Ramit Sethi: Feeling Trapped by Your Income? Ask Yourself These 7 Questions
Written by
Cindy Lamothe
Edited by
Amber Barkley
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Finance guru Ramit Sethi asks you to consider a bold question: Are you settling for less than you deserve? And if so, how can you stop?
“A lot of people have convinced themselves that they’re perfectly fine with the limitations that their income places on their lives,” he wrote in a recent LinkedIn post. “It’s really hard to admit when we’re not content with our life, because then we have to make a choice: Do something about it, or keep knowingly doing the stuff that’s making us unhappy.“
If you’ve been feeling stuck lately — whether in a low-paying job or other financial situation that no longer serves you — Sethi poses 7 questions to determine if you’re trapped.
Mental Gymnastics When Spending
“Do you hesitate (or do mental math) before ordering appetizers, drinks or dessert?” Sethi asked. If you find yourself adding up everything on the menu, you’re not truly enjoying yourself or living in the moment.
“This is one of the most common signs of financial pressure. You put yourself on a ‘going out budget,'” he wrote.
Obsessing Over Your Bank Balance
“Do you check your bank balance daily?” he posed. “Not because you’re worried about going completely broke or spending into the negative. You check because you see your self-worth reflected in the numbers in your account.”
Money status beliefs like this can be unconscious but heavily influence how you see yourself and how you spend. You might end up falling for lifestyle creep, where you end up living paycheck to paycheck despite your income increasing.
Morning Scaries
“When your alarm goes off in the morning, are you flooded with anxiety?” According to Sethi, “if returning to the waking world just makes you want to go back to sleep, you’ve got a big problem.”
Being unhappy where you work can take a toll on your mental health, physical health and overall well-being. You might choose to stay for the money, benefits or sense of security — but it will end up costing you big in other ways.
No Work Boundaries
Sethi asked: “Did you leave your work phone, Slack or email inbox on or open during your last vacation?”
Disconnecting from work when on vacation is the whole point of taking it in the first place. It’s also critical to lowering burnout. But it’s often easier said than done for many people. Sethi noted that “if you can’t toss up a carefree OOO message without spending your whole trip worrying about work waiting for you, you’re more trapped than you think.”
Comparing Your Life to Others
If everyone on social media seems to be leading a more charmed life than you, that’s a clear indicator something is off. “Take a second to think about how you usually feel while scrolling through Instagram,” Sethi noted. “Do you resent people who have ‘more’ than you?”
If photos of other people’s extravagant trips or beautiful new homes are making you green with envy, it’s time to take a step back and reflect on changes you should make in your own life.
Constantly Longing for More
“Do you wish you could be working on something you love, instead of working just for the paycheck?” Sethi asked. If so, this is a clear sign of being trapped.
When you imagine a fulfilling career or job, you’re creating this aspirational vision of your future self. This vision can serve as a contrast to where you are now, helping you to assess what you really want for your life and career.
Escapist Fantasies
In his last question, Sethi gets ultra direct: “When you think about spending the next 5 years doing what you’re currently doing… are you tempted to leave it all behind and flee to the forest, a van or a Tibetan monastery?”
Many of us have escapist fantasies where we get to live out different versions of our lives — but feeling an instinct to run rather than stay put in your current situation is a big sign of being trapped.
Takeaway
Answering “yes” to a lot of the above questions means “it might be time for you to try something different with your life,” Sethi explained, noting that one of his recent polls showed 90% of his readers wanted to start their own business.
It’s important to remember that while reflecting and fantasizing can be a valuable starting point, taking action and working towards your dreams is crucial for bringing them to life. Seeing these questions as a jumping-off point, however, can help you begin making the right choices to get yourself unstuck.
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