Are you Chrometophobic?

Summer has arrived, I think. There’s plenty to be concerned about. Will Greece stay or go? What is the future of the Euro? Who will win the singles at Wimbledon?

Or what is chrometophobia?

Well despite most of us worrying about not having enough money, there also being a few of us who have a lot of money and worry about what to do with it. 

There is also a third category, and that is those who have a fear of money. This is where an individual will have an abnormal and persistent fear of money. Individuals will experience undue anxiety and worry even though they realize that their fear is both illogical and irrational. There is the constant worry that they might mismanage money.

So for those with little money they will tend to feel very anxious about how little monies they have. For those having money, which most of us would prefer to be in the position of, there is the daily strain of managing larger sums of money and ensuring it is being correctly used.

So, constant thought and worry regarding how it affects your life can be the first indication that this is a potential phobia or obsession. This can eventually lead to depression or even worse suicidal thoughts.

For the technical ones among you, please read on: The fear of money is termed chrometophobia or chrematophobia, from the Greek word “chrimata” (money) and “phobos” (fear). The “chrome” in “chrometophobia” may be related to the Greek word “chroma” (colour) because of the brilliant colors of ancient coins – for example, gold, silver, bronze and copper.

Understandably at this time, there is much fear in the financial markets over what will happen within the Eurozone. One thing is for sure, not much has happened to allay those fears and the politicians are running out of time.

But we must be clear here. The Financial Markets are not your Financial Plan. This is to say that we must plan ahead regardless of whatever obstacles we may encounter on the way.

No doubt Frau Merkel and her cohorts will be doing their level best to resolve the Greek and wider Eurozone crisis. But we must look at what we can control, not that which we can’t.

So if you are suffering from Chrometophobia, come and talk to us. We can help you to make sense of your current financial circumstances and ensure a robust plan of action is in place, whatever the financial weather.

Please contact us with no obligation on 01626 833225.

The above comments do not constitute financial advice and you are advised to obtain appropriate professional advice before proceeding further.