Overcoming a Financial Disorder: What We Can Learn and How to Overcome

Know the signs of a money disorder. Experts say people with money disorders have extreme difficulty controlling their behavior, mostly due to the positive reinforcement that accompanies the act. “There’s a chemical release in the brain that gives pleasure when engaged in the activity. You go through withdrawal and then you feel guilt when the activity ends. This then leads to another cycle of misbehavior,” says Klontz.

Know what’s not a money disorder. Occasionally spending too much or being in debt does not automatically mean you have a money disorder.  It is important to distinguish a true disorder from lack of discipline or from a circumstance beyond your control.

Get professional help. If you suspect you might have a money disorder, seek a formal diagnosis from a licensed professional who can offer help if you need it. Look for a therapist with a specialty in addictions. You can contact the Financial Therapy Association for a list of financial therapists in your area.  In addition, certified life planners are certified financial planners who have either studied the psychology of money or incorporate psychologists and therapists into their financial  practice.  You can find a list of certified life planners at the Kinder Institute of Life Planning website,

Consider joining a support group. If you can’t afford therapy, a support group is your next best option. Among the most well-known groups are Debtors Anonymous and Shopaholics Anonymous. These groups have phone meetings, which allow participants to call in from anywhere.

Don’t expect a quick-fix or “cure.” When it comes to disordered money behaviors, the trigger is always present. Managing a money disorder is very different from managing an addiction like alcoholism. The alcoholic can choose to avoid alcohol. However, a person with a money disorder cannot avoid money. You can, however, learn to manage the disorder.

Tell someone about depression or suicidal thoughts. Facing financial difficulty can sometimes make you feel depressed or cause you to think about suicide. If this happens, tell someone close to you and seek professional help immediately.   The people around you want to help.