Are You High Income, Hot Mess?

“If I made more income, I wouldn’t have all these money problems.”

Maybe you’ve said or thought this at some point in your life. Maybe you’re saying it right now! 23 years ago, when I was living on the edge of broke, I said it all the time. Unfortunately, I proved myself wrong every time I received a raise. Having a high income doesn’t mean all your money problems disappear.

For me, more income meant higher credit limits and more spending way back then. It wasn’t until I completely crashed and burned financially that I realized the true problem wasn’t income. It was my mindset and my habits.

When I’m asked who my ideal one-on-one coaching clients are, here’s what I say:

High-income professional couples and divorcing women making more than $250,000 who feel like they are treading water financially. I empower them to achieve lasting Financial Dignity® with personalized money strategies and a mindset makeover.”

Some of my favorite clients describe themselves as “high income, hot mess.”

I’ve heard people say, “If I made six-figures a year, I wouldn’t need the help of a Financial Dignity® Coach!” I wouldn’t be so sure about that. The truth is that more money only amplifies our current financial habits. If you spend everything you make, run your credit cards up to the limit, and don’t put money into your savings right now, more income won’t solve the problem.

This is why we regularly hear of lottery winners and pro athletes filing bankruptcy despite their millions of dollars of income. If your money mindset and habits don’t improve with your income, you’ll still be living on the edge of broke. You’ll just be wearing nicer clothes and driving a newer car on the way to bankruptcy court.

Most of the coaching clients I work with one-on-one are high income professionals and business owners. They’re lawyers, real estate professionals, sales executives, bankers, IT consultants, branding experts, and doctors. My clients are really smart people, which is why they feel so much shame about the money messes they’re experiencing.

But even geniuses make money mistakes! When I hit financial rock bottom, I had an accounting degree, so I completely understand the feelings of embarrassment and anxiety. You don’t want your friends, neighbors, co-workers, or the people at church to know you’d only have to miss a few paychecks before the financial house of cards starts to tumble down.

Here’s what I know for sure. For my clients who fall into this category, a major turnaround is possible in both their net worth and their mindset in relatively short period of time. BUT… they have to be open-minded and committed to the work we do together on both the financial strategy and the mindset work.

Why is the money mindset work so important? It’s because your thought and words around money drive your actions. I can give you all the cost-cutting tips in the world and they might work for a short while. However, if you don’t change your underlying beliefs about money, you’ll eventually be pulled back into your old ways.

So, if you’ve taken a personal financial class at your church or online course and it didn’t help you in the long term, I’m not surprised. Most financial literacy programs skim over the mindset piece, if it’s mentioned at all.

So, whether you’re a high income earner or not, if you want to revolutionize your relationship with money and really feel confident about your financial future, commit to working on your money mindset. When paired with practical financial strategies, a positive money mindset will take you from hot mess to financial success!

Related: Generosity Makes You Rich