Why are you afraid of money? Read to find out

If you’ve ever avoided looking at your bank account, if you’ve ever panicked about your finances, if you’ve been immobilized by indecision, or if you’ve overspent yourself into debt ... you’re afraid of money. 

When asked what I do for a living – I used to respond “I help families save and protect their money” with a nice smile. As soon as I said the word “money” I would usually see instant fear in the person’s eyes and body language. Why, in a society where we idolize athletes and movie stars who get paid the big bucks, are most people afraid or uncomfortable about talking about money?


Research and from my experience, it comes down to 3 things:

1) Media – fear sells. Guaranteed on the news in the next few weeks - stories about CRA and “wealthy” people penalized for trying to reduce their taxes. Who’s the villain in most movies and what are they trying to get? 

2) Our upbringing – media has also influenced how were raised and raise our children. “Money isn’t everything”, “Money can’t buy you love”, “Money is the root of all evil”, “Only the rich get richer” “It’s rude to talk about money” – sound familiar? 

3) Lack of Financial Education. Parents can’t teach what they don’t know. Money and how it works is not taught in schools. According to Alan Greenspan “The number one problem in today’s generation and economy is the lack of financial literacy” 

We fear what we do not know or understand. 

Next week, we will review how to stop being scared of money and how it can be the “root of all good”. Social Responsible Investments to be included. 

If you’d like to chat before that, call or email today!



Stephan MacLellan 
Mutual Fund and Insurance Representative
Suite 402, 6080 Young St
Halifax, NS B3K 5L2
Email: smaclellan02FEBC@wfgmail.ca
Cell: (902) 240-6508
Fax: (902) 444-2254
www.wfgconnects.com/stephanmaclellan
Location: Halifax Regional Municipality, NS, Canada

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