4 Ways to Overcome Imposter Syndrome

Have you heard of imposter syndrome? If you haven’t yet, there’s a good chance you have experienced it. It’s the scientific name for that dreaded feeling of not being good enough when you are about to achieve a goal or do something great for yourself. It’s the doubt that a person has on their capabilities, oftentimes feeling like they are a fake and that at any given time someone will expose them as a fraud. 

The International Journal of Behavioral Science reported that 70% of people experience at least one episode of imposter syndrome in their lifetime. The pattern occurs among high-achievers and women. The condition can get serious, and the self-doubt that can occur due to the condition can really affect a person amid crucial moments in their life. 

Given that you’re reading this post and are learning how to be financially fit, you’re likely already making some big financial decisions. Overcoming Imposter Syndrome is essential in reaching your money goals — here’s how. 

1. Shift your money mindset

Let’s say you’re following a new savings plan. You’re halfway through we week only to find yourself frustrated because you tell yourself you’ll always be broke and will never have enough money. The focus on what’s lacking instead of your growth is called the “scarcity mindset” and having this type of perspective only makes Imposter Syndrome worse.

Much of this can come about from your family upbringing. Perhaps you feel like your parents may have demonstrated poor spending habits or you didn’t get a clear structure behind how money works. 

Focus on your growth, because you deserve to be better. And while you do so, keep strong in the belief that you’re absolutely capable of reaching your goal. Can you learn to refinance or consolidate loans so that you save more money over time? Are you open to hearing how certain saving plans can help secure a more solid financial future? 

These situations call for you to put yourself in the driver’s seat and take full control of the situation. There are many psychological tricks that can help you get there. 

2. Recognize your accomplishments

One of the most common symptoms of Imposter Syndrome is the fear of being exposed as a fraud. This can keep you from applying to a job you feel you’d be great at, or worse — keep you from negotiating the pay you deserve

Imposter Syndrome.jpg

Don’t compare yourself to others, and instead, keep an inventory of why you are good enough. You can do this by writing down all the reasons why you’re great at what you do. If you’re up for it, tell it to yourself in the mirror. 

In times when you feel you’re not good enough, this list can help you realize that your fear of being exposed as a fraud isn’t coming from colleagues and supervisors, but rather from your own high expectations. 

3. Find what motivates you

Thankfully, with the power of the internet, you can motivate yourself to get to where you need to be. A Google search for a good motivational quote can be enough to do the trick for some people, but that’s not the only way to move you forward. You can find inspiration from real people who are sharing their stories through social media.

Whether you choose to follow a personal finance guru or a trusted financial resource (ahem — @thefinancialgym) or find inspiration by searching the #motivation hashtag, what’s important is that you find a motivational trigger that works for you.

4. Ask for help

It’s okay to not know it all! In fact, it’s pretty much impossible. Just about everything within the financial space requires a learning curve, and it’s expected for you to seek help. 

This does not mean you are less capable than anyone else. There are many moments where you can feel overwhelmed: from buying a new home to learning about all the different ways to invest your money. The important thing is to have an open mind and feel open to asking others who’ve been in your shoes to guide you through it. A great place to start is by reaching out to a financial coach at The Gym! 

They are probably eager to share their knowledge and you’ll get to see a different perspective or approach in the process. Asking for help doesn’t mean you’re a failure, instead, it’s an opportunity to feel more confident about your next financial step.

Use these framing techniques when overcoming Impostor Syndrome so that next time you’re asking for a raise or investing in something you’ve never done before, you can do so with the confidence of knowing that yes, you’re capable of financial success

The Financial Gym Team