• Be Humble

    2 Minute Breakdown Vol 11

    Clayton M. Christensen is a professor of Business Administration at Harvard Business School. In 2010 he wrote an article, "How Will You Measure Your Life?" which is superb (definitely worth the read); Christensen discusses, among other things, the idea of being humble. He notes that a characteristic of humble people is they have high levels of self-esteem. 

    Specifically he notes humble people "know who they were, and they felt good about who they were." So, how can this idea of humility help you with your finances?

    For some of us money decisions are tied to self-esteem. For example, the last purchase you made, was it what you wanted or did you do it to impress someone else? Purchasing things, like houses, cars, clothes, etc. to impress others is a fast way to put yourself in financial trouble. It also may show that your self esteem is lacking.

    Instead, be comfortable with who you are and your financial position. When you're self-esteem is high, people's cheers, jeers, or accomplishments don't push or pull you to make bad money decisions. You may have financial limitations but no matter how much money you obtain, there are always financial limitations. That's why managing money properly is important. Money is a resource or tool and should be treated as such. Be content where you are and instead of telling yourself "I can't" say "not yet". Remember your self-esteem is not measured in objects!

    A tip is to figure out who you are. "Stuff" or "things" don't make you but your character does. How you give, spend, invest, and earn money will illustrate your character and your self-esteem. In short, be humble in your financial decisions by feeling good about who you are and not wrapping it in what you have.

    Picture Credit: YouVersion Bible

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