Crematophobia or Chometophobia: Fear of money

To understand Cromethophobia or Crematophobia you have to know that money is one of the biggest stressors that people face today.

In a 2018 report, the American Psychological Association found that money is the number one source of stress, with 72% of Americans feeling anxious about finances at least some of the time.

It is not surprising when those feelings of stress turn into fear of facing your money problems.

I know there have been times in my own life when I have experienced a fear of money. Credit cards maxed out, worries about how I would pay off my car loan, and worries about living paycheck to paycheck dominated my life 10 years ago.

What is Crematophobia

I was afraid to look at my bank statement and would often put the bills in the pile “later” rather than face them upon arrival. It wasn’t always easy, but over time, I got over my fear of money. You too can overcome your fear of money, this is how it is done.

Facing your money problems

The hardest step in conquering your fear of money is facing problems head-on. Take a look at the financial red flags in your life and tackle your money problems. This is the hardest step because you need to look that fear in the face and be brutally honest about the situation.

However, you may not have to face the problem alone. If you have a good support system, consider asking someone you trust to review your financial situation with you.

It is also possible to benefit from the help of a financial professional. If you can’t cope with your financial situation, gather everything together and take it to a devoted loved one or an unbiased third party who can break the news to you.

In my case, my then husband faced the financial situation with me. We both had financial problems before marriage, but bringing them out and seeing the realities of the situation together gave us strength.

  • Sometimes it’s easier to do something scary when you’re not alone.
  • Take a look at the question. Recognize the challenges.
  • Be realistic about it.
  • Once you know where you stand, it’s easier to take the next steps to overcome your fear of money.

Get organized and have a plan

Once you know where you stand, create a plan for your money. If you have a lot of debt, prepare a debt and payment reduction plan. If you want to save for a specific goal, create a plan that allows you to gradually save for what follows.

Come up with a spending plan that reflects your situation and how you want to get out of it, whether you need to make sure you have enough to pay the bills each month or you want to demolish your student loans as soon as possible.

When you have a plan, you are more likely to feel better about the situation.

A United Nations report on retirement found that survey participants were more likely to say that they would retire with a comfortable lifestyle when they had a pension plan thought out and organized from the start.

This applies to most financial plans.

When you have a written roadmap, you are more likely to feel optimistic about what comes next.

Plus, having that plan in writing can help you see, step-by-step, exactly what needs to be done next.

That can help you move forward without fear.

The act of creating a plan forces you to think of solutions to your problems and to create a timeline for accomplishing your goals. Get professional help if you need ideas to overcome some of your thorniest financial problems, and make sure your ideas are realistic.

Once you have that map, you can follow it to better manage your money.

Focus on your progress against this phobia

Are you stuck in the negative aspects of your finances?

Take the time to focus on your progress. Constantly living in a negative mindset results in fear and worry. While you need to confront your problems and be real about your position, you also don’t need to think endlessly about your mistakes.

Look how far you’ve come. Did you reduce your debt by x in the past month? That is a victory!

When I looked at my own expenses a few years ago, I realized that I was paying for automatic subscriptions that I didn’t even use and made an effort to cancel those subscriptions.

Instead of punishing myself for the amount of money I spent on those subscriptions, I celebrated the fact that they would no longer drag me down.

Yes, it was silly not to notice them sooner. But in the end, I remedied the situation.

That financial progress was worth celebrating, and I focused on the fact that I had more money to use each month.

Get over your fear of money

As you improve your net worth, pay off your debt, or find new ways to earn money, focus on that progress.

Simply putting a plan on paper and taking that first step on the roadmap is progress – and a cause for a bit of positivity.

You might be surprised how your perspective on money changes as you go along. Face your problems, make a plan, and focus on your progress.

Very soon, you will be looking forward to checking your account balances online.

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Alexa Clark specializes in Cognitive Behavioral Therapy. She has experience in listening and welcoming in Individual Therapy and Couples Therapy. It meets demands such as generalized anxiety, professional, love and family conflicts, stress, depression, sexual dysfunction, grief, and adolescents from 15 years of age. Over the years, She felt the need to conduct the psychotherapy sessions with subtlety since She understands that the psychologist acts as a facilitator of self-understanding and self-acceptance, valuing each person's respect, uniqueness, and acceptance.

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