donation
To request Mental Health
Services or to access Mental
Health Crisis Services Call:
1-800-375-4357

Wellness and Personal Development
Resources
Basic InformationLatest News
Working Off Your Quarantine Weight GainAs REM Sleep Declines, Life Span SuffersFollow Exercise Guidelines and You'll Live Longer, Study SaysBiases Mean Men Dubbed 'Brilliant' More Often Than WomenFireworks Are Bad News for Your LungsPandemic Means More Backyard Fireworks This Year -- And More DangerA Safer 4th Is One Without Backyard FireworksWhen Can Sports Fans Safely Fill Stadiums Again?AHA News: How to Stay Safe, Healthy and Cool This Summer Despite COVID-19 ThreatWhat Behaviors Will Shorten Your Life?Heat Kills More Americans Than Previously ThoughtDespite Predictions, Loneliness Not Rising for Americans Under LockdownDon't Be a 'Hot-Head': Study Suggests Head Overheating Impairs ThinkingWhy Exercise? Researchers Say It Prevents 3.9 Million Deaths a YearWorking From Home? Posture, Ergonomics Can Make It SafeWant to Travel During the Pandemic? Here's What to ConsiderHealthier Meals Could Mean Fewer Strokes, Heart AttacksWhat Difference Do Calorie Counts on Menus Make?Want Added Years? Try VolunteeringEating Before Bedtime Might Pack on the PoundsAmid Pandemic, Protest Peacefully While Staying HealthyHow to Get Better Sleep While Working at HomeIn a Pandemic-Stressed America, Protests Add to Mental StrainHealth Warning Labels Could Cut Soda SalesProtect Yourself From Sun to Prevent Skin CancerAs a Nation's Worth Grows, So Do WaistlinesBike-Sharing Gets Commuters Out of Cars: StudyBanishing Pandemic Worries for a Good Night's SleepAs Summer Starts, Sun Safety Slashes Skin Cancer RiskDuring the Pandemic, How Safe Is the Great American Summer Vacation?AHA News: A Silver Lining for Foster, Adopted Pets – and Their People – During Coronavirus PandemicEven One High-Fat Meal May Dull Your MindDon't Let the Coronavirus Pandemic Rob You of Your SleepMore Trees, Parks May Mean Longer Lives for City DwellersReckless Driving on the Rise During COVID-19 PandemicTips to Keeping Slim When You're Stuck at HomeMoney Not a Good Measure of Your Self-WorthWhich Foods Might Reduce Your Odds for Dementia?Ride-Sharing Services Tied to Rise in Car CrashesAmericans Got the Memo on Social Distancing, Poll ShowsA Consistent Bedtime Is Good for Your HeartAHA News: Eat Healthy, Move Your Body During Pandemic'Stress Eating' While Social Distancing? Here's Tips to Avoid ItStaying at Home During the Pandemic? Use Technology to Stay ConnectedIndoor Athletes Often Lacking in Vitamin DHow Many Steps Per Day to Lengthen Your Life?Can You Buy Happiness? Yes, Study Suggests, If You Spend on ExperiencesAHA News: Coronavirus News on Social Media Stressing You Out? Here's How to Handle the AnxietyDon't Abandon Healthy Eating During Coronavirus PandemicAHA News: 'Be Happy' Isn't So Simple, Especially Amid Coronavirus Worries – But It's Seriously Good for Health
LinksBook Reviews
Related Topics

Smoking
Anger Management
Stress Reduction and Management
Weight Loss

Money Not a Good Measure of Your Self-Worth

HealthDay News
by -- Steven Reinberg
Updated: Apr 14th 2020

new article illustration

TUESDAY, April 14, 2020 (HealthDay News) -- When the Beatles sang that "money can't buy me love," they were right, researchers say.

"When people base their self-worth on financial success, they experience feelings of pressure and a lack of autonomy, which are associated with negative social outcomes," said researcher Lora Park, an associate professor of psychology at University at Buffalo, in New York.

These feelings end up costing time with family and loved ones that lead to feeling lonely and disconnected, the researchers said.

Having social networks and personal relationships are essential for good mental health, which is why people should keep these connections, even when they are pursuing financial success, the study authors explained.

"Depression and anxiety are tied to isolation, and we're certainly seeing this now with the difficulties we have connecting with friends during the COVID-19 pandemic," said University at Buffalo graduate student and researcher Deborah Ward.

"These social connections are important. We need them as humans in order to feel secure, to feel mentally healthy and happy," Ward said in a university news release. "But much of what's required to achieve success in the financial domain comes at the expense of spending time with family and friends."

At the heart of the research is an idea psychologists call "financial contingency of self-worth."

Basically, when you see your self-worth as contingent on money, you view financial success as the core of who you are as a person.

For the new study, the researchers looked at five previously published studies that included more than 2,500 people. Each study looked for connections between money and self-worth and time with others, loneliness and social disconnection.

"We saw consistent associations between valuing money in terms of who you are and experiencing negative social outcomes in previous work, so this led us to ask the question of why these associations are present," Ward said.

"We see these findings as further evidence that people who base their self-worth on money are likely to feel pressured to achieve financial success, which is tied to the quality of their relationships with others," she added.

The report was published April 9 in the journal Personality and Social Psychology Bulletin.

More information

For more on self-esteem, head to the National Alliance on Mental Illness.