This is a real thing. Turbo.intuit.com shares that Chrometophobia is the extreme fear of money. Also known as chrematophobia, it encompasses everything from the fear of spending money and the fear of thinking about money, to even the fear of touching money.
It combines the Greek word chermato, which means “money,” and the Greek word phobos, which means “fear.”
Most of us have struggled with financial stress at some point in our lives. A quarter of Americans say they worry about money all or most of the time. That makes sense given that four out of five Americans are in debt and around 15 percent of households have a negative net worth. Let’s face it: money and debt can be pretty scary.
Chrometophobia Symptoms
Chrometophobia is not as common as other phobias, like claustrophobia (the fear of crowded spaces) or acrophobia (the fear of heights). However, like other phobias, chrometophobia is an abnormal and irrational fear that carries with it a number of symptoms that vary in severity. Here are a few clear symptoms of chrometophobia.
Extreme Hesitance to Think About Money
For most people, chrometophobia boils down to an unwillingness to address unhealthy spending and saving habits. Perhaps this means you’re excessively hesitant to spend money, even on items that you know are necessary, because you’re afraid you might run out of money. Or maybe you feel powerless to manage your finances, so you stop saving money and paying your bills.
Withdrawal from Activities
If you suffer from chrometophobia, you might find yourself avoiding activities that you normally enjoy. For example, maybe you skip family movie night, date night with your partner, or another pleasurable activity because you’re worried about your finances.
Desire to Count Money Constantly
However, chrometophobia takes this ordinary fear of money and spending to the next level. Jump to our infographic below to learn more about this phenomenon or keep reading for a deep dive into what this fear of money really means, what causes it, and how you can overcome it.
It’s normal to check your bank account on a regular basis. Some people check theirs every day! However, if you’re constantly logging into your checking account or counting and recounting the cash in your wallet several times a day and feeling stressed about what you find, you might suffer from chrometophobia.
Refusal to Touch Money
On the other end of the spectrum, if you refuse to handle money, you might also suffer from chrometophobia. Maybe you’re afraid of getting sick from the germs on money or maybe you’re emotionally triggered by the sight of money. Regardless of the reason, refusing to touch money can make everyday activities more difficult.
Depressive Thoughts Or Physical Ailments
Chrometophobia, like other phobias, can also bring with it intense feelings of hopelessness, anxiety, and depression. If you’re feeling intense anxiety caused by your financial situation, you should contact a mental health professional right away.
In some cases, you might also experience physical symptoms of chrometophobia, like shaking, sweating, dry mouth, nausea, or shortness of breath. Again, contact a medical professional immediately if this is the case.
If you could eliminate the fear of investing in yourself, would that open up the world of investing for you? There are so many options to grow your wealth. Let’s talk about one alternative. Given the changes in the world today, should you investing in “paper” gold rather than holding the physical gold? Gold exchange traded funds (ETFs) are an option that one should consider if you track the price movement of gold without holding the phyical asset.
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