Are you an underearner?

2012-08-07 09:07

If you identify with this checklist, you could be on the road to underearning.

» Not using your time effectively to work towards your goals and wasting time on things you know won’t amount to anything. This includes procrastination and missing important deadlines.

» Undervaluing and underpricing your work and time come at a high price.

This includes not asking for promotions that you deserve, because you don’t want to appear as though you’re asking for too much.

» Losing track of invoices, not keeping records of the work you’ve done, not following up on profitable opportunities and often being unsure of exactly how much you will be getting paid are signs that you are undervaluing yourself.

» Constantly seeking approval even after you’ve demonstrated your competence.

It can stop you from focusing on how you can move forward and can also lead to your skills being taken for granted, since you’ll take on more than you can handle in order to get approval.

How to deal with underearning
1. Look at your beliefs about money. Identify what your issues are surrounding your finances. You can only tackle your problem once you know what’s causing it.

2. Research your peers’ salaries. Find out what people in similar positions earn. Compare it with your income and ask yourself honestly why your earnings are less.

3. Spend money to earn more. Look into investing in a business consultant to help you build your business and price your services.

4. Value your time. This will not only help you use your time effectively, but also help you plan better.

5. Develop a solid action plan.

It should include addressing your underearning by identifying your financial goals and taking steps to achieve them.

6. Meet with a financial planner. Since you have a history of not handling your finances or understanding the psychology behind money, seek help from a professional until you are able to handle it yourself.

7. Read. One of the best books about under-’nearning is Barbara Stanny’s Overcoming Underearning: A Five-Step Plan to A Richer Life (HarperBusiness).

Read more here.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.