FICEP Book 6th ED. Study Guide
Financial Counseling Is -Unpredictable
(Chapter 1) -Creative
-Interactive
-Spontaneous
-Weighing Options
-Suggesting Solutions
Financial Counseling Is Never -A substitute for professional therapy
(Chapter 1) -A formula that fits every member
-Solely an information gathering interview
-An opportunity for the counselor to take control
-An answer to every problem
-A guaranteed solution
Myth- Counselors can provide instant relief. Reality- It will take time to restore balance to members' finances.
(Chapter 1)
Myth- Budgeting means denying Reality- Cutting back may be necessary, and not everything needs sacrificed. A
oneself. (Chapter 1) budget puts the member in control.
Myth- Budgeting requires an accounting background. Reality- Budgeting requires an understanding of where money goes and a
(Chapter 1) determination to match spending to priorities.
Myth- People in financial trouble spend too much. Reality- Natural disasters, chronic medical conditions, divorce and other life events
(Chapter 1) can severely affect a budget.
Myth- Everyone follows counselors' recommendations Reality- Habits are difficult to change, and members may not accept
(Chapter 1) recommendations.
, Myth- The member will be as dedicated to making the Reality- Some members may not be willing to make the same commitment.
plan work as the counselor.
(Chapter 1)
Myth- If a plan fails, it is the member's fault. Reality- Lack of cooperation from family members and events beyond the
(Chapter 1) member's control may make it difficult or event impossible to follow the plan. The
counselor may also not clearly understand the member's real issues or effectively
communicate the solutions.
Myth- If a plan fails, it means the member can Reality- Early failure may be the foundation for later success. The member may be
never succeed. learning how to set a budget and follow a spending plan, while figuring out what
(Chapter 1) approaches will work for the family.
Myth- Counselors can help everyone. Reality- Some members may be in such dire financial straits that standard measures
(Chapter 1) are unlikely to be effective. Others will refuse to follow suggestions or a spending
plan.
Myth- Everyone wants to pay off debt. Reality- Some members are perfectly happy with manageable levels of debt.
(Chapter 1)
4 Program Necessities 1. Confidentiality
(Chapter 2) 2. Understanding
3.Multiple methods and subjects
4. Survey employees
To achieve confidentiality -Hold meetings off site or in private locations.
(Chapter 2) -Omit names when reporting appointments as part of program tracking
-Store records in an area that is inaccessible
-Ask co workers permission before reviewing account records, credit reports, and
other sensitive information.
-Do not consult other departments without obtaining permission
-Conduct as much correspondence as possible by email.
To achieve understanding It can be difficult to discuss money issues. Being compassionate, empathetic,
(Chapter 2) and patient during the meeting will build rapport. Self-worth can be tied to
financial wealth.
To achieve multiple methods and subjects They are at different life stages and have different needs, so be flexible.
(Chapter 2) Self- paced, classroom setting, online approach, etc. Find ways to mix up the
message and the delivery to appeal to different learning styles.
To achieve survey Guage interest in various topics, formally and informally.
results (Chapter 2)
Three Essential Counselor Qualities 1. Good Listener
(Chapter 3) 2. Nonjudgmental
3.Control the interview and other member interactions
Why is being a good listener an essential counselor Good listening skills are required to learn the full extent of a member's situation,
quality? understand behaviors and attitudes toward money, and determine what types of
(Chapter 3) spending plans are workable.
Financial Counseling Is -Unpredictable
(Chapter 1) -Creative
-Interactive
-Spontaneous
-Weighing Options
-Suggesting Solutions
Financial Counseling Is Never -A substitute for professional therapy
(Chapter 1) -A formula that fits every member
-Solely an information gathering interview
-An opportunity for the counselor to take control
-An answer to every problem
-A guaranteed solution
Myth- Counselors can provide instant relief. Reality- It will take time to restore balance to members' finances.
(Chapter 1)
Myth- Budgeting means denying Reality- Cutting back may be necessary, and not everything needs sacrificed. A
oneself. (Chapter 1) budget puts the member in control.
Myth- Budgeting requires an accounting background. Reality- Budgeting requires an understanding of where money goes and a
(Chapter 1) determination to match spending to priorities.
Myth- People in financial trouble spend too much. Reality- Natural disasters, chronic medical conditions, divorce and other life events
(Chapter 1) can severely affect a budget.
Myth- Everyone follows counselors' recommendations Reality- Habits are difficult to change, and members may not accept
(Chapter 1) recommendations.
, Myth- The member will be as dedicated to making the Reality- Some members may not be willing to make the same commitment.
plan work as the counselor.
(Chapter 1)
Myth- If a plan fails, it is the member's fault. Reality- Lack of cooperation from family members and events beyond the
(Chapter 1) member's control may make it difficult or event impossible to follow the plan. The
counselor may also not clearly understand the member's real issues or effectively
communicate the solutions.
Myth- If a plan fails, it means the member can Reality- Early failure may be the foundation for later success. The member may be
never succeed. learning how to set a budget and follow a spending plan, while figuring out what
(Chapter 1) approaches will work for the family.
Myth- Counselors can help everyone. Reality- Some members may be in such dire financial straits that standard measures
(Chapter 1) are unlikely to be effective. Others will refuse to follow suggestions or a spending
plan.
Myth- Everyone wants to pay off debt. Reality- Some members are perfectly happy with manageable levels of debt.
(Chapter 1)
4 Program Necessities 1. Confidentiality
(Chapter 2) 2. Understanding
3.Multiple methods and subjects
4. Survey employees
To achieve confidentiality -Hold meetings off site or in private locations.
(Chapter 2) -Omit names when reporting appointments as part of program tracking
-Store records in an area that is inaccessible
-Ask co workers permission before reviewing account records, credit reports, and
other sensitive information.
-Do not consult other departments without obtaining permission
-Conduct as much correspondence as possible by email.
To achieve understanding It can be difficult to discuss money issues. Being compassionate, empathetic,
(Chapter 2) and patient during the meeting will build rapport. Self-worth can be tied to
financial wealth.
To achieve multiple methods and subjects They are at different life stages and have different needs, so be flexible.
(Chapter 2) Self- paced, classroom setting, online approach, etc. Find ways to mix up the
message and the delivery to appeal to different learning styles.
To achieve survey Guage interest in various topics, formally and informally.
results (Chapter 2)
Three Essential Counselor Qualities 1. Good Listener
(Chapter 3) 2. Nonjudgmental
3.Control the interview and other member interactions
Why is being a good listener an essential counselor Good listening skills are required to learn the full extent of a member's situation,
quality? understand behaviors and attitudes toward money, and determine what types of
(Chapter 3) spending plans are workable.
