Overcoming the Fear of Finance

BY Reeta Wolfsohn, CMSW ON January 26, 2012 IN Articles

Today more and more people find it more and more difficult to figure out how and where to begin to take control of
their money and to create a better financial future. There are no simple or easy “fixes” to this complex set of issues, but there are definitely many small steps to help to simplify it.

Taking specific and strategic financial action is where most financial experts would likely recommend you begin. Unfortunately, that’s the wrong place to start for numerous reasons but mostly because the choice to improve your financial future is much more about making the choice to heal your relationship with you money; this requires expanded self-awareness in order to contribute to improved financial circumstances.

So how should you begin to overcome your fear of finance?

Begin by recognizing, acknowledging and accepting that you are worthy and deserving of a better financial future. The more connected you are to how worthy and deserving you are the more likely you are to put in the time and effort required to build a financial future which reduces your financial fears.

If you fear your finances you probably avoid dealing with them – behavior that never produces positive outcomes. Regardless of whether you avoid addressing your money problems because you feel undeserving or guilty about wanting things for yourself or unable to overcome the fear of poverty or to do anything right when it comes to money, doing so inevitably exacerbates them. If you feel you don’t have enough money for it to make a difference; unable to give up the fantasy of having someone else take care of you or because you’ve been conditioned to you only reinforce the behavior that created your current financial circumstances.

Much of this behavior is learned behavior dating back to childhood money lessons. Early financial experiences provide the foundation for adult thoughts, feelings and attitudes about money.

Your relationship and behavior with your money today reflects whether you grew up in a family where money was or wasn’t discussed; where money was or wasn’t a problem; where the struggle to make ends meet was or wasn’t a constant; where you felt safe and protected financially, or lived in fear of there not being enough money for food and rent.

However, as an adult your financial circumstances are the result of the choices you make each day. When you stand in front of a mirror; the person reflected back is the product of a lifetime of choices many of which may not have been considered specifically financial even though they were essentially money driven.