101: How to Increase Your Net Worth by Increasing Your Self Worth

What I never see talked about in financial education is that if you want to increase your net worth you have to increase your self-worth.  You don't have to be an out there extrovert but having confidence and standing in your value are required if you want to create success and big things in your life.

In this Money Mindful podcast episode, you will learn:

  • What believing in yourself looks like and how to do it
  • How to reconnect with your value
  • How to stand in your greatness
  • Two impactful questions to reveal your value and increase your belief in your self-worth
  • An exercise to super charge your belief in your value

You can listen to the episode above or read the unedited transcript below.


How To Increase Your Net Worth By Increasing Your Self-Worth



Meaghan Smith

Meaghan Smith  00:19

Hello, beautiful human. Welcome to the Money Mindful Podcast. I am your host, Meaghan Jean Smith. I'm a money mindset and life coach for women. I help women create the lives they want, make the money that they want, and just do all the things that they haven't been doing because they've been placing limitations on themselves. That's what I help women do. I'm so excited to have you here. Welcome to the show. Hello to you in Toronto, and in Wellington, in New Zealand. Hello in Portland, and Brooklyn, in the US. Hello to all of you in Sydney and Brisbane. Hello, to you listening in Japan and the Netherlands and Costa Rica. Hi to you listening in Dubai, and Germany and the Philippines. I'm not going to read out every single place that you guys listen to, but I was just having a flick through where you all tune in from, from around the world. And I've just got to say, it totally blows my mind that right now there's someone listening in Japan, like what is happening! So excited, I'm so excited to get into your ears. And I'm really grateful too that you trust me, that you're here with me, from all around the world, like so many of you, I will probably never meet. But I'm able to help you anyway, and you're trusting me to help you. And I really just love that so much, and I'm really grateful to have that connection with you. So, welcome. I'm glad you're here.


Meaghan Smith  02:12

I've got a really cool episode lined up for you today. I want to talk to you about how to increase your net worth by increasing your self worth, okay, we're going to be talking a lot about value. Because whatever you do in life, like whether it's building a business, or whether you're wanting to get a promotion at work, whether you're wanting to do something new, like venture out, invest in properties, say, like you want to become a property investor, you want to do something different that you've never done before. Confidence and standing in your value is something that you need, it's a tool in your toolbox that you need to create the life that you want. And if you don't have confidence, and you don't stand in your value, that's okay, because it's a learnable skill.


Meaghan Smith  03:18

But I'm here to tell you that you do need that if you want to move forward and be really successful in your life. And when I say 'successful', I'm saying it in quotation marks because whatever success looks like to you, right, but standing in your value and being confident in what you do, knowing your worth, your self worth, you need that. You need that to create the life that you want. And that's kind of like one of those funny Catch-22 sayings I guess, like saying standing in your self worth, because personally I already believe that you are worthy, you're 100% worthy no matter what, right? Like you're just born worthy. You don't earn self worth, like you are worthy just as you are. But if you're anything like me, we forget that right? and we're not connected to our own self worth.


Meaghan Smith  04:25

And that reflects in what we do, right? Like how we show up in our business, how we show up in our workplace, just how we operate in general. Even though when we're at work, if you work in the workplace, you're not selling yourself, like whatever it is that you're doing at work, your job. And also if you're running a business, even if you're a service provider, like I am, I'm not selling myself, I'm selling a service, right? But the way that I show up, and the way that I deliver that service has a lot to do with my beliefs in myself, and my personal value, my self worth, and how I think about myself. And I see this so often just in my own life, but also with my clients, where it's such a barrier to us moving forward, the ideas and the beliefs that we have about ourselves. And I mean, you see it in, you know, those really inspirational speeches, you know, at the Oscars and things like that, where you see the actor get their award, and they're like, I just believed in myself, you just have to believe in yourself, which I think is 100% true.


Meaghan Smith  05:47

But if you don't believe in yourself right now, it's like, oh, how the heck do I do that? What steps do I take to believe in myself? So I want this episode to be about that, I want to give you some practical tips and tools, well, an exercise really - I want to give you a practical exercise you can do to put you in the right direction, to harness your self worth, reconnect you with your value. You already are valuable. But we forget, right, and we're not connected to that value. And we don't stand in our value and embody our confidence. And so that's what I want to do today, I want to teach you an exercise that you can do that will put you in that direction, okay? Get you refocusing on your value.


Meaghan Smith  06:52

So to clarify, I'm not going to teach you how to increase your self worth in the sense that you're not worthy already, because you are, I want to teach you to increase your belief in your self worth, okay, so you believe in your worth. Because when it comes to things like pricing your offer, for example, if you've got a business, or asking for a promotion at work, what will stop you from doing that is not that there aren't people out there who will pay a premium price for something that you want to deliver, or that you're not worth more money, like getting a promotion at work. But the reason we don't do that is because there's a part of us somewhere that doesn't believe that we deserve it, or that we're worth it. Right? That's why because if you - I'm gonna think about it from my business, okay, because that's the easiest example that I can talk to you about, because I know that.


Meaghan Smith  08:05

When you are charging something for your service, you can't charge a higher price for your service, if you don't believe that your service is worth that. Right? And often, we don't charge a higher price for our service, also, because we just think that 'I'm not worth that'. Right? Like, 'I don't deserve that'. It's just not how we're brought up thinking. We don't often hear people walking around talking about how valuable they are, or how great they are, you know, we're kind of put down for doing that, especially in Australia with the whole tall poppy syndrome. It's like 'Pipe down already', right? Don't get too big for your boots. And there's a big difference between being arrogant and being confident. Right? But when we show confidence, it's like, we're put down as if we're being arrogant, but actually true confidence, we're generally only threatened by true confidence when it triggers for us our lack of confidence in us, right? Like we can't handle it when we see it in other people because it triggers for us, this lack that we have in ourselves.


Meaghan Smith  09:29

So anyway, how do we increase our value? And why is that so important in terms of creating success in your life? I mean, there's so many reasons that are obvious, I'm sure, to you. But I'll use the example of the free resource that I created for you that I released last week on the podcast. So I did a three day video training and there's a Money and Life Workbook that goes with it. And it's basically to help you learn how to create the money and life that you want, without overwhelm, confusion and procrastination. It's like I've given you a bit of a roadmap on how to create your goals, like how to actually go about working out what it is that you want to do, and then what you need to do to create that. Now, that's - I'm advertising that to you, I'm promoting that to you, I'm offering that to you. It's also a video series where I'm on camera speaking to you, and helping you. Now, in order for me to do that, I've got to have confidence in myself, but I also need to value that training, right, and I need to value myself, because the whole reason why I can offer that to you is because I do value myself, I feel like I have something important to offer you. And I also feel like that resource is so valuable.


Meaghan Smith  11:13

And so for me, it's so easy to talk to you about it, and tell you about it and promote it, because I value it. The tool that I'm sharing with you is something that I use in my own life to create the goals, the dreams that I have, right? And that to me is priceless. So for me to be able to offer it to you, it's so easy, because I'm like, mate, why wouldn't you get this? It is like better than white bread. Like it's the best thing since - I'm trying to think of that saying, what's that saying I'm trying to say, anyway? The best thing since sliced bread? I don't know, is that it? Anyway, you know what I'm trying to say. I'm kind of, if you don't go out and get this resource right now, it's free, it's a three day video training, I'm just like, what's happening? Why wouldn't you do that, like, I'm confused, right? Because I value it so much. I'm thinking this is the best thing ever, and I've made it for you. And it's free, oh my gosh, go and get your hands on it immediately. I'm thinking that I'm a person who can develop valuable resources. Right? And when I value myself and what I do, other people value it too.


Meaghan Smith  12:41

And that's something that's important to be aware of. Because of course, other people won't value what you do, or what you have to offer if you don't value it yourself, right? Like in a situation where you're at work, for instance. And, you know, you feel like you're working really hard. And I'm sure that you are working really hard, right, but there's somewhere in there, somewhere in your subconscious, or there's some layers in there, where you kind of have some thoughts running, like, I'm not good enough, you know, you feel inadequate, and you're not really standing in your greatness, like standing in that value of what you have to offer. And that's what comes across when you're talking to your manager when you want to get a promotion. Right? That layer in there, that's in there, where you're not valuing yourself and your greatness and your self worth. And this is something that will change your life, like when you can connect with your value. Because then you can ask for promotions. Then you can charge what you want to charge, because you value it and you believe in it. Alright?


Meaghan Smith  14:11

And it's the same thing with going after something that you want. Like if you want to do something new that feels scary, like I said before, like you want to buy a property or something and you've never done that before. When you are in the energy of valuing yourself and believing in yourself, it puts you in a position when you can go and do new things like that. Because if something happens, like if you fail, or if somebody says no to you, you've got your own back because you value yourself. But when you're coming from a place of not valuing yourself and not standing in your value, in your greatness, that's why it's so painful when people say no, because it's like they're reaffirming for you, 'oh yeah, see, I'm not good enough. See, I am inadequate.' And oh my gosh, that is just, it's terrible, it's painful, it's horrible, and it's unnecessary.


Meaghan Smith  15:13

So let's get into what you can do. And I'm just gonna pre-warn you, this is probably going to feel super uncomfortable in the beginning, if you've never done anything like this before. But don't worry, you can just do it yourself. It's a self activity. So you can just feel that awkwardness in the safety of your own home, in your own space. But what I want you to do, there's a couple of things, okay? So this is how to redirect your thinking, and start connecting to your value, and start opening the door to really stand in your value and acknowledge your value. Because I'm telling you, it's already there, you already are valuable, but you're just not seeing it. And this is like the craziest shit, I've got to tell you, like, some of my clients are frickin' powerhouse women, like they're doing incredible stuff. I have quite a few clients who are doctors.


Meaghan Smith  16:20

And, like right now, if you're not a doctor, tell me your thoughts about doctors. Like when I think of doctors, I immediately think of super smart people who are just, like, I've got them up on a pedestal, right? Like they've studied for 10 billion years to become a doctor, then they work as a doctor. And they do things that improve the quality of people's lives, they actually save people's lives, like they do some amazing stuff, they are in such service. And yet, I know doctors also in my personal life, because my partner is a doctor, so I just come into contact with doctor people, right? Who don't stand in their own value, like they're still so critical of themselves, right? And it's just like, how can you not value yourself? Right? And that's what I mean, like, it's nothing to do with, it's not even to do with what your profession is, right? But I just mean, it's this thing, it's this inner worth, it's this internal thing that we get. And it doesn't matter how successful we become or what we do in our career, we can still have this underlying thread of not standing in our own self worth, like not believing in our own self worth and our value. And I don't want that for you. I definitely don't want it for myself, I don't want it for my clients, I don't want it for my daughters.


Meaghan Smith  17:52

So please do this exercise. Like I know you're busy, you're probably listening to this while you're out on a run or driving somewhere. But take the time later, to go and do this exercise that I'm going to teach you. And on my website as well, on the Money Mindful podcast website, moneymindful.com.au, when you go to the show notes for this episode, it'll be forward slash podcast101. But even if you just go to the website, it'll be the first one up there. There's a transcript, I always put a transcript of the episodes. It's not edited, like I don't do a crazy edit on it. But the questions will be there, you'll be able to scroll down and just take the questions out of the transcript, if you're driving now and you don't have a chance to write it down. But do this, you deserve this. You deserve to believe in your value and your self worth? Right? No matter what you do. It's not like you just have to believe in your self worth so you can make more money in your business, right? It's like believe in your self worth so you can live the life that you want to live and feel like you deserve the good things that you have in your life because you're worth it. Right?


Meaghan Smith  19:14

Okay, so there's two things that I want you to do. The first thing is, two questions that you can ask yourself every day. And if you have never done thought work before, do this every day for a month. I'm not even kidding. Yeah, a month, do it every day. It will take you less than two minutes, alright? But I want you to ask yourself, 'What do I value about myself?' Right? What do you value about yourself? What do I value about myself? And just write down everything that you value about yourself. Right? Like whatever comes to mind. Like I value that I can make an amazing coffee. Nobody can make a coffee better than me like, I make the best coffee for myself that I love, right? It doesn't have to be something incredible and amazing. I value that I had the balls to start a business, I totally value that about myself. Right? Like just write whatever comes to mind, small things, big things, but make sure you write down at least three things that you value about yourself. Okay? What do I value about myself?


Meaghan Smith  20:28

The next question is 'What makes me amazing?' What makes you amazing? What's amazing about you? Right? I can feel you squirming when I ask this question, because  we don't normally ask this kind of stuff about ourselves, right? But what makes you amazing? I'll tell you what makes me amazing. I've got freckles. They are awesome. They make me totally amazing. Like, if you see my face and you see my freckles, you'll be like, Holy moly. She's amazing. Right, like just write down whatever you want, that makes you amazing. Okay, right. Like I'm a mom, that just qualifies me for being amazing, like straight up. Okay, what's amazing about you?


Meaghan Smith  21:19

Yeah, I'm really good at painting nails, I'm really good at doing my own nails. And I have short nails, I don't have long nails, you got to be good at painting nails if you got short nails, because otherwise you'll get it all over your skin. That's another thing that's really amazing about me. I can knit. Did you know that? I know how to knit and I can also weave, you probably didn't even know that. And I can rollerblade. Amazing. I'm in my 40s and I can rollerblade. I went rollerblading with my kids a few months ago, it was so fun, I hadn't done it in about 20 years. Right? Just write down all the things that are amazing about you. Okay, do that every day for a month.


Meaghan Smith  21:57

Now, there's one more task that I have for you. And this is to really ground you in your greatness and everything that you have achieved. Now you're basically going to do an achievement download, right, you're going to write all your achievements. But you can do it - you can just do it in one big blurt, like all your achievements. But sometimes, when we just are faced with everything at once we're overwhelmed, and we can't think of one thing. So you could do it this way instead, okay? I want you to list all your achievements in the last 24 hours. Okay? So you write down everything that you've achieved in the last 24 hours, write that down. And again, it can be big and small things.


Meaghan Smith  22:52

So in the last 24 hours I have achieved keeping both my children alive and healthy, and well, they've both been fed, they've had showers. What else have I achieved, I have achieved eating a healthy breakfast this morning. I've achieved going to the local shopping centre. And now that we're out of lockdown, I've got a few errands done that we haven't been able to do while we've been in lockdown. I got a new dog tag for my dog, she needed a new dog tag for a new collar. I've achieved that. I mean, see, it doesn't have to be some crazy big thing, right? I also achieved in the last 24 hours releasing my 100th episode. I'm actually recording this the day after that episode came out. Right? So it can be big or small. But what have you achieved in the last 24 hours? What have you achieved in the past month? Right? What have you achieved in the past year? What have you achieved in the past 10 years? Right, what have you achieved in your whole life?


Meaghan Smith  24:01

Really connect yourself with all the things that you have achieved. Because I bet there are hundreds of things that you have achieved. In fact, I know it, like if you're alive, you've achieved stuff. Right? But things like did you finish primary school? That's an achievement. Did you go into high school? That's an achievement. Did you get your first job? Did you learn how to drive a car? These are all achievements. Right? Did you go on to become a lawyer or a doctor? Or did you, you know, work in hospitality and become like a customer service hospitality genius, and now you're like managing a hospitality venue. I don't know. I'm just like thinking of random things that popped in my head. But just anything that you have done, I want you to write it down. Connect with your value. Okay? This exercise is so frickin' important, I cannot stress it enough.


Meaghan Smith  25:09

And this is like the layer before, you know, making all the money that you want to make and everything, because this is the real inner work that needs to be done. And it needs to be done no matter what you do, what industry you work in. The world will become a better place when people value themselves and love themselves and stand in their own greatness, alright, because when you value yourself, you have so much more to offer. So much more to offer. I mean, you've got so much more to offer now. But the thing is, is when you see your value, then you actually start offering it, because - you've got the value right now, but when you can't see it, you don't offer it to the world. Because you don't believe in it, and you don't see it.


Meaghan Smith  26:01

Think of it in this way. You owe it to yourself, and you owe it to the rest of the world, to stand in your greatness. Like when you stand in your greatness, when you believe in yourself, when you believe in your self worth, you put it out there in the world. And that's a beautiful thing. And we need more women doing that. We need more women doing amazing things in the world and standing in their value. Right? Stand in your value, please, I'm asking you, do these exercises, believe in yourself, right? Because you are worth it. We need you. And we need you and everything that you have to offer.


Meaghan Smith  26:45

So just in summary, what do you value about yourself? And what makes you amazing? Ask yourself those questions every day for at least a month and write the answers, at least three points for each one. And then just a big exercise that you can do is listing all your achievements. And to prompt yourself you can ask yourself like, what are all my achievements in the last 24 hours? In the past month? In the past year? ?n the past 10 years? In my whole life? What are all my achievements? Like, I want you to absolutely flood your brain and being with all the amazing things about you, like get connected to your value. Oh my gosh, you are so worth it.


Meaghan Smith  27:29

Okay, so before I let you go, if you didn't hear last week on the podcast, I have created a three day training for you, I want you to have it. This is going to help you create your goals. It is going to help you create the money and life that you want. It is a totally free resource. It is amazing. I would pay cash dollars for this resource. I put my heart and soul into this. I learned how to make videos, guys, I learned how to do videos and make a whole sequence using technology to develop this, for you. Alright, so I want you to go and get your hands on this because you are going to be able to apply this process that I teach you to any goal that you want to create in your life.


Meaghan Smith  28:21

So go and get it. You can get it by just going to my main website, meaghanjsmith.com. So that's the spelling of my name, meaghanjsmith.com. Go there. There's a big bar across the top when you land on my home page that you can click on to get this resource. I'd love you to have it. I would love you to be standing in your value creating what you want in your life. Because when women do that, when women make more money, when women believe in themselves, when women value themselves, the world becomes a better place, don't you reckon? Anyway, until I speak to you next week. Have an amazing week. Love ya. Bye.

Episode references

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