11 Common Money Fears (And How To Conquer Them)
It’s normal to have money fears.
For some, it may be a fear of not having enough of it. Either way you can feel anxious and insecure.
You may have experienced periods of financial instability. Feeling secure is very important when you want to keep your mental sanity. Too much worry can affect not only your emotional state but also your physical well-being.
You may have also experienced fear of success. This may be because you feel you don’t deserve financial abundance or worry about the responsibility that comes with having more money.
Whatever the reason, money fears can be a real obstacle to achieving financial success. However, understanding where these fears come from makes it possible to work through them and move forward toward a more abundant future.
In this article, we’ll discuss common money fears and how to overcome them.
1. Losing your job
According to the Bureau of Labor Statistics, the employment rate is at one of the lowest points in history:

Even then, there is this feeling that something is about to go wrong. Fear of job loss is a common fear among employees. After all, a job loss can significantly impact one’s life.
It can lead to financial problems, as well as cause stress and anxiety. For some people, a job loss can also mean moving to a new city or state.
This can be especially difficult for those who have family or friends in the area where they currently live. In addition, a job loss can also lead to feelings of self-doubt.
When someone loses their job, it can feel like they are losing their identity.
Here are some actionable steps you can take now to help you conquer the fear of a job loss:
- Try to stay positive and focused on your goals
- Keep up with industry trends in your career.
- Cultivate a strong network of professional contacts
2. Money conversation with your partner
Talking about money for a couple can be stressful, especially if there is a difference in opinions.
Also, for many people, talking about money is a taboo subject. We may fear that we will be judged for our financial decisions or end up in a disagreement with our partner.
However, open communication about finances is essential for any healthy relationship. Here are a few tips for how to talk about money with your partner:
- Be honest about your financial situation. Don’t try to hide debts or expenses from your partner. They need to know where you stand financially in order to make informed decisions about the future.
- Talk about your financial goals. What do you hope to achieve together? Do you want to save for a down payment on a house? Are you planning on retiring? Discussing your goals will help you to develop a shared financial plan.
- Be respectful of each other’s money habits. If one of you is a saver and the other is a spender, try to find a middle ground that works for both of you. Compromising on financial matters will help to build trust and respect in the relationship.
Also Read: How To Budget As a Couple Without Fighting.
3. Unexpected Financial Emergencies
Financial emergencies are a significant source of fear because of their unpredictable nature. These emergencies can be anything from the loss of a job to a car accident; when they happen, the best remedy is to be prepared.
One thing you can do is to have a good emergency fund. An emergency fund is a cushion to help you overcome a situation you didn’t expect. For example, having 6 months of living expenses can go a long way in easing your mind.
Emergencies can be managed with proper planning. So that when they do happen, they don’t catch you off guard and wipe out your finances.
Related: How To Save For an Emergency Fund
4. Sickness or disability

The thought of not providing for your family due to sickness is very real. America is the most overworked nation in the world. Too much stress in your life can lead to severe health consequences.
You might be afraid of getting sick because you don’t want to miss work. Maybe you’re worried about the cost of medical bills, or you don’t have enough paid time off to stay home and recover.
Whatever the reason, it’s natural to feel a little anxious about getting sick.
Here are some things you can do to help you overcome the fear of losing money due to sickness:
First, make sure you’re up to date on your vaccinations. This will help reduce your risk of contracting a serious illness.
Second, eat healthy and exercise regularly, as this can boost your immune system and help you fight off infections.
Finally, remember that most people who do get sick will recover quickly and without any lasting effects. So try not to worry too much about getting sick – it’s unlikely to happen, and even if it does, you’ll probably be just fine.
5. Insufficient Retirement funds
You’re not alone if you’re worried about having enough money for retirement. It’s a common concern, especially as the cost of living rises and pensions become less common.
There are a number of reasons why people are scared of not having enough for retirement. For one thing, retirement can last for 20 or 30 years, which is a long time to support yourself on a fixed income.
Additionally, medical expenses can be high, especially as we age, and they’re often not fully covered by insurance. Finally, many people simply don’t have enough to cover all their expenses.
All of these factors can make retirement a scary proposition. However, there are steps you can take to ease your fears and ensure that you have a comfortable retirement.
- Working with a financial advisor to create a retirement plan.
- Consider boosting your income with a side gig.
- You can always downsize your home.
By taking action now, you can help ensure that you’ll have the retirement you want.
6. Asking your boss for a raise
Asking for a raise at your job may be difficult because you don’t want to look greedy or unappreciative.
However, if you have been at your current place of employment for more than a couple of years, you’ve already proven yourself. You are an asset to the company. So asking for a raise is not only advisable but necessary.
Also, keep in mind that you have nothing to lose. In fact there is a reason why more than half of Americans who quit their job, are now making more money than before.
Asking for a raise can be a delicate conversation. Still, it is important to remember that you are worth more than your current salary.
If you have been working hard and feel underpaid, then it is time to talk with your boss.
Be confident in your abilities and explain why you deserve a raise. It is also important to be reasonable in your request.
If you present a well-reasoned argument, you may be surprised at how willing your boss is to negotiate. So don’t be afraid to ask for what you’re worth – it could pay off significantly.
7. Fear of identity theft
Many people fear becoming victims of identity theft when they shop online.
After all, it is easy for hackers to obtain personal information like credit card numbers and social security numbers.
What’s more, identity theft can lead to financial ruin and a loss of privacy.
As a result, many people are hesitant to share their personal information with online retailers.
However, there are steps that you can take to protect yourself from identity theft:
- Make sure you are using a trusted and secure website.
- Create strong passwords for your online accounts.
- Take advantage of credit protection services that monitor for fraudulent activity.
Avoiding shopping online is not the answer to this problem.
You’ll be missing the convenience of ordering from your phone. Also there are many deals that you can only find online. You can always make shopping online safe by following the advice here.
8. Getting divorced and not having enough money
When people get married, they never think of divorce happening down the road. And yet, almost half of couples will get a divorce at some point.
Divorce can take a toll on you and become a source of tremendous anxiety and fear.
Divorce is a costly undertaking. Depending on the length of your marriage, you may have acquired significant assets that are now worth a lot of money.
Unfortunately, those assets and money have to get divided between two people, and that’s when things can get nasty.
Of course, the best thing to do is choose a partner you fully trust. And there are always signs to tell if your partner is financially stable. But more importantly, to work hard every day during your marriage to keep your relationship strong. As a couple, we strive to do things together every day. For example, go for a walk, watch a show together and sometimes just play board games in the house.
To conquer the fear of not having enough money after divorce think about this:
- You get to start over. You can learn from past mistakes and make better decisions.
- You’re stronger emotionally now than before. When divorce is in the past, you are now unstoppable.
- You still have your family and friends to support you.
9. Having to support my aging parents financially

When mom and dad get old, you start to think about what will happen to them when they can no longer take care of themselves. Unfortunately, it’s a very common fear among people with aging parents.
Long-term insurance can undoubtedly ease the tension of taking care of older family members. Insurance like this allows elderly individuals to receive medical care at home instead of relying on other family members for transportation to medical appointments.
It becomes a problem if someone in your family does not have enough funds to cover their medical expenses. In this scenario, you must step in and help them financially.
There are some things you can do to help pay for aging parents:
- Research for government programs that help with medical expenses.
- Find programs that help to provide food for families in need.
You can always sit together and figure out how to cut costs; this will ease the financial burden in your own household.
10. Being stuck in debt
It can seem like a never-ending ordeal if you have been stuck paying down debt for a few years. You know you have to pay the money you borrowed, but it seems like you’ll never be done with it.
Think about the reasons you had to borrow in the first place. Things like student loans or a mortgage are much like a necessity. But if you have personal loans or credit card debt, that is another thing entirely.
If you want to be done paying debts, here are some things you can do:
- Use the snowball method to get a headstart on your debt.
- Learn how to practice frugality in your life.
- Create a monthly budget to help you pay more towards your loans.
- Get friends that are debt free and ask them how they did it.
When all else fails, you can always check out some unusual way to get rich.
11. Losing Money in Investments
The fluctuation in the stock market is another significant source of worry. If you have investments in the market, an economic slowdown can affect you emotionally as you see all your money disappear.
History shows that leaving your money untouched when the market is down will give higher yields than taking your investments out. Even though the market is unpredictable, the market trend is very predictable and over time it always goes up.
If you tend to panic over your investments, getting a financial advisor can help you. After all, financial advisors are professionals educated on how to properly invest. You’ll have mental power for other things when you take the guesswork over what to invest and where.
You can conquer your financial worries
You can overcome most financial fears by being prepared before bad things happen. In this article, we have outlined our best recommendation to deal with unforeseen circumstances like losing a job, being stuck in debt, or not having enough money in retirement.
Fear can paralyze your decision-making abilities and leave you exposed. Emotions are powerful motivators; they can either help you or become a source of anxiety. But everything has a solution.
Remember that you are not alone in this, joining community groups. Keep educating yourself to raise your financial IQ, and keep reading our blog for more tips on how money works.