Can lack of money cause low self-esteem? Understand the relationship!

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Can lack of money cause low self-esteem?  Understand the relationship!

Table of Contents

Money doesn't buy happiness. This phrase is seen, read and heard in different media, constantly reminding us that the accumulation of patrimony, by itself, does not bring happiness.

But there is the other side of the issue: after all, lack of money can cause low self-esteem?

As we know, this emotional imbalance can cause other psychological and physical problems, even, such as unhappiness, accumulated stress and its consequent symptoms, and also insecurity to improve the current financial situation.

So, let's see how the lack of money can cause low self-esteem, that way you will have no problems with your new achievements and, personally, you can recover the willingness to map your happiness – which is not 100% associated with money, as we will see? Check below based on the following topics covered:

  • Can lack of money cause low self-esteem ?;
  • What are the causes for the lack of money ?;
  • Why develop good personal planning ?;
  • Have goals;
  • Settle the accounts;
  • Learn more about investments;
  • How to develop personally?
  • Understand more about yourself;
  • Go back to your family history;
  • Find out more about your emotional well-being.

Good reading!

Can lack of money cause low self-esteem?

O financial well-being has been constantly associated with an improved quality of life. After all, debts and lack of financial planning coincide with turbulent and uncertain uncertainties, such as:

  • fear of not paying all the bills for the month;
  • having to apply for new costly loans;
  • see short money for emergency purchases or even for groceries.

The worst is that, when these situations become recurrent, it is not only the pocket and the standard of family life that are affected, but the psychological and emotional state of those involved.

So, yes, the lack of money can cause low self-esteem.

What is the relationship between lack of money and self-esteem?

Any emotional shock can have consequences – including physical ones – that negatively impact our daily lives.

For example: stress leaves us with fatigue, angry and impatient. Anxiety and depression, other and increasingly popular psychological disorders, take away motivation, willingness and also concentration to perform tasks.

Low self-esteem is no different, even more, because it contributes to making us feel more insecure, with shaken confidence and unwillingness (physical and emotional) to take care of problems.

The result of this, among others, is that we tend to leave financial balance in the background. In the face of a financial crisis, we are more uncomfortable and – in a contrasting parallel – unwilling to reverse the accumulated debt situation.

We just cannot confuse that self-esteem is the solution for get out of debt. On the contrary: this disorder is a symptom that makes it difficult to take action to reverse the situation. And that will be even clearer based on the topic below.

What are the causes for the lack of money?

It is true that a salary below the standard of living or abusive market practices can make it difficult to accumulate wealth, but the lack of money has a lot to do with our relationship with him.

Even so, family financial planning is so important – to know more about it, see our full post about it! Through it, it is possible to evaluate the monthly income and compare it with the overhead expenses of the house to then be able to determine goals in the short, medium and long term.

Consequently, we learn to save with these financial goals in mind. It is no wonder that the absence of strategic care for your money can quickly convert into debt.

And it is worth emphasizing that the lack of money can cause low self-esteem when we are already in a situation of fear and / or insecurity on a daily basis. Then, even with planning, it can be difficult to change the situation, considering that the disposition for such a task will be continually less.

Even more so when we discount these emotional disorders with expenses. There are those who take it out on a riot. Others, on impulse purchases in shopping malls. With an already impaired financial life, these exhaust valves are of no help in solving the problem with debts.

Why develop good personal planning?

Lack of money can cause low self-esteem and, in turn, worsen indebtedness.

It is a relationship that goes in both directions. Therefore, it is worth working to ensure that both your financial health and your emotional well-being are up to date. And let's start by defining a healthier relationship with your monthly budget!

Have goals

We talked about this earlier. It is about composing a goal (whatever it may be and regardless of the stipulated time frame for achieving it) so that you can start taking better care of your finances.

Goals are good ways to get your bearings. Even with low self-esteem, they can serve as a stimulus to try harder until that first goal is reached. Then plan a new one and so on.

It is even worthwhile to meet with the family for this. Goals that impact everyone are better because collaborative unity can be instrumental in changing the situation quickly. Especially, for those who have been suffering from low self-esteem caused by lack of money and can count on the support and help of family members.

Adjust the accounts

Take a deep breath and collect the statements and expenses of the last months – from three to six months. Through them, identify expenses and compare with your budget. Then, set a cost cap for:

  • fixed bills, such as rent and electricity and water bills;
  • variable bills, such as meals away from home and travel.

This segmentation helps to maintain a ceiling on expenses, making planning occur more naturally and with less unforeseen events and obstacles along the way.

Learn more about investments

Remember that the lack of money can cause low self-esteem, but that unrestrained consumption does not improve the situation at all. So, in addition to the previous tip, check if it is possible to direct some amount – however small – in investments.

This will help to build a solid family equity. And don't think that investing is difficult, inaccessible or just for those who have a lot of money saved.

To prove how much this is just a myth of the financial market, take the time to read our content where we list the 7 best investment options in the Brasil!

How to develop yourself?

In a complementary manner, emotional upheavals must be dealt with equally. This is because, once the debts have been settled, some aspects of psychological disorders may persist. For, as we pointed out at the beginning of the article, money does not buy happiness.

So, it is up to you to analyze the aspects of your life that can contribute so that these problems do not install themselves in your unconscious and in conscious actions. To balance your emotional side, are we going to see some tips that usually yield good results?

Understand more about yourself

Reflect on who you are, what matters in your life and what are your strengths and improvement. Taking care of mental health is important to then attend to the basic care of your financial health.

Reassemble your family history

Go back a few years and remember your family relationship and also their relationship with money. Identify which harmful habits have been “inherited” by you and start changing them to ensure a more prosperous future and free from these financial vices that do not generate anything positive in your life.

Find out more about your emotional well-being

Talk to friends and relatives. Lean on those who want to help. The best part of knowing that a lack of money can cause low self-esteem is that the emotional support is endless.

Surround yourself with those who want your good and work with the help of these people to change your posture, attitude and thoughts. And, especially, of life abandoning debts altogether to focus on a more prosperous and richer future – in every way.

Now, we would like to hear your opinion. If you have any experience where lack of money has caused you low self-esteem, share with us what were the challenges you overcame. That way, more people can be inspired to transform their lives!

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