Category
Lifestyle
Assisted Choices
Trend cluster
Category
Financial
Therapy
Companies are increasingly emphasizing the importance of financial wellness.
2.4
Trend score
Trend
What is the Financial Therapy trend?
Financial Therapy: Aware that consumers are often stressed for money—and this is especially true during the COVID-19 pandemic which has left many without a job and forced small businesses to permanently close—financial companies are emphasizing the need for wellness and mental health practices in their industry.
Insight
The consumer insight behind the Financial Therapy trend
Due to the COVID-19 pandemic and the associated government-imposed health and safety measures, many individuals are experiencing exasperated financial stress. In order to alleviate their anxiety, consumers are looking for advice and tools that will help them in their unique situations. In being more organized, individuals feel better prepared and as a result, gain peace of mind when it comes to surviving the pandemic and beyond.
Trend themes
Themes within the Financial Therapy trend
Three behaviours holding the trend together01
Financial Wellness Emphasis
Companies are emphasizing the need for wellness and mental health practices in their industry as a result of consumers' financial stress caused by the COVID-19 pandemic.
02
Mental Health Coverage Accessibility
Modern Health is making mental health resources and coverage more accessible through a digital platform for employers and employees.
03
Psychology-Based Financial Management
The Planning Center takes a psychological approach to financial management, helping individuals make better decisions through both rational thinking and emotional intelligence.
Industry implications
What the Financial Therapy trend means for industry
Where the trend changes the playbookFor
FinTech
The financial technology industry can take a lead in offering innovative solutions that mitigate financial stress and promote financial wellness.
For
Human Resources
Human resources professionals can focus on implementing employee financial wellness programs as part of their benefits offerings, leading to happier and more productive employees.
For
Therapy and Counseling
Mental health professionals can collaborate with financial planners to offer therapy and counseling services that alleviate financial stress and promote financial wellness.
Workshop question
How can your brand help alleviate consumer stress?
Trend signals
Trend signals for Financial Therapy
Trend score 2.4 out of 10, from popularity 37%, activity 28%, freshness 9%.
Popularity37%
Activity28%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Financial Therapy trend
4 featured examples from Jul 13 to Dec 20, 2020CategoryLifestyle
Color-Coded Finance Apps
The 'Chromabill' Personal Financial Management App is Easy to Use
The financial technology industry could create disruptive innovations by creating alternative personal finance apps with a more user-friendly and interactive design, that use psyc…
CategoryBusiness
Streamlined Mental Health Benefits
Modern Health Makes Mental Health Coverage More Accessible
Modern Health's corporate insurance platform provides an opportunity for healthcare insurance companies to integrate digital mental health services in their offerings.
CategoryMarketing
Psychology-Inspired Financial Planning Platforms
The Planning Center Embraces Financial Wellness
The finance industry can benefit from incorporating psychological principles into their financial planning platforms to help users make better financial decisions.
CategoryMarketing
Employee Financial Wellness Platforms
Origin Helps Companies Relieve Employee Stress
Origin's emphasis on accessible financial planning presents opportunities for disruptive innovation within the financial services industry.
