What If Your Income Is Connected to How You See Yourself?

Have you ever wondered why two equally talented people can have completely different financial lives? One asks for more. One keeps undercharging. One sees an opportunity and thinks, “Why not me?” The other thinks, “Maybe I'm not ready yet.” One feels comfortable being visible, negotiating, receiving and succeeding. The other may be incredibly capable — but somehow keeps playing small.

So what happens beneath the surface? Could the way we see ourselves influence the way we create money?

Psychological research suggests that there may be a meaningful connection.

It's Not Only About Self-Worth

When we talk about self-esteem, we often think about feeling lovable, worthy or good enough. But there is another important dimension:

Psychologists call this agency — our sense of competence, effectiveness and ability to influence what happens in our lives.

And this distinction matters. You can believe:

You can know that you are talented and still feel uncomfortable charging for your work. You can be deeply compassionate and generous while struggling to negotiate your own value.

Because worthiness and agency are not exactly the same thing.

What Does the Research Say?

Judge and Hurst (2007) studied whether people's deeper evaluations of themselves — known as core self-evaluations — were related to income later in life.

Their findings showed that core self-evaluations, together with factors such as family socioeconomic status and academic achievement, were associated with later income. Importantly, people with more positive core self-evaluations appeared better able to capitalize on the advantages and opportunities available to them.

Then comes another fascinating piece of research. Wojciszke and colleagues (2011) found that self-esteem is particularly influenced by agentic information — information connected to competence, effectiveness and achievement — rather than only by qualities such as warmth or kindness.

And suddenly, the connection to money becomes very interesting. Because earning money often requires agency.

• You have to ask.
• Choose.
• Negotiate.
• Create.
• Sell.
• Set boundaries.
• Be visible.
• Take risks.
• Receive.

And sometimes say:

Your Financial Identity

This is why I believe we need to look beyond the question “How can I make more money?” and ask:

• Do you believe your abilities have economic value?
• Can you ask for more without feeling guilty?
• Can you receive without immediately feeling that you owe something?
• Can you be successful without making yourself smaller?
• Can you allow your work to be well compensated?

Because sometimes the obstacle isn't a lack of knowledge. Sometimes the obstacle is an identity that quietly says: There's a quiet belief hiding inside: “People like me aren't meant to have more than this.” So I stay where it feels familiar — even when I'm capable of much more.

A Kabbalistic Perspective

Kabbalah offers another beautiful layer to this conversation through the relationship between Light (Or) and Vessel (Kli).

The Light can represent abundance, wisdom, fulfillment and possibility. The Vessel represents our capacity to receive, contain and express what becomes available to us.

This invites a different question. Not only: “Do I believe I deserve more?” But:

Psychology helps us understand the patterns. Kabbalah invites us to explore the deeper meaning behind them.

So Where Do You Begin?

Perhaps not with another financial strategy. Start with curiosity. Ask yourself:

• What do I believe people like me are allowed to earn?
• Where do I make myself smaller than I actually am?
• What opportunities do I already have but hesitate to use?
• What would I do differently if I truly trusted my own capability?

Your beliefs don't magically create your bank balance. But they can influence the choices you make. And choices repeated over time become patterns.

Perhaps financial transformation begins when you stop asking only: “How can I earn more?” and begin asking:

Because sometimes the first step toward changing your financial reality is not changing the number in your bank account.

Research Behind This Article

The psychological research above provides the scientific foundation for the discussion of self-evaluation, agency and economic outcomes. The Kabbalistic perspective is a spiritual interpretation and is not presented as a scientific conclusion derived from these studies.