Money shame is a very real thing. There are taboos around money, that, in my opinion, should be broken. You can feel shame for having too much debt. But the other way around is also possible. You can feel money shame for making too much money.
I Make Too Much Money
My close group of friends are all well-educated and well-paid professionals. In my social circle our money game is quite the same. OK, I might save and invest way more than my friends because I’m a personal finance nerd, but regarding income we used to be pretty much the same.
In my sports, however, that is a bit different. People reading my blog regularly might know that I practice the martial art of Brazilian jiu jitsu. In our gym, people from all walks of life come to practice this amazing sports.
We have consultants like me, people who work in social services, soldiers, nurses, sales people, Phd graduates, but also people working in warehouses moving inventory.
And some of these people make very little money for a very tough job. It’s unfair, and sometimes I felt ashamed that I literally made double the salary of some of these people in my previous job.
And now that I went freelance, I had a great week, and made in 1 week my entire monthly salary I made in my job.
Let that sink in. I used to make double what other make. I realise how lucky I am, and the position that puts me in. At age 26, I’m worth well over 100,000 euros already, own a luxury apartment in a large city, and can save and invest half my income.
Then I started my own business and had a very busy week. I worked my ass off, and the work I did that one week, I billed my entire monthly salary. I used to make around 4,000 euros gross at my previous company, and billed almost 4,000 euros for the hours I worked last week. It’s crazy.
I know this won’t be every week, but still. I sometimes do feel money shame. Not for having too little of it, but for having a life that’s maybe too good to be true.
I am thankful of the opportunities I have had so far, but also I know I work really hard and take calculated risks to improve my financial situation. With the excess money I’m making, I can invest in stocks, pay down my mortgage, and improve my overall financials. I would love to be worth 250,000 euros when I turn 30 in three years.
Until then, I have to figure out the money shame thing for making too much.
Has anyone ever dealt with these kinds of feelings? How did you overcome them?