Financial wellness

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Improve lives. </p> <div class="wysiwyg lengthy">Take action with APA Services, our companion professional organization.</div> </div> </div> </a> </div> </div> </section> </section> </div> </div> <div class="megamenu-formatted-link"> <div class="rich-formatted-content"> <div class="rich-content"> <a title="news-index-config" href="/news">All News and advocacy<i class="fas fa-chevron-right" aria-hidden="true"></i></a> </div> </div> </div> </div> </div> </li> <li role="menuitem" class="showFrmL"> <a href="/about">About APA</a> </li> <li role="menuitem" class="showFrmL"> <a href="/events">Events</a> </li> <li role="menuitem" class="showFrmL"> <a href="/members">Membership</a> </li> </ul> </nav> </div> <div id="maincontent" role="main" tabindex="-1"> <div class="mainwrap one_col_a text-center dx-dynamic-page" id="mainwrap"> <div class="body-container full-width"> <main class="main"> <div typeof="Region" resource="Top Content"> <div class="topcontent" id="topcontent" > <section class="breadcrumbs inline-breadcrumb"> <div class="container"> <div id="breadcrumbs"> <span><a href="/">Home</a></span> <span class="breadcrumb-sep"> <i role="presentation" class="fas fa-angle-right"></i> </span> <span> <a href="/research-practice">Research and Practice</a> </span> <span class="breadcrumb-sep"> <i role="presentation" class="fas fa-angle-right"></i> </span> </div> </div> </section> <hgroup class="pageHeader"> <h1 >Financial wellness</h1> </hgroup> </div> </div> <section class="content" id="ctcol"> <div typeof="Region" resource="Main"> <div class="oneCol_content" > <div class="oneFull dynamic"> <section id="featuredFourByOneOrTwo_321136" class="featureRichItem"> <section class="linkWidget tile"> <div class="widgetWrapper tileWidget fourPerRow default"> <div class="module first"> <a href="/members/content/money-relationship" target="_self" class="module-link"> <div class="body"> <figure class="tile "> <img src="/images/article-brad-klontz_tcm7-313714_w320_n.png" alt="Brad Klontz, PsyD, CFP"> </figure> <div class="desc"> <p class="title">Brad Klontz is concerned with how experiences affect our relationship with money</p> <div class="wysiwyg"><p>Brad Klontz, PsyD, CFP, thinks all clinical psychologists should be much more intentional about helping patients deal with their feelings and belief systems around money, because money is one of the top stressors in the lives of Americans.</p></div> </div> </div> </a> </div> <div class="module"> <a href="/topics/money/family-financial-strain" target="_self" class="module-link"> <div class="body"> <figure class="tile "> <img src="/images/Financial%20Stress-tile_tcm7-312939_w320_n.jpg" alt="Mom examining bills with child in background"> </figure> <div class="desc"> <p class="title">Help for kids stressed about family finances</p> <div class="wysiwyg"><p>Financial strain can be hard on kids due to its effects on parents, but there are ways to help, backed up by decades of psychological research</p></div> </div> </div> </a> </div> <div class="module"> <a href="/monitor/2021/11/datapoint-earn" target="_self" class="module-link"> <div class="body"> <figure class="tile "> <img src="/images/2021-11-datapoint-earn_tcm7-299053_w320_n.png" alt="money floating in the sky"> </figure> <div class="desc"> <p class="title">Datapoint: How much do psychology graduates earn?</p> <div class="wysiwyg"><p>Salaries of graduates with psychology degrees in the United States vary widely, with those who have higher degrees tending to earn more.</p></div> </div> </div> </a> </div> <div class="module last"> <a href="/members/content/secure/financing-your-future" target="_self" class="module-link"> <div class="body"> <figure class="tile "> <img src="/images/article-financing-your-future_tcm7-259266_w320_n.jpg" alt="Debt Smarts: Financing Your Future in Psychology"> </figure> <div class="desc"> <p class="title">Debt smarts: Financing your future in psychology</p> <div class="wysiwyg"><p>Topics covered include loan forgiveness, refinancing and consolidation, how to avoid scams, the emotional toll of debt and more.</p></div> </div> </div> </a> </div> </div> <div > <div class="rich-formatted-content"> <div class="rich-content"> <a href="/research-practice/financial-wellness/more">More financial wellness articles<i class="fas fa-chevron-right" aria-hidden="true"></i></a> </div> </div> </div> </section> </section> </div> </div> <script type="text/javascript"> jQuery(document).ready(function () { if (false == true) { var loader = jQuery(this).find('#loader_321136'); 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height: 177px;"/> </p> </div> </div> </section> </section> <div class="full-width lightbg bg-light-neutral-1"> <section class="twoCol_content " id="twoCol_content_29841901"> <section class="oneHalf first"> <div class="featureRichItem "> <div class="wysiwyg lengthy" ><img src="/images/tile-press-student-loan-forgiveness-public-service_tcm7-298364_w1024_n.jpg" alt="Woman at desk working on laptop" data-aspect="0" style="width: 740px; height: 380px;"/> </div> </div> </section> <section class="oneHalf last"> <div class="featureRichItem "> <h2 >APA welcomes student loan forgiveness for psychologists in public service</h2> <div class="wysiwyg lengthy" ><p>Long-sought changes will ease burden on students, encourage more to work in underserved communities.</p><p><a class="btnStrongMed" href="/news/press/releases/2021/10/student-loan-forgiveness-public-service">Read article</a></p> </div> </div> </section> </section> </div> <div class="oneCol_content" > <div class="oneFull dynamic"> <section class="featureRichItem"> <section class="linkWidget tile"> <div class="widgetWrapper tileWidget threePerRow default"> <div class="module first"> <a href="/members/content/secure/financing-your-future" target="_self" class="module-link"> <div class="body"> <figure class="tile"> <img src="/images/article-financing-your-future_tcm7-259266_w320_n.jpg" alt="Debt Smarts: Financing Your Future in Psychology"> </figure> <div class="desc"> <div class="eyebrow">Booklet</div> <p class="title">Debt smarts: Financing your future in psychology</p> <div class="wysiwyg"><p>Topics covered include loan forgiveness, refinancing and consolidation, how to avoid scams, the emotional toll of debt and more.</p></div> </div> </div> </a> </div> <div class="module"> <a href="/members/content/managing-money-coronavirus" target="_self" class="module-link"> <div class="body"> <figure class="tile"> <img src="/images/article-managing-money-coronavirus_tcm7-277979_w320_n.jpg" alt="Woman sitting on couch taking notes"> </figure> <div class="desc"> <p class="title">Managing your money during and after coronavirus</p> <div class="wysiwyg"><p>What you can do to take care of your financial health and manage your money during and after COVID-19.</p></div> </div> </div> </a> </div> <div class="module last"> <a href="/members/content/secure/how-interest-accrues" target="_self" class="module-link"> <div class="body"> <figure class="tile"> <img src="/images/article-interest_tcm7-269950_w320_n.jpg" alt="All about interest: From how it accrues to how and when it capitalizes "> </figure> <div class="desc"> <p class="title">All about interest: From how it accrues to how and when it capitalizes </p> <div class="wysiwyg"><p>Capitalized interest is when unpaid interest is added to your student loan balance during periods when you aren’t making payments. </p></div> </div> </div> </a> </div> </div> </section> </section> </div> </div> <section class="oneCol_content " id="oneCol_content_25520401"> <section class="oneFull"> <section class="featureRichItem"> <section class="adPackageItem ad-2-300x250"> <div class="rightside"> <div class="adWrap"> <div id="gpt-ad-255204010" data-ai-iframe data-ai-action="paid-ad-click" data-ai-target="gpt-ad-255204010"> <script> var layout = document.querySelector('.two_col_b') ? 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In this highly interactive webinar, our panel of NIH program officers and award recipients will answer your questions about the NIH LRPs.</p> <ul> <li> <a href="/education-career/training/loan-repayment-programs-slides.pdf" title='' target='_blank'>Slide presentation (PDF, 2.3MB)<i class="fas fa-up-right-from-square" aria-label="opens in new window" title="opens in new window"></i></a> </li> <li> <a href="/education-career/training/loan-repayment-programs-transcript.pdf" title='The NIH Will Pay Off Your Loans: Transcript' target='_blank'>Transcript (PDF, 191KB)<i class="fas fa-up-right-from-square" aria-label="opens in new window" title="opens in new window"></i></a> </li> </ul> </div> </section> </section> </section> </section> </section> </section> <section class="twoCol_content " id="twoCol_content_26241202"> <section class="oneHalf first"> <div class="featureRichItem "> <h2 >4 Steps for Public Service Loan Forgiveness</h2> <div class="wysiwyg lengthy" ><p>It can be difficult to get Public Service Loan Forgiveness (PSLF) without following specific steps. APA has assembled some lessons and tips in one short video for you.</p> </div> </div> </section> <section class="oneHalf last"> <section class="featureRichItem"> <section class="externalScriptContent" > <div class="embed-container"><iframe src="https://player.vimeo.com/video/1016122142?dnt=1&badge=0&autopause=0&player_id=0&app_id=58479" frameborder="0" allow="autoplay; fullscreen; picture-in-picture" title="4 Steps for Public Service Loan Forgiveness"></iframe></div> </section></section> </section> </section> <section class="twoCol_content " id="twoCol_content_25520501"> <section class="oneHalf first"> <div class="featureRichItem "> <h2 >Webinar: Financial Foundations for Newer Psychologists </h2> <div class="wysiwyg lengthy" ><p>Kevin N. Gormley, CFP, shares the most imperative financial choices that psychologists can make now to have the greatest chance for financial success in the future. This webinar covers financial concepts such as company pensions, retirement savings (401k or 403b) and employer match, retirement investments, health care benefits and Health Savings Accounts, disability insurance, student loans, saving for the future, living for today, credit cards, credit score, financial identity protection, financial technology and the psychology of money. This event is hosted by Committee on Early Career Psychologists member Erika Carr, PhD.</p> </div> </div> </section> <section class="oneHalf last"> <section class="featureRichItem"> <section class="externalScriptContent" > <div class="fallbackText"><p>This content is disabled due to your privacy settings. To re-enable, please adjust your cookie preferences.</p></div> <div class="embed-container"><iframe class="optanon-category-C0003" data-src="https://www.youtube.com/embed/u9z3k9QHWJA?rel=0&showinfo=0" frameborder="0" allowfullscreen></iframe></div> </section></section> </section> </section> <div class="section-divider"> </div> <section class="oneCol_content " id="oneCol_content_25550401"> <section class="oneFull"> <div class="featureRichItem "> <h2 >Saving and Investing</h2> </div> </section> </section> <div class="oneCol_content" > <div class="oneFull dynamic"> <section class="featureRichItem"> <section class="linkWidget tile"> <div class="widgetWrapper tileWidget threePerRow default"> <div class="module first"> <a href="/members/content/secure/beginners-guide-investment-vehicles" target="_self" class="module-link"> <div class="body"> <figure class="tile"> <img src="/images/article-beginners-guide-investment-vehicles_tcm7-238286_w320_n.jpg" alt="beginners guide to investment vehicles"> </figure> <div class="desc"> <p class="title">A beginner’s guide to investment vehicles</p> <div class="wysiwyg"><p>Take a look at the most common investment vehicles that will be available to a beginner investor.</p></div> </div> </div> </a> </div> <div class="module"> <a href="/members/content/secure/create-investment-strategy-early-career" target="_self" class="module-link"> <div class="body"> <figure class="tile"> <img src="/images/article-create-investment-strategy-early-career_tcm7-238304_w320_n.jpg" alt="Nest egg representing investment early career professionals"> </figure> <div class="desc"> <p class="title">How to create an investment strategy early in your career</p> <div class="wysiwyg"><p>Dive into the actual process of picking an investment strategy that works the best for your career and life.</p></div> </div> </div> </a> </div> <div class="module last"> <a href="/members/content/secure/early-retirement" target="_self" class="module-link"> <div class="body"> <figure class="tile"> <img src="/images/article-early-retirement_tcm7-238311_w320_n.jpg" alt="Cheers to morning coffee celebrating retirement"> </figure> <div class="desc"> <p class="title">6 steps for actually achieving early retirement</p> <div class="wysiwyg"><p>The most common strategy requires maximizing your investment portfolio to create a large enough nest egg to support decades without working and living as minimally as possible early in your career.</p></div> </div> </div> </a> </div> </div> </section> </section> </div> </div> <div class="section-divider"> </div> <section class="oneCol_content " id="oneCol_content_25992701"> <section class="overarch"> <h2 >Related Topics</h2> </section> <section class="oneFull"> <section class="featureRichItem"> <section class="linkWidget tile square"> <div class="widgetWrapper tileWidget fourPerRow default "> <div class="module first"> <a class="module-link" href="/education-career/job-search/interview-negotiate" target="_self" > <div 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