Episode #390 – Money Mindset Series Part 3: Is It Time to Break Through Your Income Ceiling?

I’m Cherylanne Skolnicki, and this is Brilliant Balance, the show for those of us who still dare to want it all—who have big dreams and bold ambitions. I believe we deserve to have a big, full life and the freedom to enjoy it. So let’s design our next chapter together—for brilliance, not burnout. Each week, I’ll bring ideas, insight, and a fresh perspective to keep you growing into a life that feels as good as it looks. Brilliant Balance. Your life, your way. Now let’s get started.

This is episode 390 of the Brilliant Balance podcast, and we are entering week three of our Money Mindset series with a brand-new topic: Is it time to break through your income ceiling?

Who doesn’t want that, right? Who among us isn’t ready to break through whatever income ceiling we feel we’ve bumped up against? Today, we’re going to dig into that very topic and explore why you may have reached an income ceiling—and, more importantly, what you can do about it.

If you didn’t catch the first two episodes in this series, go back to episodes 388 and 389, titled Money Mindset Series Part 1 and Part 2. They provide a solid foundation before diving into this one.

Today, we’re talking about income. If you’ve ever asked yourself, “Have I maxed out my income potential?” or “Do I have upside?” this episode is for you.

I’m actually excited about this topic. I didn’t always feel that way—talking about money used to cause me a lot of anxiety. But now I’ve seen firsthand the freedom that comes when you believe you have control over your financial livelihood. I see it all the time in our Breakthrough program at Brilliant Balance. Women often enter with limiting beliefs about their income potential. And when they step through those thresholds—creatively pursuing opportunities that allow them to increase their income—it’s incredibly empowering to watch.

This kind of up-leveling has a carryover effect. There’s an extraordinary level of freedom that comes with believing you have power over your income.

Let’s talk about this because many people who don’t feel financially free start by thinking about reducing expenses. That may seem logical—“I don’t have enough money, so I’ll cut costs”—but it’s paradoxical. Shrinking your life to fit your income doesn’t bring in more money. It creates a constrictive energy.

You start seeing behaviors like buying things only on sale, aggressively using coupons, negotiating every purchase, or saying no to anything perceived as a luxury—like your daily coffee, dining out, or vacations. All of this tightens your life into a smaller container.

I’m far more excited about helping you grow your income than reducing your expenses. Growth taps into expansive, powerful, and optimistic energy. Let me be clear: There’s a place for both. You need a healthy balance. Regularly review your household and business expenses and eliminate what’s no longer valuable. But today, we’re focusing on the top line: the money you’re bringing in.

As we start this discussion, ask yourself: What would be possible if your income was higher than it is today? Would it offer greater security? More freedom with your time? The ability to give more generously? Peace of mind?

Let’s take the limits off your perception of what you can earn. You very likely have income upside—more than you think. So today, I’m sharing three strategies to help you grow your income. Think about which one—or ones—make the most sense for you.

Strategy #1: Negotiate Your Compensation

Women are far less likely to do this than men, and it can make a big difference. I can think of a time in my career when I did this well and benefited tremendously. It was uncomfortable at the time, but the long-term payoff was worth it. I also recall a time when I didn’t negotiate, and it had a lasting negative impact.

So ask yourself: Do you have resistance to negotiating compensation? Where does it come from?

Yes, it can be intimidating. You might not get a “yes.” But if you don’t ask, your odds are zero. Men initiate salary conversations four times more often than women—and they ask for 30% more. Just knowing that might give you a little courage.

Approach the conversation with grace and professionalism. Come prepared with why you deserve more. Understand that your employer may not be able or willing to meet your request. But you’re building a skill—and the dollars add up over time.

Pro tip: Don’t just focus on salary. Consider bonuses, benefits, and other compensation components. Sometimes those are easier for companies to offer than a direct salary bump.

Strategy #2: Reach for the Next Level

Many women give up on reaching the next level because they don’t think they can handle the complexity or expectations. But what if you could?

Start by looking for advancement within your current company. Maybe it’s time to apply for a promotion—manager to director, director to VP. Or maybe you need to look outside your company to leapfrog to that next level.

That Hewlett-Packard study? It found that women typically won’t apply for a job unless they meet 100% of the qualifications. Men apply if they meet just 60%. Women are taking themselves out of the race before it even begins.

So assess your potential. Not “have you done the job?” but “can you build the skills?” If you’re hypercritical of yourself, get an outside opinion. Others often see your capabilities more clearly than you do.

And remember: sometimes the same role in a different industry pays significantly more. For example, an IT director at a nonprofit will earn less than one at a high-growth startup. Understand compensation norms in your industry and explore where you could earn more for the same skills.

Strategy #3: Add a Secondary Income

Also known as a “side hustle.” We’re living in the gig economy, where more people are navigating their careers without a traditional full-time employer. Some build entire careers this way. Others keep a side hustle in addition to their main job.

The primary cost here is time. Be cautious not to overextend yourself. But this can be a great transition plan—from full-time employment to full-time entrepreneurship.

Start something small: consulting, offering a local service, direct sales, teaching from your expertise, or investing in a business. Side income opportunities are nearly limitless. Think: What are you good at that others would pay for?

You don’t need a massive income to make an impact. For example, earning just $500 a month from a side gig can allow you to fully fund an IRA every year. Over 30 years, with an average 7% return, that can grow to over $500,000.

Plus, a side hustle can be fun—like a paid hobby. If you love what you’re doing, that joy compounds.

Final Thoughts

To recap, if you’re ready to improve your life and make a bigger impact with more income, consider:

1. Negotiating your compensation

2. Reaching for the next level

3. Adding a side hustle

Pick one—or all three—and step into that expansive energy. See if it feels exciting to explore your possibilities.

Next time, we’ll talk about what to do with that extra income—where people get stuck and how to make smart decisions with it.

Thank you again for listening today. I love the feedback we’re getting on this series! DM me on Instagram @seeskolnicki if you have a comment or question about this episode or any others.

That’s all for today. Tune in next week for Part 4 of the Money Mindset series. And until then—let’s be brilliant.