Chrometophobia (also called Chrematophobia) is the intense fear of money. Both the words, Chrometophobia and Chrematophobia originate from Greek chermato meaning money and phobos meaning deep aversion, dread or fear.
Money is a necessity of life. However, to a person suffering from Chrematophobia, dealing with money is extremely difficult. The phobia naturally affects one’s daily life as shopping or working, traveling on buses and trains etc becomes very difficult. Some phobics are only afraid of the corrupting power of money; still others might fear financial failures or the responsibility money brings. Some cases of fear of money phobia might be related to fear of germs as a result of which the person might be afraid to touch money handled by someone else. Many go to the extent of wearing gloves to avoid getting sick after handling money. In general, Chrometophobia is a rare phobia affecting handful of people around the world.
Causes of fear of money
- Generally speaking people with very little money tend to suffer more from the fear of money. Often, these include beggars who tend to starve themselves on the streets but refuse to ask for money to buy food. Such people also tend to feel anxious about the little money they have which creates thinking patterns that make them think of money as a bad object.
- As in case of other phobias, the fear of money might also originate from negative experiences, which money often brings. Where there is money there is greed and this concept has been ingrained in us right since our childhood in the form of fairy tales and stories of evil doers who harm good people for money.
- A child might see its parents fight and squabble over money and might grow up with negative thinking patterns about it. These patterns are hard to change and can lead to permanent Chrometophobia.
- Finances also bring responsibilities. One has to take care and save money and invest it to make it grow. Bad investments lead to losses that are often devastating. News reports, stories about these can all lead to fear of money.
- Money often leads to stress and anxiety and could make people feel powerless or out of control.
- People having pre-existing anxiety disorders could also suffer from the fear of money phobia. Deficiencies, other physical illnesses or hormonal disorders could also lead to Chrematophobia.
Symptoms of Chrematophobia
The fear of money could cause varying symptoms based on the extent of one’s fear.
- The phobic might refuse to deal with money. As a result, everyday activities become difficult for him/her.
- Constantly counting money is another symptom of Chrematophobia. Those with little money often feel powerless or find themselves without means of taking care of themselves.
- Many phobics tend to be socially withdrawn and might refuse to participate in family activities. They find it meaningless to buy necessities, or even go for movies, or to restaurants etc. This can affect his/her relationships with family members causing them to feel isolated.
- Depression is a major side effect of this phobia. The phobic often realizes his irrationality of his thoughts but feels powerless to control them.
- Sometimes, the mere sight or thought of money might bring on physical symptoms in the phobic including shaking, trembling, sweating, dry mouth, shortness of breath, nausea, the urge to scream, cry or flee.
- When illness occurs, the Chrometophobic might refuse to see a doctor or dentist, often resulting in negative health consequences.
As can be seen, Chrematophobia is a debilitating phobia. One might think that with the availability of electronic money transfers, or credit cards etc, such fears can be eased as the person does not have to handle money physically. However, the condition is not only about handling money, but more about dealing with its exchange. The thought of exchanging or giving money away sets off a full blown panic attack in the individual.
Overcoming Chrometophobia
Thanks to advances in psychology and psychiatry, there is help available for Chrometophobic patients. Naturally, the first step is to acknowledge and accept the fear and seek help from professionals. Naturally this means spending money but it is important that family members make the phobic understand that it is all for a good cause.
Self help techniques like meditation and positive affirmations can also help. New Age thinking also tells us to let go of materialistic pleasures and earthly bonds to come in a perpetual state of bliss. That being said; some amount of money is necessary for life and, when used well can give rise to fulfillment and joy. One must learn as much as possible about money as the knowledge about it can help erase its fears and prevent them from controlling one’s life. Doing charity, seeing one’s money being put to good use etc might also help the phobic realize and accept the positive side of money.
Other modern therapies such as Hypnotherapy, neuro-lingusitic programming or NLP, gradual exposure therapy and cognitive behavior therapy can also help the patient. All these therapies help get to the root of the Chrometophobia to overcome it once and for all.
Wander Lust says
Anyone know if there is a specific term for people that have an irrational fear that coworkers will make more money than the person wants them to?
Yeah we can call if greed or just narcissistic but I am looking for a more specific answer.
Example a boss that makes $1M / year and has an employee the makes $100k per year. Boss finds out that the employee’s spouse makes $300k / year and that they bought a nice house.
Boss then wants to reduce the employee’s bonus because ‘obviously they don’t need to make more” – and feels that “extra” $25k in bonus could stay with the boss.
Same boss is not bothered in the slightest to see other employees or people in general with similar positions at similar firms make substantially more than her employee.
Point being this irrational fear is directed specifically at the people closest that the boss depends on. I figure someone has identified a specific term for this behavior of this theoretical situation.
Justin says
I wasn’t always great with money there was a time where I would get paid Friday and be broke by Sunday night. But now I’ve actually managed to save up a few grand and now I’m terrified of spending any of it at all even if it’s necessary. I get so angry because all I want to do is keep saving so I can get out of this unfortunate situation that I’m in which is living with my in-laws. But it has caused issues in my family life.
Gregory says
I have to admit that this sounds an awful lot like me.
I hate money. I hate everything about it. I’ve never had it in any kind of quantity. I have never had savings. My entire life I have always lived paycheck to paycheck because I am without question the worst financial planner I know. I have forever been lurching from one financial catastrophe to another. Every time I have been given the mantle of managing my own finances, it has ended in abject failure. I have tried to learn how to manage money, but after so many failed attempts I have given up the endeavor as utterly hopeless.
I have never, ever, been what I would describe as “financially secure.” I am deeply in debt. It has gotten so bad that I live in a van and never have any money to do anything. I blew a tire on my “house” yesterday and it was a full-fledged financial crisis just to get it fixed. My friends and family see me as a huge irresponsible failure, which certainly contributes nothing to my positive self-esteem. They keep lecturing me on how I need to get my stuff together. I’m so sick of hearing it. I would love to get it together. If only I had the slightest idea how.
I’m choking up even writing this because I know that I am a very intelligent man, with a good job (in the technical fields no less) and a decent salary, and am otherwise rational and reasonable. I don’t drink. I don’t do drugs. I don’t gamble. I am extremely responsible. But I can honestly say that I have no idea how I got here, how to get out, or what I can do to stop it if by some stroke of blind luck I ever manage to get out.
I had a manager once, a long time ago, that was trying to broaden her horizons by taking violin lessons. I was working late one night, and I got to hear her with her instructor in her office. There was not a single decent note that she could coax out of that instrument. Not one. The woman had absolutely no innate talent whatsoever for playing the violin and should have put the instrument down then and there and never touched it again. And her instructor should have had the balls to tell her exactly that.
I’m so sick and tired of being told “Pfft! It’s easy! Nothing to it!” That only makes me feel ten times worse, because for me, successfully managing finances has time and again proving devastatingly, frustratingly, literally impossible. You may as well tell a paraplegic “Pfft! Walking is easy! Just move your legs!”
Nick says
I wanted to say I hear you and I feel your pain and that there is help if you so choose to accept it. Believe it or not, there are 12 step programs for folks who have issues with money. For those of us in debt there is Debtors Anonymous and for those of us who perpetually underearn there is Underearners Anonymous. I have found a lot of strength and hope in hearing others help and support. When we rely on our families, we get stuck in old family patterns and they are sometimes our worst fans. You can google info to find phone or in person meetings. Through sharing stories and hearing solutions that help others, we start to share the stigma and shame involved and ultimately, to heal.
Phil says
You are so good with words. I am certain once you figure out one or two things about what is really troubling you when it comes to money you will develop a beautiful pattern with money. The first thing I always tell my pals and clients is that money unplanned for vanishes into regret. Money carries such an interesting energy. It is sought in countless many methods and if you handle yours without any preplanning for it it will unlikely stick around for long. So, work diligently on creating sustainable plans for your money and send it to work for you. Focus on making these plans work for your specific situation and needs. Design a lifestyle you would like to experience.
Chris says
I think I have this fear. I have no problem in touching it but spending it. the anxiety of having enough or suddenly being out of it freaks me out a lot.
Karen says
My 6 year old Daughter has this fear, she wont rest if money is near her. She wont touch it or have it near her, coins or paper, she likes us spending money just wont touch herself….
Dawn says
Today I asked my boyfriend, at the time I thought a silly question “Do you think I have a fear of.. Money?”.
I think so, I struggle typing the word.
Tbh I didn’t know a phobia existed of it but now I do, thank you.
Dx
Kelsey says
I mean this freaks me out I have always told people I dont like touching money they call me weird and stuff but this is proof. So thank you for reassuring me I have not lost my mind completely! I mostly cant deal with the smell it leaves behind on your hands and the gross stuff it has on it all the time and where its been. Thinking about it makes me want to throw up. Eww money, words I thought id never say being a college student!
Anonymous says
Oh God I feel the same. I thought I was the only one. First time I discovered it’s actually a Condition, never knew. I feel gross touching cash. Thinking God knows where it’s been, with a diseased man or beggar who wipes junk on it. It disgusts me. I’ll admit I don’t touch cash at all if I can help it. God help me.
rehan says
total fear negative feeling always loosing my business by it
Lulu says
It affects me mostly in grocery stores, sometimes restaurants. I have to hide my anxiety from loved ones, but some know anyway. I am glad to know I am not alone. My mother said my grandparents fought about money daily. My parents did not. I wonder in some way if this was passed down to me. I never witnessed it.
Lulu says
I have had this phobia for 20 years, after my sexual assault and divorce. I made my kids pay for things because I was so scared. I feel guilt for doing this.
Paige says
This is my anxiety. It effects me buying new clothes and even eating..