Comments on: Fear of Money http://www.webword.com/wp/2005/04/25/fear-of-money/ The usability blog of John S. Rhodes Fri, 25 Jul 2008 02:27:13 +0000 http://wordpress.org/?v=2.0.3 by: Angie http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-171247 Wed, 05 Mar 2008 20:19:44 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-171247 I think the most important step is to be realistic in what you can and cannot do. I've seen so many first time home buyers jump into something they cannot afford only because they have big dreams. I think the most important step is to be realistic in what you can and cannot do. I’ve seen so many first time home buyers jump into something they cannot afford only because they have big dreams.

]]> by: Mary Beth Hurtado & Elliott Lewis http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-105574 Tue, 03 Jul 2007 14:37:00 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-105574 Its sad to say but I also am one of those people that their checkbook never balances each month, always off a few dollars and I sit and try and find my error. Its sad to say but I also am one of those people that their checkbook never balances each month, always off a few dollars and I sit and try and find my error.

]]> by: Evie http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-67309 Wed, 07 Mar 2007 20:40:50 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-67309 To Veronica: OMG yes! The thought of checking to see what is in the bank actually makes me sick and even pushes me to tears at times! I don't know what it is, or even when it started, but I am totally scared of the bank. I know I'd be much happier of I could overcome this fear. To Veronica: OMG yes! The thought of checking to see what is in the bank actually makes me sick and even pushes me to tears at times! I don’t know what it is, or even when it started, but I am totally scared of the bank. I know I’d be much happier of I could overcome this fear.

]]> by: leigh http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-18765 Tue, 11 Jul 2006 11:07:38 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-18765 I finally conquered balancing my checkbook after my first marriage--my exhusband made a habit of ridiculing me when I couldn't make it come out right every month! I ratcheted down on my receipts and got a serious calculator, and now, I balance to the penny every month. I recently downsized to a smaller apartment with my boyfriend, and have a reasonably well-paying job that I enjoy. The only thing is, I still don't have a savings account, I don't have an IRA and although I have taken the time to draw up a monthly budget, I still spend every dime I earn paycheck to paycheck. I feel edgey and afraid--I actually woke up at 5:00 this morning, unable to sleep, trying to figure out where I could squeeze out just a few dollars more.... I found this website after doing a simple search for "fear of money". My lower back is hurting me this morning, and according to an author named Louise Hay, this represents "fear of money; lack of financial support". I never thought I could actually be afraid of money--most of my life, I've been afraid of not having ANY! And now that I have no reason to be without money, I'm still spending every penny because I'm afraid to hold on to it. And, I'm afraid to admit, I am one of those waiting to win the lottery, (and afraid of what will happen to me when I do!) I want to get to the root of this fear, and get on with my life, the way I want it to be. I finally conquered balancing my checkbook after my first marriage–my exhusband made a habit of ridiculing me when I couldn’t make it come out right every month! I ratcheted down on my receipts and got a serious calculator, and now, I balance to the penny every month. I recently downsized to a smaller apartment with my boyfriend, and have a reasonably well-paying job that I enjoy. The only thing is, I still don’t have a savings account, I don’t have an IRA and although I have taken the time to draw up a monthly budget, I still spend every dime I earn paycheck to paycheck. I feel edgey and afraid–I actually woke up at 5:00 this morning, unable to sleep, trying to figure out where I could squeeze out just a few dollars more….

I found this website after doing a simple search for “fear of money”. My lower back is hurting me this morning, and according to an author named Louise Hay, this represents “fear of money; lack of financial support”. I never thought I could actually be afraid of money–most of my life, I’ve been afraid of not having ANY! And now that I have no reason to be without money, I’m still spending every penny because I’m afraid to hold on to it.

And, I’m afraid to admit, I am one of those waiting to win the lottery, (and afraid of what will happen to me when I do!)

I want to get to the root of this fear, and get on with my life, the way I want it to be.

]]> by: Veronica http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-18551 Sun, 09 Jul 2006 13:52:02 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-18551 This fear you speak of, does anyone also have a fear of checking their bank account or even counting the money in their purse or wallet. On paper does there look as though there is more then plenty of money to live a great life but in reality you are refinancing your home twice a year or trying desperately to find out how to repair you credit. Ever thought about getting a job at a credit bureau just so you can wipe out all your dept and change your credit rating? Why, and more so what is the answer to getting help. Classes on money awareness, hypnosis for a spending habit or classes on enabling people that you constantly help with money? This fear you speak of, does anyone also have a fear of checking their bank account or even counting the money in their purse or wallet. On paper does there look as though there is more then plenty of money to live a great life but in reality you are refinancing your home twice a year or trying desperately to find out how to repair you credit. Ever thought about getting a job at a credit bureau just so you can wipe out all your dept and change your credit rating? Why, and more so what is the answer to getting help. Classes on money awareness, hypnosis for a spending habit or classes on enabling people that you constantly help with money?

]]> by: stacey http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-18330 Thu, 06 Jul 2006 23:00:49 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-18330 i am an aspiring actress: I aspire to make more consistent money. When i'm between acting gigs, I bartend or waitress. When i'm counting money, my heart races and my hands nearly shake. I almost panic. I'm afraid people think i'm stealing it or something. I seem to repel money becasue I can't seem to hold onto my parttime gigs. When I'm broke, i'm the most miserable soul i know; I become desperate but actually more creative about how to pay the freakin' bills. But i also become a burden to my friends becasue they get my "poor me" speeches and usually end up housing me while I sublet my apartment for a few nights at a time to help with the rent. (I live in Midtown Manhattan so its' quite easy to sublet for 3x what one would normally pay) When I have money everything is copaceticc. I don't stress, I'm happy and I sleep better. I'm less ambitious and wish, pray and do voodoo rituals to keep the money situation at status quo. The problem is...I never have consistent money coming in. When I do have a part-time job, it seems I end up in the lousiest lowest paying parttime bar/restaurants there are in the city. i am an aspiring actress: I aspire to make more consistent money.
When i’m between acting gigs, I bartend or waitress. When i’m counting money, my heart races and my hands nearly shake. I almost panic. I’m afraid people think i’m stealing it or something.

I seem to repel money becasue I can’t seem to hold onto my parttime gigs.
When I’m broke, i’m the most miserable soul i know; I become desperate but actually more creative about how to pay the freakin’ bills. But i also become a burden to my friends becasue they get my “poor me” speeches and usually end up housing me while I sublet my apartment for a few nights at a time to help with the rent. (I live in Midtown Manhattan so its’ quite easy to sublet for 3x what one would normally pay)
When I have money everything is copaceticc. I don’t stress, I’m happy and I sleep better. I’m less ambitious and wish, pray and do voodoo rituals to keep the money situation at status quo.
The problem is…I never have consistent money coming in. When I do have a part-time job, it seems I end up in the lousiest lowest paying parttime bar/restaurants there are in the city.

]]> by: Taunya http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-11267 Thu, 24 Nov 2005 02:26:33 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-11267 In my personal experience, there seems to be a common fear of money among start-up entreprenuers. A fear of invoicing, following up on collections, asking for money. In your opinion where does this behaviour stem from (childhood and learned habits?) and what steps can be taken to overcome this fear? In my personal experience, there seems to be a common fear of money among start-up entreprenuers. A fear of invoicing, following up on collections, asking for money. In your opinion where does this behaviour stem from (childhood and learned habits?) and what steps can be taken to overcome this fear?

]]> by: MatthewOliphant http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10688 Tue, 30 Nov 1999 00:00:00 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10688 I never received any money training. When I turned 21, I got $15k which I burned through in 3 months with not much to show for it. I still have bad money habits. I know I am better off now than I was 5 years ago, but that is entirely because I have a child now. I _have to_ attempt fiscal responsibility.<br /> <br /> Sadly, I feel very good when I have money and feel borderline depressed when I don't. I would definitely encourage everyone to see a financial advisor. I wouldn't hand over my account to one, but we went to one and it was helpful. I never received any money training. When I turned 21, I got $15k which I burned through in 3 months with not much to show for it. I still have bad money habits. I know I am better off now than I was 5 years ago, but that is entirely because I have a child now. I _have to_ attempt fiscal responsibility.

Sadly, I feel very good when I have money and feel borderline depressed when I don’t. I would definitely encourage everyone to see a financial advisor. I wouldn’t hand over my account to one, but we went to one and it was helpful.

]]> by: Anonymous http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10689 Tue, 30 Nov 1999 00:00:00 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10689 I'm still pretty simple minded when it comes to money but I haven't had to live paycheck-to-paycheck for the last half-dozen or so years. Still it's hard to get out of that mentality. I'm self-taught when it comes to managing my money. I had to learn when I was younger and living p2p. I had to balance my checkbook at least weekly because I always had to run my balance low and had bounced a few checks. I wish I knew more about investing and the stock market. I've got a 401k (cafeteria?) going at work but I wish I understood it more. Also, I never could save money when I was younger but with diligence I've gotten better at it. Now that I have a bit of a nest egg built up I hate to tap it for anything. I've gone from living p2p to being a hoarder.<br /> <br /> "Money, sex and air. None of them matter until you have none."<br /> <br /> John B I’m still pretty simple minded when it comes to money but I haven’t had to live paycheck-to-paycheck for the last half-dozen or so years. Still it’s hard to get out of that mentality. I’m self-taught when it comes to managing my money. I had to learn when I was younger and living p2p. I had to balance my checkbook at least weekly because I always had to run my balance low and had bounced a few checks. I wish I knew more about investing and the stock market. I’ve got a 401k (cafeteria?) going at work but I wish I understood it more. Also, I never could save money when I was younger but with diligence I’ve gotten better at it. Now that I have a bit of a nest egg built up I hate to tap it for anything. I’ve gone from living p2p to being a hoarder.

“Money, sex and air. None of them matter until you have none.”

John B

]]> by: John http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10690 Tue, 30 Nov 1999 00:00:00 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10690 * When you live p2p there is fear all of the time. <br /> * When you can start saving, you fear you aren't making good choices.<br /> * When you have a pile, you fear losing it.<br /> <br /> John B, you are saying what I have heard many times. First, not many people have a solid education in personal finance. Second, there is fear about money before you have it, when you make it, and after you have it. The fear is always there, grinding you down. * When you live p2p there is fear all of the time.
* When you can start saving, you fear you aren’t making good choices.
* When you have a pile, you fear losing it.

John B, you are saying what I have heard many times. First, not many people have a solid education in personal finance. Second, there is fear about money before you have it, when you make it, and after you have it. The fear is always there, grinding you down.

]]> by: Anonymous http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10691 Tue, 30 Nov 1999 00:00:00 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10691 Great post. I think (though sub-consciously) that I was afraid of money until a few months ago. Then, I decided that the best way to conquer your fear was to face it. I went and bought a sports car. Kidding. ;-)<br /> <br /> I got into learning about money; read articles, subscribed to newsletters, and suddenly, I got a decent idea of what to do. I'm a much better money manager now than I was a year ago I would say. The reason for the change is that I switched from a full-time job to a freelancing situation, so that's made me much more aware. When you know that the paycheck at the end of the month isn't coming, that'll fix you in a hurry.<br /> <br /> I was reading a book recently where the author talked about how she was so afraid of her tax forms and her statements but she decided that it couldn't be all that hard to figure out and learned how to do it and now she's better informed. I think that it's a matter of making a choice of whether you want to figure out how to manage your money or whether you want someone else to manage it for you. For me, I'd rather do it on my own and make my own mistakes than give away something that I've worked hard for to someone else. <br /> <br /> I think the fact that we are <b>never</b> taught about money in school or college is one big reason why we're scared of money. I am sure that's a big reason for abusing your credit card too. I'm still unsure about investing but I think that I know a little more than the average person, so for the moment, I am happy with that.<br /> <br /> I found a couple of blogs about money management but I am not sure if I should post them here, so I won't.<br /> <br /> <a href="http://wiredal.blogspot.com/">Percy</a> Great post. I think (though sub-consciously) that I was afraid of money until a few months ago. Then, I decided that the best way to conquer your fear was to face it. I went and bought a sports car. Kidding. ;-)

I got into learning about money; read articles, subscribed to newsletters, and suddenly, I got a decent idea of what to do. I’m a much better money manager now than I was a year ago I would say. The reason for the change is that I switched from a full-time job to a freelancing situation, so that’s made me much more aware. When you know that the paycheck at the end of the month isn’t coming, that’ll fix you in a hurry.

I was reading a book recently where the author talked about how she was so afraid of her tax forms and her statements but she decided that it couldn’t be all that hard to figure out and learned how to do it and now she’s better informed. I think that it’s a matter of making a choice of whether you want to figure out how to manage your money or whether you want someone else to manage it for you. For me, I’d rather do it on my own and make my own mistakes than give away something that I’ve worked hard for to someone else.

I think the fact that we are never taught about money in school or college is one big reason why we’re scared of money. I am sure that’s a big reason for abusing your credit card too. I’m still unsure about investing but I think that I know a little more than the average person, so for the moment, I am happy with that.

I found a couple of blogs about money management but I am not sure if I should post them here, so I won’t.

Percy

]]> by: Anonymous http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10692 Tue, 30 Nov 1999 00:00:00 +0000 http://www.webword.com/wp/2005/04/25/fear-of-money/#comment-10692 Rule #1 for money management:<br /> Spend less than you take in. <br /> <br /> If you can't follow Rule #1, there's nothing but problems ahead. Spending control is essential.<br /> <br /> Once you have mastered Rule #1, then you have some money to manage. Rule #1 for money management:
Spend less than you take in.

If you can’t follow Rule #1, there’s nothing but problems ahead. Spending control is essential.

Once you have mastered Rule #1, then you have some money to manage.

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