52 Simple Ways to Manage Your Money – 18. Worst-Case Scenario – Fear Of Losing Money
What it is…
Paralyzing fear, both conscious and unconscious, that prohibits you from selecting investments other than bank savings accounts.
How it hurts…
Robs you of new experiences.
Deprives you of improving your financial lifestyle.
Robs you of a higher yield on your investments.
Drains energy.
Reduces joy and satisfaction in life.
Key items to look for…
Your reaction to various investment options.
Your satisfaction with the status quo.
Time…
Ongoing.
Keys to action…
Decide on a dollar amount to be used in trying something new.
Investigate the options.
Prepare a contingency plan— financially and emotionally.
Examine, process, and complete any unresolved issues about money or abandonment.
SET IT UP
Ask yourself, Have I avoided investment decisions in the past because of any irrational fears?
STEP ON IT
Honestly flee internal issues.
STEP ON IT +
Seek out the roots of any barriers to productive and healthy decision-making.
Notice …
Your willingness to try new things.
Your feelings regarding loss.
Your desire for guarantees in life.
Your history of success and failure.
Your ambivalence between being afraid and wanting more.
But what if…
I lose money?
Put your contingency plan in action. Get support from others.
Thought primers…
When I think of something new…
If my panic could speak, it might say…
If I lost some money, I might… As I learn to trust myself…
When I understand that I can count on myself no matter what…
If I weren’t so afraid, 1 might…
