63. Net Worth = Self-Worth? Learn Why This Is True For Some More Than Others

This week, I spoke with Dr Deborah Ward about the consequences of basing our self-worth on financial success. I was interested in this topic because I wanted to understand why some people place so much importance on financial success compared with others. I learned from Dr Ward that it’s because some people derive their sense of self-worth from how financially successful they are. We also discussed what to do if you’re someone like that.Besides the topic of deriving self-worth from financial success, Dr Ward also shares her insights and experiences about why she decided to pursue a career in academia and what you’ll need to be aware of if you’re considering going into academia. We talked about the key to success for a career in research, like the need for collaboration, of finding good mentors, how to view failure differently, and the tenacity, independence and balance needed to thrive. Dr. Deborah Ward recently graduated with her Ph.D. in Social-Personality Psychology from University at Buffalo, The State University of New York. She earned her B.A. in Liberal Arts from Muhlenberg College, where she double majored in Psychology and Russian Studies, and her M.S. in Psychology from Villanova University. Currently, Dr. Ward is an Assistant Professor of Psychology at Saginaw Valley State University.Broadly, Dr. Ward studies topics related to identity threat. People are susceptible to identity-threat when they receive negative feedback related to important aspects of the self (e.g., competence, appearance). Much of her work revolves around the consequences of basing self-worth on financial success. More recently, she has applied this work to academic contexts with the goal of understanding how to identify circumstances – in the classroom or university-wide – that could threaten students’ self-esteem or self-efficacy, and potentially discourage them from meeting or pursuing academic goals. Dr. Ward has also conducted research on numerous other topics, including romantic relationships, economic inequality, cultural norms, and coping with stressors.I’m grateful to Dr Ward for sharing her perspective, wisdom and insights from her work and her own journey and I know you’ll enjoy this one!You can connect with Dr Ward through email at [email protected]