Beyond Finance is the first company in the debt consolidation and support industry to provide clients with financial therapy. These are two completely different practices to offer holistic care for people once they have moved beyond debt. Beyond Finance’s Nathan Astle, CFT is at the forefront of this practice.
According to the Financial Therapy Association, this practice is “a process informed by therapeutic and financial competencies that helps people think, feel, communicate, and behave differently with money to improve overall well-being through evidence-based practices and interventions.”
Astle believes achieving financial wellness is complete when you address the emotional component connected to how debt makes someone feel and how to utilize those feelings to move beyond debt. It’s what he calls “the human side of money.”
Forbes was interested in how this necessary practice helps people, so they called upon three experts in the field, including Astle.
There is a valid concern that we need to ‘protect the public’ from a misrepresentation of what our field does. It would be unethical if a financial professional called themselves a financial therapist without being forthcoming about their lack of training in diagnosis and other traditional therapy treatment modalities.
The article discusses emotional triggers about debt, how the client and practitioner must approach each discussion, and ultimately, how it creates a renewed confidence in finances.