I’m guessing most of us don’t love ‘tax’.

Except, maybe, the tax collector!

When we think about that word, we usually think of money – the tax we need to pay on our income or the tax we need to pay when we buy certain products.

But there’s another invisible tax that many of us pay (me included)…

And it’s one that can be avoided – and ethically, too!

It’s what I call ‘the Doubt Tax’.

This tax is the price we pay for letting fear, doubt and uncertainty rule our decisions.

Because we all experience it…

The nagging voice of your inner critic that tells you it cannot be done… you don’t have the skills… there’s not enough time… nobody’s going to listen to you.

All those ‘what ifs’ that make you hesitate and put off a project.

What if I fail?

What if I look stupid?

What if I don’t enjoy it?

But this doubt leads to missed opportunities, unrealised potential and unfulfilled dreams further down the line.

It can cost you so much more than simply the money that you might have earned if you’d overcome your doubt.

You also have to consider losing out on that sense of fulfilment you might feel… the wonderful experiences you might spend the extra money on… and the relationships that might be strengthened (or created) by you being a happier, more confident person with more free time to spare on pursuing your interests.

Imagine what you could achieve if you silenced those doubts and took more risks!

New experiences, more financial freedom and a profound sense of accomplishment.

But, by succumbing to doubt and anxiety, you’re leaving all that on the table.

And for what?

Thoughts and presumptions that may not even be true!

It would be such a waste.

So let’s see if this is something that’s costing you.

Take a Self-Doubt Audit

The key is honest self-reflection.

To minimize the ‘Doubt Tax’, you need to start by acknowledging its existence and the toll it’s taking on your life.

So when you get a few quiet moments today, sit down and run through the past 5-10 years.

Write down, if you can, any instances where you had an idea or plan for a project – it could be anything from a home business, to getting fit, to taking up a hobby, to home DIY or pursuing a career change.

Consider all those projects that didn’t go ahead or that you gave up in the early stages before you could achieve the results.

Now think about what might have happened if you DID pursue all of them, all of the way through.

What would your life look like?

Ideally, cost it out in your head.

For example, it could be that you would now have lower blood pressure, a beautiful kitchen, an extra £1000 income a month, a job you’re excited about and the ability to play the piano.

It’s a bit of a brutal exercise, for sure.

A bit like the “here’s what you would have won” that people get at the end of the TV game show when they don’t walk away with the car or holiday.

But bear with me…

This exercise is not about regretting the things you haven’t done.

This is about avoiding the same costs in the future.

Because if you can recognise that the doubt tax is a thing in your life that has a significant effect, then you give yourself the power to avoid it.

You can spot when those doubts are creeping in and override them!

One thing to bear in mind…

The ‘Hidden’ Signs of Doubt

An obvious sign of doubt could be that you lack the confidence to pursue a goal – that could be because of your education, experience, skill set, age, gender, race or any other number of reasons.

But doubt also takes other forms, too…

Your brain is a trickster, and when you have a deep fear about something, it’s very good at rationalising that fear to let you off the hook.

You’ll suddenly think of dozens of reasons why something cannot be done (too busy… too tired… feel ill… haven’t got the right tools… need to wait for the right time… the economy is in bad shape… there’s a war on… my friend needs help.)

Or you might also find yourself procrastinating wildly, finding things ‘interesting’ that you wouldn’t normally get excited about.

“I would LOVE to start this course but I really feel the urge to make a Spotify playlist of my favourite songs.”

“I would LOVE to get going on this business plan but I’ve got this great idea for re-hanging all the pictures in my hallway.”

That kind of thing.

Often, these can be expressions of fear and doubt, deep down, that you need to recognise and tackle.

But how do you do that?

How to Challenge Your Fears

You need to be honest about the specific fears and doubts that are holding you back or making you procrastinate and then challenge them.

Ask yourself, “Are these fears rational, or are they just limiting beliefs?”

By examining the validity of your fears, often you’ll find they begin to dissolve under scrutiny.

To push past any remaining doubts, start taking small steps towards your goals in order to build up your confidence.

Each win will be like a deposit in your ‘confidence bank,’ that will eventually outweigh the ‘Doubt Tax’ you’ve been paying.

As the small victories pile up, your ‘Doubt Tax’ will begin to diminish and your life will begin to improve in small, but meaningful ways.

This has a knock-on effect too…

Because when you succeed in one project, you’ll find yourself willing to take more risks and embrace more opportunities in the future.

Slowly but surely, your life will grow more abundant rather than being impoverished by doubt.