How much does financial therapy cost in California?
Financial therapy is an emerging field that blends financial counseling with emotional and psychological support, offering a unique approach to managing money-related stress and improving overall financial wellbeing. If you’re in California and considering financial therapy, you might be wondering about the cost. Like many types of specialized therapy, the price can vary based on several factors. In this post, we’ll break down what you can expect to pay, what influences the cost, and how to determine if financial therapy is worth the investment.
Understanding Financial Therapy: What Are You Paying For?
Financial therapy goes beyond traditional financial planning or budgeting advice. It addresses the underlying emotions, beliefs, and behaviors driving your financial decisions. Think, “Why do I do what I do with my money?” A financial therapist helps you navigate not just the numbers but the mindset and habits that impact your financial life. Sessions might include exploring the root causes of financial stress and anxiety, core money beliefs, money scarcity or vigilance, financial infidelity, money perfectionism, healing from financial trauma, setting clear goals for the future, and developing healthier relationships with money.
Factors That Influence the Cost
Location and Region
California’s cost of living is notably higher than in other states, and this can reflect in the cost of services like financial therapy. Major urban areas like San Francisco, Los Angeles, and San Diego tend to have higher rates than smaller towns or rural areas.
The Therapist’s Expertise and Credentials
Financial therapists typically hold credentials in either financial planning or mental health fields, some hold both. Those with advanced certifications (like the Certified Financial Therapist-I™ designation) or extensive experience often charge higher rates.
Session Length and Frequency
Financial therapy sessions usually last between 50 minutes to an hour, though some therapists may offer longer or shorter sessions. For example, financial therapy intensives can run from 2-8 hours. The frequency of sessions will also affect overall costs. While some clients benefit from weekly sessions, others might only need biweekly or monthly appointments.
Service Delivery Mode (In-Person vs. Virtual)
The shift to virtual therapy has broadened access and, in some cases, reduced costs. However, in-person sessions in California, especially in high-demand areas, may carry a premium.
Package Deals and Reduced Fee Options
Some therapists offer discounts for clients who commit to multiple sessions upfront. Additionally, some financial therapists may operate on a sliding scale, adjusting their rates based on your income and ability to pay.
Typical Costs for Financial Therapy in California
In California, the cost of financial therapy sessions can vary widely depending on the factors mentioned above. Here’s a general idea:
- Average Per-Session Cost: $150 - $400
- High-end specialists (with advanced credentials or in premium locations): $400 - $700 per session
- Sliding Scale, Reduced Fee, or Community-Based Options: $75 - $150 per session
It’s important to remember that these are average ranges. Some therapists may charge more or less depending on their specific offerings and your needs.
Is Financial Therapy Worth the Cost?
Investing in financial therapy can be life-changing, especially if you’re dealing with chronic financial stress, have unproductive financial habits, or face significant financial decisions. The cost may seem high, but consider it as an investment in both your financial and emotional wellbeing. Addressing the psychological factors behind your financial challenges can lead to long-term savings, better financial decisions, and peace of mind.
Alternatives and Additional Support
If traditional financial therapy is out of your budget, consider these alternatives:
- Group Sessions or Workshops: Some therapists offer group programs at a lower cost.
- Financial Coaching: If you’re primarily seeking guidance on budgeting and debt management, financial coaching might be a more affordable option.
- Self-Guided Programs: Books, courses, and online resources focusing on financial therapy principles can be a good starting point.
✴️Navigating financial growth and security for middle-income families in California
Final Thoughts
Financial therapy in California is an investment in both your financial health and overall wellbeing. The cost varies based on several factors, but for many people, the benefits far outweigh the expense. If you’re feeling stuck, stressed, or overwhelmed by your financial situation, financial therapy might be the key to achieving clarity and peace.
Access financial therapy through Koru Financial Therapy
At Koru Financial Therapy in California, we understand the challenges of accessing the right care and treatment for both your emotional and financial needs. We offer a variety of Options & Fees and offered a tailored approach to financial wellbeing.
Whether you’re in a high-cost area or seeking more affordable options, there are pathways available to find the financial help you need. See the following financial therapy blog posts for additional information and resources.
About the Author
Mariah is the founder of Koru Financial Therapy, a practice dedicated to helping Californians achieve financial growth, strength, and peace. With a background in both business finance and mental health, Mariah specializes in guiding clients through major life transitions and helping them develop healthier relationships with money. As a Certified Financial Therapist - I™ and Human Design enthusiast, Mariah brings a holistic approach to financial wellness. You can find more insights on financial therapy, money management, generational wealth, and personal growth on the Koru Financial Therapy blog.
