Chrometophobia, or the intense fear of money, is probably not a good thing to have. Yet a handful of people are said to suffer from it, scared of dealing with any form of currency for the fear of corrupting it. Now peniaphobia, or the fear of not having enough money, is perhaps what’s more common among people of all kinds, of all classes, across all generations.
It’s true what they say: When you were young, you were afraid of the dark. Now that you’re all grown up, you fear bright lights—because too much of it could mean staggering electric bills.
Now here are five real-life financial monsters that haunt us on a monthly, weekly, and daily basis. We’ve listed them down so you can acknowledge them, face them head on, and conquer them. It would be good to have someone to cheer you on while you’re at it.
1. The fear of financial planning
A lot of us perceive the word “budget” negatively in belief that it’s putting unnecessary restriction to one’s desired lifestyle. Creating lists, logging expenditures one by one, and doing (mostly mental) calculations are all taxing indeed, so it’s easy to say forget about it. But in reality, setting a budget gives you a crystal-clear scope of how much you can spend and save at the same time. Think of an Excel file as your best friend.
2. The fear of facing the depths of your debt
No doubt, your landlord knocking on your door in the dead of the night is horror film material in itself. This is one of the things that make delaying your rental payment, among other monthly dues and debt, truly spine-tingling. Everything is bright and sunny as you swipe your credit card, until you have your sinister billing statement in hand. Face the monsters that haunt you monthly by devising a plan how to pay your debt little by little. Learn how to prioritize the essential stuff, set the less important things aside, and you’ll see life isn’t that gory after all.
3. The fear of negotiating a raise with your boss
You stay in the office until late at night, working hard amid the shadows. Yet, you don’t see the light in the numbers that reflect on your payslip. You’re stuck in the dark chamber of being underpaid and overworked, and you can’t do anything about it. Just the thought of talking to your boss about a salary increase makes you drop dead on the floor. But help is on the way—if you help yourself. Boost your confidence by listing down all your achievements; strong numbers will give you an upper hand at the negotiating table. Set a meeting with your superior and talk about your concerns. That’s all it takes if you want to let go of the proverbial ball and chain that’s been holding you back for so long.
(Check out also: INFOGRAPHIC: Good Boss Vs. Bad Boss)
4. The fear of retiring penniless
Growing old is a nightmare enough for many of us. Yet even scarier is being old, lonely, and poor. We’ve always stressed the importance of thinking about the future, because it really does matter. Look at your grandparents, and their parents—are they happy? If you see they are, ask them what they think they did right. If not, learn their lessons. For certain, they will tell you one thing: Earn as much money as you can while you’re young, and while you can.
5. The fear of being transparent
Financial infidelity is not a myth; it’s fatal to have a skeleton in the closet when you have a partner. The smallest of money problems, if kept to yourself, can get out of hand. Practice a free-sharing of your expenses. Admit each other’s faults and communicate how both parties can work together to rise from the ashes. No horror storyline even ends with the protagonist running away. Facing your fears and fighting for survival are always the best way to go about it.