As a person who once had the financial approach of sticking my head in the sand and waiting for the crisis to path, I can speak pretty honestly about the fear associated with taking control of your money. Finances are an area full of emotions. We equate money with power and finances. As a society, we think that the more money we have, the happier we will be. And if we don't have money, we won't be happy. All those strong emotions can lead to a sense of fear that can be crippling when it comes to tackling personal finances.

Facing fears can be a long and painful process. But the first step always includes naming the fear. It can be helpful to sit down and list the specific things that you are afraid of. Perhaps you're afraid that by looking too closely at your finances, you'll realize how little money you have. Or conversely, you'll realize that you have more money than you thought and the fear will come from not knowing how to maximize it's potential. In either case, coming up with some specific points that name your fears is a necessary first step in conquering the fears.

The second step involves identifying the likelihood of those fears coming true. As much as possible, recognizing what fears are ones that should receive attention and which ones need to be let go will start to clear a path through the forest of fears that your financial situation may have become.

The third step is taking action. You've named the fears, you've identified which ones need the most attention, now act. This step is usually the most difficult but also the most gratifying. It may involve creating a budget for the first time in your life or it may call for you to get an additional job to help reduce debt. But through conquering the fears, you will gain a sense of strength in knowing you are able to take care of yourself and manage your finances.

Finances are a common fear. But just like your childhood monster in the closet, they are much less frightening when brought into the bright light of day. Each step that you take to reclaim your finances and conquer your fears will bring you a step closer to financial comfort and satisfaction. Isn't it time to pull your head out of the sand?

Learn more about this author, Kris Olds.
Click here to send author comments or questions.

---

Add your voice

Know something about Fear of finances: How to take control of your money?
We want to hear your view. Write now!