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Personal Financial Management and Business

  • Greg Bohall
  • Mary-Jo Bautista
Chapter
  • 418 Downloads

Abstract

In clinical work, psychologists provide comprehensive care for the individuals that they serve. In review of The Psychologist’s Treatment Plan, all life areas are interconnected. For example, if an employee experiences interpersonal conflicts at work, this directly impacts thought processes, emotional reactions, and ultimately behaviors. These provoked behaviors may include displaced anger at home toward the family, loss of employment due to continued interpersonal conflict at work, and an inability to pay bills. Therefore, we would like to increase awareness of personal financial management from The Psychologist’s Treatment Plan. Since psychologists are not educated in financial management, earn low or no income during doctoral clinical rotations, receive lower entry-level pay when compared to more experienced psychologists, and may not understand the role of monitoring expenditures, it can be reasonably concluded that many early career professionals in psychology are experiencing crippling debt. These issues coupled with the moral obligation to serve others versus focusing on the financial stability that we all need creates quite a conundrum. The goal of this chapter is to address this struggle and provide a foundational road map for you to follow to address this issue. In this chapter, we will outline the components of the moral obligation versus financial stability dilemma, review the financial lifestyle change, provide methods to eliminate debt, outline the rationale to why the career should be viewed as a business, define and demonstrate areas of the business plan, and review disciplines in the financial and business management fields.

Keywords

Employment income Personal expenditures Business plan Debt management 

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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  • Greg Bohall
    • 1
  • Mary-Jo Bautista
    • 2
  1. 1.CHE Behavioral Health ServicesLos AngelesUSA
  2. 2.BellflowerUSA

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