It's More Than Money: How to Overcome Feelings of Worthlessness and Achieve Wealth

Based on Chapter 6 of Moneyology

Do you ever feel like you're not good enough? Like no matter what you do, you're not worthy of success, happiness, or wealth? If so, you're not alone. Many women struggle with feelings of worthlessness, especially regarding money. But the good news is, it doesn't have to be this way.

In this segment of my book Moneyology, I talk about how our society is designed to make us feel worthless, with advertising campaigns telling us how we should feel, what we should buy, and even what we should look like. It's no wonder so many of us struggle with feelings of inadequacy, especially when it comes to our finances.

But here's the thing: it's not just our financial situation that can make us feel worthless. I share my experience of crashing to zero in my twenties and again in my early forties, feeling emotionally and financially drained and overwhelmed with unworthiness.

However, we have the power to change the narrative. We can draw a line in the sand and decide we won't let past experiences or negative beliefs control our future. We can determine that we are worthy of everything, including wealth.

Understanding that our ability to accumulate wealth is closely tied to our sense of worth is essential. When we feel unworthy, we may struggle to maintain or increase our income, which confirms our feelings of inadequacy, leading to a vicious cycle.

So, how do we break this cycle and start feeling worthy of wealth? Here are some tips to get started:

Recognize and Challenge Negative Beliefs:

In our society, it's easy to feel like we're not good enough or capable enough, especially regarding money. Negative beliefs about ourselves and our financial situation can hold us back and create a cycle of unworthiness. But it's important to recognize these beliefs for what they are: limiting beliefs. Then, challenge them and replace them with positive ones. For example, instead of believing you're bad with money, remind yourself of your financial successes and the steps you're taking to improve your situation.

By recognizing and challenging negative beliefs, you can start to build confidence and a sense of control over your finances.

Practice Self-Compassion - Be Kind To Yourself:

When it comes to money, it's easy to be hard on ourselves. We might feel guilty or ashamed of our financial situation or beat ourselves up for past mistakes. But practising self-compassion can help break the cycle of negative self-talk and build a more positive relationship with money.

To practice, self-compassion, start by acknowledging that everyone makes mistakes and that it's okay to make financial missteps. Remember that your financial situation does not define your worth and that you deserve love and compassion regardless of your net worth.

Be kind to yourself by speaking to yourself with positive, supportive language. For example, reframe it as a growth opportunity to learn more about personal finance instead of telling yourself that you're bad with money. And remember to celebrate your wins, no matter how small they may seem.

Finally, make time for self-care. Financial stress can affect our mental and emotional well-being, so it's important to prioritize self-care activities like exercise, meditation, or spending time with loved ones.

By practising self-compassion, we can shift our focus from feelings of unworthiness to a more positive and empowering relationship with money.

Take Action:

It's easy to feel overwhelmed and powerless when it comes to money, but taking action – even small steps – can help build confidence and a sense of control. Start by creating a budget, tracking your expenses, or setting a savings goal.

One of the most important things you can do to feel empowered about your financial situation is to take action. It's easy to feel like you don't have control over your finances, but taking small steps can help you regain that control and build confidence. Here are some actions you can take:

1. Create a budget: Start by tracking your income and expenses to get an accurate picture of where your money is going. Then, create a budget that aligns with your financial goals and priorities. Remember to be realistic and adjust as needed.
2. Track your expenses: Once you have a budget, track your expenses to ensure that you stick to your plan. Using a spreadsheet or a budgeting app can make this process easier.
3. Set a savings goal: A specific goal can help motivate you to take action and stay on track. Whether saving for a down payment on a house, an emergency fund, or a vacation, having a tangible goal can help you stay focused and motivated.
4. Automate your savings: One of the easiest ways to save money is to automate the process. Set up automatic transfers from your checking account to a savings or investment account. This way, you'll be saving money without even thinking about it.
5. Reduce your expenses: Look for ways to reduce your expenses, such as cutting back on eating out, shopping for deals on groceries, or negotiating bills. Even small changes can add up over time and help you save more money.

Taking action is key to building confidence and regaining control over your financial situation. Start with small steps and celebrate your progress along the way. With time and effort, you can achieve financial independence and the sense of worthiness that comes with it.

Surround Yourself with Positivity:

Surrounding yourself with positivity is crucial to achieving financial empowerment and a sense of worthiness. In addition, the people we surround ourselves with can significantly impact our beliefs and attitudes towards money and success.

Firstly, finding people who support and encourage our goals and beliefs is essential. These people can be our friends, family, colleagues, or financial advisors. By sharing our aspirations and challenges with these individuals, we can gain valuable insights and perspectives to help us make informed financial decisions.

Secondly, it's helpful to seek out communities of like-minded individuals who share our values and goals. These communities can be found online, through social media groups, or through local meetups. By interacting with individuals on a similar financial journey, we can gain a sense of belonging and support that can help us overcome challenges and stay motivated.

Thirdly, reading books and articles on personal finance and wealth creation that provide a positive and empowering perspective is beneficial. These resources can offer practical tips and advice on managing money, investing, and building wealth, as well as stories of individuals who have overcome financial challenges and achieved financial success.

Lastly, we must surround ourselves with positive affirmations reinforcing our sense of worthiness and financial empowerment. These can be in the form of motivational quotes, affirmations, or even vision boards that depict our financial goals and aspirations. We can stay motivated and focused on our financial journey by consistently exposing ourselves to positive messaging and reinforcing our beliefs in our abilities to achieve financial success. 

Remember, your net worth does not define your self-worth. You are worthy of success, happiness, and wealth, and it's within your power to achieve it. So don't let negative beliefs or past experiences hold you back. Instead, draw that line in the sand, and start building a future where you feel worthy and empowered.

You can further explore this topic in my book - Moneyology, which is available directly from the Financial Fitness Club or via Amazon and other online bookstores.