Motivating and Helping the Overspending Client: A Stages-of-Change Model

Grubman, James; Bollerud, Kathleen; Holland, Cheryl R.
March 2011
Journal of Financial Planning;Mar2011, Vol. 24 Issue 3, p60
Academic Journal
Severe overspending habits can be highly resistant to change because they share many characteristics of addictions. Prochaska's Stages-of-Change Model has been used effectively in treating addictions and has been helpful in debt counseling. This article explains the Stages-of-Change Model using language easily accessible to financial advisers and their clients. Five stages of change are described in this paper: denial, ambivalence, preparation, action, and maintenance-along with the client's potential slide into relapse. The article provides guidance for assessing the overspending client's readiness to change and describes techniques for moving clients toward lasting success in controlling overspending habits.


Related Articles

  • The Power of Money. Pullen, Courtney // Journal of Financial Planning;Dec2010, Vol. 23 Issue 12, p50 

    The article focuses on issues concerning money and how financial planners address their clients in talking about money issues for financial planning. It presents three reasons why people struggle emotionally with money which include culture, childhood conditioning, and psychological relationship...

  • Interior Finance: The Micro-Level Exploration of Individual Client Money Scripts. Kahler, Rick // Journal of Financial Planning;Oct2012, Vol. 25 Issue 10, p20 

    The article discusses the financial planning profession in the context of the author's personal experience and from an interior finance perspective which means examining a client's beliefs, thoughts, and feelings about money and helping clients recognize behavior that impedes their decision...

  • CONFRONTING the OVERSPENDING CLIENT. McGee, Suzanne // Financial Planning;May2005, Vol. 35 Issue 5, p56 

    Offers tips and facts to financial planners on how to handle a conversation about a client's overspending. Explanation of clients on the reasons behind their overspending; Result of the idea of transforming a conservative portfolio; Significance of being optimistic during the conversation.

  • Behind the Mask. Atkinson, William // Financial Planning;Oct2011, Vol. 41 Issue 10, p105 

    The article provides information on how financial advisors can identify, manage and protect themselves from problem clients. Characteristics of problem clients are given which include being overspend, being in conflict with partners and are abusive to others. Katherine Vessenes, planner from...

  • Advisers Need to Meet Client Inertia Head On. Cornfield, Jill // Plan Advisor News;2013, p102 

    The article reports on a study which aimed to identify some of the hurdles faced by financial advisers in providing financial well-being to their clients. Advisers identified the top financial blunders made by their clients as overspending and under-saving and that clients' own fears often...

  • Support for families Financial advice in Kirklees.  // Children & Young People Now (Haymarket Business Publications Ltd;11/19/2009, p26 

    The article discusses the Citizens Advice programs of Moneywise that provides advice to families with financial difficulty through a children's center in Kirklees, England. It notes that Citizens Advice professionals offer telephone advice line, financial literacy, and center staff training for...

  • Debt deals. Henley, Will // Money Marketing;12/13/2007, p41 

    The article reports on the increasing numbers of clients seeking counsel on debt to financial advisers in Great Britain. It is stated that advisers can help their clients by referring to debt advice businesses or through consulting at local Citizens Advice Bureau (CAB). Other options for...

  • Labour to fund 500 debt advisers. Botbol, Nicolette // Mortgage Strategy;4/10/2006, p15 

    The article reports that the British government has pledged £45 million over two years to hire 500 debt advisers. This aims to help tens of thousands of people get their debts under control. A total 14 schemes have been approved by the Department of Trade and Industry. The approved schemes...

  • A duty of care to clients. Wright, Carl // Mortgage Strategy;4/6/2009, p20 

    The article discusses the importance and potential of claims management in the midst of financial crises. It examines the conflict of interests between claims firms and mortgage brokers and how their service differ from each other. It notes that claims management and debt management are...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics