What is Chrometophobia?
Also known as “Chrematophobia.” Describes the fear of money, which can include anxiety of managing funds or coming in contact with contaminated circulated money.
The word chrematophobia comes has greek roots in the words “chermato” meaning money, and “phobos”, meaning fear. Chrometophobia morphs from normal ordinary fears around money and morphs it to something more insidious. Symptoms of chrometophobia may include a lack of desire to face unhealthy spending and saving habits; withdrawal from normal activities that require money; and constantly compulsively checking bank accounts, counting, and recounting loose change or paper money several times. Suffers of chrometophobia can experience periods of anxiety and depression. Physical symptoms, like other phobias, can include nausea, dizziness, sweating, or shaking.
Chrometophobia can be triggered by some of the following things:
- Lack of money or limited financial means: hoarding money or restricting spending, even on necessities, due to fear of running out of money, or not having enough.
- Work-related money anxiety: correlating the number of hours worked to the amount of money made in such an extreme manner that money spent on seemingly fun or “non-essential” activity is cut back or curtailed entirely.
- Lack of financial literacy: ignoring financial responsibility because of confusion around finances, and limited or no financial knowledge.
One incidence of trauma or smaller long term trauma associated with money can be the instigating incident that brings on the phobia. Additionally, individuals with a history of other phobias, anxiety, or depression can be more susceptible to developing Chrometophobia.
People suffering from Chrometophobia may find it troubling or difficult to be around large amounts of money, but also things that are expensive and rare including precious metals, expensive jewelry, luxury cars, etc. Suffers should seek help from a mental professional that can address underlying causes, prescribe different therapies, and in some situations prescribe medication to help manage the related symptoms of anxiety and depression.
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