• Sherry Ellingson

Money and Self Esteem?

Money is an energetic exchange, and yet it causes so many issues in all societies.

We are taught that the more, more, and more we have it equals to feeling good about ourselves. Yet so many don't feel like they have enough.

What I'm actually here to talk about is how can people increase their worth in business and work in relation to money. All people can have issues with money in relation to self worth.

In my experience having worked with business owners, people in management in both private and public sectors and other careers there's always the feeling of not having enough. Which comes from comparing to others and resulting in not feeling good about yourself. An example of this would be not being happy for your friend because she/he just got a new fill in the blank.

I love the book "The Latte Factor" by David Bach. It's a story of a young woman who works in New York. She doesn't have a savings and lives paycheck to paycheck. She buys coffee every day, buys lunch (while her boss brown bags it to work) and she has no idea where her money goes. In the meantime she wants to travel and wants to buy this painting at the coffee shop she visits. All the while thinking how she can't afford either one. I don't want to give the story away, but I highly suggest reading it.


Here's what I recommend for getting a handle on your finances:


First:3 types of savings:


1-short term (broken car, hanging out with friends, house repairs, etc.)

2-long term savings (your fun savings to travel, take classes, college fund for your kids, buy a condo, etc.). You can look in to accounts that pay more in percentage but you can't withdraw for a certain amount of time.

3- Retirement-If your company has one make sure to contribute to it. If you have a your own business there are plenty of financial advisers to help you invest for long term.


Now this is my favorite exercise:

1-Figure out what success means to you. Not what your parents, society, or culture think.

Make a list and for each one have a reason and how it will make you happy.

You may get an image or a feeling as you work on your list. Notice how your body reacts,

you are looking for expansion vs. restriction.


2-Make a monthly budget list. Work backwards: if you are job searching/ starting a business figure out your needs so you know what to look for. This can be a wish budget list if you are job searching.


Include the following ( you may have other items on your list):

A-Monthly expenses: including rent/mortgage, utilities, property taxes, groceries, fun budget, clothing, car, gas, transportation, pet expenses, gym membership, health insurance, quarterly taxes, therapy, life coach, massage,accupuncture ,etc.

B- Budget for: savings (the tree types).


3- Plan how you can use your monthly budget. Where can you cut costs that doesn't make you feel like you are trapped. In addition how can you make more money? Do you love your job and feel like it's your destiny? What kind of side gig will help you pay the bills? In her book "Big Magic" by Elizabeth Gilbert, she talks about the random jobs she held while trying to get published.


While things may or may not bring you happiness, knowing where your money goes and comes from is important.


Sherry Ellingson

sherryellingson.com



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