Is your self esteem keeping you broke?. If you don’t believe you are worth a lot then your bank account balance will reflect that.
Is your opinion of yourself is wrapped up in what you have or don’t have? Many of us use money as a sense of validation. And money can interact with our self-esteem in a variety of ways.
At some point in your financial life you may have heard that if you don’t believe you can get more money then you won’t get it.
The reality is that our perception of ourselves, has a direct correlation with our net worth. In other words, net worth is affected by self-worth.
Develop your self esteem
According to Kate Northrup, author of Money: A Love Story, paying attention to your money is an act of self-care.
One example she gives is deciding not to buy a pair of shoes. You begin to see saving money as an act of nourishing yourself. In other words, you are worthy of keeping the money you make. On the flip side, if you avoid managing your money then it may be an issue of not thinking you’re worthy enough. Take emotional spenders as an example. To avoid dealing with uncomfortable emotions, they may decide to take out their feelings on their credit card and overspend.
Build your Confidence
Why are some people making way more money while others struggle? Those who have good self-esteem ask for more money, save more, invest and take risks. Like starting a business or buying real estate. They also know how to bounce back from pitfalls or debt a lot faster. When your self-worth is low it tends to be reflected in your bank balance.
So how do we build our self-esteem and confidence? It’s not as hard as it may seem. Remember, it’s you who determines your value, not those around you.
It’s easy to sit around complaining that things aren’t the way you had wanted or hoped. But there are always steps you can take to improve your circumstances. So identify what those steps are, and get to work! Even if you don’t succeed fully, you’ll have the confidence to know that you took things into your own hand. And you worked hard to pull yourself out of a rut.
Comparing Your Financial Situation to Others
Do you associate wealth with happiness, success, or virtue? It can be tempting to compare yourself to others, and put 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.
It’s important to value and appreciate your decisions, life choices, and personal achievements. Once you work on doing this, your self-esteem won’t be so swayed by money, and the lives of others.
So stop holding yourself back, and get to work! Don’t let your self esteem keep you broke. You’ll see your confidence show up in your bank account.