Is that your approach to money management? Or, do you avoid managing money because it can be stressful, anxious, and time-consuming?
Money is supposed to make life easier (for example, it can give us choices, etc.), but we see it obviously can have the opposite effect.
So what to do?
Question Why
There is no magic answer. But in my view, it comes down to perspective, psychological understanding, emotional decisions. And so on.
Why is money so stressful?
I suspect that there are several factors. There is always the fear of scarcity. There is also the fears of judgment and comparison. There is also FOMO. There is also the fears of potential ridicule.
If these components are correct, the major overriding emotion is fear. So if we are to move ways from the worst of the situation, we must confront, or at least mend, the fear inherent in our financial world view.
There are noted and well-known actions that can be taken in the face of fear. One primary method is avoid avoidance. Avoiding facing one’s fears is a sure-fire method of prolonging them. If we can face our fears, name them, understand them, and accept them, we have a chance to to lessen their hold on us. And thus we can live an easier life.
No one expects fears to disappear overnight. But over time, they can be reduced in severity and frequency.
There are many ways to approach handling fear. One way to deal with fears is to use your favorite search engine to find techniques and methods if you so desire. I have detailed my one of my experiences here.
There’s a Word For It
When is comes to the fear of spending money, there’s a word for it. The word is chrometophobia. I suspect overall this condition ranges from extremely mild to extremely severe in the general population. Does stress and anxiety bring on this condition, or is this condition the cause of stress and anxiety?
Another Word?
For better or for worse, I could not find a one-word name for chrometophobia’s antonym: a love for spending every cent, or perhaps a better definition would be a fear of not spending every cent.
Time and Again
As long as money is needed in our society, there will be emotions and fears regarding money. Retirement certainly brings with it the opportunity for fear. Retirement generally presents reduced options for income, thus that fear of running out can lurk over one’s shoulder.
While one can never know in advance what retirement’s expenses will be, it is appropriate to estimate what might occur. But even estimating puts on in a bind. Price increases, inflation, new treatments for medical conditions, etc., cast the fog of the future upon us when it comes to money.
Fear regarding money. What your take? Let me know here.
The birth certiifcate from 1765 is from the area in what became southeastern Pennsylvania where numerous religious dissidents from Germany sought refuge.
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