If you have a fear of money, this article will really help you.

It first explains what this fear of money is and reveals very powerful tips to help you manage or even overcome it.



Lou Holtz, the famous football celebrity and coach, said, “Ability is what you’re capable of doing. Motivation determines what you do. Attitude determines how well you do it.

Words of wisdom that can be applied to everything we do especially when it comes to our financial resources.

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Our attitude towards our money is reflected in our savings, spending, and quest for money.

Would it surprise you to know that Americans, for the most part, demonstrate one of four attitudes as it relates to money?

One attitude is to avoid money completely and thinking that money is evil, and the individual doesn’t deserve to have money.

The second attitude is demonstrated by those who worship money and their problems in life can be answered by simply having more money.

The third attitude towards money is that an individual’s self-worth is reflected in their net worth.

The fourth attitude is that people keep their money matters close to their vest. In other words, these are the miserly that hoard money and don’t spend it.


What Is the Fear of Money or Chrometophobia?

Chrometophobia or Chrematophobia is defined as an unhealthy or abnormal fear of money as it relates to the individual’s interaction with currency and spending of this commodity.

Often, the individual demonstrating this fear of money will experience extreme anxiety and stress when around cash.

Their overwhelming fear is that somehow, they will not utilize their financial resources well. They also wholeheartedly believe that money is evil.

Therefore, being around money and using money makes them, by association, evil as well.

Phobia or Phobos is the Greek word for fear and chrimata is the Greek word for money. Therefore, the combination of the two Greek words is the fear of money.

Also, chroma is the Greek word for color.

Consequently, the fear of money is also known as chrometophobia which suggests the color of money creating an unnatural fear in individuals.

This is because the early day coins were fashioned from brightly colored metals such as gold, bronze, copper, and silver.

Hence the color of money and the associated fear are demonstrated in individuals.

Also See: How to Overcome Worrying about Money even if Living in a Tent.


Why Are We Afraid of Money?

Fear is generally generated in an individual when they feel like they are not in control. It is that old fight or flight syndrome.

Therefore, if an individual is overextended into their financial situation they may feel out of control because there are more bills than the needed money to pay the creditors.

Also, they may have had bad experiences as it relates to financial decisions. Therefore, they are concerned about handling money and falling down into the same trap.

Also, some professionals may say that the fear of money stems from a person’s upbringing and learned behaviors in their home environment.


10 Powerful Tips To Help You Manage or Overcome the Fear of Money


1: Acknowledge

It is difficult to overcome or meet a challenge when that potential issue is not recognized.

As with any challenge, problem, or issue that an individual may have it is important that they acknowledge what is happening in their lives.

Therefore, as it relates to the fear of money, it is important as the first step towards managing one’s fear is to acknowledge that it exists.

Many professionals believe that limiting fears are all part of our mindset based upon our environment and upbringing.

They have identified a limiting belief known as the “scarcity mindset.”

This means that when we are confronted with a lack of something, these limitations leave their imprint on the human subconscious.

Consequently, when there is a lack of something, be it money, food, love, relationships, etc., our subconscious is engaged resulting in the demonstration of fear.

Many professionals and self-help gurus suggest that the individual’s goal when experiencing this scarcity mindset should exchange this belief of limitations with a belief of possibilities.

Therefore, the goal is to replace a fear of having a lack of money with an empowering thought of abundance and infinite possibilities.


2: Identify What’s Causing the Fear of Money

Once the individual has acknowledged that they are under the control of this fear of money, it is important to identify what is causing this fear.

In other words, the symptom is fear but what is the root cause of the dis-ease.

There can be a number of reasons as to why the fear of money incapacitates a person.

Some of those past experiences causing this fear could include learned behaviors from one’s parents, one’s personal beliefs, such as defining success as an accumulation of money, and fear of not meeting that standard, etc.

Also See: How to Get Jobs that Don’t Suck & How to Save $5,000 in a Year.


3: Shed Light

Once the fear of money has been acknowledged and potential root causes of this fear have been identified, it is important to use the power of communication.

It has often been said that there are two things that you never talk about. Those two things are politics and religion.

The rationale for avoiding these two topics of discussion is that they can create potential conflict and anxiety for individuals who engage in these topics.

Perhaps, these two taboo subjects could also include talking about money.

Isn’t it interesting to note that individuals seldom make this a topic of conversation?

Perhaps they are concerned about people knowing how much they make or don’t make, perhaps they were taught that this was not a polite subject, or just simply that it is a private issue and nobody else’s business.

These individuals may be correct, and money does need to be part of the conversation.

For the individual who is struggling with a fear of money, the conversation regarding this subject needs to occur.

Of course, the individual doesn’t approach the first individual that they meet and talk about their challenges swirling around the use of money.

They should go to a trusted confidant, relative, spouse, etc. to talk openly and honestly about the challenges that they face.

Highly recommended is the seeking of professional guidance when it comes to talking about one’s fears.

Not only will the conversation help the individual who is sharing to express these attitudes and concerns about money but will find themselves becoming unburdened and more open to potential solutions.

Additionally, one may even find that the person that they are sharing with shares their same concerns and attitudes towards this commodity.

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There is strength and healing in knowing someone else shares the same issues and that they are not alone.

Also See: Differences of Money Vs PowerDifferences of New Money Vs Old Money.


4: Take Action

At this point, an individual who fears money may be at the point where they need professional guidance and care to navigate their maze of fear.

Professions that can help an individual work through their matters of being fearful include a life coach, a financial coach, a mentor, or a therapist

These individuals are specifically trained to help individuals identify those challenges that make them fearful and afraid.

Through communication and allowing the individual to work through their self-exploration, they can guide those frozen by fears to work through their situation and understand why they respond the way that they do.

These professionals do not make judgments but simply listen and perhaps pose probing questions to further identify the root of the individual’s challenge.

In addition to guiding the individual through the process, together they help formulate a plan of action to take back control and be in charge of their life.

In this case, working towards a healthy outlook as it relates to money and finances.


Fear Of Money


5: Be Kind

Sometimes, we can be our worst enemy and harshest critic. Therefore, an encouraging tip to work through the possibility of fear of money is for the person to be kind to themselves.

It is not a matter of casting blame on something or someone else but simply acknowledging the situation for what it is and knowing that one can rise above any fears that they are experiencing.

In other words, it is important for the person to be their best cheerleader.


6: Create a Budget

A powerful practical tip to start getting a handle on one’s fear or anxiety of money is to create a budget.

By taking this positive step they are putting money in its proper perspective. That perspective is that money is just simply a commodity.

It is merely paper or metal that is used in exchange to purchase various services and needs to maintain one’s life.

By creating a budget, the individual is beginning the process of gaining control over their finances which is often a major contributor to fear. Fear is caused by being in an uncontrolled situation.

By creating a budget, they are figuratively saying to money that they are in control and that they manage the revenue stream as well as expenses that are paid out.

By creating a budget, the person is manifesting literally and figuratively their assertion that they are in control which can help to alleviate fear.

Also See: Reasons for a Budget and Best Budget Planning Tools that Help.


7: Get Credit Counseling

There are many wise individuals and associations that know what others go through. Many who offer credit counseling have been there and done that.

They know the anxiety and fear that money issues can create.

Therefore, they are ready to help others along that same road that they have traveled.

Through what they have learned coupled with their experience and breakthroughs, they can be a mentor to other individuals who are experiencing the same fears and frustrations as it relates to money.


8: Keep a Journal

Another powerful tip is to keep a journal. This journal can be entitled something to the effect of my My Money Journey: Fear to Freedom.

The individual can make entries every day or as often as they want. The idea is to chronicle steps that have been taken, attitudes experienced, and positive strides that are being made.

This will serve as a good discipline to keep the individual on the positive track of overcoming their money fears.

One can also include inspirational quotes or when reading, something that resonates with the individual they can put down the exact quote or paraphrase it.

The idea is to be able to look at their progress, be strengthened, and stay the course on their journey of ridding themselves from money fears.

The journal can also be a reference for the individual if they find that they are slipping back into old patterns or thought processes.

The individual can take out their journal and reread some of the entries that were made. This may be helpful to remember and be inspired by the particular insights that were penned.


9: Education

The best way to combat fear is by being educated.

When we are educated, we gain more of an understanding not only of ourselves but of those circumstances in our lives that create our emotional distress.

Suggestions of reading could include self-help books that address being motivated and inspired.

Also, it is good to educate oneself on financial insight through education to be more empowered and asserting control.

Also See: How to Sell on Redbubble to Make MoneyTips for Stretching Money.


10: Make a Donation

Control is a marvelous way to dispel fears. Therefore, to display one’s control over money and situation, one should consider making a charitable contribution.

This will help to refocus attention off of oneself and the reality that they have money and place that focus on the needs of others who may not have the financial resources.

By making a donation to a worthy cause, the person is also saying to themselves that they control the purse and decide where the money goes and what is done with it.

That again is demonstrating control which will help to dispel any fear that the individual is experiencing as it relates to money.


Personal Story

While serving in the United States Navy, I came to fully realize and appreciate the power of discipline.

On one occasion one of the crewmembers was given the unenviable task of cleaning the head or the bathroom aboard the ship.

Part of my duty was to provide oversight to make sure that he carried follow-through on the task that he was given as part of his punishment.

I remember going into the area that he was cleaning to find out what and how he was doing.

In a lackadaisical manner, he was doing a bit of scrubbing and I told him to work a little bit harder.

To which he replied, “They can make me work but they can’t make me work hard.”

He needed an attitude adjustment.



It’s easy to say to an individual that there’s nothing to worry about or fear when it comes to money. That may be easy for them to say.

However, the fear of money is a real concern for some individuals.

To work through the intricate web of the fear of money it is important for the individual to utilize all of the resources that are made available to them.

The bottom line is that money does not control us, but we control money.

For the individual who has a fear of money, it’s time to take charge of cash. An attitude adjustment is needed.

Again, this company has paid $25+ million to members:

SurveyJunkie (only USA, Canada, Australia residents allowed). You can earn money sharing your thoughts. They have already paid $25+ million to their 20+ million members just for sharing their thoughts and opinions. Click here to join SurveyJunkie for FREE

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Apart from being a seasoned Personal Finance expert who has written for top publications around the world, I bring significant personal financial experience. Long story short... through bad financial choices... I found myself $100,000 plus in debt. I was able to dissolve this indebtedness and regain financial solvency. This financial turn around was accomplished through reading, studying and implementing a financial plan. My financial plan included paying down my debt through budgeting, being cognizant of where my financial resources were being spent, changing my attitude about money and understanding the binding chains of the improper use of credit. Today, and for 10 years, I have been debt free and have invested wisely to enjoy my current retirement. This is allowing me to write to help others make, save and grow money wisely!