Dr. Brad Klontz

• Using a sample of financial planning clients, this paper investigated the financial psychology of high earners. For this study, high income was defined as individuals in the top 2.5 percent of earners in the United States ($154,000 or greater), with the comparison group reporting a median income of $80,000.
• When compared to other high income financial planning clients, significant financial psychological differences were observed in the highest earners.
• Membership in the high… Show more

• Using a sample of financial planning clients, this paper investigated the financial psychology of high earners. For this study, high income was defined as individuals in the top 2.5 percent of earners in the United States ($154,000 or greater), with the comparison group reporting a median income of $80,000.
• When compared to other high income financial planning clients, significant financial psychological differences were observed in the highest earners.
• Membership in the high earning group was associated with lower levels of money avoidance and money worship scripts, higher levels of money status scripts, higher levels of financial knowledge, more financial enabling behaviors, and a greater likelihood to attribute financial success to a fundamental drive to increase wealth.
• A deeper understanding of the financial psychology of high income clients can help financial planners better serve this market niche, predict possible behavioral risks to those with high incomes and net worth, and help clients aspiring to increase their income and net worth through insights gleaned from this population.
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Lawson, D., Klontz, B. T., & Britt, S. L. (2014). Money Scripts. In B. T. Klontz, S. L. Britt, & K. Archuleta (Eds.), Financial Therapy: Theory, Research, and Practice. Springer.

Money-related stress dates as far back as concepts of money itself. Formerly it may have waxed and waned in tune with the economy, but today more individuals are experiencing financial mental anguish and self-destructive behavior regardless of bull or bear markets, recessions or boom periods. From a fringe area of psychology, financial therapy has emerged to meet increasingly salient concerns.

Financial Therapy is the first full-length guide to the field, bridging theory, practical… Show more

Money-related stress dates as far back as concepts of money itself. Formerly it may have waxed and waned in tune with the economy, but today more individuals are experiencing financial mental anguish and self-destructive behavior regardless of bull or bear markets, recessions or boom periods. From a fringe area of psychology, financial therapy has emerged to meet increasingly salient concerns.

Financial Therapy is the first full-length guide to the field, bridging theory, practical methods, and a growing cross-disciplinary evidence base to create a framework for improving this crucial aspect of clients' lives. Its contributors identify money-based disorders such as compulsive buying, financial hoarding, and workaholism, and analyze typical early experiences and the resulting mental constructs ("money scripts") that drive toxic relationships with money. Clearly relating financial stability to larger therapeutic goals, therapists from varied perspectives offer practical tools for assessment and intervention, advise on cultural and ethical considerations, and provide instructive case studies. A diverse palette of research-based and practice-based models meets monetary mental health issues with well-known treatment approaches, among them:

•Cognitive-behavioral and solution-focused therapies.
•Collaborative relationship models.
•Experiential approaches.
•Psychodynamic financial therapy.
•Feminist and humanistic approaches.
•Stages of change and motivational interviewing in financial therapy.

A text that serves to introduce and define the field as well as plan for its future, Financial Therapy is an important investment for professionals in psychotherapy and counseling, family therapy, financial planning, and social policy.
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"Financial planners routinely experience objections from clients in gaining agreement to proceed with implementing recommendations. Objections however, are actually what psychologists refer to as resistance, and are a normal part of the behavioral change process. Research suggests that a financial planner’s natural response to client resistance- providing more information, encouraging, warning, or confronting a client- results in a deeper seeding of the status quo of financial behavior, and in… Show more

"Financial planners routinely experience objections from clients in gaining agreement to proceed with implementing recommendations. Objections however, are actually what psychologists refer to as resistance, and are a normal part of the behavioral change process. Research suggests that a financial planner’s natural response to client resistance- providing more information, encouraging, warning, or confronting a client- results in a deeper seeding of the status quo of financial behavior, and in fact, increases the odds that the client will not change. To be most effective in helping clients act on financial planning recommendations, it is critical to recognize the stage of change in which the client currently resides, identify resistance when it is present, and tailor one’s approach accordingly. This article explores the stages of change, precursors of change, ambivalence and resistance towards change, and introduces evidenced-based techniques financial planners can use to help a client successfully navigate through the change process." Show less

Do you overspend? Undersave? Keep secrets about money from a spouse or family member? Are you anxious about dealing with your finances? If so, you are not alone. Let's face it–just about all of have complicated, if not downright dysfunctional, relationships with money.

As Drs. Brad and Ted Klontz, a father and son team of pioneers in the emerging field of financial psychology explain, our disordered relationships with money aren’t our fault. They don’t stem from a lack of knowledge or a… Show more

Do you overspend? Undersave? Keep secrets about money from a spouse or family member? Are you anxious about dealing with your finances? If so, you are not alone. Let's face it–just about all of have complicated, if not downright dysfunctional, relationships with money.

As Drs. Brad and Ted Klontz, a father and son team of pioneers in the emerging field of financial psychology explain, our disordered relationships with money aren’t our fault. They don’t stem from a lack of knowledge or a failure of will. Instead, they are a product of subconscious beliefs and thought patterns, rooted in our childhoods, that are so deeply ingrained in us, they shape the way we deal with money our entire adult lives. But we are not powerless. By looking deep into ourselves and our pasts, we can learn to recognize these negative and self-defeating patterns of thinking, and replace them with better, healthier ones.

Drawing on their decades of experience helping patients resolve their troubling issues with money, the Klontzes and describe the twelve most common “money disorders” - like financial infidelity, money avoidance, compulsive shopping, financial enabling, and more — and explain how we can learn to identify them, understand their root causes, and ultimately overcome them.

So whether you want to learn how to make better financial decision, have more open communication with your spouse or kids about the family finances, or simply be better equipped to deal with the challenges of these tough economic times, this book will help you repair your dysfunctional relationship with money and live a healthier financial life.

From the Hardcover edition.
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As financial stress mounts and an economic crash looms, Wired for Wealth shows you that the biggest threat to your financial health is not a recession; it's your brain. Markets go up and markets go down, but one fact holds true: Your money scripts—the unconscious core beliefs you hold about money—will determine whether you win or lose in the long run. But there is hope. Drawing on the results of a landmark survey of people's money habits, as well as their decades of work improving their… Show more

As financial stress mounts and an economic crash looms, Wired for Wealth shows you that the biggest threat to your financial health is not a recession; it's your brain. Markets go up and markets go down, but one fact holds true: Your money scripts—the unconscious core beliefs you hold about money—will determine whether you win or lose in the long run. But there is hope. Drawing on the results of a landmark survey of people's money habits, as well as their decades of work improving their clients' financial lives, renowned financial psychologists Drs. Brad Klontz and Ted Klontz and financial planner Rick Kahler, CFP® show you how you can rewire your brain for wealth. Their unexpected insights show you how you can free yourself from excessive debt, financial stress, money avoidance, and a lack of savings. You'll discover:

- The top 10 money scripts that mess up people's financial lives—and how to change them
- How to identify your 'financial comfort zone'—and how to break through it
- How to curtail family money issues, including financial infidelity, financially dependent children, and conflicts over money
- What to do if your money scripts are keeping you poor by overspending, underspending, excessive debt, lack of savings, and lack of retirement planning
- What to do if your money scripts keeping you poor in spirit—how to release guilt and fear for good, and be at peace with what you have.

Entertaining and enlightening, Wired for Wealth will put you in control of your finances and enable you to break through to new levels of wealth and security. Show less

Ebenezer Scrooge would seem an unlikely source from which to glean financial wisdom. However, Dickens' classic tale of how Scrooge left behind his miserly ways and transformed into a joyful, compassionate and generous man is a powerful model we all can benefit from today.

Unlike other financial planning books that focus narrowly on the 'dollar and cents' of money, The Financial Wisdom of Ebenezer Scrooge is an easy read. Written for the layperson, this book provides advice that is… Show more

Ebenezer Scrooge would seem an unlikely source from which to glean financial wisdom. However, Dickens' classic tale of how Scrooge left behind his miserly ways and transformed into a joyful, compassionate and generous man is a powerful model we all can benefit from today.

Unlike other financial planning books that focus narrowly on the 'dollar and cents' of money, The Financial Wisdom of Ebenezer Scrooge is an easy read. Written for the layperson, this book provides advice that is simple, transformational and timeless.

Through the process they've used successfully with their clients, the authors will show you how to recognize ways unconscious Money Scripts may keep you trapped; how to deal with the relationship between your net worth and your self-worth; how to discover your authentic goals and values; how to permanently change self-destructive money behaviors; and, through five principles of financial prosperity, how to leave a family legacy of financial wellness. Show less

This new guide presents a new model for helping clients achieve balanced and healthy financial lives- called integrated financial planning. It combines the interior, emotional aspects of finance with exterior financial knowledge and provides the advisor with an expanded set of tools for working with clients to create and maintain financial health.

Facilitating Financial Health integrates the fields of psychotherapy, coaching, and financial planning, equipping financial professionals… Show more

This new guide presents a new model for helping clients achieve balanced and healthy financial lives- called integrated financial planning. It combines the interior, emotional aspects of finance with exterior financial knowledge and provides the advisor with an expanded set of tools for working with clients to create and maintain financial health.

Facilitating Financial Health integrates the fields of psychotherapy, coaching, and financial planning, equipping financial professionals with techniques to enhance their effectiveness by working with both the exterior and interior aspects of a client s financial health. Integrated financial planning encourages you to think beyond the traditional boundaries of your practice and to serve clients far more effectively.

Includes a "Decision Tree" with guidelines for deciding when it is appropriate for planners to work with client's interior issues themselves and when it is appropriate to refer clients to or partner with coaches or therapists. Show less