1. Fear of the truth can put a hold on your finances and slow you down. You have to face the truth about your finances and never fear it. This is especially for those who face huge debts. When debts become unmanageable, it can look very uncomfortable and could bring a debilitating feeling. Because you are afraid of your situation, your fear can put a hold on your finances and it can slow you down.
2. Fear can prevent you from actively engaging with your situation. Fear can paralyze and its paralyzing effects can also extend to finances. It is what prevents many potential workers from asking for a raise. It is what prevents investors from placing good investments. Fear can harm your overall wealth potential.
3. Fear of risks can lead to many missed opportunities. While it is important to manage your financial risks, it is equally important that you don’t miss out some opportunities that come your way. First of all, you need to know that even if you don’t use your money, it is still at risk. Wherever you keep your money, it cannot escape the effects of inflation. Such risks are out of your control and it can affect you regardless of your fears.
While we look at fear as something negative, it is not always bad at all. Having enough of it and maintaining it at a healthy level may be helpful in protecting your investments. All you need is some appropriate diversification.
When properly managed and directed a little amount of uncertainty and fear can be healthy to your finances. The uncertainties of the future have led many to plan their estate. Others have resorted to setting up emergency funds. Because financial problems may arise anytime, fear of the uncertain future can result to better abilities to plan for the future.
Fear is not at all negative. If you know how to manage it, it can work out to your advantage.