Fear of losing money | Fear of money | Losing money | Overcome fear of losing money | Money loss.
Fear of losing money: Of all the things that scare us, fear of losing money can seem like the most terrifying. It’s obvious that nobody likes losing money; we care for it as if it were our most precious asset, but we should understand how that fear can affect our attitude. The fear of losing money is inevitable (for both poor and rich folks); It is not a fear of cowards, but a necessary fear. The bottom line is not about fear itself, what’s really interesting is how that fear affects us emotionally.
Several fears occur for several reasons but the most terrific fear is losing money. As because the world is working for their money so with some hard work, years of patience, consistency they are making money, but suddenly if any of the money is lost how it feels? Too bad right? It destroys our happiness and wishes as because we saved our income for many years for any of our dreams but losing it may affect our livings as well as our dreams, so that’s why the fear of losing money is so terrible when consider to any other type of fear.
But how can we overcome it? First of all think, about why the fear of losing money occurs? You are playing gambling? or You invested in a risky environment or You are having too many credits?.. If no means then why do you have the fear?
First of all, make sure that the money you earned is in the safest room which means Banks, lockers, etc. If yes means congratulations your money is in the safest room. But banks are not always the safest, it depends on the investors, customers, and mainly privacy. Because some of the private banks will offer you a good resource for your money but it may not be the safest, there are more chances to get your money stolen by bank corporates or even the owner of the bank.
So first research the safest room, then search for mentors who already have an account or link in that, and lastly see about the privacy they offer. then enter your money in that. So if you do, you have the stability of the money is in safe. But there are so many ways that our money gets stolen gambling, vulnerable links, insecure websites, and especially messages fraudulently. Try to be aware of those to get lose or fear in money.
The foremost reason we fear losing money is trying something new that must do with money. Yeah, this is the major most reason As because we are thinking safe which we already know and stick with that, without upgrading… So that we get those fears when we want to do try something new especially with money… For example, we are thinking of buying a course online as a risk, but we didn’t even spend time thinking of buying new model gadgets, right?….
This is common and most used widely. But the product you buy won’t give any asset, but the course you buy would we are not thinking about that just buying liabilities even we can’t afford and finally results in broke, would you need that kind?? If no means just think of it whether you can afford it, it will give asset etc. So the money can’t be lost simply because you are planning more smartly. Try to avoid these trend addicts.
We all have a lot of fear but I have found the most people have fear of losing money. What if I get cheated when I am purchasing something? What if I donate money or give it to someone else and not enough will be left for me? What if I start a business and I don’t succeed in that and I will lose money? If I will purchase something today and what if I don’t have money in the future for my survival?
Because of this fear, most of us either delay our decision or don’t take that decision at all.
Whenever we are dealing with money this fear crops up. Basically, every fear is a negative and selfish thought. These negative and selfish thought is given to us by our society which includes our parents, our friends, our teachers and all the people whom we interact with.
If someone is telling us any negative and selfish thoughts again and again we start believing in that. Because of the repetition of the negative and selfish thoughts, our neurons become strong, and whenever we get into a situation that involves money the first thought which comes to our mind is the one that is strongest and that is negative and selfish.
If we are surrounded by people who say that money earning is tough, who say that without money there is no respect, no fun or they go one step further that money is everything, or they say that if you will not have the money you will have all the problems in life like your kids will not have a good education, you will not have money for medical expenditure, you will not have money even to eat and you will die.
Now if we are surrounded by people who say the above statements to you every day then we will also be negative and selfish in regards to money.
It is true that money is required to get all these things done and if we will not have that then we will be in big trouble.
I also agree that money is required to get all the material happiness but when we think in this negative direction then we get into a much bigger problem. Those who think positively that they can earn money are the ones who are actually being able to make money.
I am not saying that these negative things do not exist but if our thoughts are negative then we will have higher chances of getting that. If we are positive in thought like if I work hard I can earn money then we have higher chances of earning money. We will not be in a situation where we will not have money just because with positive thought we will work hard and with confidence and that will finally give us money.
If you see all the people who have made money have loved their work. They have never thought that making money is tough they have just worked what they like and they have got money.
To earn money the basic thing is we must be good at something and we must be ready to do that for 14 hrs a day and then we will automatically get money for that work. Both these things we can only do once we love what we do. If we love what we do we will enjoy it and we would want to learn more about that and we will not have any problem in doing that for 14hrs because we are enjoying that.
Because of this reason, rich people never think that it’s tough to make money because they are making money by doing what they like so they enjoy doing that. They think that for my enjoyment I am getting money.
So negative thoughts are not wrong but they are not beneficial. We will degrade our-self using these negative thoughts. So people who are saying you negative thought they are right but they are not choosing
the good thought they are goosing the bad thought.
So how to overcome this fear of losing money?
- Overcoming fear of losing business by Acknowledging Your Money Fears. Before we can change our money patterns, we must first become aware that we’re afraid. We often resist the things that we don’t want to accept which keeps them stuck in place. Acknowledging fear is half battle won. This is the time when we really understand that we have some problem which we need to solve.
- One of the best tricks to overcome your fear of losing money is redefining the concept of failure. What is the meaning of failure for you? You can see it as a tragedy or as a learning experience; You can understand it as a sign to let your plans succeed, or you can view it as an inspiration to go even beyond your desires. Possibly you see failure as a punishment for your ambition, or perhaps you prefer to understand it as a new opportunity; You can also see it as a defeat, while others see it as a sign to start over but more experienced. This is the positive way of looking at the situation. we must not just think about the negative side we must look at the positive side of the situation. This makes us feel energized and push us to work hard.
- Economists have identified loss aversion as a major factor in financial decision-making, in that most people would rather avoid losing money than acquire more. The psychological impact of losing is thought to be twice as powerful as the pleasure of gaining. Don’t be afraid of losing money and never think in terms of poverty, because that is always followed by a large army of burdens, fears, and apprehensions. Instead of thinking about how to have less loss, we must think about how to earn more. This is again working on positive things than pondering on negative.
- Practice Self-Compassion: Most of the time we think negatively of ourselves that we are not good enough, we are not intelligent, we are not hardworking and all this negative self-talk creates fearful awareness, which leads to depression. We must love ourselves. We must say positive things to ourselves like if you will give more time to learn something then you will definitely learn it. Being compassionate toward ourselves is how we can create happiness and fulfillment. Once we love ourselves then only we can love others. Once we think that we have enough then only we will share with others. So in a matter of money also either we must think that we have enough to live a healthy life or we must think that as I am hardworking so I can really earn money. Never think that you can never earn money because you are not intelligent or not hard-working or not lucky. Say positive things about you yourself.
- Be Compassionate Toward Others. Another way to move through fear of losing money is to focus on ways to serve others. In this world one get money by serving others so one must focus on serving others than focusing on what will they get. Once we start thinking about how can we help others which in return gives us money is when we get money. This is how karma works. If we think that everyone in the world must have good money is when we will start attracting money.
- Surrender to god. In this whole world we are very small creatures and whatever is happening in this world is done by the almighty god. He only gives us thought, he only gives us the energy to work, and as per his wish only results come. We are just doing what we have to do, the result is anyway not in our control. So fear of losing money is just not right because gaining or losing is not in our control. We must work on whatever task is at hand and surrender to god for the result of the task. This way we will not have any fear of losing money. Learning how to surrender to truth is an ongoing journey. Letting go of ideas of knowing it all, seeing it all and figuring it out, and just surrendering to God can allow us to let go of the fear of losing money completely. Nothing compares to this level of peace of mind.
7. Change Your Perception. Perception is the gateway to tomorrow. What if you changed your view of the world so that uncertainty was seen as a gateway to possibility? What if the loss was an opportunity for soul growth? What if the universe was always conspiring to support you? When you perceive the world this way, your courage will arise naturally and you’ll be prepared to face all of life’s challenges, including financial foibles.
8. By choosing to think positively we can control our fear of losing money. The second point is whatever we do in life our objective is to have fun in life. We make money to have fun using that money but if we are doing work that is not giving fun then we are investing most of the time in doing something which is not giving fun.
Steve job once said that most of the life we will devote to work and if we will not enjoy that then most of our life is not fun-filled better would be do something which gives us fun and even if we have less money then also most of the time in life we are happy. Paradoxically we will also earn more !!!
Third point which I have is in life we can only perform, we don’t have any control over the result. As we can just control what we can do so we must not think of what we will get. In money also most of the time we think too much about what we will get and because of that, we are not able to give our best to our work. We think that what we will get is not good enough or it is tough to get that or any other thought and because of that we put fewer efforts.
The best way would be just focused on what value you can add and not think much about what you will get. So when we have to give money to others or donate it, don’t think about what we will get, when we spend money on something don’t think much about what we will get just think about what we have to invest and if we can handle that investment does that because thinking more on what you will get will won’t let you make the decision.
9. Avoid Trends And Expensive items. It sucks all our money and pull down us to broke. But most of us didn’t recognize it we just saw the newly released gadget then without thinking just buying that and say I am broke, why money is not staying for me, unlucky…. (LOL). First think of it, if you need it? , or with this, I can get any profit not only money, but time, health, etc…then you go for it, but rather than buying it just for show off is a form of making yourself poor, I would not scold you if you are eligible and affordable…
But if not means then why?? Just see if you can affordable after affording you can live your life without broke means you can, but if not means just live it… You cannot get yourself down by not buying trends, you are going to pay for your food order at the table, others not… Understood that. So the first step to overcome losing money is to stick with affordability by avoiding trends and expensive items…
10. Shut Gambling and Regular Parties. The most trending among people mindset is a short-term success, that’s why they choose to gamble. Because in gambling they bet money to make double by winning, and they don’t think it is not played by mind or hard work we just bet with the flow… It can be lucky to you or your opposite ones anytime… But it happens if you are lucky, your $100 bet turns out to be $500, but in case it is not, then your $100 will become $0, that’s what happens in the gamble.
So try to avoid short-term success by playing risky games to become rich… Work with long-term as because it gives you freedom and safety. That’s why the lucky coupon winners drown to bankruptcy, while small business turns into large scale business. So mostly avoid gambling. And unnecessary parties like weekly twice, monthly 6 to 7 times would drain all your money. it is like slow poison…
At that moment it doesn’t show any results but later on, it will… If you are going to a party rarely, it is good it won’t do anything, but regularly makes it destroy ourselves and make our money zink. So to avoid the fear of losing money, you should avoid regular parties and playing gambling.
11. Record on Spendings and Make Smart Budgeting. If you do this regularly there is no fear of losing money because you know where the money has gone, and how much it has. But if you failed then make sure you are not respecting money you just be careless about it and finally get feared and get broke.
So if you start earning then make the spending record as a habit to see the money spent on where. It not only increases the recordings but also you have gained some knowledge on which things we should spend and which should not… So that you can avoid money debt on useless things.
Which impact results in good finances and you won’t get broke. And the second thing is to budget the things you buy, which means if you are buying a meal in a 5-star hotel which costs around 600 but that same meal in a normal hotel costs about 180 – 200, you have saved 300 to 400 of toss.
Same food, different cost which shuts your hunger, so like this example we have to calculate on everything and spend properly on it. So the third step to avoid losing money is to record your spent money and stick on track of budgeting more smartly.
12. Create a Second Pathway Of Income. Many of the billionaires create 7 sources of income while a rich person creates 2 to 3 sources of income but the middle-class lives in their single income jobs. If the job you work on gives enough money then ok you can travel that way with peace. But what if doesn’t give a satisfying income?? Then you should start plan and work on creating a second source of income, but how?
There are several ways you can create a second source, the most common is business, Rental income, IG pages, and a lot more. If one fails another there, then why we people are struggling in a single job and feeling sad for not living a satisfactory life…
So plan correctly and create a second source, there is another option you can work extra hours and make income then save it, and invest in assets or something you are well skilled. So the money flow occurs automatically, then you can avoid the fear of losing money as you are in a safer zone.
13. Avoid debt. It is one of the bad ways to easily broke from buying things which you can’t afford… Or making debt to buy that… Avoid this because it seems to be nice to buy the things which you love using debt but after that, it is too dangerous because money should be credited to the respective mentor on time or due time to clear debt, but if the situation does not match up then they rudely treat you and mostly you are not able to pay on time so they took up things related to money which impact results in you into broken…
The most valuable respect gets down due to debated money not being paid on time, that’s why you should avoid debt. Start avoiding debt even in smaller things because that’s what results in you bigger, so try as much as possible to avoid debt even in smaller things also.
The best way to avoid debt is to put your desire in things that you can afford by working for it to pay. So it is the best method to follow to avoid the debt trap.
# Most Valuable Quote:
# “If you buy the things which you don’t need, soon you have to sell the things which you need “.
To develop a good attitude in yourself so that you will never have fear of losing the money you can read one famous book by John Maxwell “winning with people” you can buy that book at Winning with people
I am sure after reading how to overcome the fear of losing the money you would want to read how to overcome the fear of failure: https://sudarshanpurohit.com/overcoming-fear-of-failure/
I have a YouTube Channel also and you can subscribe to it through: https://www.youtube.com/channel/UCYGdbB_F0qii4Zo_rn-rCyg/videos?view_as=subscriber
You can visit my Facebook page where you can find all my videos and I update it regularly: https://www.facebook.com/pg/betterworldsjp/videos/?ref=page_internal
You can connect me through my professional network on LinkedIn also here is the link:https://www.linkedin.com/in/sjpurohit/
You can connect me through my Instagram page: https://www.instagram.com/purohit.sudarshan/