Webinar 2017-301: Spenders and Savers: Conflict and Resolution Strategies

March 3, 2017 (1:00 PM EST, 12:00 CST, 11:00 MST, and 10:00 PST)

  
  • Webinar Description: 
  • Financial problems are consistently reported as a top stressor for Americans and a top contributor to couple financial conflict. Evidence suggests that money arguments are less related to the amount of family income and more related to conflict about how decisions regarding the allocation of that family income are made. This presentation will review how spending personality plays a role in the allocation of household resources and ultimate conflict. Strategies for resolving conflict will be addressed.
  • CEUs:
    • AFC® - Application has been approved for one (1) hour of AFC® credit.
    • CFP® - Application has been approved for one (1) hour of CFP® credit.
    • Mental Health CEUs - Application has been approved for one (1) hour of LMFT, LMHC, LCSW credits through the Florida Board.
  • Who Should Attend: This webinar is designed primarily for experienced practitioners in both of the following fields of practice and in academia:
    • Financial Professionals
    • Mental Health Professionals
  • Cost: $25 Non-members, $10 Members, $5 Student Members
  • Levels: This session is best suited for bachelors, masters and/or doctoral prepared attendees.
  • At the end of this session, participants should be able to:
    • Identify saving and spending money personality styles.
    • Understand how money personality contributes to financial conflict.

About the Presenters - Sonya Britt, Ph.D.,  CFP®

Read CV Here

Sonya Britt, Ph.D.,  CFP® is an Associate Professor of Personal Financial Planning at Kansas State University and a Certified Financial PlannerTM. Britt has devoted her research to the area of financial therapy utilizing her educational background in marriage and family therapy (M.S.) and financial planning (Ph.D.).  Britt’s research has focused on the predictors of money arguments and their influence on relationship satisfaction and divorce and has been referenced in the New York Times, the Wall Street Journal, Kiplinger’s, and Yahoo! Finance to name a few. Her developmental work in the emerging field of financial therapy is summarized in Financial Therapy: Theory, Research, and Practice with co-editors Drs. Brad Klontz and Kristy Archuleta. Relationship dynamics are influenced by physiological stress, in which Britt’s research has been featured in the New York Times and Investment News, among others. Britt is co-editor of another book with Dr. Dorothy Durband, Student Financial Literacy: Campus-Based Program Development, which leads readers through the process of developing or enhancing financial literacy programs for college students. Britt’s work at the financial counseling centers at Texas Tech University and Kansas State University have guided her effectiveness of financial counseling research agenda.
 

Agenda - 

  1. Discuss the top stressors for couples, including money.
  2. Review literature on spouse’s perception of spending personality on couple’s financial conflict.
  3. Provide an overview of the Flourishing Families (2007 - 2015) data set.
  4. Review statistics related to:
    1. How often are financial matters a problem in your relationship?
    2. Power dynamics (e.g., When it comes to money, my partner’s opinion usually wins out.)
  5. Discuss the top predictors of financial conflict for husbands and wives.
  6. Review implications for financial therapists:
    1. Financial conflict is a top predictor of relationship satisfaction and divorce.
    2. Married couples are better prepared for retirement.
    3. Feeling that your partner is a spender could contribute to lower asset accumulation.

Reference List

  • APA. (2015). American Psychological Association survey shows money stress weighing on Americans’ health nationwide. Retrieved April 24, 2016 from www.apa.org/news/press/releases/2015/02/money-stress.aspx
  • Britt, S. L., & Huston, S. J. (2012). The role of money arguments in marriage. Journal of Family and Economic Issues, 33(4), 464-476.
  • Britt, S. L., Huston, S. J., & Durband, D. B. (2010). The determinants of money arguments between spouses. Journal of Financial Therapy, 1(1), 41-59.
  • Dew, J. (2007). Two sides of the same coin? The differing roles of assets and consumer debt in marriage. Journal of Family and Economic Issues, 28, 89-104.
  • Johnson, J. H. (1986). Life events as stressors in childhood and adolescence. Beverly Hills, CA: Sage.
  • Rick, S. I., Small, D. A., & Finkel, E. J. (2009, September 30). Fatal (fiscal) attraction: Spendthrifts and tightwads in marriage. Retrieved from ssrn.com/abstract=1339240
  • Tolar, T. (2012). Do you hide purchases from your spouse? Retrieved May 4, 2016 from www.leavedebtbehind.com/lifestyle/family-finances/do-you-hide-purchases-from-your-spouse/

CFP® Objectives

B.15. Principles of communication and counseling

a. Explain the applications of counseling theory to financial planning practice.
b. Demonstrate how a planner can develop a relationship of honesty and trust in client interaction.
c. Assess the components of communications including linguistic signs and non-verbal communications.
d. Apply active listening skills when communicating with clients.
e. Select appropriate counseling and communication techniques for use with individual clients.

Participant Objectives

At the end of this program, both the financial and mental health participant will be able to:

  • Understand the contributors to couple financial conflict
  • Identify saver/spender personality types
  • Develop tools for working with couple financial conflict

Registration Notes: Registration fee is due and payable upon registration. Cancellations are accepted through March 3, 2017 and will incur a $5.00 administrative charge. Login information will be sent about three days before the webinar. In order to receive your CEU credit, you must login with your full name.

Register Here

  • FTA Professional Members: $10
  • FTA Student Members: $5
  • Non-members: $25 Please consider joining FTA! Click here: Membership