Every year we have the opportunity to start with a fresh slate. The New Year yawns before us, brimming with opportunity and new beginnings. Whether or not we consciously make resolutions for the coming year, most of us have a sense of what we want to achieve for the year.
According to a 2012 Harris poll, 46% of Americans make New Year's resolutions. And next to weight loss, improving one's finances was a top goal. Health and money accounted for two thirds of all yearly goals. However, the vast majority of people don't accomplish what they set out to do on January 1, as only 8% of goal-setters achieve their annual resolutions. For those who set goals to make more money, this lack of follow-through can have a profound impact on their quality of life.
One of the main obstacles to financial success is low self-confidence. Low confidence makes us doubt our abilities and judgment and prevents us from taking calculated risks, setting ambitious goals, and acting on them. At work, people who suffer with this problem often engage in subconscious behaviors that undermine their success, making them less likely to ask for or get promotions, raises and even jobs.
And unfortunately, bosses, clients, and customers make negative assumptions about people who exhibit behaviors of low self-confidence, believing they are incompetent or apathetic. (more…)