Money Troubles? Try Rehab

For Judd, therapy meant getting rid of her credit cards in favor of using cash.

"I think one of the first things I did was cut up my credit cards," Judd said. "But I carry an envelope that has cash in it. When I go to Target or somewhere and I plop that down, people look at me like, 'Wow. '"

The idea is to help Judd spend less money.

"Because one of the things we know is if you have credit cards you'll spend 30 percent more than if you don't have a credit card," Klontz said.

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And while people like Judd battle excessive spending, others, like Warren Brent, have the exact opposite issue.

Brent hoarded money and had a problem with underspending.

"I think misery around money. Low self esteem, somehow buying into the notion that we're supposed to struggle in life," he said.

The Source of Money Woes

Klontz's patients represent just a small portion of consumers plagued by money issues. An American Psychological Association surveyed 2,500 adults recently and found 75 percent said money was the No.1 source of stress in their lives. Those numbers are more staggering when you realize the statistics came before Wall Street's historic meltdown.

"When men — especially, money issues, failures around money are the number one cause of male spousal suicide," Klontz said. "Our self worth is our net worth in our culture. That's not true in other cultures, it is in ours."

Judd said the counseling saved her life.

"I was on my way to ending up like a lot of artists on a bus to hell," Judd said. "I think Ted was the first one who said to me, 'You don't have to keep living in poverty like this. It's ok to have a relationship with your money and here's how.'"

"I still have a long way to go, what is that line, I may not be exactly where I want to be, but I'm sure as heck not where I was," Judd added.

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