Are You Money-Shy? 5 Signs You May Avoid Wealth Without Realizing It

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Are You Money-Shy? 5 Signs You May Avoid Wealth Without Realizing It By: Marc Guberti Marc Guberti Marc Guberti is a personal finance writer who hosts Breakthrough Success, a podcast where he teaches listeners how to grow their businesses and achieve personal transformations. Has also written: The Smartest Money Moves for People Who Hate Budgeting Why Feeling Financially Secure Depends on More Than Just Income 3 Simple Ways to Quietly Save Money and Build Wealth Grant Cardone’s Debt Strategy, Explained: When Borrowing Can Actually Help You Build Wealth 3 Sneaky Money Traps That Trick Even Savvy Spenders See full bio Published: Feb 25, 2026 5 min read Getty Images Living above your means and racking up high-interest debt are poor financial habits that you likely know you should avoid. But there are subtle ways people sabotage themselves on the path to wealth. People who are “money-shy” — as in, they have a fear or discomfort around money — may take a more passive approach to finances. Here are five signs that you are hurting your journey to building wealth without realizing it. Must ReadExperts are Bullish on Gold — Here's How to Get InRetirees: How a Small Gold Allocation Can Soften Losses When the Stock Market WobblesWarren Buffett on Market Volatility — and 3 Ways You Can Take Advantage 1. You avoid assessing your financial situation Money-shy people may avoid calculating their net worth and reviewing their financial statements and balances, meaning that they don’t know exactly how much they have saved for their long-term goals like retirement. If you don’t know your numbers, it’s difficult to properly strategize your savings. While you don’t have to (and probably shouldn’t) constantly check how much money you have, it’s a good idea to designate a certain regular time, like once a month or quarter, in which you check in on your financial goals and how close you are to reaching them. That way you can make changes if necessary.

Gold Investor Kit Offer: Sign up with American Hartford Gold today and get a free investor kit, plus receive up to $20,000 in free silver on qualifying purchases 2. You have trouble asking for more Negotiating a raise at work can be difficult, but doing so successfully can make a huge difference for your finances. Try to escape the mentality that you shouldn’t ask for more by considering how much value you bring to your employer and asking for an appropriate raise that reflects how much you offer. Keep in mind that employers also have to incur additional expenses to find and train a new worker, so your employer may actually save money by giving you a raise instead of losing you to another business because you’re afraid to ask for a raise. The same mentality can keep you from negotiating services, like your internet or phone plan. But often, you can save significantly by shopping around or calling your provider and asking about lower-cost options. 3. You don’t take on any risk Typically, you want to avoid pouring your money into speculative investments. But you also have to take on some risk to build your nest egg, such as investing in the stock market. Some money-shy individuals keep their cash in savings accounts because they are afraid of losing it in the financial markets, but leaving money in a savings account with low yields means you’re likely to lose some to inflation. While you can lose money in the stock market, financial advisors typically recommend taking on at least some risk so that your money can grow. There are many low-cost funds that make investing simple by mirroring well-known benchmarks like the S&P 500. Past performance is no guarantee of future results, but investing in the stock market is a time-tested way to reach your long-term financial goals. Pet Protection: See How Spot Pet Insurance Can Help Your Dog or Cat 4. You’re not claiming all your benefits Understanding all your options when it comes to Medicare, Social Security and retirement planning benefits can be complicated. But ignoring these benefits early is usually a mistake, since it means you can’t take them into account when planning and assessing how much money you need in your nest egg to retire. Reviewing benefits can ensure that you don’t retire too early and that you also aren’t working for more years than necessary. It also means you'll take advantage of benefits like a company match to a 401(k) early, giving that money time to grow. Extra Money: Get up to $1,000 in stock when you fund a new active SoFi invest account 5. You gift without proper planning Giving gifts to loved ones can be a special part of the holidays, birthdays and other events, but it requires proper planning. Giving money to friends, families and even charities without first assessing how that giving will impact your budget and savings can lead to financial trouble down the road. Map out how much money you have and how much you need to save to reach your goals, and allocate a certain amount of money for giving. Must ReadExperts are Bullish on Gold — Here's How to Get InRetirees: How a Small Gold Allocation Can Soften Losses When the Stock Market WobblesWarren Buffett on Market Volatility — and 3 Ways You Can Take Advantage