Beat back 5 financial fears

Everyone's got concerns when it comes to money, but some have fears that can really put a big hole in their financial future. Here's how to overcome five common ones.

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Fear of coming clean with your partner
You know it's bad. So bad you'd really rather keep it to yourself. Why, you figure, ruin your partner's day with news of your mounting debt or the fact that you've been living off your savings?

Because if you don't, the truth will out at the worst possible time -- like when you go to apply for a mortgage and realize that your credit score or lack of savings is killing your chances of getting that house your partner loves. "Then that creates a double problem. Knowing is safer," said Ruth Hayden, author of "For Richer, Not Poorer: The Money Book for Couples."

Chances are you're afraid that your partner will think less of you and want to leave you or, possibly worse, try to control every dollar you spend from now on.

But remember, Hayden said, "you're more than money - there are so many more facets to a relationship. Plus, everyone has some kind of a downside. And money baggage is easier to deal with than others."

Try this: Have the conversation no matter what. It may be uncomfortable but it will pay off down the line, Hayden said. Then make an agreement about what you both want to achieve (e.g., pay down debt, save more for retirement, buy a house) and agree on what you'll both do (and won't do) to reach that goal. Beyond that, allow each other autonomy money - money you can spend that the other person can't question.


Fear of coming clean to your partner

Fear of not fitting in

Fear of being penniless

Fear of success

Fear of taking the financial reins
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Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.