The Crucial Difference Between Your Extrinsic and Intrinsic Value and Why It's So Important

Hello everyone. 

This post is about a concept that seriously changed not only the way I viewed the world but also myself. 

You may not have heard the words Extrinsic or Intrinsic before and thats fine, I hadn't either until recently. Both are terms often used in Cognitive Behavioural Therapy (A form of psychological talking therapy) and Positive Psychology (also sometimes called the psychology of happiness or well-being psychology). 

So what does all this mean?

Well, I talk a lot about the importance of knowing your worth and value so that you can apply your strengths strategically to your goals. But what a lot of people don't realise is that HOW you view your value is of critical importance!

Extrinsic Value is the value you assign to yourself based on external factors or when you believe yourself to be valuable based on something outside of yourself. Some of the common things people with an extrinsic sense of value may be concerned with is needing to be liked by everyone or feeling they need to earn a certain amount of money or look a certain way in order to have value.

Meanwhile, Intrinsic value is the value you apply to yourself internally. 

These concepts have long been around in business and philosophy but have recently been gaining a lot of traction in the fields of Positive Psychology, Developmental Psychology and Personal Development and Well-being in relation to human being's personal values and sense of self-worth. 

Most of the research points to the fact that we develop these senses of value subconsciously in our youth. The Centre of Positive Psychology at Warwick University recently conducted a study on Children's Extrinsic and Intrinsic Value's and the implications on well-being. The full, unpublished manuscript can be read here: http://www.pprc.gg/uploads/intrinsic.pdf

Why is this so important?

Unfortunately, the vast majority of people have been found to allow the way they see their value  to be determined by extrinsic factors such as their financial worth, physical image, relationship status, the way their colleagues, peers or families treat them, what they believe other people think of them and what they see in mainstream media and society. 

Those who judge their self-worth on extrinsic factors are more likely to:

• Try to please and seek validation from others instead of going after their own goals
• Have low self-esteem and compare themselves negatively to others leading to a decrease in their well-being
• Be more vulnerable to conditions such as eating disorders and body dysmorphia
• Tolerate toxic and even abusive relationships
• Internalise negative labels which the brain then reinforces subconsciously
• Have higher levels of chronic anxiety, depression and social anxiety
• Report a lack of satisfaction and fulfilment in their daily lives
• Lack the confidence to take risks and make original contributions in their careers

Those with an Intrinsic sense of self-worth on the other hand have developed a mindset whereby they know the value of their inner self for their own sake and do not require the same level of external validation. People with an intrinsic sense of self-worth have been found to generally:

• Have higher level's of self-belief and take control in their lives
• Be confident in themselves without needing external validation from others
• Be more resilient and have better mental and physical health
• Not internalise what other people think of them
• Report higher levels of satisfaction and happiness in their daily lives
• Know their strengths and where to apply them strategically
• Have higher levels of motivation 
• Be more likely to take risks and contribute original ideas in the workplace
• Make more money (dependant on their chosen field)

While analysing ourselves and our values may take some brutal honesty and self-discovery (admitting how much we really care about other people's opinions or our number of followers on social media may make us feel insecure or silly), it has been shown to be an important part of achieving a self-actualised mentality and success mindset. If we are not honest enough with ourselves in accepting how much extrinsic factors mean to us, it is highly unlikely we will be able to break these habits and cultivate the intrinsic values that we seek.