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10 Signs of Money Phobia

by Evelyn on July 14, 2014

“Fear makes the wolf bigger than he is.” German Proverb

feed the wolf fear

Do you have money phobia, and hence prefer to avoid any talk on finance or money management altogether? Studies indicate that women, especially, display avoidance behavior.

With a phobia, the fear is excessive. For instance, you can have a fear of killer sharks. However, your fear can be so great that it manifests as a phobia, should you avoid swimming altogether.

Money phobic women tend to have confused ideas about finance. They prefer to leave all the money talk to their spouse or partner. They are likely to react in ways that do not best serve their financial well-being. They may also show up with erratic behaviour; such as going through periods of raking up huge credit card bills and then periods whereby they hoard excessively. The erratic behaviour probably stems from having little awareness of how much they have in the bank and an inability to manage their emotions tied to finance.

The medical term for the fear of money is Chrometophobia. Symptoms can vary from person to person. In a phobia, you may experience the following symptoms: shortness of breath, nausea, stomach churning, irregular heartbeat and shaking. However, for most people, the signs are more subtle.

10 Signs of Money Phobia

Not sure if you have money phobia signs? Here are 10 signs to look out for:

1. Avoid situations whereby money is tied as an issue.

2. Actively divert any serious talk about money and finances to shoes and shopping.

3. View any mention of large sums of money as unreal.

4. Find taking any form of financial planning or action a bore.

5. Experience anxiety whenever your credit card statement arrives.

6. Glazing your eyes over the finance section of the newspaper or even any legal agreement that involves money and financial liabilities.

7. Do not keep a close watch on spending.

8. Do not know exactly how much you earn.

9. Leaves your spouse or partner to handle every financial aspect that affects you and turning a blind eye.

10. Do not have a clear financial vision.

Consequences of Money Phobia

Continued avoidance of financial matters can have negative consequences. For one, it is possible to be challenged by a dramatic life event that forces you to take responsibility. This can happen in a divorce, death, loss of a job and so on.

Let’s take divorce. A few friends I know floundered in confusion after their marriages collapsed. Prior to the relationship breakdown, they had trusted their spouses to be take care of all financial matters for the family. However, after the collapse in the marriage, they had to learn money management – especially if there are kids involved – and understand all legal financial implications. They realised that avoidance is the worst thing to do, in this situation. In the process, they also managed to unearth secrets about money amounts that were siphoned away by the other party. A sure wake up call!

Even if nothing dramatic happens, I still believe that it is to your benefit to be able to see money clearly for what it is and represents – rather than avoid it altogether. There is nothing to lose. In fact, there is everything to gain.

Face Your Fears

The better way forward is to face your fears. Understand that fears are not real. As it is often metaphorically alluded, refrain from making the “wolf” bigger than what it truly is.

Ask yourself what is your phobia about. Did your fear come from a childhood event or belief? Need help to shift your fears? Contact me.

Making yourself blind to money matters is not helpful. Don’t wait for a catastrophic event to happen before taking the time to get yourself updated and educated. Get started right away. Learning money management does not have to sound like a mammoth task either. Chunk it down and take one step at a time.

Love and Abundance Always,

evelyn lim signature

Abundance Alchemy Coach | Work With Me to Align with Abundance

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10 Signs of Money Phobia ⋆ Inspiring Dose
October 31, 2014 at 11:38 pm

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Cathy Taughinbaugh July 15, 2014 at 2:04 am

Great points here, Evelyn. Money issues, if you are not number oriented, can seem overwhelming. I feel that your point about divorce is so important, or also if a women becomes a widow. Knowing the ins and outs of your own personal money situation is beneficial. I’m not a numbers person, but I’ve trained myself to look closely at my finances and to not be afraid of them. Thanks!

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