Do you experience anxiety about spending money?

Do you experience anxiety about spending money?

Many individuals experience a sense of anxiety about spending money. In extreme cases, the fear of spending money is also called chromatophobia.

Individuals might experience an intense and irrational amount of anxiety while dealing with cash.

What are the signs of anxiety experienced about spending money?

The signs associated with anxiety resulting from spending money are as follows:

Individuals seem overly stressed about spending money.

In some situations, individuals might not even be close to overspending but the idea of spending money in itself is always a source of anxiety for them.

People constantly fear having debts.

Falling into debt is usually perceived as a very difficult and irreversible situation for many people which triggers their anxiety. Some individuals feel spending money might put them in debt due to which they experience anxiousness while spending money

The inability to prioritize one’s financial needs

The inability to prioritize one’s financial needs and demands might cause them anxiousness.

A lack of a To-Do List might become a source of constant worry resulting in a person feeling lost further causing anxiety.

Individuals hesitate with the idea of disclosing one’s financial status with another.

Individuals hesitate to share their financial standing with others. This is the case even with intimate family and friends.

This stems from a belief that discussing financial status openly makes them more vulnerable to be valued in terms of money causing feelings of anxiety.

Individuals underspend and overdo

individuals experiencing anxiety due to money-related concerns tend to underspend and overdo things to keep up with their ideal financial status. The inability to keep up with which causes anxiety.

Individuals with money-related anxiety also have a constant fear of not being able to earn and save a sufficient amount of money to fulfill their needs causing extreme stress and anxiousness. Due to this they also tend to underspend.

What are some behavior resulting from anxiety about spending money?

Financial denial

People experiencing anxiety about spending money display financial denial where they minimize thinking about financial problems altogether.

lack of acknowledgment and acceptance of financial problems means a lack of a plan to fix the problem.

in this individuals may refuse to go through credit records, bank statements, get new credit cards, circulate money among social circles, and avoid conversation about money.

Financial rejection 

in financial rejection, an individual feels guilty when they have financial stability. Individuals look down upon themselves for having accumulated wealth.

This can result from observations of negative behaviors towards rich people and accusing them of exploiting the poor.

hoarding behavior

individuals who experience anxiety about spending money can actively carry out hoarding behaviors. In this, they hoard money that provides for their safety and security.

Individuals who carry out hoarding behavior concerning money might experience extreme anxiety even at the thought of spending money and losing out on money.

Financial infidelity

financial infidelity is characterized by lying about one’s spending behavior even to an intimate partner. Here individuals keep financial secrets that become harder to reveal as time passes by.

What are the ways to deal with anxiety resulting from spending money?

Some ways to effectively deal with the anxiety that results from spending money are as follows

Plan one’s finances in advance

planning one’s finances in advance may help in reducing the anxiety associated with spending money. It gives a clear idea about where they stand on their financial ladder.

Having a plan helps in reducing stress and negative thoughts that occurred due to the anxiety about spending money.

For many people anxiety results from the inability to meet up with their financial demands and goals. However, a plan with more or less accurate figures can help in reducing this uncertainty.

planning one’s finances helps an individual in several ways. One of the most adaptable ways includes creating a budget.

this would involve allocating specific amounts for different needs of an individual. This helps to provide a clear idea of one’s financial standing.

Identify and acknowledge the anxiousness that results from spending money

people must identify and acknowledge their irrational feelings and levels of stress associated with spending money.

In many cases, people are unaware of these irrational levels of stress that they experience while spending money.

However, when one identifies and acknowledges this anxiousness it helps them to reflect upon their thought patterns and weigh out their practicality.

acknowledging the anxiousness that results from spending money also equips an individual to deal with it effectively rather than following the negative patterns and behaviors resulting from the anxiousness.

Actively manage your debts

individuals who are in debt are more likely to be experiencing high levels of anxiousness while handling money especially while spending it.

An individual needs to realize that clearing off one debt is not a one-day process. It requires a lot of planning and progress.

To effectively manage one’s debts an individual must first prioritize them. Post which they must set a plan of action to clear all their debts one at a time.

A person has to realize that trying to clear off all their debts at once is an unrealistic and unachievable goal which only leads to unnecessary anxiousness about money.

On the other hand, some individuals experience anxiety about spending money due to the anticipation of falling into debt. Their anxiousness is completely based on a hypothetical situation.

An individual must carry out mindful spending in a way that does not lead to a strain in their financial standing and also underspending due to the anticipatory fear of falling into debt.

Take a break


sometimes individuals even after having things under control and following their plans experience high levels of anxiety and stress.

This is because individuals constantly dwell on thoughts determined by situational and environmental factors. these negative thought patterns can result in a vicious cycle causing an extreme load on one mental health.

It is important that an individual acknowledges their growth and have a sense of gratitude towards their accomplishments both financially and personally.

What is money anxiety disorder?

Money anxiety disorder refers to a disorder characterized by persistent and irrational worry about money.

Individuals with money anxiety disorder usually have strange relationships with their family and friends regarding money.

They also carry out secretive behaviors and have difficulty sleeping, eating, and maintaining a healthy lifestyle.

Discomforting and unrealistic beliefs about money can result from various negative and irreversible damage caused due to money in the past.


Money is one such thing that can never be enough for any individual. Experiencing anxiety while spending and handling money is considered to be an integral part of an individual’s life

However, when this anxiety about spending money reaches a level that hampers one’s quality of life and it restricts one’s personal development requires immediate attention both personally and professionally

spending money can trigger anxiousness due to various reasons such as the history of bankruptcy, deprivation, inability to meet up with one financial demand, financial humiliation.

However, holding on to these past experiences and deciding upon one’s act of spending in the present and the future might hamper one’s quality of life.

apart from the quality of life, it might also result in increased mental stress leaving very little space for healthy decision-making.

Frequently asked questions

What is the fear of spending money called?

The fear of spending money is called Chrometophobia or Chrematophobia. It is characterized by an intense fear of handling money.

How do you stop being anxious about money?

  • Some ways to deal with money anxiety are:
  • Keeping a track of transactions
  • carrying out mindful shopping
  • keeping a tap on credit reports
  • Being prepared with set goals and plans
  • keeping an emergency fund ready

What causes anxiety about money?

Research indicates that anxiety about money roots in unnecessary spending or saving habits. The main aim of the individual is usually to save money however when they carry out behaviors that go against this it leads to anxiousness.

Is spending too much money a disease?

The term used for spending abnormal amounts of money is Chrometophobia commonly used among mental health professionals, and as of 2017, money disorder is not a clinical diagnosis in either the DSM or ICD medical classifications of diseases and medical disorders.

Why do people get anxious while spending money?

Many individuals experience anxiousness while handling money especially while spending it. This can be explained by several reasons such as prior financial hardship, deprivation, bankruptcy, anticipation about meeting one’s goals and demands.