Does money affect your self-worth and self-esteem? There is an interesting correlation between money and self-esteem. The legendary author Brian Tracy talks about a time when he bought life insurance. It gave his family $1m in cover placed on his life.
He says that right after that decision he started to feel differently about himself. He started to feel like he was worth $1m. His levels of self-worth and self-esteem shot through the roof!
Like it or not we live in a world where money is important. So what happens to your self esteem when you as struggling with money problems? Does money affect your self-worth and self-esteem?
Zero money, zero self esteem?
People living in poverty often experience low self-esteem. Being unable to afford food and other essentials can make people feel that they are failures.
So if your net worth is zero, or even in the negative territory this will affect you even if you think it won’t! It will affect how you see yourself, how confident you are, how you think, how you act.
If our mind sees proof of something it will believe it’s true. If it doesn’t then positive thinking and visualizations will not help you. Your mind needs to see the raw reality. The reality where you are wisely managing your money and investing it, and not just thinking about it.
When you start managing your money, it will motivate you to do more of it and your money tree will start to grow fast!
Your beliefs about money
Money. It is just a simple 5-letter word, but it has the power to elicit extreme human emotions. Guilt. Anger. Frustration. Joy. Happiness. Freedom. At its core, money is about power. Whether you have it or you’re working towards it, money is ever so often a source of limiting beliefs. To achieve financial freedom, we must learn to master money before it masters us.
I AM JUST NOT GOOD WITH MONEY.
Over 60% of people do not have a spending or investment plan. It’s hard to be good at something if you do not have a strategy to improve. To win, you have to know the rules of the game. Learn the best strategies for success from those who have already mastered it. Success leaves clues. People who succeed at the highest level are not lucky. They’re doing something differently than everyone else.
MONEY IS MADE TO BE SPENT.
Many people would struggle to come up with R2,000 in a crisis. Such as an unexpected medical bill, legal cost or home or car repair. So while you may think that money is made to be spent, this belief could leave you desperate in a crisis.
Comparing Your Financial Situation to Others
If you associate wealth with happiness, success, or virtue, then it can be tempting to compare yourself to friends, acquaintances, siblings, or other family members. Putting yourself down if you’re earning less than them.
When you compare yourself to others, this can get in the way of you realizing your potential. And expressing your very best qualities.
This is why it’s important to value and appreciate your decisions, life choices, and personal achievements in and of themselves. Once you work on doing this, your self-esteem won’t be so swayed by money and the lives of others. So does money affect your self-worth and self-esteem?