Millions of people around the world struggle with anxiety and fear when it comes to their finances.
This fear can manifest itself in many different ways, like overspending, refusing to open bills, or panicking at the sight of your bank account balance. It can cause a lot of stress and can even lead to depression.
Are you afraid of not having enough money? Are you afraid of losing what money you have? Are you afraid of not being able to provide for yourself or your family?
These are all valid fears. But dealing with them can be difficult and sometimes overwhelming.
If you’re struggling to deal with your financial stress, there are some things you can do to overcome it.
This article will provide you with some of the best ways to deal with fears around money and how to conquer them for good.
Why should you try to overcome your fear of finances?
There are many reasons why you might want to try to overcome your fear of finances.
For one, money is a big part of our lives. It’s something that we have to deal with on a daily basis, whether we like it or not.
Secondly, fear can be very debilitating. It can hold us back from achieving our goals and living the life we want to live.
Lastly, dealing with your fear of finances can be empowering. It can help you take control of your life and feel more confident and capable.
Identify your fear
The first step to overcoming your fear is acknowledging that you have a fear in the first place.
This may seem like an obvious solution, but oftentimes people try to ignore their fear or act like it doesn’t exist.
If you can’t acknowledge that you have a fear, you can’t begin to deal with it. Acknowledging your fear is the first step to taking control of your finances.
Some ways to do this are by identifying your fear, writing it down, and talking to someone about it.
Identify your fear
This fear can manifest itself in many different ways.
For example, you may be afraid of not having enough money, of losing money, of not being able to save money, or of never being able to retire.
These are all valid fears that can hold you back from taking control of your finances.
Writing it down
Once you’ve identified your fear, the next step is to write it down.
This can help you to better understand your fear and what’s causing it.
Writing it down will also help you to see your fear in a different light.
Sometimes, seeing your fear in black and white can help you to realize that it’s not as big or as bad as you thought it was.
Talking to someone about it
If you’re still struggling to overcome your fear, talking to someone about it can be a big help.
This can be a friend, family member, financial advisor, or therapist.
Talking to someone about your fear can help you to understand it better and can also give you some great tips on how to overcome it.
Once you’ve acknowledged your fear, you can begin to understand what’s causing it.
Understand your fear
There are many different things that can cause a fear of finances. After all, money is a very emotional topic and it can be scary to think about not having enough money or losing what you already have.
If you’ve always avoided dealing with your finances, it can be very hard to break that habit. It can also be tough to know when this fear started or what’s causing it.
Some common reasons for a fear of money are:
A bad experience with money in the pastFear of not having enough moneyFear of losing moneyFear of not being able to save moneyFear of never being able to retireFear of never being able to payoff debtA general fear of numbers or math
These are all valid reasons for having a fear of finances.
The important thing is to understand what’s causing your fear. By understanding the root of your fear, you can begin to deal with it at the source.
Once you understand what’s causing your fear, you can begin to take steps to overcome it.
Take action to face your fear
The best way to overcome a fear is to face it head on.
At this point in the process, you should have a good understanding of your fear and what’s causing it.
Now, it’s time to take action. This may seem like a scary prospect, but it’s the best way to deal with your fear.
Some examples of how to face your fear of money are:
Create a budget and stick to itStart tracking your net worthStart an emergency fundCreate a retirement planStart putting money towards paying off your debtStart an investment accountMake it a habit to check your bank account or expenses every month
These are all great steps to take to face your fear of money. But it the best options for you will depend on your specific fear and situation.
The important thing is to start a productive habit in the right direction.
Remember, the goal is to take small steps at first. You don’t have to do all of these things at once. Just pick one or two and start working on them.
Summary
If you’re struggling with a fear of money, know that you’re not alone. Many people have this fear and it can be tough to overcome. It can also stunt your financial growth and keep you from reaching your financial goals.
I’ve found that fears surrounding money typically stem from an anxiety about the future or bad experience in the past. Whatever the reason for your fear, the best way to deal with it is to face it head on.
Start by acknowledging your fear and understanding what’s causing it. Then, take action to actively address it. This may seem difficult at first, but it’s the best way to make real progress with your finances.
By following these steps, you can begin to take control of your fear and start dealing with your finances in a healthy way. Just remember to go at your own pace and to take small steps at first. Over time, you’ll be able to overcome your fear of money for good.
Stephen Rozo is the founder of MoneyPeoples.com, a blog about how to start a profitable rental property. He knows firsthand the challenges and rewards that come with owning a rental property and now dedicates his time to providing tips to new real estate investors. His goal is to give readers the best information on how to grow their monthly income with real estate.
The post How To Overcome a Fear of Dealing with Money appeared first on Pick the Brain | Motivation and Self Improvement.
