How not to be afraid of money and become successful
How not to be afraid of money in the 21st century? When two-thirds of people have fears related to money. At the same time, they also do not take the necessary steps to overcome the fear of money, allowing panic to rule the financial situation.
Everyone can overcome the fear of money, for this it is worth arming yourself with appropriate methods. Getting more money and active work are not on the list because a lot of money hides fears or makes those fears bigger.
In conversations about money, an element of taboo often prevails. In some families or social circles, it is considered impolite to discuss financial factors. However, if a person does not have a fear of money, then conversations are less inconvenient.
Money is a vital necessity. However, it is extremely difficult for a person who has a fear of money to interact with finances. The phobia naturally affects a person’s daily life, as it becomes difficult to go shopping or work. Some fear only the power of money, others may fear financial failure or the responsibility that money brings.
How not to be afraid of money – Signs of fear of money
Often the fear of money is inherent in middle-income people. To answer the question of how you can not be afraid of money, you first need to diagnose this phobia. If a person finds that they are worried about the following:
- Can a person afford to buy food and necessary things;
- What will be the utility bill;
- Enough savings in case of job loss.
Often, the following symptoms also appear:
- Extreme indecision to think about money
For most people, the problem comes down to an unwillingness to fight unhealthy habits, spend or save. Perhaps this means that a person is too reluctant to spend money even on items that are needed, because there is a fear that they will run out. Or a person feels powerless in managing finances.
- Getting out of your usual routine
If a person is in fear of money, then he may avoid activities that are predominantly pleasant.
- Desire to keep counting money
It’s okay to check your finances and bank account regularly. Some people check them every day. However, if a person constantly enters the bank or counts cash in the wallet several times a day, while experiencing stress, this means there is a specific problem.
- Depressive thoughts or physical ailments
The fear of any parting with money, like other phobias, can also bring with it strong feelings of hopelessness, anxiety and depression. If a person feels severe anxiety caused by the financial situation, it is worth contacting a mental health professional.
In some cases, physical symptoms are also experienced, such as trembling, sweating, dry mouth, nausea, or shortness of breath. If this is the case, then the person also needs the help of a professional.
How can you not be afraid of money – Causes of fear
Social institutions make you believe that money is bad, so people with money also become bad. Religions say that poverty is godliness. There is an idea that in order to fulfill dreams, one should be a "hungry artist" who sacrifices financial fortune for the joy of work. Also, the often justified contempt for capitalism and the idea that every successful person is also corrupt.
As with other phobias, the fear of money can also stem from negative experiences that money often brings. Where there is money, there is greed, and this concept has been ingrained in people since childhood in the form of fairy tales and stories about villains who harm good characters in order to gain material gain.
Research shows that attitudes towards more successful employees are negative. Colleagues are quick to point out the flaws of those who are slightly wealthier, which creates a negative subconscious association. People criticize most severely those who are only one step higher in status, more than those who are significantly more successful. But people also begin to criticize themselves when they achieve greater success.
There is a lot of advice on how to deal with failure, but not much on how to deal with success.
Fear of loss. Fear that limits people in creating wealth. It is safer to keep your money in a bank savings account than to invest. Many are afraid of the stock market or other investments and therefore are content with simple savings. Unfortunately, the purchasing power of money decreases over time due to inflation. Or, having gained the courage to invest, the market falls. This fear of big losses causes people to sell down stocks and then miss out on the recovery.
Social HCS. Social fear of missing out can lead a person to prefer social opportunities over personal or career advancement. Frequent social events, expensive purchases. This problem involves spending that does not correspond to social status. Again, it’s not about deprivation. This is necessary in order to understand whether a person is doing something because he really likes it, or because of the fear of missing out on something important.
Imposter Syndrome. Fear of not fitting in with school, social class, or job role can limit personal and professional growth. In this problem, a person may miss vital opportunities for development and communication. It is impossible to try to get a job for which, in your personal opinion, a person is not suitable. However, someone less qualified suddenly shows up and gets the job. It can also lead to overconsumption. PFS can often be caused by impostor syndrome. Suddenly, a person buys a luxury car or expensive clothes to prove belonging.
Fear can protect a person from catastrophic physical inconvenience. It can also be useful in money situations.
Use as a warning sign. Fear is a valuable warning sign. It is the mind that tells the person to stop and pay attention to the problem. It helps to analyze what is the source of fear. Whether it is based on reality or on the environment.
The same can be said about the fear of change. If a person sees an opportunity, the fear of change causes an important pause. This pause helps to evaluate why there is a feeling of fear. This can provide significant insight and the time it takes to realize that another option might be better, or to be convinced of the right decision. Accepting this fear can be a preventive solution, but you can’t give the phobia complete control.
risk tolerance. Deciding how much risk suits a person becomes a significant part of the financial plan. You need to use fear to determine how comfortable you really are with taking risks. This will help adjust the asset allocation accordingly.
Plan for points of failure. If failure is likely or too costly, then it is an unwise choice. This type of planning both increases the chances of success and helps overcome the fear of failure.
How to stop being afraid and start earning: steps towards change
Here we will talk about ways to get rid of the fear of earnings. By following these steps, you will very quickly get rid of all the restrictions that prevent your financial independence.
We advise you to write them down separately to keep somewhere with you.
1 Definition of finance
Knowing how much money a person has and how much he owes, gives a specific point in determining the financial condition. For some people, this point is enough – it is easy to imagine that everything is much worse than it really is when a person does not know the real situation. Knowledge is the best defense. The more people are aware of the state of finances, the less they need to be afraid of it. The trick is to incorporate healthy money habits into your daily life and compare your options before making a financial decision.
2 Recognizing the fear of parting with money and the scarcity mentality
Before people with phobias change their behavior patterns, the fear must first be recognized and accepted. People often resist moments they don’t want to accept, which keeps consciousness in place. The first step to solving a problem is acceptance. To accept fear means to calm down and take responsibility for it. Often, instead of accepting the problem, people expend more energy fighting it than would be necessary to solve it.
The scarcity mentality is a serious problem in society and most people have it at various levels. The scarcity mentality refers to people who view life as the ultimate pie, so that if one person takes the most, it leaves other people with less. Most people, predominantly in the corporate world, are used to a scarcity mentality.
3 Research on fear
You should start by asking what this or that fear is connected with. In awareness comes the correct answers known only to man, which gives the power to observe financial fears from a neutral point of view.
4 How not to be afraid of money – Making a list
In order to assess the fears of money more carefully, a person is forced to constantly monitor thoughts, dreams, inspirations, goals and obstacles, as they relate to money.
By monitoring these variables on a regular basis, there is a tool to help you identify the triggers that hinder financial progress and learn how to correct course. Research shows that making a list makes it much easier to achieve goals.
It is worth focusing on one element so as not to be overloaded. If you feel a lack of savings, you need to decide the specific amount that you want to achieve.
5 Sharing fears with loved ones
Talking to a trusted partner and putting your feelings into words helps people greatly reduce the negative energy that surrounds money. Many people are afraid to share their fears with other people, but this becomes a necessary point in solving many problems related to money. By sharing fears with loved ones, it becomes possible to release the burden. However, it is important to remember that the constant venting of problems on loved ones can have a deplorable effect on their condition, so it is important to strike a balance.
Forgiveness is the path to peace of mind. By holding a grudge against those who have caused financial inconvenience, a person runs the risk of causing suffering to others. The ability to forgive will help get rid of financial fears. This will not solve all problems, but life will become richer and more joyful with the regular practice of forgiveness. Such an item includes not only material gifts that make you return to the feelings of the phobia, but also the natural pronunciation of positive qualities and deeds that have been committed. When trying to get rid of a phobia, you should not be afraid to overdo it, it’s worth starting to praise personal merits, starting with any little things that were not previously given much importance.
7 Showing gratitude
A great way to dive into your relationship with money in terms of gratitude is to change your relationship with finances, to be grateful for the opportunities. To be grateful for the state of the present moment, it is useful to remember the difficult times that were once experienced. Life is progress, there is a point in time where it was really hard. Although it is difficult to dive into such memories, do not forget about it.
8 Show compassion
Negative self-talk generates an awareness of fear, which leads to depression. Self-compassion is what can create a sense of comfort. What is considered to be selfishness often actually becomes a concern. In all manifestations of positive change, you should start with yourself, this will help later show compassion for others.
Charity is something that many people include in their plan to get rid of the fear of money. It may seem counterintuitive to give money. But donating or supporting a cause brings happiness and a sense of purpose in helping others. It also helps to be more mindful and grateful for the money you earn.
9 Emotional freedom
The world has developed a considerable number of practices that are successfully used by people around the world to overcome problems such as fear, phobias, post-traumatic stress disorders and chronic pain. Solitude and the definition of a favorite activity helps to get rid of negative emotions in order to concentrate more on the question of how to stop being afraid and start earning. It is also useful for overcoming obstacles that prevent the achievement of any other goals. For this, it is not necessary to turn to professionals and coaches. To begin with, it is worth making every possible attempt to cope with such problems on your own.
10 How Not to Be Afraid of Money – Giving Value to Other Factors
When people remain trapped in fear, it is difficult to appreciate the positive things that are present in life. One thing that is forgotten to be acknowledged is the value of time. Time is the same for every person. Everyone has 24 hours in a day, so in this respect everyone is equal before time. When a person appreciates time for its enormous, absolute value, fears cease to have an impact.
11 Thinking through the cost component
Everyone knows that money is limited and should be used wisely. It is when a person takes this idea to an extreme that a phobia can manifest. To counter this fear, it is worth planning all expenses. Track how much money goes into each expense and create savings.
12 Organizing auto payments
Switching accounts to autopay means people skip the process of opening accounts, signing in to an account, and making monthly payments—a big source of worry for many people. If you have a loan, you can get a discount on the interest rate only for subscribing to auto payment. This can clear the mental space you need to focus on more important things like budgeting, savings, and financial planning.
Most companies send an email notification before a payment is made and after it has been processed. However, it’s a good idea to log into your bank account or app at least once a month to make sure payments are being processed correctly.
13 Budget planning
Making a plan for how to spend money every month can be reassuring when you’re afraid of overspending. This makes it easier to check for over budget.
An easy way to do this is to use a budgeting app. Programs connect to bank accounts, credit cards, and other creditor accounts to look at expenses and suggest where to cut them. This greatly simplifies the process when you don’t have time to regularly check multiple accounts.
14 Living in the present moment
Living in this moment in time means being in touch with inner awareness. But this awareness is often called internal organization.
Thoughts come and go, emotions also come and go. That allows thoughts and emotions to be in harmony, without being distracted by problematic moments. Because life in the present helps to distract from worrying factors and concentrate on promotion, which will also help to overcome financial problems.
15 Releasing Deep-rooted Beliefs
Some grew up in an environment where there were frequent fights and arguments about money. In childhood, various anxiety states may arise.
The fact is that experiences in childhood can leave a concrete impression that continues into life. Separating yourself from these early impressions can be a difficult and painful process.
16 How not to be afraid of money – Setting long-term financial goals
Once a person starts paying off debt and building up savings, having a long-term goal can help keep these habits going. It is worth thinking about how you want to see the future in the next few decades. Own house, retirement savings. Are there any other specific personal goals that financial planning can help achieve. It is very important. Because it directly affects the subsequent success.
It is also worth finding out how much it costs to save up for these purposes, and set aside money from each salary to a separate account. Because saving up front will help you avoid unnecessary debt and be cheaper in the long run.
17 Comparisons of options for borrowing money
In few cases, people may need a loan. Because such moments include buying a house, investing in education or even starting a business.
To find the right loan or mortgage offer, you should compare all available options by looking at rates and conditions, requirements, and factors such as customer reviews. Getting the right loan deal can initially ease management and ensure you don’t spend more than necessary. Many people are afraid of loans, but this becomes a certain safety cushion, which can also be considered as an item to get rid of fears. Getting a loan does not always mean no money, it gives you the advantage of not saving money, which tends to fall in value.
18 Organize time for comfort zone to readjust
Spending most of your life on a strict budget, managing debt amounts and living paycheck to paycheck, it will take time to get used to the fact that life is changing.
Most people strive not for the absolute, but for personal comfort. But they subconsciously want to replicate familiar relationship patterns or lifestyles that they are more accustomed to.
To cope with fear, a person must learn as much as possible about money, because knowing about it can help erase phobias and prevent them from controlling life.
Professionals in the field of financial psychology, along with personal work on the internal state, offer solutions to such difficulties that should not be neglected. All of these treatments help get to the root to overcome the problem.