August 23, 2019

Couples & Money: Financial Social Work to the Rescue

In the May/June 2011 issue of Social Work Today,  Financial Social Work experts discuss relationship issues relative to the stresses from financial difficulties.

Money is one of the big issues that bring couples into therapy. Learn about a relatively new social work specialty that is offering solutions.

With the divorce rate in the United States hovering around 50%, combined with an economic recession that has affected all demographics, it should come as no surprise that more couples are turning to social workers for financial therapy. While financial difficulties may not be the root of all relationship strife or marital demise, they certainly play an important role—one that therapists are addressing.  . . .

While disclosing financial stressors is paramount in couple’s financial therapy, a term being bandied about these days is “financial infidelity.” As Bill Frederick, LCSW, PC, of Solution Therapy Center in Muncie, IN, explains, many couples often employ the “this is my money and that is your money” approach—with the implicit understanding of who buys the groceries, who pays for the truck, who covers the electric bill, and so on. (read full article)