You’ve earned it, so why feel guilty?
We’ve all had an attack of the guilts at some point. Whether or not you are rolling in it, at some point in your life you turn on the TV and notice that you happen to be in the richest 1% of the world because you have more than $10 in your bank account.
Then there’s the other kind: the wealthy guilts because you are more established, secure, able to trip off on vacations, than the people around you.
In the Get Rich Slowly post, ‘The Guilt of Wealth’, the writer looks at hard-working people who now feel guilty about their levels of wealth. One person he mentioned saved all his life for an expensive car, and now doesn’t want to drive it because he’s embarrassed and he doesn’t want his kids growing up and taking these things for granted.
So why do we feel guilty about our money? Partially, I’m sure it has something to do with compassion. Guilt is a reaction of integrity, when faced with the people around us who don’t have similar resources or luxury. It has- I think- also something to do with our inability to talk about money, whether we are in debt or flush. There’s something taboo about the topic still, so any purchase that shows our wealth will inevitably bring with it some uncomfortable feelings.
So, what can you do about it?
Stay grounded
The author of the Get Rich Slowly post planned to stay frugal and just spend money on the occasional luxury, without being ostentatious. Staying real about other people’s access to money helps- so continuing to live a similar lifestyle to the people around you will help you keep saving and ensure you feel comfortable.
Stay empathetic
You’ve worked hard for your money, and no one is claiming otherwise. But you also understand that there are a lot of people out there who work just as hard and don’t seem to get anywhere. Whether it’s staying grounded and throwing barbeques like the old days, as opposed to sit down dinners, or formalizing your assistance through a charity, there are lots of ways you can use your wealth for good without denying yourself the pleasures you’ve earned.
This doesn’t have to be limited to purely financial assistance. Volunteering your time or your expertise is a wonderful way to assist others. While charity probably shouldn’t be done just to alleviate the guilts, volunteering or donating is a wonderful way to acknowledge the help you’ve received from the community and to pay them back for that help.
Pass it on
You’ve gotten where you are through hard work, a sprinkling of luck and probably a good dose of common sense and knowledge. There’s no need to keep that knowledge to yourself- share the tips and tricks you’ve picked up along the way to others who might need it. If you know of a great savings account or a trustworthy financial planner, pass it on to those around you. Talk about how you made it happen- not preaching, just discussing the ins and outs of getting debt free or fattening up a savings account. As the Get Rich Slowly writer states, if he can help others achieve wealth, maybe he won’t feel quite so guilty about his own.
Why do you think people feel guilty about the amount of money they have? Do you feel guilty about your level of wealth?
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