A new study has found that Australian parents are underestimating their self-worth which is leading them to making poorer life choices.
The study found that because of underestimating their contribution they provide to family and loved ones, over half (54%) of parents struggle to understand the value they provide to their family and friends more than the average Australian (47%), which is leading to negative repercussions like feeling guilty for not spending enough time with family and friends (23%), not providing enough financial stability to loved ones (26%), feeling guilty for missing important events like birthdays (14%), and regretful for spending time at work (14%).
The research, from Australian life insurance specialist, TAL, revealed Australians do not always recognise the value of the contributions they make to others and the impact this has on their life choices.
The study also found that parents underestimate their value more than the average Australian and the difficulty to understand self-worth has had a negative impact on the way they feel about their life choices and decisions they have made
According to the research, Australians struggle to understand their own worth is down to them tending to base their value on how much they earn or own, with 64% naming their possessions as their most valuable asset and neglecting to recognise the value of their emotional support and contributions to loved ones.
Commenting on the findings, Dr Ilan Dar-Nimrod, from the school of psychology at the University of Sydney, said: “As people, we have a natural tendency to recognise the value of material things, but it’s not so straightforward when it comes to ourselves. This can impact how we view our own self-worth, leading us to measure it based on elements that are easy to monetise, such as how much we work, earn and what possessions we own, while missing the point that our value is so much greater. Although it contains all of these elements, it goes above and beyond material assets. The value we provide to others through emotional support and mateship is endlessly valuable, but it’s the first thing we seem to forget.
The research also identified four different profile types that Australians tend to fall into depending on how they view their own value. The majority of the country (60%) are more focused on family and spending quality time with others while 40% are more career driven and focused on providing financially for others.
People can find out what profile type they are by using TAL’s personal value test to better understand which areas of their life they may be undervaluing.
To explore the concept of how Australians value themselves further, TAL also asked Australian parents and their children what their most asset is and found that Australian parents rarely recognised the value they provide to their loved ones. Watch the full video below: