The Missing Pillar of Financial Wellbeing: Why Spiritual Wellness Matters

Why do so many people with financial success still feel unfulfilled? Is there more to “wellbeing” than stable income and a comfortable lifestyle? In the quest for a happy life, we often chase careers, relationships, and material comforts. Yet, even after checking all those boxes, something intangible can remain missing. Enter spiritual wellbeing – a potential sixth pillar of wellbeing that could bridge the gap between fleeting happiness and lasting fulfillment.

Beyond the Basics: Gallup’s Five Pillars (and a Sixth?)

Decades of research by Gallup identified five essential elements of wellbeing: Career, Social, Financial, Physical, and Community (Spiritual Wellbeing: The Missing Pillar in Gallup’s Analysis – Academy of Life Planning). These “pillars” cover how we spend our days, the health of our relationships and bodies, our money matters, and our connection to community. Together, they paint a holistic picture of a thriving life. But is this picture complete?

Many experts now argue that spiritual wellbeing is the crucial missing piece. Gallup’s studies largely sidestepped spirituality as a standalone factor, perhaps to avoid conflating it with religion (Spiritual Wellbeing: The Missing Pillar in Gallup’s Analysis – Academy of Life Planning) (Spiritual Wellbeing: The Missing Pillar in Gallup’s Analysis – Academy of Life Planning). Yet spirituality – in the sense of finding meaning, purpose, and connection beyond oneself – underpins and influences all these other areas (Exploring the Five Essential Elements of Wellbeing – Academy of Life Planning). It’s not necessarily about religion; it’s about a personal sense of purpose and values. As Stephen R. Covey described, spiritual wellbeing involves “transcending basic egoic needs and pursuing significance through values-driven, purpose-led living” (Spiritual Wellbeing: The Missing Pillar in Gallup’s Analysis – Academy of Life Planning). In other words, it’s what turns a life plan into a life purpose.

Ignoring this deeper dimension can leave an otherwise successful life feeling shallow. Is earning more money or climbing the career ladder enough if we lack a sense of meaning? Probably not. That’s why some now call spiritual wellbeing the sixth pillar of wellbeing – a linchpin that holds the rest together (Spiritual Wellbeing: The Missing Pillar in Gallup’s Analysis – Academy of Life Planning). Embracing this pillar means caring not just for our bank balance or body mass index, but also for our soul. It means recognizing, as one report put it, that spirituality is “the bridge between ego and soul” – the element that completes the spectrum of wellness (Spiritual Wellbeing: The Missing Pillar in Gallup’s Analysis – Academy of Life Planning).

Hedonic vs. Eudaimonic Happiness: Fleeting Pleasure or Lasting Fulfillment?

We all want to be happy – but what kind of happiness? Psychologists often distinguish between hedonic well-being (pleasure and instant gratification) and eudaimonic well-being (deep fulfillment and meaning). Picture the momentary rush of buying a new gadget or indulging in a fancy dinner – fun, but soon fading. Now contrast that with the satisfaction of helping someone in need, or working toward a personal mission. The first is hedonic happiness: enjoyable but often fleeting. The second is eudaimonic: less about flash thrills, more about living in tune with your values and purpose.

Without spiritual wellbeing, people tend to fall into the trap of hedonic “quick fixes.” Buying more stuff, chasing the next promotion, or seeking entertainment can give a burst of joy that evaporates quickly – leading to an cycle of always wanting more. Indeed, research shows that materialism (placing a high value on acquiring money and things) correlates negatively with life satisfaction (Materialism and Life Satisfaction: A Meta-Analysis). In other words, the more we fixate on material pleasures, the less happy we tend to be in the long run. This may explain the infamous “hedonic treadmill,” where each new luxury loses its luster and we move to the next, never quite feeling content. Ever splurged on a treat and wondered why the good vibes didn’t last? That’s hedonic happiness for you – pleasant but perishable.

Eudaimonic well-being, on the other hand, comes from living a life of purpose, growth, and connection – essentially, nurturing one’s spiritual wellbeing. This kind of happiness isn’t a spike of pleasure; it’s a steady, underlying sense of contentment. Modern psychology confirms what ancient philosophers taught: a life focused on meaning and virtue tends to produce more enduring fulfillment. People oriented toward eudaimonic pursuits (like personal growth or contributing to others) make more “sensible choices for flourishing in the long run” than those fixated only on hedonic pleasure (Hedonic vs. Eudaimonic Wellbeing: How to Reach Happiness).

The benefits aren’t just emotional – they’re physiological too. In a fascinating study, researchers found that individuals with a strong sense of purpose (high eudaimonic well-being) showed healthier gene expression profiles in their immune cells, with lower levels of inflammation. Those who were high in hedonic, self-gratifying happiness showed the opposite – elevated inflammatory responses (Be happy: Your genes may thank you for it | UCLA). Both groups might have reported feeling “happy” in the moment, but on a biological level, one type of happiness was literally more healing. It’s as if our bodies know the difference between “feeling good” and “doing good.” The former gives a sugar rush; the latter provides nourishment.

So, what happens when we bring a spiritual dimension into our lives? We tilt the balance from hedonic to eudaimonic. We still enjoy life’s pleasures, but we aren’t defined by them. A spiritually well person might savor a nice meal or salary bonus, but they also find joy in things like community service, creative pursuits, or meditation. Those meaningful activities create a lasting sense of wellbeing that pure pleasure-seeking just can’t match. Instead of a rollercoaster of highs and lows, life gains a steadier, richer satisfaction.

From Maslow to Meaning: Higher Needs and Self-Transcendence

To understand why spiritual wellbeing feels so essential, it helps to revisit Maslow’s hierarchy of needs – the famous pyramid of human motivation. At the base are our basic needs (food, shelter, safety), moving upward through social needs (love and belonging) and esteem needs, up to the pinnacle: self-actualization, or achieving one’s full potential (Maslow’s Hierarchy of Needs and Self-Transcendence – iResearchNet). For years, self-actualization – becoming the best you possible – was thought to be the summit of human fulfillment. Once you’ve got food on the table, a roof overhead, and some confidence and love in your life, then becoming “everything you are capable of being” should make you truly happy. Right?

(Download Needs, Hierarchy, Maslow. Royalty-Free Stock Illustration Image – Pixabay) Maslow’s classic Hierarchy of Needs pyramid (physiological, safety, love/belonging, esteem, and self-actualization at the top). Many psychologists now suggest an additional level above self-actualization – often called self-transcendence – which represents spiritual fulfillment or connection beyond the self.

Maslow himself later realized there was more. Shortly before his death, he proposed an even higher level: self-transcendence (Maslow’s forgotten pinnacle: Self-transcendence – Big Think). What’s that? In simple terms, self-transcendence is about going beyond yourself – connecting to something greater. It’s not just becoming a better you (as in self-actualization); it’s about losing yourself in a broader purpose, whether that’s serving others, pursuing a calling, or feeling unity with the wider world. Maslow observed that truly fulfilled people weren’t only focused on their own personal growth – they also had a sense of altruism, oneness, or spirituality woven into their lives (Maslow’s forgotten pinnacle: Self-transcendence – Big Think) (Maslow’s Hierarchy of Needs and Self-Transcendence – iResearchNet). They experienced “peak experiences” – moments of awe, inspiration, or deep connection – that transformed their perspective (Maslow’s forgotten pinnacle: Self-transcendence – Big Think) (Maslow’s Hierarchy of Needs and Self-Transcendence – iResearchNet). In these moments, the boundaries of the self fade, and one feels part of a larger whole.

Why does this matter? Because it suggests that after we handle our basic and psychological needs, we naturally start craving meaning. We want to know that our life matters in the grand scheme, that we’re connected to others, that we’re contributing to the world. This is the essence of spiritual wellbeing. It aligns with what Maslow’s self-transcenders felt – a drive to focus “on collective well-being and the interconnectedness of all life” (Maslow’s Hierarchy of Needs and Self-Transcendence – iResearchNet).

Think of it this way: financial stability might fulfill your safety needs, and a good job might satisfy esteem needs. But once those are met, simply having more money or accolades doesn’t elevate your happiness much further. To really feel fulfilled, you start looking at questions like “What is my purpose? How can I give back? What legacy will I leave?” These are spiritual questions – the domain of that sixth pillar. Maslow’s hierarchy (with self-transcendence at the top) essentially validates that meaning and purpose are fundamental human needs too. They sit at the apex of our wellbeing needs, turning a well-rounded life into a truly fulfilling one.

The Benefits of Nurturing Spiritual Wellbeing (for Mind, Body, and Beyond)

Does cultivating your spiritual wellbeing actually make a tangible difference in your health or psychology? Absolutely – and science backs this up. When we talk about spiritual wellbeing here, we mean that “sense of ultimate meaning, purpose, connection, or transcendence” that a person seeks (Spirituality linked with better health outcomes, patient care — Harvard Gazette). This could be through faith or religion, but it might also be through connecting with nature, practicing mindfulness, volunteering, or any avenue that gives you a sense of deeper purpose.

Mounting evidence shows that tending to this side of life yields real benefits. For one, it’s associated with better mental health. People who report higher spiritual wellbeing often also report greater life satisfaction and lower rates of depression and anxiety (Maslow’s Hierarchy of Needs and Self-Transcendence – iResearchNet). In fact, one study found that spirituality had a positive impact on subjective well-being (life satisfaction and emotional balance) regardless of whether individuals were religious or not (Frontiers | The Role of Spirituality and Religiosity in Subjective Well-Being of Individuals With Different Religious Status). It appears that simply having a sense of inner purpose and connection can act as a buffer against life’s stresses. When challenges arise, those with a spiritual foundation may cope better, finding solace in their beliefs or practices (think meditation, prayer, or even a simple gratitude habit). This isn’t just feel-good rhetoric; it’s observed in research that such practices promote positive emotions like gratitude and forgiveness, which are linked to resilience and lower stress (What Is the Meaning of Spiritual Well Being? Peace & Harmony).

Physical health seems to get a boost as well. A comprehensive review in 2022 led by Harvard and Brigham and Women’s Hospital found that individuals who engage in spiritual community (for example, attending religious services or similar communal spiritual activities) tend to live healthier, longer lives. They had greater longevity, and notably lower rates of depression, suicide, and substance abuse (Spirituality linked with better health outcomes, patient care — Harvard Gazette). Other studies have found correlations between spiritual wellbeing and things like improved recovery from illness and better health behaviors (Spirituality linked with better health outcomes, patient care — Harvard Gazette). The mind-body connection here is profound: when you feel that life has meaning, you’re more likely to take care of yourself and maintain hope during difficulties, which in turn affects physical outcomes. Even something as simple as gratitude, often cultivated by spiritual practice, has been linked to better heart health and sleep quality in patients, essentially mediating the health benefits of spirituality (The Connection Between Spiritual Health and Physical Health) (The Connection Between Spiritual Health and Physical Health).

To put it plainly, nurturing your spiritual wellbeing isn’t just an abstract, “new age” suggestion – it can make you psychologically stronger and more resilient, and even help protect your body. It’s like a multi-vitamin for the soul that also fortifies your mind and body. By contrast, a life devoid of any spiritual dimension can leave you more vulnerable to the pitfalls of stress. Without a larger sense of “why,” setbacks and losses may hit harder, and even pleasures might not nourish you deeply enough to stave off emptiness. Little wonder that experts advocate treating spirituality as part of “whole person” care in health: it addresses a core human need and can dramatically improve quality of life (Spirituality linked with better health outcomes, patient care — Harvard Gazette) (Spirituality linked with better health outcomes, patient care — Harvard Gazette).

Real-World Implications: Spiritual Wellbeing and Your Financial Life

You might be thinking, this all sounds great for personal growth, but what does spiritual wellbeing have to do with my finances? Surprisingly, quite a lot. Financial wellbeing isn’t just about how much money you have – it’s about your relationship with money and how it supports your life. This is where spirituality and finances intersect.

First, consider decision-making and life choices. Someone who defines success purely in financial or material terms might pursue a high-paying career they dislike, or spend impulsively on luxury items to chase a hit of happiness. But without an internal sense of purpose, these choices can lead to burnout and emptiness (or even debt, if one is spending recklessly for that temporary thrill). Now consider someone who has taken time to reflect on their values – maybe their mission is to help others, or to create art, or to raise a loving family. That person might still earn a good living, but they’re less likely to be enslaved by the paycheck. They might turn down a lucrative job that clashes with their ethics, or budget their money in a way that aligns with their values (allocating time and resources to what matters most). In the end, who is better off? The research leans toward the spiritually grounded individual. Studies show that when people focus on intrinsic goals like personal growth or community (versus extrinsic goals like status or wealth), they tend to have higher well-being – and ironically, they may handle money wiser because it’s a tool, not the end-all-be-all.

One clear financial implication is in our spending habits. If you lack a sense of higher purpose, it’s easy to seek comfort in retail therapy – buying things to fill a void. This might provide a jolt of hedonic happiness, but it wears off, prompting another purchase. On the other hand, individuals who find joy and meaning in non-material ways often don’t need to overspend for happiness. They might choose to spend on experiences or causes rather than more stuff. Notably, research by psychologists Elizabeth Dunn and Michael Norton showed that people who spend money on others – whether buying a gift or donating to charity – report greater happiness than those who spend primarily on themselves (Money Buys Happiness When You Spend On Others, Study Shows | ScienceDaily). Even a small amount, like $5 given or spent pro-socially, can boost your mood more than using it for personal indulgence (Money Buys Happiness When You Spend On Others, Study Shows | ScienceDaily). Think about that: generosity, a value almost every spiritual tradition preaches, has measurable effects on happiness. It’s a real-world example of spiritual wellbeing (expressed through kindness) improving one’s overall wellbeing. So practicing generosity isn’t just good karma; it’s good for your emotional bottom line.

Spiritual wellbeing also helps in defining what “enough” means financially. Without it, we’re prone to constantly compare ourselves to others and aspire to more, more, more. No amount of money ever feels sufficient on that treadmill. But a spiritually healthy outlook encourages contentment and gratitude for what one has, even while striving for improvement. It reframes money as means rather than meaning. For instance, if family, faith, or personal growth is your core value, you might prioritize savings for your children’s education or taking time off for a meditation retreat over leasing the latest luxury car. These choices reflect a trade-off: short-term pleasure versus long-term fulfillment. And people who lean toward fulfillment often find they don’t miss the extra gadgets or status symbols much at all. They’re too busy enjoying the deeper rewards of their choices.

On the flip side, ignoring spiritual wellbeing can have financial downsides in the long run. A person purely chasing material success might indeed amass wealth, but they could also experience more stress, life imbalance, or ethical compromises that backfire (for example, taking on risky ventures for greed’s sake and losing it all, or suffering health costs that no amount of money easily fixes). Lacking an internal compass makes one more susceptible to societal pressures – keeping up with the Joneses, or workaholism – which can strain both wallet and wellbeing. By integrating a spiritual perspective, we tend to view financial goals through a wiser, wider lens: Will this purchase truly enrich my life? Does this investment align with my values? How can my financial resources contribute to things that matter? Those kinds of questions lead to more mindful money management.

As a practical example, many financial planners today incorporate values-based planning. They ask clients about their life purpose and what brings them joy, not just about dollars and cents. The result is often a financial strategy that includes, say, a “giving” fund for charity, or a career plan that might accept a lower salary in exchange for work-life balance or social impact. These clients frequently report feeling happier about their finances, even if by pure numbers someone else might think they could have “more.” In essence, by adding the spiritual pillar, people achieve a sense of financial contentment – a state where their money is serving their life’s purpose, not the other way around.

Conclusion: Fulfillment – The True Wealth

So, can we really call spiritual wellbeing the “sixth pillar” of financial (and overall) wellbeing? The evidence – both scientific and anecdotal – makes a compelling case. Without it, we might have all the pillars standing, but the structure wobbles. We may enjoy pleasures and successes yet feel inexplicably empty or anxious. That kind of happiness is like sand slipping through fingers: here one moment, gone the next. Hedonistic well-being without higher meaning is ultimately hollow – a feast of desserts without any nourishing main course.

Include spiritual wellbeing, though, and the picture changes. Life gains depth. Achievements and assets are appreciated, but not idolized. Challenges become more bearable because they can be framed as part of a larger journey or growth process. Joy comes not just from what we have, but from what we give and who we become. This is the essence of eudaimonic well-being – a lasting fulfillment rooted in purpose. It’s the kind of happiness that sticks, that doesn’t evaporate when the party’s over or the market dips.

Importantly, spiritual wellbeing isn’t about abandoning worldly goals or denying ourselves simple pleasures. It’s about integrating our inner values with our outer lives. It means recognizing, for example, that making money can be positive and enabling (it allows us to care for family, support causes, experience wonderful things), but making money the sole meaning of life is a recipe for disappointment. With a healthy spiritual core, we put money in its proper place – as a resource, not the source of meaning. We seek balance: enjoying the material comforts and cultivating the immaterial riches of love, connection, purpose, and faith.

In a world that often measures wellbeing in paychecks and possessions, embracing spiritual wellbeing is a subtle rebellion. It’s saying that true wealth is measured in peace of mind and a sense of meaning. It’s the difference between just surviving and truly thriving. So ask yourself: in building your own financial wellbeing, have you included that sixth pillar? If not, it might be time to invest in the one account that never suffers from recession – your inner self. After all, the dividends of spiritual wellbeing – happiness, health, and fulfillment – are returns worth seeking for a lifetime.