We could all drown in the ocean of commentary, humor, musings, advice, philosophical meanderings and the like that has accumulated on the topic of money over the years. It seems there has never been a shortage of material for us to digest. And yet money remains a rather mysterious entity for most of us when we consider the role it plays in our day-to-day lives. Unraveling this mystery can be a complicated task, but one well worth undertaking.

I first became truly curious about money while running on the treadmill at the gym about ten years ago. At that time, I would often end my day sweating away in the cardio area while watching CNBC’s “market wrap up.” All eyes seemed to be glued to the television on those late afternoons as the internet bubble grew and everyone dreamed of getting rich.

Before long I began to hear a familiar refrain in Ron Insana’s daily commentary, “the psychology of the market”, “the psychology of the market”, “the psychology of the market”. On one particular day a light bulb came on: What exactly is the connection between “psychology” and “money”? And so I began investigating.

I had access to several psychology databases, and I began with these, searching for research involving “the psychology of money”. What I found was surprising, next to nothing had been done in terms of formal research. What existed was scant and disjointed. Not to be deterred, I expanded my search to include related topics: “saving,” “spending,” “investing,” and the like. Doing so led to a few more professional journal articles. While this research offered some insight into the issues, I was far from overwhelmed by the quantity and quality of what I found. There was not even any real agreement on the definition of the term: psychology of money.

What became clear was that my field, psychology, had neglected one of the most important topics in our culture: money. Most of the formal research I had found was conducted by university economic, finance, and business departments utilizing psychological concepts, but almost nothing by psychologists. Reflecting back, my clinical psychology graduate program offered no significant material attending to money related issues. My recent exploration indicates that nothing has changed much in clinical psychology programs around the country; money is still a taboo subject in the professional training of psychologists.

This silence was puzzling to me. I knew that money-related issues are a major cause of stress both individually and in relationships with others. Why would the field of psychology not be involved in more thorough research and training of one of the major sources of stress and conflict in the lives of Americans?

As I broadened my research on the internet, I found that there were plenty of books on money, though primarily devoted to making more of it. The assumption of all these books was that if the reader followed the enclosed rules and methods that he or she would make more money. But there was precious little consideration given in these books to the uncertainties of purely a pursuit of wealth. I found myself still seeking a broader perspective on people’s relationship with money. I wanted to know what is common or not, how do people struggle with money, how do they solve their money-related problems and much more.

I would be embarrassed to admit how much money I have spent on books over the years trying to understand our relationship with money. I have found a lot of good material, the best of which is often based on the experiences of professionals engaged in working directly with people on money-related issues. While the formal research on the psychology of money is growing, I believe there is a lot to be said for anecdotal evidence. I’m glad to report that there is a great deal of consistency among this material, forming a solid basis for the exploration and understanding of our relationships with money.

I cannot claim to have had any epiphanies, but gradually absorbing the essential elements of the material I’ve collected and realizing how this information coincides with my personal experiences has increased my awareness of my relationship with money. This growing awareness ultimately created positive change in many areas of my life, including a more effective relationship with money, a refinement in my goals and values, an ability to experience a greater sense of satisfaction and contentment, and better, more meaningful relationships with other people.

Please don’t get the wrong idea here….I haven’t reached some sort of nirvana-like state that frees me from the constraints of the material world. I still struggle with issues related to money as with many other aspect of my life, but I am definitely better equipped to deal with these struggles as a result of a more thorough understanding of my relationship with money.

My journey has reinforced a belief that our work is never truly completed; we need to accept the necessity of growth, change and adaptation. It is also important to include other people in this process. In my case, I have met a number of other professionals interested in the psychology of money. In addition, I’ve learned a lot from working with clients. I have benefited from these relationships as others have aided me by freely sharing their wisdom and experiences. There is also much to be gained just by knowing there are others who, like me, are trying to work with these issues, thus connecting me to a larger shared experience.

This website is an effort to further broaden that community of interest, to draw together more engaged participants in this important conversation, and to share what we learn to the benefit of us all.