I want to remind you that “underearning” is about your personal pattern of earning less than your potential. Underearning is not about the economy.  It is about you and your history and feelings around charging people and receiving money.  The economy is an outside factor that may also be affecting you.

When you undersell yourself— setting your fees too low and not raising them appropriately, that is underearning. When you habitually don’t ask for what you need and want, that is underearning. When you ignore opportunities or don’t market yourself consistently, that is underearning. The list goes on. And now more than ever, it is important to look at your part in this.

The truth is that women who have a clean relationship with money are not as affected by outside factors such as the economy. Are they still affected? Yes, they can be. But women who fall into the pattern of underselling themselves and their services are far more affected when outside factors strike.

Earning your worth is part of a personal growth process that all women must go through. This process should not be suspended when outside forces hit! It is about valuing yourself and knowing that your work is worth good money. Outside forces come and go, but the process of earning your worth should never stop. Don’t let outside forces keep you down! Even now, in the midst of so much confusion, you should still be focused on not underselling yourself.

If you take a moment to separate out how you are being affected by the economy vs. how you personally feel about charging people money, you will see that they are two different things. So if you are concerned with the economy but devoted to earning your worth, here are some ideas about pricing:

Price Adjustment
Instead of telling your clients you are raising your fees, consider calling it a “price adjustment”. You should raise your fees by at least 5% every year simple to not fall behind! It’s called inflation. And simply raising them 5% doesn’t honor that fact that you are becoming more experienced. But if you simply can’t imagine raising your fees right now, consider a simple 5% price adjustment. For example, you could say, “In light of the economy I have decided to only implement a five percent price adjustment.” This way you won’t fall behind.

Value Added Route
Go the “value added” route. Instead of discounting your services (I know some of you are tempted!) can you hold firm on your fees and find something of value to entice new clients? For example, can you include an eBook or a tips report? Can you give them a one-time only extra 30 minutes? Make sure that if you do give something away, you let them know it loud and clear so they don’t take it for granted. On the invoice you should list the full value of what you did and then say “no charge”. Make sure people appreciate you.

Hold Your Ground
Hold firm. Don’t back down from your fees. If now is not the time to raise them, so be it. Can you simply stand your ground and make good use of any extra down time you have? Over the last three months I have used extra time to update my bio on my website, finish writing a new workbook and start working with a new marketing consultant. I’ve been doing a lot of writing! I did pair back some expenses and then I held my ground on my fees. After three months of slower work, the phone started ringing more, partly because of all the marketing I did in my down time! (And as I’ve shared with you before, I start each day with a gratitude practice. It keeps me sane!)

Keep the faith that it IS possible to earn what you are really worth.  Take heart and don’t give up! Know that you do deserve to earn good money. This is a process. Commit to working on your relationship to money and it will pay dividends long into the future. In the meantime, I vote that you hold your ground.