Financial Trauma via gambling
Essential Elements of Financial Trauma Associated with Gambling: - Individuals with gambling issues frequently deplete their savings, exhaust credit cards, and may risk losing their homes, vehicles, and other valuable assets to address outstanding debts. - Problematic gambling results in challenges in covering essential expenses such as rent, food, utilities, and healthcare. - This frequently leads to substantial, unmanageable debts, resulting in the reliance on high-interest payday loans or borrowing from friends and family. - The financial repercussions can endure for years, often persisting well beyond the cessation of gambling activities. - Gambling harm impacts families, with studies showing that an individual's gambling issues adversely affect at least 6–7 others, frequently leading to financial difficulties for partners and children. - Financial stress causes anguish and suffering and may result in reduced productivity, employment termination, and in some cases, unlawful actions to support the addiction, including fraud.
Therapy approach
- Working with feelings of grief, anger, guilt, and the fear of backlash.
- Strengthening boundaries and communication.
- Encouraging the person to be honest about their gambling issue.
- Supporting the person with the problem to seek professional help.
Session formats
- Trauma‑informed counselling appointments in person or via telehealth.
FAQs
Is Financial Psychotherapy the same as a financial coach, financial advisor or financial counsellor?
No it is not. A financial coach, financial advisor or financial counsellor generally focus on financial goals and actions to achieve those goals. Monetary psychotherapy focuses on the emotional and psychological patterns relating to money. Monetary Psychotherapy focuses on our mindset relating to money and the anxieties associated with it. When appropriate specialised financial coaches/advisors/counsellors will be incorporated into our discussions and consultations.