Financial Self Esteem

When financial planner and motivational speaker Suze Orman talks, people listen. Orman says we all need to get our financial priorities straight. "The correct order is people, money and things. You have to care about yourself and others [first]. And you can't go from people to things; you need the money. You can't jump a chasm in two leaps. And that's exactly what we tried to do and look what happened."

Time and again, clients have come to me with financial worries, and inevitably the order of their priorities is reversed; they are surrounded with things. Things they don’t need, don’t use, and sometimes aren’t even that fond of. They end up with a lot of things in their house and in their life, instead of a lot of money in their bank accounts. At some point they’ve decided to value quantities of things over quantities of cash, leaving last on the list; people.

But here is where it gets tricky, when we truly value people, we must start with valuing ourselves. If we sincerely valued ourselves above all else, would we really feel the need for the things? If we honored ourselves and our money, would we have the courage to forgo the new jewelry, trinkets or clothing, while paying off credit card debt? Or to drive an older car to take care of our retirement and long term financial health? If we had impeccable self-esteem, could we easily take care of ourselves and our money first, and then go for the things?

As with everything in life it’s a cyclical process; the more we take care of ourselves, the more it raises our self-esteem. And the more self-esteem we possess, the more we are inclined to care for ourselves. So what can you do this week to care for yourself and raise your financial self-esteem?

My challenge to you is…. to pick one small step, something you can do every day for at least a week to take care of yourself and your money. (letting go of things) Could you….
- stop impulse purchasing for two weeks?
- give yourself the rest you need instead of the evening out you don’t
- clean up any old financial issues – bills, paperwork, taxes
- spend 5 minutes a day reviewing your finances – even the parts you’d rather not look at
- get clear on your fixed and variable expenses, and create a savings plan or a “fun account” for more a little cushion in the future

The correlation between debt and self esteem is not a new one. When our personal reserves are depleted, the finances are quick to follow. So this week, take really good care of yourself, and your money. It not only feels good, but the benefits are immediate, tangible and lasting.

Until next time, wishing you mountains of money, loads of love, and soaring self-esteem!

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