Petition for the Division of Financial Psychology of the American Psychological Association
Dear American Psychological Association:
We ask that you consider our petition to establish a new APA division, Division of Financial Psychology.
The APA’s annual “Stress in America” Survey and other data suggest that concerns about financial issues are significant, multi-dimensional and pervasive. Results of the APA’s surveys consistently indicate money as a primary source of stress in people’s lives. In four out of the last five years, money placed first on the APA’s Sources of Stress list, a pattern whose origin pre-dates our current recessionary times. We believe that creating a Division that specializes in the scholarly and practical study of the financial lives of individuals, couples, families and groups is of inherent benefit and value to the field of psychology.
Practitioners and researchers in the field of financial therapy and counseling will be served by this division. The recent creation of the Financial Therapy Association indicates the need for an organization that incorporates the concerns of professionals in both financial and behavioral fields. Developing theory, research and evidence-based interventions in this field will be a rich addition to the field of psychology.
The study of family businesses and their complex dynamics is considered to be a part of this division’s interests. Research on family businesses and training on best practices in family business and wealth consulting is of interest to our division.
The study of behavioral economics is both timely and relevant to our division. The growing body of research and practical interventions related to the principles of behavioral economics will be incorporated into our division.
Research and training in the field of financial literacy education and the establishment of programs in educational institutions is of interest to us as well.
Establishment of a Financial Psychology Division is congruent with the APA’s history of demonstrating leadership by addressing emerging issues and is in alignment with the guiding principles of the American Psychological Association. We appreciate your consideration of our petition to establish the Financial Psychology Division.
Sincerely,Mary Gresham, Ph.D.
Karen Weisgerber, Ph.D.
Brad Klontz, Ph.D.
Joe Lowrance, Psy.D.
If you are a member of the American Psychological Association and would like to help us begin a new division for financial psychology, please log in to the APA website and sign the petition electronically. If you have never set up your login to the website, you can do that using the MyAPA feature. We appreciate your support and hope that you will help us with this important change.Initial dues for the first year will be $10.00
Sincerely,
Dr. Mary Gresham
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