Underearning: Simmering in Negative Stew

How many of you have used the phrase: “The rich get richer while the poor get poorer”?

That’s what I thought. Now cut it out.

When you repeat something often enough, it becomes a belief. And if the phrase “the rich get richer and the poor get poorer” pops out of your mouth automatically, then guess what? That’s your core belief. So how are you, dear 99 percenter, going to make more money if your deepest conviction, the very truth as you believe it, is that the cards are stacked against you so why bother even trying?

Those in the 99% bracket tend to be underearners. That is, they earn less than they are worth, or less than their potential. They take low-paying jobs, rarely ask for a raise, and are hesitant to risk the unknown, so they stay where they are, even if that workplace makes Hell look like a day at the spa.

According to Barbara Stanny’s book Overcoming Underearning, underearners:

1. Talk as if they’re trapped.
2. Give their power away.
3. Underestimate their worth.
4. Crave comfort (i.e. resist change).
5. Are self-saboteurs.
6. Are codependent (and people pleasers).
7. Live in financial chaos.
8. Are vague about money and success.
9. Are anti-wealth (“Kill the rich!”).
10. Are controlled by fear.

It doesn’t matter that you say you want to make more money, win the lottery, build up a savings account – if the little voice inside your head says, “You could never earn a six-figure income”, “You can’t make a living at [fill in blank]”, “You’re too old”, and my personal favorite, “Who do you think you are?” then you might as well be talking out of your ass. What you say you want and what you really want – in other words, what your core beliefs are – must be in alignment or they will butt heads and the stronger of the two will win.

So which one is stronger for you:

“I want to make more money”

or

“Wealthy people are greedy”

The first thing to do in order to change your bank account is change your mindset. So how do you do that? 

• Whenever a negative thought about money or people with money comes up, write it down.
• Take each negative thought and reword it until it’s a positive statement. For example, “making money is too hard” can be altered to “making money is easy and fun!” (Go ahead and roll your eyes; eye-rolling does not adversely affect changing your mindset.)
• Then, every time you say or think that usual not, never and can’t bullshit, immediately repeat your new, positive phrase several times.
• Know that it takes 21 consecutive days to form a new habit. So do this as often as needed throughout the day for three weeks. Once your thoughts automatically go to yes and can, watch your actions follow suit.

A word of advice. You know how when you decide to quit drinking after seeing the x-ray of your liver and then you’re hanging out with your drinking buddies who are relentless in their attempts to goad you into “just one little drink”, and when you successfully stick to soda all night they start in with “what are you, a pansy or something?” or “you’re not nearly as funny on lemon-lime seltzer”? That’s what your brain is going to try doing to you as you attempt to form new, healthy thoughts. So here’s the advice: don’t listen!

“The number one requirement for financial [or any] success is simply this: You’ve got to be willing to be uncomfortable.” 

That’s what Barbara Stanny says and she should know. So just understand that while you’re making the change and forming new habits, it’s going to feel uncomfortable. It’s only temporary, so learn to be okay with discomfort. Either that or stay at your $8 an hour job in your polyester uniform with a boss named Skippy and quit complaining.