.