How Your Net Worth Is Affected By Self-worth

How do you feel about money?

Is it something that’s “hard-earned” but easy to spend?

Do you believe you’ll be wealthy, or is wealth something for lucky people?

Studies have shown that you can grow your net worth even if you earn an average salary. And the big difference between those who are relatively wealthy and those who are just getting by is something that’s well within your control: self-esteem.


How do you develop your self-esteem?

Granted, self-esteem is something that’s bolstered (or depleted) over many years. That’s where self-improvement comes in; working on the following can lead to big changes in your own self-worth:

  • Accept compliments instead of brushing them off
  • Name one thing you are grateful for about yourself each day
  • List the ways you give value into the world regardless of whether it’s work-related or personal
  • Start becoming more assertive

Some of these steps — like being assertive and asking for a raise — can have a direct impact on your bottom line. But even these others create intangible changes in how you manage your money. Don’t be surprised if you actually start taking better care of your finances.


  1. Rich people have high self-esteem

One thing wealthy people have in common is that they don’t worry too much about whether they deserve their money or not. They have a healthy sense of self-worth, they believe in themselves, and they expect to make money easily.


You can grow your self-esteem right now by changing your attitude towards yourself.

  • Accept compliments, don’t bat them away.
  • Think of all the good things you contribute to the world.
  • Start your gratitude practice by thinking about something you’re proud of about yourself.
  • Step into your light and assert your worth.


  1. Just do it

Learn to feel the fear and do it anyway.  Know your money fears or blocks and push through them to get ahead. Not many people enjoy asking for a pay rise or negotiating a better contract. But if you don’t do those things that make you feel uncomfortable, you start to believe that you can’t, and your self-worth plummets.


The nice thing about being brave and taking a risk is that every time that risks pay off, you get a boost to your self-esteem and it won’t be so hard next time. And when it comes to money, your bank balance and your self-worth can grow in tandem!


  1. Redefine self-care

Do you buy yourself a treat when you’re feeling a bit low? Anything from a coffee and doughnut to a new pair of shoes can give you a boost. That sort of retail therapy might give your self-esteem a short-term lift, but it does nothing for your credit card. Defining self-care in terms of buying stuff can become an unhealthy way to feel good.

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 because 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. In order to avoid dealing with uncomfortable emotions, they may decide to take out their feelings on their credit card and overspend.

The key here is to start seeing yourself as a long term investment. You overcome laziness and workout because you know exercise is an investment in your long-term health; managing your money is no different.

Furthermore, you cannot take care of others if you do not take care of yourself. Taking care of yourself financially is one of the many ways to ensure you’re okay so you can be there for others — whether it’s taking care of your family, being there for clients or giving to your favorite charities.

A better long-term option is to redefine self-care to include being financially responsible. Instead of indulging in emotional spending, learn to take a step back before you hand over your credit card. Will you feel better at the end of the month with a new set of golf clubs, or with enough money not just to pay the bills but to invest?


Reprogram your mindset to see yourself as a worthwhile long-term investment.


Leave a Reply