Money Matters: A Glimpse through Maslow's Lens

Generational Wealth Begins With Generational Knowledge™

Let’s get candid regarding our conversations related to money. For some, the mere thought evokes anxiety like an imminent dentist visit – you know what I am talking about - the root canal you look forward to. However, fear not; I will tackle this topic with sensitivity and respect – I mean, who looks forward to a root canal? So, the question begs, when money comes to mind, does your financial anxiety about paying bills overshadow that luxury purchase you’ve been saving for? In my consultations, we often dance around this theme - balancing today’s cravings with the wants of our tomorrow. So, taking a page from the legendary Hall of Fame basketball coach John Wooden: "Failure To Plan Is Planning To Fail." Therefore, this blog will fuse Abraham Maslow's renowned Five Hierarchy of Needs model, encapsulating his theory to create a GPS for success, directing you to a more prosperous financial life. So, can Maslow's iconic Five Hierarchies of Needs model be the northern star of your financial journey? From my viewpoint, absolutely!

Taking a deeper look at Maslow’s iconic pyramid, we're prompted that the basics such as food, love, and shelter - take center stage in your innate needs. However, given our lives' dynamic fabric, these foundational requirements occasionally shift, twist, and turn. Although, safety may not have been referenced as an innate need initially. Today, safety may be in strong consideration as an introductory need. Therefore, I will slightly adjust and suggest that we declare safety as a created innate need that can readily be embraced in the foundational prerequisites initially theorized by Abraham Maslow.

Furthermore, Maslow's five hierarchies of needs painted a broad picture and defined look; conversely, as we navigate towards a more contemporary environment, today’s life's intricate elements require us to step out of strictly narrow boxes, moving from a one-size-fits-all model to a more organic more suited in today's climate. As I've previously stated in my blog, "Reimagining Financial Literacy through Education and Purpose," whether it’s the ebb and flow of our careers, unexpected and unscripted events, or personal changes, life in the now is our best instructor. Beyond just safeguarding ourselves – it's about molding our finances with an eye to the future. A Holistic approach versus a mechanistic view is more warranted today than ever before; for that reason, always aim high but anchor those lofty goals in the tangible world. Herein lies the graceful dance between dream and reality.

Next, we dive into the more wants or discretionary-driven layers of Maslow's framework, entering the effervescent world of unrestricted income. This is where our internal deliberations often reverberate: The indispensable needs versus the enchanting wants. This is where stages three and four of Maslow's Model come into play. Social and Self-esteem are critical in respect to your wants. Listen, we spend our money on our social environment, hanging with friends at happy hour on Friday night, or purchasing tickets for a movie concert or play. These wants are essential to social interaction and enjoying life. Occasionally, we may even stay in and order DoorDash and catch a Netflix movie with friends or solo, all of which are important in the pantheon of life, and we cannot overlook those behaviors. In addition, our self-esteem is equally as important. Buying that perfect outfit, a spa day, a salon day, a haircut and facial, or just splurging on yourself. We all care and consciously try to keep up with our self-esteem, so we spend our money to do so. Circumnavigating these spaces is the essence of financial understanding. Sure, binge on your social and self-esteem areas, but in doing so, embrace the art of intentional indulgence. Acknowledging these moments of joy without rocking your financial boat requires a dash of control and an abundance of comprehension. It's not just about what's in the bank; it's about the familiarities and dreams those numbers can unlock. So, map your course, set sail, and enjoy every twist and turn!

Close your eyes and picture this: an unlimited landscape with desires stretching as far as you can dream. This, ladies and gentlemen, is where Maslow's vision culminates - the realm of self-actualization the top of the pyramid. Here, financial restrictions display distortion, and dreams take flight. It's a world abounding with appetite, probabilities, and potential. Financial acumen is the gust beneath your wings, forcefully pushing you to remote realms. Be it a bourgeoning business idea, a soul-nourishing hobby, or a cause that tugs at your heartstrings, with an underpinning of financial understanding, there's no looking down. The horizon? Well, it's just your starting line.

Blending the timeless insights of Maslow with modern-day financial strategies crafts a blueprint for a life abundant in both tangible wealth and intangible fulfillment. As we navigate this enlightened era of holistic financial astuteness, remember that it’s less about the size of our resources than the wisdom of our proficiencies and focus. Join me in this riveting journey towards reimagining financial literacy through education and purpose!