How to Overcome the Fear of Money

“There is only one class in the community that thinks more about money than the rich, and that is the poor.” – Oscar Wilde

fear of money

You would think that most people would love to have lots of money. However, there are also those who fear money or having too much of it. Maybe it is the reminder about King Midas that puts these people in fear. His wish that everything he touched be turned to gold was fulfilled. However, he later found, to his dismay, that even his delicious food and beloved daughter were transformed into gold.

The fear of money in its extreme is known as chrometophobia or chrematophobia, from the Greek “chrimata” (money) and “phobos” (fear). The “chrome” in “chrometophobia” may also be related to the Greek word “chroma” (color) because of the brilliant colors of ancient coins — for example, gold, silver, bronze and copper.

I recall a series of dreams I once had. For a few nights, I would wake up trembling in sweat. I dreamed of being chased by loads of giant cash notes, which had legs on them. I feared for my life. And night after night, it was the same dream. It happened when I was below 12 years old and had no money concerns back then.

Fear of Asking For Money

The fear of money stems from poverty consciousness. It manifests in various ways. For example, you are unwilling to ask for an appropriate exchange for your products or services. You fear asking for what you are worth. You may have offered your stuff for free for a period but it seems that you will never get round to charging for a fee.

The fear of asking for money can create lots of emotional disruption. It puts you up in arms. You break out in a sweat. You experience anxiety. You have a lot of excuses why you should not strive harder or why it is not the time. At the same time, you also blame the economy, your parents, your boss and everyone else for causing you to be stuck. You have been finding life a struggle and experience difficulties getting by.

Recently someone (let’s call him Mr X) wrote to me and asked me why I am charging for my healing services. His opinion was that I should be offering my soul gifts for free. Luckily, I knew better than to react negatively.

Perhaps what Mr X has overlooked is that the services I offer are usually personalized. Don’t forget that doctors, who are doing healing work, also charge consultation fees too. Few people would quibble over paying doctors a reasonable amount for healing work done. We may even be willing to pay specialist doctors, such as surgeons, a premium for their expertise.

Money is a universal medium of exchange, and so it is best used as the form for compensation in lieu of time spent. As Benjamin Franklin says, time is money. Hence, I don’t buy find charging for energy work a “sin” (a warning put forward by Mr X).

Abundance is a circuit of energy flow. As you give, you shall receive. And as you receive, you give. Tapping into the stream of giving and receiving aligns you with abundance consciousness. You need to honor the exchange meaningfully. Otherwise it becomes distorted or unbalanced.

Fear of Having More Money

By assuming that money is the root of all evils, you will fear having more. Hence it is important to look into the money belief that you are holding. Is money the root of all evils or is it the attachment to the money that is causing the suffering?

If you should have fears concerning money, then you will need to ask yourself what is your story about money. Has something in the past caused you to experience certain trauma? Why are you perceiving or believing in lack?

If you fear having more, could it be that your actual fear is about not being able to handle the excess? People with Chrometophobia perceive heavy responsibilities that come with having more money. Money management includes making decisions on investments, taxes, making an estate, audit and so on. The thought of having to manage money creates unwelcome stress.

Fear of Having Not Enough Money

Then there is also the fear of not having enough money. As we already know, the fear of not having enough money can lead to frustration, depression and suicide. It can cause anyone to lose hope in the face of overwhelming fear that a financial turnaround will not happen.

The fear of not having enough to get by or to be unable to afford a certain standard of living can cause unnecessary worry. You are constantly in foul mood. Your ability to make a wise decision may also diminish because there is a tendency to act out of high levels of anxiety.

While it is understandable why anyone can get anxious in a time like recession, obsessing over and predicting a picture of doom and gloom does not help. Adopting a more positive attitude, on the other hand, does. Find out ways to eliminate stress and focus on the current blessings.

Suggestions to Overcome the Fear of Money

1. Raise Your Self Esteem. Healthy self-esteem rests on the belief that “I am deserving and worthy”. And so you experience no shame or feeling of embarrassment to ask for what you deserve. You are confident that your products and services are valuable.

Work on your solar plexus, the third chakra, for self-esteem issues. When you raise your self-esteem, you will find that the ability to attract money improves. You are happier overall because life is less of a struggle.

2. Take One Step At A Time. If asking for money in exchange of your products or services sends you into a panic, what may help is to do things in small steps. You may offer your stuff for free for a period, and then gradually work your way into accepting some payment. For friends, you may choose to ask for a meal or a token in exchange.

3. Work on Your Money Beliefs.
Examine the beliefs that you have about money. You may begin to realize that you have been holding on to a collection of myths. The myths do not serve you. Holding on them limits your capacity to reach your highest potential. Consider rewriting your money story and backing it with more empowering beliefs. Alternatively, uncover the real power behind the classic ebook “Think and Grow Rich” by Napoleon Hill here.

Always remember that money can be put to good use. Having excess money can be an asset. You can channel it to charitable organizations and foundations for the needy. You have the power to decide on how best to use the money.

4. Learn Money Management. If you have fears about managing money, it is time to get educated. Consult professionals. Read up books. Call on your banker. Hire a mentor.

It sounds like an awful lot to learn at the start. But once you begin, things should get easier over time. Money management is not as difficult as it seems 🙂

Love and Abundance Always,
evelyn lim signature
Author. Adventurer. Life Coach. More About Me.

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Do you have a fear of money? What symptoms or behavior do you have? What has worked for you with overcoming your fear.

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