OK, I appreciate the crucial role of trained mental health experts. But group therapy for money disorders?
Does insurance pay for that?
The New York Times reports that such treatment is a new, but growing field, "where budget planning meets psychological counseling."
The goal is to isolate and treat unhealthy and self-destructive financial behaviors that are not as extreme as pathological gambling, kleptomania or compulsive shopping, but nevertheless afflict large numbers of people.
It apparently is the perfect meeting of two still taboo subjects: money and mental health.
Working out treatment details: In addition to patients’ money issues, there are several other things to be worked out in this new treatment area.
For example, reports the Times, the American Psychological Association‘s professional code of ethics says that therapists should not enter into outside relationships with clients, including business arrangements like financial planning.
Of course, to pay the shrink’s bills, some patients probably already have consulted financial experts.
And the new bottom line is that the official treatment of money disorders now gives the phrase "I’m crazy for those Manolo Blahniks," uttered by over-spending Sex and the City wannabes, a whole new meaning.
David van Sunder
I’m not sure if it’s better that we now think people who spend too much are crazy. Does that relieve them of responsibility? Or is this just a way to make some money off people who probably shouldn’t be spending it? They’re the perfect ones to target since they spend too much, right? They’ll pay it.
I just hope that this helps these people rather than compounding their money spending problems.