The Therapeutic Benefits of Financial Counseling

Friday, September 27, 2013
One of the most difficult aspects of being an HPF counselor is hearing the stress, fear, and desperation in the voice of many homeowners who call our HOPE Hotline. The prospect of losing one’s home is quite emotional and sometimes callers are literally at a loss of words to describe their predicament, let alone able to resolve it. A study published in the journal Science, and reported on by Scientific American, sheds light on the impact that such financial stress can have on cognitive performance. When confronted with scenarios reminding them of their own finances, test subjects with real-life monetary dilemmas performed significantly worse at solving problems and decision-making than those in a better financial position. What we have found, however, is that homeowners who take the time to seek counseling for their financial challenges find the process incredibly therapeutic. Being able to discuss their burdens relieves them of the frustration and daily stress they often have endured for years, particularly if and when they discover there are solutions they never knew or dreamed existed. If you are weighed down by monetary concerns, please call our HOPE Hotline at 888-995-HOPE (4673) today to speak to one of our HUD-certified counselors, who can draw upon their extensive knowledge to guide you in the right direction.