Money Disorders

Internal Consistency and Convergent Validity of the Klontz Money Behavior Inventory (KMBI)

“…Prior research has found that gender is associated with vulnerability to some money disorders. For example, women are significantly more likely to exhibit compulsive buying behaviors (Lejoyeux & Weinstein, 2010), men are more likely to have gambling disorder (Canale, Archuleta, & Klontz, 2015), and women are more likely to be socialized to believe that financial dependence is acceptable (Newcomb & Rabow, 1999). To examine gender effects, a series of t-tests was conducted to determine whether the men and women sampled in the present study differed in their scores on the seven subscales of the KMBI.…”

Financial Therapy

“…Money scripts are underlying assumptions or beliefs about money that are often developed in childhood and carried out in adulthood (Klontz, Kahler, & Klontz, 2006 ;Klontz & Klontz, 2009 ). Money disorders are described as maladaptive patterns of fi nancial behavior that cause significant distress (Canale, Archuleta, & Klontz, 2015 ;Klontz & Klontz, 2009 ). Among other assessments, the Klontz Money Script Inventory (KMSI) (Klontz, Britt, Mentzer, & Klontz, 2011 ) and the Klontz Money Behavior Inventory (KMBI) (Klontz, Britt, Archuleta, & Klontz, 2012 ) are empirically driven tools designed to identify characteristics of various money scripts and money disorders, respectively.…”

“…The empirically developed KMBI identifi es nine money disorders: compulsive buying disorder , gambling disorder , workaholism , hoarding disorder , fi nancial denial , fi nancial dependence , fi nancial enmeshment , fi nancial enabling , and fi nancial infi delity . Two money disorders-gambling disorder and hoarding -are specifi c mental health diagnoses that need to be diagnosed and treated by a licensed mental health clinician (Canale et al, 2015 ). Certain money disorders have features related to mental health diagnoses defi ned in the 5th edition of the Diagnostic and Statistical Manual of Mental Health Disorders (DSM-5; American Psychiatric Association, 2013 ), namely compulsive buying disorder and workaholism .…”

“…Those who hold money disorders have faulty beliefs about money that they know they should change, but cannot seem to do so (Canale et al, 2015 ). The empirically developed KMBI identifi es nine money disorders: compulsive buying disorder , gambling disorder , workaholism , hoarding disorder , fi nancial denial , fi nancial dependence , fi nancial enmeshment , fi nancial enabling , and fi nancial infi delity .…”

“…The other money disorders could be a cause or related to relationship problems, which is considered to be an "other" diagnosis unrelated to disease or injury in the DSM-5. Although some money disorders do need to be diagnosed by a mental health clinician who is licensed to make mental health diagnoses, practitioners should screen for potential money disorders and make appropriate referrals and work with mental health clinician to treat money disorders for their clients (Canale et al, 2015 ).…”