Maybe the most devasting effect of low self worth is that it limits your story about what you think is possible, which in turn limits your growth, which ultimately affects your earning potental. Low self worth usually equals low net worth.

When you suffer from low self esteem, you will take less than you are worth in fees, allow others to exploit you and your talent, always be underpaid, and struggle.

When you lack money and have money problems, it becomes the focus of your thoughts and your life. You may go through periods of anger (how could I be so stupid) to fear (if I lost my job I would be in big trouble) to hopelessness (I am so deep in debt I will never be able to get out) to obsessing about schemes to get your hands on some money – at any cost. More money is not the answer to your problems. If you don’t value yourself and your talents, your mind will look for ways to prove you are not worthy and get you to do things to prove you are worthless.

The fear of money is called chrematophobia (really) and it is a fact that fear limits how much you make. Afraid to ask for a good fee. Afraid to ask for a referral. Afraid to raise rates. Afraid to leave a dead end (but safe) job for a potentially better one.  Fear of not having enough, fear of the unknown, fear of failure is what keeps many creative people from realizing their monetary dreams.  Fear can paralyze you and take away any drive you may have had. All of a sudden you can’t focus, can’t create,  and all you can do is make excuses.

Sometimes playing it too safe is a way of sabotaging success.  Another phenomenon I have noticed is that low self esteem prevents us from spending time with people who might push us. We may shy away from people who are more accomplished (and more positive) in favor of others who are struggling or those who are worse off than we are. Misery loves company, so they say. But you are allowing others to pull you down rather than putting in time with people who could pull you up.

Let’s say you are able to rein in your brain and you achieve some success. That doesn’t mean you let your guard down and let the demons back in.  You have to feel you deserve success and money to be able to enjoy and keep it.

ACTION TIME

Write down all the things you have done to earn money. How hard you worked.  All the training that you have invested. The dues you have paid. Your track record. What your work means and does for others. The time you put in. You have earned the right to be paid well, to have money, to be rich.