Abstract

Abstract:

The American Psychological Association's annual Stress in America survey revealed that money is America's biggest stressor, for the seventh year in a row. According to the 2015 results, 72% of Americans are stressed about money, and financial anxiety adversely affects several areas of their lives. Yet the only financial disorder recognized by the psychological community as treatable is pathological gambling, a problem that affects 1%–2% of the world (Petry, 2005). This article is meant to increase awareness about the prevalence of financial anxiety, a money-based anxiety disorder, and to propose that counselors become adept at treating the condition instead of referring out to consumer credit companies, which are not equipped to manage anxiety.

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Additional Information

ISSN
2332-0583
Print ISSN
1522-2527
Pages
pp. 437-447
Launched on MUSE
2019-02-05
Open Access
No
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