Have Faith

Confidence Matters

Confidence is everything, especially for women. It signals who you are to others and gives you significant power over setting your own role, value, and the respect you command. Research across psychology, economics, and sociology underscores the importance of confidence, and there's a staggering gender confidence gap that we must address (and will address in future editions). It pays to have a bit of over-confidence, which not only positions you better in social and professional realms but also boosts your happiness. Let's explore how and why confidence is crucial.

Confidence and Its Multifaceted Importance

1. Confidence as a Protective Factor: Positive self-esteem serves as a buffer against stress and adversity. It is associated with better mental health outcomes and improved coping strategies. According to Lazarus and Folkman (1984), viewing oneself positively can be a crucial psychological resource for dealing with adverse conditions. High self-esteem reduces vulnerability to stressors and fosters resilience.
2. The Benefits of High Self-Esteem: High self-esteem is linked to numerous positive outcomes, such as better social relationships, greater success in educational and work settings, and improved mental and physical health. A comprehensive review by Orth and Robins in the American Psychological Association highlights these benefits, emphasizing that confidence can lead to more successful and fulfilling lives. In particular for relationships, the effect goes both ways: good relationships build confidence. See my blog on Psychology Today for tips.
3. Confidence and Economic Behavior: Confidence significantly impacts economic decisions. Research shows that higher confidence levels lead to more optimistic economic expectations and behaviors, fostering economic growth and stability. This demonstrates the broader societal impact of individual confidence levels. Confidence can also make for more prudent financial management with appropriate boundaries, see Tori Dunlap .
4. Confidence and Mental Health: Low self-esteem is a significant factor in the development and maintenance of depression. A study published in PLOS ONE found that self-esteem influences how individuals respond to stress and anxiety, which in turn affects their mental health (PLOS). Improving self-esteem can be a powerful intervention to reduce depression and anxiety.
5. Social Influence and Collective Behaviors: Confidence affects how strongly individuals advocate for their beliefs and make decisions, impacting group dynamics and social influence also via executive presence. Research indicates that confident individuals are more likely to shape collective behaviors and drive consensus.

The Power of Over-Confidence

A bit of over-confidence can be beneficial. It can help you aim higher, take more risks, and pursue your goals with greater determination, which has been shown to lead to company success. And one of my favorite studies shows that you want to be married and think of yourself as upper class and attractive to achieve the highest life satisfaction. However, Dr Tomas Chamorro-Premuzic has documented the social and pervasive dangers created by (over)confidence.

Conclusion

Confidence is a vital asset that influences many aspects of life. For women, building and maintaining confidence is especially crucial to overcome societal barriers and achieve personal and professional success. We need to get confidence right in the first place and before any other choices, because without it we would be aiming too low and miss our potential and possibilities.

Yours sincerely,

Rebekka