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Part 3 of a four part series by Barbara Stanny
How Can You Tell If You, Or Your Client Is An Underearner?
Part III Trait #5: Underearners are self-saboteurs People who underestimate their worth tend to undermine their success. That's why so many bright, talented people can't seem to get ahead. They unconsciously do things that make achievement impossible, inadvertently getting caught in their own subtle traps. Many procrastinate, job hop, take on too much, become scattered and distracted. "I have so many interests," a client said, "I can't just focus on one thing." Or they cleverly justify overspending. "I am always giving away money," a woman told me, "I thought it was bad to be selfish." And still another declared: "I rationalize the hell out of why I need a $200 pair of shoes." Compulsive spending and chronic debting are like quicksand. Once you get sucked in, you'll never make it to higher earnings until you start digging your way out. Trait # 6: Underearners are co-dependent People who don't value themselves easily slip into codependence, putting everyone else's needs before their own. While it may sound noble, taking care of others at your own expense is anything but admirable. Codependence creates victims. "It's like I had this 'use me' sign on my forehead," said a woman, describing her former job in a faith-based organization. "I'd drop everything for someone else, but I had no energy for myself. This is what happens in non-profits. People give selflessly because they're passionate about the organization's mission. It's the norm. We believe to think otherwise is selfish." This kind of thinking isn't limited to nonprofits. It's the typical mindset of most underearners. Attending to everyone else before taking care of yourself is a form of self-sabotage and has been known to destroy careers, if not lives. Trait #7: Underearners live in financial chaos When I ask people why they came to my seminar, the typical reply is: "I'm tired of working so hard and having nothing to show for it." Underearners tend to live paycheck to paycheck, struggling to make ends meet, going from one financial crisis to another, racking up debt, working incessantly with no end in sight. This even applies to those who are making what sounds like good money. Perhaps the biggest fear underearners have about earning more is that they'll have no life, that they'll be working all the time. What an irony! No one works harder or longer hours than an underearner. As a single mom, works two jobs putting in minimum 12-hour days, put it, "My life is ridiculously complicated. I'm working non-stop. I can't afford to hire someone to fix my dishwasher or clean my house. I have to do it. I spend all my 'free' time driving around looking for things on sale. " At some point the truth dawned on her: "You know, it's a lot harder work being an underearner than a high earner." Take my Underearning Quiz at http://www.barbarastanny.com/underearner-quiz.html About our expert: Barbara Stanny, a wealth coach, coach trainer, and author, is the leading authority on women and money. Her books include: "Overcoming Underearning;" "Secrets of Six-Figure Women;" and "Prince Charming Isn't Coming: How Women Get Smart About Money." Visit her website: http://www.barbarastanny.com Feedback is welcome at ExpertSeries@choice-online.com Visit choice, the magazine of professional coaching Website
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