Redefining Wealth: Why Self-Worth Should be the New Currency

As someone who is all about parenting, how we teach our children to measure personal success is very important to me. Our society considers someone successful by how wealthy they are in the form of their money, property, and investments. However this very narrow measure of success is problematic and leads people to compromise their well-being while they chase what will give them societal status, but not necessarily happiness. There are other forms of success that are equally if not more valuable.


Self-worth is how we value ourselves based on our own special blend of strengths, qualities, and experiences. It includes our sense of purpose, identity, and belonging and it is pivotal to our well-being. Someone can have money but very little self-worth. This is quite common with people who inherited their money and sometimes feel they have done nothing to earn it. Lack of self-worth can lead people to self-destructive behaviours, whereas people with good self-worth ultimately contribute to their society.


Unlike monetary wealth, self-worth does not fluctuate with market conditions and it is not externally determined. Self-worth, therefore, is in your control. It starts if you are lucky by having parents that nurture your sense of self. Then, by you learning to have meaningful relationships, then cultivating it through self-reflection and personal growth. People think nothing of investing in stocks and shares that fluctuate but sometimes baulk at the investment required for personal development that helps to build a sense of inner wealth that makes us resilient to deal with life’s challenges.


Social wealth is another type of worth that is overlooked. This refers to connections, networks, and relationships that we have with others. It includes our friendships, family, and community involvement. This contributes to a sense of belonging which is important to emotional well-being. That sense of wealth in knowing that no matter what happens, someone has got your back. There are people with huge financial wealth that are lonely and in some cases have died alone. This begs the question of why society insists on putting such importance on just financial wealth rather than a well-rounded rich life.


Financial wealth will definitely buy us luxuries and conveniences but they are of no use if you are sick and have no friends or close personal relationships to share your luxuries with. Studies have shown that people who have strong social networks and social support are happier and healthier than those who do not. Therefore, it is important to cultivate our social wealth by investing in our relationships and engaging with our communities.


In addition to self-worth and social wealth, there are many other forms of wealth that are equally important but often overlooked. These include intellectual wealth

(our knowledge, skills, and education), spiritual wealth (our sense of purpose and connection to something greater than ourselves), and physical wealth (our health and well-being).


Physical wealth is really what society should get fixated on if we indeed should get one-dimensional about wealth. Many spiritual traditions accept that your health is your wealth. All wealth should start with your health because if you don’t have health what use is anything else?


We need to expand our definition of wealth to encompass these different forms, to create a more holistic and balanced approach to personal success and fulfillment. Instead of measuring our worth solely in terms of financial assets, we can recognize the value of other aspects of our lives that contribute to our overall well-being and happiness.


Don’t get me wrong, money is important. However, we should not allow our pursuit of it to overshadow other forms of wealth that are equally, if not more, important. By valuing ourselves, our relationships, and our personal growth, we can create a more fulfilling and meaningful life. 


Wouldn’t it be nice if the next ‘Sunday Times Rich List’ was a holistic one, measured by the impact these people have had on the world around them rather than what they have?

If you’re a working mother and you also think we should place a higher value on self-worth, grab a chat with me here. If you want to hear more from me, you might be interested in my FREE masterclass – register here to watch anytime.