Because You Are Worth It

As the years go on, stress levels in students and young professionals seem only to rise. Right alongside that increasing stress is the rise of impostor syndrome. While the term impostor syndrome has been around for decades, it’s just begun to gain traction in the last few years. As the pressure for students and professionals to perform at the highest level grows and grows, so does the number of people impacted by this phenomenon.

Imposter syndrome is when someone believes that their objectively good outcomes only come as a result of luck or a one-off situation, rather than as a result of their own hard work, excellence, or talents.

How can it impact finances?

A person who struggles with it may see it impacting their life in many areas, including potentially negative effects on a person’s income. While many people will apply for jobs or promotions, even if they don’t have all the qualifications, someone impacted by impostor syndrome could be less likely to do so. Furthermore, when negotiating, a person with impostor syndrome could be far less likely to negotiate for higher pay. Over the years, this can add up to thousands of dollars left on the table.

What can you do about it?

The good news for people influenced by impostor syndrome is that there are steps that can be taken to overcome it. Five helpful steps include:

• Separating feelings from fact
• Focusing on the positive
• Asking for feedback (positive and negative)
• Celebrating your wins
• Realizing that we all make mistakes and that they are an opportunity to grow

Everyone struggles with self-worth from time to time, but by following these steps, you may have the confidence to advocate for more, because you are worth it. This will enable you to accomplish your financial goals and more.

Sources:  

https://www.healthline.com/health/mental-health/imposter-syndrome

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7174434/

https://www.dynamictransitionsllp.com/origins-imposter-syndrome/ 

https://www.forbes.com/sites/kathycaprino/2020/10/22/impostor-syndrome-prevalence-in-professional-women-face-and-how-to-overcome-it/?sh=35fc8df173cb