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The Secret Barrier To Wealth - Underearning
Is the ghost of "Money Past" haunting you? Do you feel like no matter what you do to "get ahead" it never works? The problem may not be what you are doing, it may be what you are thinking. Many of us have deep spiritual and psychological patterns around money that can block our efforts at managing our money better and creating prosperity.
Knowledge is power however, and often just naming our internal blockages can set us on the road to financial freedom. One of the most powerful steps you can take toward clarifying and changing your relationship to money and creating more prosperity is to discover where you have an unhealthy money profile, and then begin changing how you think about your money as well as what you do (and do not do) with your money.
There are six major trouble spots in our relationships to money. They are:
In this article we will begin by defining the most common and often least recognized problem that can lead to money stress and chaos: underearning.
Read the following profile and ask yourself if any of these traits sound familiar. Do you recognize yourself? If so, check the resources section at the end of this article for things you can start doing right now to start overcoming underearning tendencies. After all, you deserve to heal the underlying issues once and for all- so that you can live life with more joy and less stress!
An underearner is a person who has a difficult time consistently earning the money they need to fully maintain financial security and personal independence. While they may have tremendous talent, and often have intermittent periods of earning well, they tend to have difficulty consistently earning enough. Underearners are also those who make adequate money to take care of their immediate financial needs but make considerably less than their talents, education and professional experience warrant. These types of underearners have paychecks that seem big, and yet despite the fact that they are not overspending they still have little or no financial cushion set aside for future needs such as retirement or health care.
The key to understanding underearning is to connect earning with the long term needs. The definition of an Underearner is not simply someone who makes very little money. In fact it is possible to make very little money and NOT be an underearner, provided you have a simple lifestyle and are able to put aside adequate savings despite a relatively low income.
It is also possible to make a great deal of money and be an underearner, if you have large lifestyle expenses associated with earning that income. For example if you are a world class racecar driver and make good money doing it, but also have insufficient sponsorship and have to pay out of pocket for travel and other expenses you might still end up being an underearner- earning less than you need to fully maintain financial security.
Remember, underearners are often very talented professionals it is simply that they are also people who will consistently make less than they need to support themselves in a lifestyle that matches her abilities, vision and priorities. Underearners also often live with considerable financial stress and chaos and find themselves working much harder than the average person.
So, why does it matter what an underearner is? It matters because knowledge is power. If you or someone you love or work with is an underearner, then you need to know that self blame, working harder and fighting debt may not be enough to stop the cycle of stress and pain around money. However, if you can recognize underearning for what it is you can begin to find ways to change your long term thinking about money and start earning higher amounts, more consistently.
If the term "underearning" is one that catches your attention, take a look at the following list to see if you exhibit the typical traits of an underearner.
If you check off ten or more statements then Underearning is probably a financial trouble spot for you. Keep in mind: You can learn to heal Underearning and doing so leads to an immediate increase in personal serenity and business success. Check for resources at the end of this article to help set you on the right path.
25 Common Traits of Underearners
This list is inspired by Jerrold Mundis' bookEarn What You Deserve. If you think you may be an Underearner, it is strongly recommended you read this book and/or the book Secrets of Six Figure Women by Barbara Stanny. To learn more about "Real Hourly Wage" you may also wish to read Your Money or Your Life by Joe Dominquez. You deserve the insight and help these books can provide.
You can begin to heal your underearning tendencies by:
The Most Important Thing to Remember About Underearning:
You do not need to change overnight- and in fact you can't. Awareness in and of itself is the first step and more powerful than you might imagine. If all this information seems scary and moves you into self-judgment, DO NOT DESPAIR! Just by reading this report, you have changed your awareness and moved energy. For now, keep it simple. Take ONE idea, observation, or action item, and play with it. Then put this report in a drawer, and pull it out once a month to re-read and again pick a single item or action item until you feel ready to choose a single category and get support in fully healing it.
Congratulations on Raising Your Earning Awareness!
Mari Geasair is a writer, educator and coach dedicated to helping entrepreneurs and Information Service Professionals move from underearning to high earning. Check out her site My Creative Prosperity- http://www.mycreativeprosperity.com for resources to help you move to the next level. Be sure to check out her FREE hour and a half prosperity seminar you can download to your computer and start listening to today to help you make powerful changes in your money life. http://www.mycreativeprosperity.com/FinancialFreedom05.html
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