You may not have thought about it in those terms, but it’s a serious question with serious and potentially costly consequences. Is self-doubt hurting your bank account? Let me explain what I mean and how this scary financial scenario can happen … and happen to any of us.

Self-Doubt Keeps You from Going After Your Dream Job

Do you remember when you were a little kid and thought you could be anything you wanted to be? It didn’t matter if President, Ballerina, or Astronaut was your dream job. There was no doubt in your mind that you could do it.

Then as you grew older, self-doubt started to show up and you started to compromise. Yes, those three job options were likely out of reach, and probably no longer on your list of dream jobs. But, what about the stuff you were good at and the things you really wanted to accomplish.

Did self-doubt make you settle for something less than what truly was within your reach? Did you go for a lower paid position or didn’t go after that Master’s degree because you doubted yourself?

Not going after that better job, better education, and something you love to do but instead settling for a reasonable, but lower paying job can cost you big time over the course of your professional life.

Self-Doubt Keeps You from Asking for that Raise or Promotion

And it gets even worse. If you don’t work on your confidence and continue to allow self-doubt to rule your life, you likely won’t ask your boss for a raise every few years and you won’t put your name in the hat for the latest promotion. Even if you do, you won’t do it with the confidence and conviction it takes to get the job.

And again, that can cost you big over the course of your working life. How many promotions and raises are you missing out on because of self-doubt? How much of a difference could that extra money make for yourself, your family, and your financial future?

Self-Doubt Keeps You from Working Hard

One of the big problems with self-doubt is that it keeps us from working hard and trying our best. It is lazy and wants us to coast. And that can cost us not only raises and promotions, but lots of other financial opportunities that may present themselves along the way.

It may keep us from starting our own business, or doing a little consulting on the side for example. Or it may keep us from working hard to get that performance bonus.