Maslow’s Hierarchy of Needs Theory

In 1942, Psychologist Abraham Maslow Developed his Hierarchy of Needs Theory which categorized human needs into different stages of a triangle. He discusses how the bottom layers of the pyramid must be achieved before climbing up the period. Furthermore, as you go up the pyramid, your life can be more fulfilling. 

The different stages of the pyramid, from the bottom to the top 

1. Physiological needs- These consist of the most fundamental and basic needs such as food, water, air and sleep. All other needs going forward are secondary and unachievable until these core psychological needs are met. 

2. Security needs- these include the desire for security and general safety. This includes a safe environment, ability to pay for housing, go to a doctor or just generally take care of ourselves. 

3. Love and Belonging Needs- this is the desire to share affection with others and be loved and accepted.

4. Esteem needs- This includes the desire for accomplishments, status and things regarding your own personal achievement. For instance, any type of need you feel in order to build your self esteem would fall in this category. 

5. Self- Actualizing Needs- This is the highest level of Maslow’s hierarchy of needs. This is when people want to make a positive difference in the world and focus on their personal growth and legacy.

Why should we care about Moslows hierarchy? We study and care about this pyramid because it helps us visualize how deeply money can affect our lives. We already know that money impacts our relationships, health, emotions and general mood, but this pyramid allows us to understand that money impacts our needs as well. Starting with the very bottom of the pyramid, money affects our ability to acquire even the most basic needs such as food, water and shelter. For example, if you are homeless and have barely enough money to give yourself the necessities, you are not focused on self esteem needs, but instead basic survival. This even goes for people of any social class facing heavy financial stress. If you are about to lose your home due to bad business decisions, you're not going to be thinking about self actualization needs. Therefore, the amount you have forces you to focus on certain needs over others. 

Maslow believes that the ultimate human goal is self-actualization needs and finding ways to make the world a better place. But if you are struggling to obtain lower level, more essential needs, you will not be able to focus on these higher areas of the hierarchy. Therefore, if you want to spread your legacy and climb up this ladder of needs, you must address your money problems. 

The different stages of the pyramid, from the bottom to the top 

1. Physiological needs - These consist of the most fundamental and basic needs such as food, water, air, and sleep. All other needs going forward are secondary and unachievable until these core physiological needs are met. 

2. Security needs - These include the desire for security and general safety. This includes a safe environment, the ability to pay for housing, go to a doctor, or just generally take care of ourselves. 

3. Love and belonging needs - This is the desire to share affection with others and be loved and accepted.

4. Esteem needs - This includes the desire for accomplishments, status, and things regarding your own personal achievement. For instance, any type of need you feel in order to build your self-esteem would fall in this category. 

5. Self-actualizing needs - This is the highest level of Maslow’s hierarchy of needs. This is when people want to make a positive difference in the world and focus on their personal growth and legacy.

Why should we care about Maslow's hierarchy? We study and care about this pyramid because it helps us visualize how deeply money can affect our lives. We already know that money impacts our relationships, health, emotions, and general mood, but this pyramid allows us to understand that money impacts our needs as well. Starting with the very bottom of the pyramid, money affects our ability to acquire even the most basic needs such as food, water, and shelter. For example, if you are homeless and have barely enough money to give yourself the necessities, you are not focused on self-esteem needs, but instead basic survival. This even goes for people of any social class facing heavy financial stress. If you are about to lose your home due to bad business decisions, you're not going to be thinking about self-actualization needs. Therefore, the amount you have forces you to focus on certain needs over others. 

Maslow believes that the ultimate human goal is self-actualization needs and finding ways to make the world a better place. But if you are struggling to obtain lower-level, more essential needs, you will not be able to focus on these higher areas of the hierarchy. Therefore, if you want to spread your legacy and climb up this ladder of needs, you must address your money problems.