Your Money Your Business - The Podcast with Debbie Colbourn podcast

Overcoming the Fear of Money: Discover the Hidden Barriers to Financial Success

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Unpacking the stories that fuel our resistance to having more money, and learn how to have open discussions that build trust and financial well-being in both our personal and professional lives.


In this episode, we're delving into the fear of money - a topic that might not have you jumping for joy, but it's something most of us can relate to on some level. You're not alone in feeling that twinge of anxiety when money comes up in conversation. According to a recent survey, a significant percentage of both Gen Z and Millennial demographics report money as a major source of stress.

Money anxiety, worry, panic, and overwhelm can creep into our lives, affecting our financial future.

Where Does I’m Scared of Money Come From

The fear of money often stems from our past experiences and the stories we've absorbed. Most of us were raised in an environment where talking about money was taboo. Phrases like "money doesn't grow on trees" and "we can't afford it" were constantly heard at home. These statements left a mark on our subconscious, creating a belief that there would never be enough, regardless of our income. 

Understanding and addressing the fear of money isn't straightforward. It's a journey that often starts with trepidation. It's this uncertainty that holds many back from exploring their financial potential.

Financial Traumas are Not Just Experienced by Wall Street Investors

Fear of money often arises from big and little financial traumas in our lives. These traumas can range from being scammed, business failures, layoffs, theft, or even bitter divorce battles. These events, big or small, shape our relationship with money. They create emotional scars and blueprints against which we subconsciously compare a thought and can lead to a perpetual state of anxiety about our financial decisions.

Making More Money, Start Investing, Save More Money Each Month, and Spend Less

Fear of money isn't just a vague notion. It manifests in four crucial areas of your financial life: Earnings, Savings, Spending, and Investing. Sometimes, it affects all four, but more often, it concentrates in two or three areas. This fear is what holds you back from charging what you're worth or accepting an amazing financial opportunity.

This type of fear goes beyond individual finances; it seeps into our businesses and influences our decisions.

Remember, nearly every argument in a relationship about money isn't truly about the money itself; it's about trust. Imagine a world where we could openly discuss our financial struggles, work through challenges together, and build trust rather than letting money become a silent source of tension.

Financial Struggle and Financial Problems are Real, but not Insurmountable

Take a moment to look around; your colleagues, friends, and family may seem like they've got it all together financially. However, the reality is often different. The fear of money doesn't discriminate; it affects people from all walks of life. Even those who appear to have it all may be dealing with financial stress, hidden behind their façade of success.

Financial trauma is as real as any other form of trauma, and it affects millions of people. The fear of money is rooted in these traumas, big and small, that have shaped our lives. It's crucial to acknowledge that these experiences have a lasting impact.


Today, we've explored the fear of money and how it shows up in our lives. We hope this episode has shed light on the deep-rooted fears and anxieties that may be holding you back financially. The first step to overcoming this fear is to recognize it and acknowledge its presence in your life.

By understanding and addressing your money mindset, you can pave the way for a brighter financial future.


Resources (Revised Sept 2023)

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