Table of ContentsView AllTable of ContentsSymptomsEffectsExamplesCausesDiagnosisTreatmentCoping

Table of ContentsView All

View All

Table of Contents

Symptoms

Effects

Examples

Causes

Diagnosis

Treatment

Coping

At a GlanceChrometophobia is the fear of spending money. A person with this phobia has extreme fear and anxiety about spending money and will try to avoid it as much as possible.

At a Glance

Chrometophobia is the fear of spending money. A person with this phobia has extreme fear and anxiety about spending money and will try to avoid it as much as possible.

It’s common to worry about money, but some people have an irrational fear of spending money, saysAimee Daramus, PsyD, a licensed clinical psychologist and author of “Understanding Bipolar Disorder.” The phobia of spending money is calledchrometophobia.

This article explores the symptoms, causes, effects, diagnosis, and treatment of chrometophobia, as well as some coping strategies that may be helpful if you have a fear of spending money.

The name chrometophobia comes from the Greek wordschrimata, meaning money, andphobos, meaning fear. The phobia of spending money is also called chrematophobia.

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Signs of Chrometophobia

Dr. Daramus shares some signs and symptoms of chrometophobia:

Chrometophobia can show up in different ways for different people. While one person might repeatedly count their money for reassurance, another might be too afraid to touch it, manage it, talk about it, or even think about it.

In some people, the phobia may extend to other valuables, such as jewelry, gold, diamonds, and other expensive items.

However, Dr. Daramus says that like otherphobias, chrometophobia is an irrational fear. Therefore, someone who genuinely has financial problems may not have chrometophobia, because their reluctance to spend money is realistic.

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Effects of Chrometophobia

Dr. Daramus says that chrometophobia can have a significant and negative effect on a person’s life. Here are just a few examples of how fear of spending money can affect someone:

Aimee Daramus, PsyDLife can get pretty bleak when you deny yourself basic necessities and affordable treats.

Aimee Daramus, PsyD

Life can get pretty bleak when you deny yourself basic necessities and affordable treats.

Examples of Chrometophobia

Here are some examples of what a phobia of spending money can look and feel like, as well as the effects it can have on a person’s life:

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Causes of Chrometophobia

Genetic factors can also play a role in phobias. Some people are just predisposed to developing phobias, particularly if other people in their family have them.

“With some phobias though, there may not even be a specific cause,” says Dr. Daramus.

Why People Develop Phobias

Diagnosing Chrometophobia

Thediagnostic criteria for specific phobiaslisted in the DSM-5 include:

Reactions for the 3 Types of Phobias

Treating Chrometophobia

Chrometophobia can be treated with psychotherapy. Here are a few examples of therapies that may help someone with a phobia of spending money:

Treatment Options for Phobias

Coping With Chrometophobia

Dr. Daramus suggests some steps that can help you cope with a fear of spending money:

How to Cope With Financial Stress

Summary

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7 SourcesVerywell Mind uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.Sawyers C, Ollendick T, Brotman MA, et al.The genetic and environmental structure of fear and anxiety in juvenile twins.Am J Med Genet B Neuropsychiatr Genet. 2019;180(3):204-212. doi:10.1002/ajmg.b.32714Substance Abuse and Mental Health Services Administration.Table 3.11, DSM-IV to DSM-5 Specific Phobia Comparison. Impact of the DSM-IV to DSM-5 Changes on the National Survey on Drug Use and Health [Internet]. Rockville (MD): Substance Abuse and Mental Health Services Administration (US); 2016 Jun.University of Pennsylvania.Specific phobias.Kaczkurkin AN, Foa EB.Cognitive-behavioral therapy for anxiety disorders: an update on the empirical evidence.Dialogues Clin Neurosci. 2015;17(3):337-346. doi:10.31887/DCNS.2015.17.3/akaczkurkinAnxiety and Depression Association of America.Types of therapy.Johannes Björkstrand, Schiller D, Li J, et al.The effect of mindfulness training on extinction retention.Scientific Reports. 2019;9(1). doi:10.1038/s41598-019-56167-7Lacey C, Frampton C, Beaglehole B.oVRcome - Self-guided virtual reality for specific phobias: A randomised controlled trial.Aust N Z J Psychiatry. 2023;57(5):736-744. doi:10.1177/00048674221110779

7 Sources

Verywell Mind uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.Sawyers C, Ollendick T, Brotman MA, et al.The genetic and environmental structure of fear and anxiety in juvenile twins.Am J Med Genet B Neuropsychiatr Genet. 2019;180(3):204-212. doi:10.1002/ajmg.b.32714Substance Abuse and Mental Health Services Administration.Table 3.11, DSM-IV to DSM-5 Specific Phobia Comparison. Impact of the DSM-IV to DSM-5 Changes on the National Survey on Drug Use and Health [Internet]. Rockville (MD): Substance Abuse and Mental Health Services Administration (US); 2016 Jun.University of Pennsylvania.Specific phobias.Kaczkurkin AN, Foa EB.Cognitive-behavioral therapy for anxiety disorders: an update on the empirical evidence.Dialogues Clin Neurosci. 2015;17(3):337-346. doi:10.31887/DCNS.2015.17.3/akaczkurkinAnxiety and Depression Association of America.Types of therapy.Johannes Björkstrand, Schiller D, Li J, et al.The effect of mindfulness training on extinction retention.Scientific Reports. 2019;9(1). doi:10.1038/s41598-019-56167-7Lacey C, Frampton C, Beaglehole B.oVRcome - Self-guided virtual reality for specific phobias: A randomised controlled trial.Aust N Z J Psychiatry. 2023;57(5):736-744. doi:10.1177/00048674221110779

Verywell Mind uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read oureditorial processto learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.

Sawyers C, Ollendick T, Brotman MA, et al.The genetic and environmental structure of fear and anxiety in juvenile twins.Am J Med Genet B Neuropsychiatr Genet. 2019;180(3):204-212. doi:10.1002/ajmg.b.32714Substance Abuse and Mental Health Services Administration.Table 3.11, DSM-IV to DSM-5 Specific Phobia Comparison. Impact of the DSM-IV to DSM-5 Changes on the National Survey on Drug Use and Health [Internet]. Rockville (MD): Substance Abuse and Mental Health Services Administration (US); 2016 Jun.University of Pennsylvania.Specific phobias.Kaczkurkin AN, Foa EB.Cognitive-behavioral therapy for anxiety disorders: an update on the empirical evidence.Dialogues Clin Neurosci. 2015;17(3):337-346. doi:10.31887/DCNS.2015.17.3/akaczkurkinAnxiety and Depression Association of America.Types of therapy.Johannes Björkstrand, Schiller D, Li J, et al.The effect of mindfulness training on extinction retention.Scientific Reports. 2019;9(1). doi:10.1038/s41598-019-56167-7Lacey C, Frampton C, Beaglehole B.oVRcome - Self-guided virtual reality for specific phobias: A randomised controlled trial.Aust N Z J Psychiatry. 2023;57(5):736-744. doi:10.1177/00048674221110779

Sawyers C, Ollendick T, Brotman MA, et al.The genetic and environmental structure of fear and anxiety in juvenile twins.Am J Med Genet B Neuropsychiatr Genet. 2019;180(3):204-212. doi:10.1002/ajmg.b.32714

Substance Abuse and Mental Health Services Administration.Table 3.11, DSM-IV to DSM-5 Specific Phobia Comparison. Impact of the DSM-IV to DSM-5 Changes on the National Survey on Drug Use and Health [Internet]. Rockville (MD): Substance Abuse and Mental Health Services Administration (US); 2016 Jun.

University of Pennsylvania.Specific phobias.

Kaczkurkin AN, Foa EB.Cognitive-behavioral therapy for anxiety disorders: an update on the empirical evidence.Dialogues Clin Neurosci. 2015;17(3):337-346. doi:10.31887/DCNS.2015.17.3/akaczkurkin

Anxiety and Depression Association of America.Types of therapy.

Johannes Björkstrand, Schiller D, Li J, et al.The effect of mindfulness training on extinction retention.Scientific Reports. 2019;9(1). doi:10.1038/s41598-019-56167-7

Lacey C, Frampton C, Beaglehole B.oVRcome - Self-guided virtual reality for specific phobias: A randomised controlled trial.Aust N Z J Psychiatry. 2023;57(5):736-744. doi:10.1177/00048674221110779

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