The fear of money many be hard for some people to understand, but it does occur regularly. When money is the source of persistent anxieties and fears, the sufferer may have Chrometophobia.
Reasons For Chrometophobia
In tough economic time like these, many people may find this phobia laughable. However, the fear of money is more complicated than it seems. It can be connected to the pressures of managing money, which, in light of the recession, is more difficult than ever.
People who have little money may also be prone to Chrometophobia. They will feel anxious when they think about how little money they have. Money will be an unwelcome focus in their lives, and the tension they feel regarding cold, hard cash can affect their daily lives.
There are several triggers for this fear. Let’s take a look at some common examples:
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More Money, More Problems?
Sometimes, having money brings new pressures…while most would prefer to be in this financial position, some people feel the strain of trying to manage healthy sums of money.
Once more money comes into play, people must consider investments, taxes, and everything that goes along with money management. People with Chrometophobia may feel that they are not skilled enough to manage their money well, and fear losing it through bad investments.
Having Very Little Money Is Stressful…For Anyone
Those who struggle financially can be subject to terrible stress. Depression, substance abuse…suicidal ideation…all can stem from the rigors of being poor. People who have no money, and no foreseeable way to improve their station in life will obviously become conscious of every single dollar they have. Being poor is grindingly difficult – when there are children to support, it can be soul-destroying.
Today’s shoppers and investors fear being poor, too. Retail statistics have proven that people are very cautious about spending. They are afraid to part with their money. Worries about unemployment through layoffs and downsizing – are on almost everyone’s mind. Many Americans are suffering from the ill effects of the economic downturn. This fixation on money is very practical – the recession has decimated housing prices, stalled new housing starts, and sent many corporations spiralling downwards.
Thinking constantly about money and how it affects your life can be the first domino to fall, with regard to this phobia. Too much thought about any one thing can be a red flag that it is a potential phobia or obsession.
How To Cope
Learning to break free of the fear of money may require some hard work and education. Taking classes that teach you how to put together practical budgets that really work will help you gain control over your fears. If you hate the feel, smell, or look of bills, you should consider panic treatment or therapy to deal with your aversions.
The symptoms of phobias are often the same as those experienced in a panic attack. Dizziness, sweating, numbness, confusion…all these can leave the sufferer paralyzed with fear and desperate for help. Easing panic may require some form of cognitive therapy that retrains the brain to view money fears differently. With a little time and effort, you can soothe the worst symptoms and move forward.
The fear of money is also referred to as:
- money fear
- money phobia
- afraid of money