Are My Financial Fears Common? [How to Overcome 17 Money Worries]
Are My Financial Fears Common? [How to Overcome 17 Money Worries]
By Women Who Money Co-Founders, Vicki Cook and Amy Blacklock
You probably didn’t stress out about money as a kid. If you got an allowance, earned money, or received cash as a gift, it usually meant you could buy something you wanted.
Even if your parents made you save part of it or set aside money to donate to others, spending money was exciting and made you feel grown-up.
As an adult, your enthusiasm for money and spending may have faded. You may be anxious and concerned about your finances if you are paying for all the stuff – housing, transportation, insurance, student loans, food, utilities, clothing, and more.
Common financial fears include:
Never getting out of debt - Not understanding financial concepts - Losing your job - Discussing money with a romantic partner - Inability to work - Losing all your money - Not saving enough for children’s education - Having to declare bankruptcy — Identity theft - Running out of money in retirement - Having to support your parents
While there are plenty of reports that paint a scary picture of people not preparing for their financial futures, women often have more financial fears than men. This is because we tend to live longer and may face gender gaps related to income and investing.
Women also get “sandwiched in” more frequently. When women should be focusing on saving for retirement, they may have financial and caregiving responsibilities for both their children and aging parents.
Since financial fears and stress can hurt your health and wellbeing, you should accept that your concerns are valid. And take action to face your money worries. While it takes work to develop and follow a plan to tackle money woes, overcoming them may not be as hard as you think.
Reading an article and realizing other people worry about money and have similar financial concerns too, can be comforting. But when your fears cause stress, impacting your physical, emotional, or financial health, you need to face them.
Here’s how to slay 17 common money fears that might be causing you financial anxiety.
To continue reading, please go to the original article here:
https://womenwhomoney.com/common-financial-fears-overcome-money-worries/