Net Worth vs. Self-Worth


by Brandon Steiner December 01, 2016 0 Comments

When the economy was really down a few years ago, when there ere so many layoffs and foreclosures, and so much semi-employment, a lot of people ended up feeling down about themselves because they start mixing up their net worth with their self-worth.

"Net worth," for an individual, is defined as the value of all assets (long term assets) minus the value of all liabilities.

"Self-worth" is defined as the sense of one's own value or worth as a person; self-esteem; self-respect.

It's easy to say that your self-worth should not be based on your net worth, but I don't believe that's realistic.

For one, it's easier to measure your net worth.  Secondly, most of us tend to put more stock in tangible things rather than intangible things.

I’m not going to say that both net worth and self-worth shouldn’t accompany one another.  For instance, if you're a parent, your ability to provide for your kids is obviously going to affect how you feel about yourself.

And let's face it - if you cannot provide for yourself, that incompetency will impinge on your self-esteem as well.

What I'd like you to do however is to simply remember that your net worth doesn't define your self-worth; and that there's so much more to your self-worth than your financial assets. There always will be.

Your self-worth is mainly about the love you give out and receive, the kindness with which you treat people, the integrity with which you behave, the dignity with which you carry yourself, and all the other intangibles that make up your heart and your character.

Even when I was poor growing up, I had a high sense of self-worth; I definitely think that helped me build my career because I felt I deserved to be successful. That feeling helped fuel my ambition.

If you're feeling down due to some negative fluctuation in your net worth, that's okay; but only for a little while.

Eventually, you’ll need to realize the other ingredients that go into your self-worth are weighted much more heavily in the long run.

The bottom line in life is that when you do good, you feel good. When you do bad you feel bad. That's how self-worth is measured.

What about you?

Are you measuring your self-worth by your bank statements –or by how you carry yourself, and how you feel inside?

 




Brandon Steiner
Brandon Steiner

Author

Brandon Steiner is the founder and chairman of Steiner Sports Marketing and Memorabilia, the largest company of its kind in America. Considered a sports marketing guru, Brandon is a permanent fixture in the media as a regular on ESPN NY Radio 98.7 FM and as host of "The Hook-Up with Brandon Steiner" on YES Network. He has appeared frequently on CNBC, CNN, MSNBC, ESPN, and in newspapers including the New York Times and the Wall Street Journal. The author of The Business Playbook: Leadership Lessons from the World of Sports and You Gotta Have Balls: How a Kid from Brooklyn Started From Scratch, Bought Yankee Stadium, and Created a Sports Empire, Brandon lives in Scarsdale, New York, with his wife, Mara and children Crosby and Nicole.




Also in "What Else?" Blog

The Easiest $5 I Ever Made
The Easiest $5 I Ever Made

by Brandon Steiner June 23, 2017 0 Comments

Here's a valuable lesson about the easiest $5 I ever made.

Read More

It's Time To Get Your Sh*t Together
It's Time To Get Your Sh*t Together

by Brandon Steiner June 21, 2017 0 Comments

On the most recent episode of my podcast, Unplugged with Brandon Steiner, I spoke with best selling author Sarah Knight on her new book Get Your Sh*t Together.

Read More

1 View Can Change Everything
1 View Can Change Everything

by Brandon Steiner June 19, 2017 0 Comments

You never know how something you write is going to resonate with someone that may be interested in starting or furthering their business with you.

Read More