Are You Afraid of Being Rich?

The other night I watched Dateline NBC's special that featured Donald Trump and a few lottery winners.  Seeking financial advice from Trump, the lottery winners shared their stories and asked whether or not they had wise investments.

One of the couples revealed that becoming millionaires was a bit overwhelming and that they were scared of being rich because they didn't want to lose it all like many people do.  When I heard this, it struck a chord within me.  This let me know that I still haven't gotten rid of my own fears of being wealthy.

What about you?  Are you afraid of becoming a millionaire?

I think my fear stems from the time I started college and my father gave me $16,000, which was supposed to last me a couple years.  That was quite a bit of money for me considering I only got $5 a week allowance throughout high school.  Well, I ended up spending all that money within 6 months.  I remember balling my eyes out when I looked at my bank account and had only $1,000 left.  I know I couldn't go back to my dad asking for more money, so I ended up getting a full-time job and paying my way through college. 

I've told myself that I would never blow away money like that again, but I realized after watching the Dateline show that the fear is still there.  I understand now that this fear is blocking my abundance.

Fears About Money

There are many fears surrounding money that you may have, but are not conscious of.  Some fears may include:
  •  Fear of being labeled "greedy" or "selfish"
  •  Fear of being bothered by people asking for loans
  •  Fear of losing it all 
  •  Fear of having too much responsibility
  •  Fear of not knowing what to do with it

Eliminating Money Fears
    There are different ways that you can eliminate this fear.  I like the advice given in this article:

    If you are fearing losing your money, focus on being successful financially, making smart decisions and living an abundant life.

    Another way to help eliminate money fears is through EFT (Emotional Freedom Technique). If you're not familiar with this practice, you can refer to my previous posts about EFT here.

    Brad Yates put together a helpful video about using EFT on fear of having more money.

    If you've ever experienced this fear of being rich, what things have you done to overcome the fear? Share your wisdom via comments below!

    1 comment:

    Roger Dodger said...

    I think the chance of failure is the biggest obstacle in the path to wealth, but also self esteem. People don't feel as if they deserve to be rich and get comfortable in the little rut they've dug themselves into.

    You know, I remember being a kid and watching late night TV. There was this infommercial on that wanted to sell those "How To Be Rich" books. The guy gets on and says "The first step to being rich is to think rich", or to act as if. Get into a rich mindset and believe that you're worth it. I had no idea what it meant then, but he was absolutely right now that I look back. Good Post!

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