HONOLULU (KHON2) -- As the holiday season wraps up, many people are left with the weight of their spending hanging over them. From holiday gifts to special meals and travel, it's easy for finances to spiral out of control. Get Hawaii's latest morning news delivered to your inbox, sign up for News 2 You So, KHON2.com caught up with Kevin Morisoli who is a local wealth management advisor with Northwestern Mutual. He said he's seen firsthand the toll this financial burden can take. "Holiday spending often results in a sharp rise in debt, and the new year brings a sense of urgency to get back on track," Morisoli said. "This is where financial therapy comes in." Financial therapy, though a relatively new concept, is crucial in helping people address the emotional and psychological impacts of managing money. It combines elements of traditional financial advising with a therapeutic approach to address personal finance challenges. Morisoli described it as "a safe space where clients can be vulnerable about their finances, understanding that it's not about being perfect, but about progress." "When people come to me, they often feel overwhelmed," Morisoli said. "They’ve racked up credit card debt, taken out loans, or simply haven’t been able to save the way they thought they would. There’s a lot of shame surrounding money, but what they need to hear is that they are not alone." Indeed, the emotional side of money management is often overlooked. "It's easy to talk about mental health issues, but finances are a whole different ballgame," Morisoli explained. "The vulnerability people feel around money is profound, and many are afraid of being judged. But the reality is, I've been there too. I’ve made mistakes with money, just like anyone else. And my job is to help them figure out a way forward." The idea that financial planning isn’t just about numbers but also about emotions has gained traction in recent years. Financial therapy helps clients move past feelings of guilt and shame and creates an environment where clients can make decisions without fear of judgment, something Morisoli sees as key to getting back on track. "It’s not about having it all figured out. It’s about meeting clients where they are and taking those first steps together," he said. In Morisoli’s practice, financial therapy is about understanding the emotional aspects of money and the barriers that keep people from managing it well. "I like to remind people that it's not about perfection," he said. "We don’t expect everything to go smoothly, and that’s okay. Life happens, and we adjust along the way. Whether it's a job change, an unexpected expense, or something else, we work through it together. We course correct as needed." For many, the first step is acknowledging their financial struggles which is something Morisoli says can be incredibly difficult. "People don’t want to open up about their finances. It’s one of the most taboo topics in our society," he said. "But once they do, we can start to make progress. I’ve seen clients take that first step and feel a huge weight lift off their shoulders." The idea of financial therapy is particularly relevant after the holidays when many are faced with the consequences of overspending. "It's important to acknowledge that holiday spending isn’t just about what you bought. It’s also about the feelings attached to it," Morisoli said. "The guilt, the worry about how to pay it off, the stress about how it will affect the year ahead. Financial therapy helps people navigate those feelings." One of the most significant benefits of financial therapy, according to Morisoli, is its focus on continuous support. "We don’t just meet once and forget about it. Our relationship is ongoing," he explained. "We stay in touch multiple times a year because life changes quickly. People can face unexpected events at any time, and we want to be there to help adjust course when needed." As the new year begins, Morisoli is encouraging people to take a step back and reassess their financial goals. "This is a great time to reset and think about where you want to be financially at the end of the year," he said. "It’s not about having everything figured out right away. It's about making small, manageable changes and sticking with them." For anyone feeling overwhelmed by debt or financial stress, Morisoli offers one important piece of advice: "You don’t have to do this alone. Financial therapy is all about building a partnership, where we work together to find a path forward. The most important thing is to start—and to remember that progress is what matters, not perfection." By being open about their struggles and working with a financial therapist, people can start the new year on the right foot, feeling empowered to tackle their finances without shame or fear. You can click here to learn more about Kevin Morisoli. Get news on the go with KHON 2GO, KHON's morning podcast, every morning at 8 Morisoli’s message is clear: "It’s not about being perfect. It's about getting better, one step at a time."