Book Review: ‘Overcoming UnderEarning’ Part 11
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I just finished reading and reviewing a book by Barbara Stanny called ‘Overcoming UnderEarning’! I learned a lot from it and I hope you found my reviews helpful also! A guide to the whole set of reviews is here.
The last chapter was called ‘Putting it all Together’ and focussed on one particular person’s story.
What I’m going to do with this post is review my reviews of the other chapters and highlight my favorite parts – as well as the parts that I want to keep in mind best I can to help my own situation:
“replace a bake-sale mentality with a grander vision”
one common trait of underearners is “a high tolerance for low pay”
“the key to upping your earnings is rarely working longer hours …”
“high earners ‘think’ differently which results in different choices and outcomes. And some of the inner voices that tend to hold us back like “you do not have what it takes”.
“The Most Important Financial Advice You’ll Ever Get”. And the answer is:
You’ve got to be willing to be uncomfortable.
“underearning can no longer be an option, keep your commitments, don’t let yourself get derailed, do what you dread.
“… if you don’t do what you say you are going to, it chips away at your self-esteem
“Not one of us will ever make more money until we explicitly decide that’s what we want to do. I saw this with every six-figure woman I spoke to.”
“you’re willing to walk through fire to make it happen.”
“Making a decision means slamming shut all the doors to other options, blocking off the exits, and, no matter what happens, keep moving toward your destination because anything else is unacceptable.”
“You need to be stubborn about the results you’re going for, but very flexible on how you get there.”
“Resistance emerges as soon as you enter the Discomfort Zone, the space between where you are now and where you want to be”. Barbara then lists 12 signs of being in resistance. I won’t list them all here, just the ones that stood out to me:
- You’re scared into inaction
– You fog up, space out
– You feel paralyzed
– You find reason not to act
“Whenever you decide to do something different … the desired result always lies just beyond reach, in the Discomfort Zone.”
“Your biggest barrier is fear.”
“There’s no escaping the Discomfort Zone.”
“From this day forward, find ways to stretch on a regular basis.”
“Create Community
4 kinds of supporters: True Believers, Confidantes, Way Showers (role models) and Messengers1) Realize no one will do this for me, but I don’t have to do it alone.
2) Reach out, ask for support.
3) Hang out with the kind of people you want to be, not who you’ve been.
you need to shift your mindset from whatever it is now to that of a wealth builder.
“Think big. Act small. And never, ever stop until you attain your goal, no matter what.”
5 steps:
1) Tell the truth about what’s not working, and what is.
2) Make a firm decision about what you truly want.
3) Look for opportunities to stretch by doing what you think you can’t do.
4) Surround yourself with a supportive community.
5) Respect and appreciate money by taking good care of it.
Throughout the book Barbara had inspirational quotes here and there – these were my favorite ones:
“Thoughts become words. Words become actions. Actions become habits. Habits become character. Character becomes destiny.”
— unknown
“Life is not about finding yourself.
Life is about creating yourself.”– George Bernard Shaw
“The truth is the only safe ground to stand on.”
“The question I ask every day is the same it’s always been. How much further can I stretch to reach my fullest potential.”
— Oprah Winfrey
“If you grow your money so you have more than you need, that’s wealth. If you use your money to make a difference, that’s power.”
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Related Posts:
- Overcoming Underearning: Book Review Part 10
- Overcoming Underearning: Book Review Part 7
- Overcoming Underearning: Book Review Part 6
8 Responses to 'Book Review: ‘Overcoming UnderEarning’ Part 11'
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on July 24th, 2008 at 9:30 pm
Might have to add this book to my amazon wish list.
on July 24th, 2008 at 9:34 pm
Thanks! Let me know if you get an email – as this should both post in the comments and send you an email, unless you checked the ‘subscribe to comments’ box.
But is doesn’t look like commentluv is working
on July 25th, 2008 at 8:12 am
These are some great, simple ideas that anyone who is serious about getting out of a low paying job should read. Thank you for sharing – it’s time for me to take action.
Business book believers last blog post: David Sedaris, Nam Le, Daniel Silva, and Other Author Interviews: Five New Books for July
on July 25th, 2008 at 1:57 pm
Thank you for doing such a fabulous job summarizing my book, Overcoming Underearning. I loved everything you said. I know you inspired others. And I am deeply honored you chose my book to review so enthusiastically and accurately.
With deep appreciation,
Barbara Stanny, author
http://www.barbarastanny.com
on July 26th, 2008 at 2:10 pm
Thanks! This is a great set of reviews, almost a book in itself! I read a few out of order, but now need to start at the beginning.
One quote above from the book, “high earners ‘think’ differently…” is interesting. I have talked and joked about this with friends many times. We joke we will never be rich because we just don’t think like the way that is necessary to accumulate wealth. We laugh that this is a good thing and what makes us the people we are and love. But under the joshing around, I think we all wonder if it is possible to “harvest” some of the approaches to life that financially successful people have. I guess the trick is to do it without sacrificing what we like about who we are now.
Wills last blog post: Beneficial Insects In The Garden
on July 27th, 2008 at 12:12 pm
I loved your Blog and Your Website…one more example of things I want to do and have not done yet….Anyway this book looks great. I was on the Debtors Anon website and I saw the word underearner and it was like a light bulb went off in my head. I have always known I am smart even though for years I downplayed that. Than in my thirties I took off and went back to school and got my degrees and made a career and a life for myself. It was incredible. I was a single parent with five children, and yet managed to get both my BA and a Masters Degree. Long Story short I worked my way quickly up the ladder and went from being a counselor making 20,000 a year to be the Executive Director of an Agency making about 80,000, within about five years. It was all wonderful. I still had alot of left over “Junk” though from childhood and from years of abuse. I was struggling with depression although keeping it at bay by spending time with kids and through the love of my workand what I was doing, etc. One fine day howevr I fell and broke my ankle in about 27 pieces and for the next couple years….”all hell broke loose”. My Ex-Husband came back on the scene because I needed his help with the children while I was in a wheelchair, etc. and besides that I ended up getting addicted to the pain pills I was taking . In a nutshell I ended up losing everything. I went to live with my Mom for awhile after loosoing my home and she died about a year and a half later. With that came homelessness and more poverty until I finally realized there was def. more wrong than just a broken ankle not healing right. So another long story short I find out I have Rheumatoid Arthritis (by the way by now the EX was not only long gone again, but dead from an overdose)… and so things got steadily worse for awhile. Finaly I just kept praying and I just kept reminding myself of who I once was and eventualy made my way back to AA (I had beenr ecovering form alcoholsm throughout all of this, and to this day never have taken another drink, I have 26 years of sobriety Thank Goodnes). I have been trying so hard to get a career back and for the last few years Ive worked at either just above minimum wage or close enough to it. My last job was substitute teaching which I did enjoy and I started to notice some of my old ways, of looking at the big picture, whcih is something I have always done. When I was a counselor I wanted to know what the rest of the Organization did, and I learned quickly which is how I was able to work my way up so fast. I have always loved fixing systems, you know, making things better so people can get help , thistype of thing, is my passion, which is why I was so good as an Executive Director. I have just lost all my confidence and I dont seem o be able to get back the vision of myself as being sucessful. Before I couldnt see myself as anything else, but, do you know what Imean? I am sorry to go on and on, and I wasnt expecting to but I can tell you I could probably write even more and more on this topic because it is such a major part of my daily life. Being in debt, never having enough money and knowing I am capable of more but yet not really believing it? I dont know if it is still the past stuff that causes this, or maybe Ihave been out of the loop too long or what. That makes me so sad, I worked so hard to get where I got, and than boom. So I think I will read the book and more on the subject but I do appreciate you “listening” and having your site available for such an important subject. Thanks so much…. Diane
on July 27th, 2008 at 4:55 pm
Hi Diane – If you are following this, I want you to know that something you said lit a light bulb for me also.
I believe you are right that being an underearner has nothing to do with intelligence. I suspect that the more intelligent you are, the more important it is that you do work that you love. I just started an online business helping people do something I love to do myself. I think when you do something like that the positive things you feel about your work come through to your clients and it is real rewarding. I still consider myself an under earner, however. lol! Maybe I will eventually be successful at changing that! I probably should read the book, but I am almost through all Liz’s reviews and she does such a thorough job that I might not have to!
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on July 27th, 2008 at 5:06 pm
TRISHA’S reviews! Sorry to mis-attribute credit. The big “Liz’s Blog Showcase” at the top of every page has subconsciously become associated with this, TRISHA’S site.