Understanding and Overcoming Money Avoidance: A Path to Financial Empowerment

Money touches nearly every aspect of our lives — from the practical to the deeply emotional. Yet for many people, facing financial matters can trigger avoidance, anxiety, and even shame. This pattern is known as money avoidance, and it's more common than you might think. Whether it’s ignoring your bank statements, procrastinating on bills, or avoiding conversations about money altogether, financial avoidance can quietly erode both your well-being and your long-term goals.

Does this sound like you? Here, we’ll explore what money avoidance is, why it happens, how it impacts your life, and—most importantly—how you can start shifting toward a healthier, more empowered relationship with money. We’ll also take a closer look at a group often overlooked in money conversations: psychotherapists in private practice, many of whom face unique financial challenges and avoidance patterns of their own.

What is Money Avoidance?

Money avoidance refers to the tendency to distance oneself from financial matters, whether consciously or unconsciously. People who avoid money might:

• Ignore checking their account balances

• Delay paying bills or opening financial statements

• Put off making a budget or financial plan

• Avoid talking about money in relationships

• Feel discomfort, guilt, or shame when thinking about money

This isn’t simply about disorganization or procrastination. Money avoidance often stems from deep-seated beliefs and emotions about money, which makes addressing it more than just a logistical task — it’s emotional work too.

Where Does Money Avoidance Come From?

Our money behaviors are often shaped long before we start earning or spending on our own. Childhood experiences, family dynamics, and cultural messages all influence how we perceive and interact with money as adults. For example, growing up in a household where money was scarce or a source of conflict might teach you (consciously or unconsciously) that money is stressful, dangerous, or taboo.

In The Psychology of Money by Morgan Housel (link to external resource), the author explores how personal history and emotion shape financial decision-making. Housel emphasizes that financial success isn’t just about knowledge or math skills — it’s deeply rooted in behavior, habits, and mindset. Recognizing that your past influences your present relationship with money is a compassionate first step toward change.

The Cost of Avoiding Money

While avoidance might provide short-term relief from uncomfortable feelings, over time it often leads to greater stress and tangible consequences, such as:

• Emotional costs: Persistent anxiety, shame, and guilt surrounding finances

• Relational costs: Tension or conflict in romantic relationships or families due to lack of communication

• Practical costs: Missed payments, rising debt, poor credit, and missed opportunities for saving or investing

Ironically, the very thing we try to avoid (financial instability or fear) often grows larger when left unaddressed.

How to Start Healing Your Relationship with Money

Overcoming money avoidance is not about becoming a financial expert overnight. It’s about cultivating awareness, curiosity, and small, manageable habits that rebuild trust in yourself. Here’s how to start:

• Reframe negative beliefs. If you catch yourself thinking, “I’m just bad with money,” reframe it as “I’m learning to improve my relationship with money.”

• Set micro-goals. Commit to checking your account balance once a week or opening one financial statement today. Small wins build confidence.

• Practice self-compassion. Financial habits are often tied to old wounds. Be gentle with yourself as you learn new skills.

• Seek support. Financial therapists, money coaches, and supportive communities can provide both emotional and practical guidance.

Therapists and Money Avoidance

Even those who help others navigate emotions and challenges aren’t immune to their own financial stressors. Therapists, particularly those in private practice, often face unique financial pressures that can contribute to money avoidance.

A recent 2025 survey by Heard: of 3,229 therapists in private practice highlights some of the financial priorities and concerns in the field:

• 32% of therapists named paying off student loan debt as their top financial priority in 2025

• 21% reported diversifying their income as a top priority

• 20% cited saving for retirement as their primary focus

• 59% shared that they do not plan to raise their fees in 2025 — despite rising costs of running a business

59% of therapists that participated shared they do not plan on raising fees — despite rising costs of running a business.

Representation of top financial priorities and concerns of therapists in private practice.

• 6% are raising Fees

• 32% are paying off debt

• 12% are saving for a major purchase

• 20% are saving for retirement

• 8% are hiring and expanding

• 21% diversifying income

Data provided by Heard

These findings suggest that many therapists are juggling debt, income instability, and long-term planning, all while navigating the emotional labor of their profession. Additionally, conversations about fees and money in the therapy room can bring up feelings of guilt, discomfort, or fear of seeming “selfish.”

For therapists, addressing money avoidance is not just a personal matter — it’s also professional self-care. Cultivating a healthy relationship with money allows clinicians to sustain their practices, model financial wellness for clients, and reduce burnout. Steps like setting clear fee policies, consulting with financial professionals, and building business literacy can empower therapists to thrive both emotionally and financially.

Final Thoughts

Money avoidance is a common, human response to complex emotions and histories. But it doesn’t have to define your financial future. With awareness, compassion, and small intentional steps, you can begin to transform your relationship with money from one of fear to empowerment.

Whether you’re an individual looking to build healthier habits or a therapist working to sustain your practice, the path to financial clarity and confidence is available to you.

Ready to take the first step? Explore our resources or book a financial therapy session today to start rewriting your money story.