Abraham Maslow’s current hierarchy is credit

CREDIT AND CREDIT REPAIR AS A HIERARCHY TODAY

Credit is borrowed money used to buy goods and services when you need them, thus ensuring that some needs are met. Credit repair ensures that lenders increase your chances of accessing credit. Building on the theory, Maslow identified five levels at which needs must be met.

At the base of the pyramid are psychological needs that constitute the most basic services for human survival. These needs are food, shelter, clothing, water, and physical needs. The provision of housing can be through rental or purchase. Landlords check the credit history of potential tenants, so credit repair is essential to ensure the housing need is met. When buying a home through a mortgage, a low credit score can mean higher interest rates from lenders, reducing your chances of getting a mortgage.

The second level of needs is the security needs. People are driven by the need for job and financial security, health security, family security, and environmental protection. Financial security is gained through high credit scores due to better debt management. When shortlisting candidates for job opportunities, employers check the prospective employee’s credit rating, so a higher credit score will increase your chances of job security. One can access better healthcare services through credit and insurance.

The third level of needs is the social needs, need for companionship, friendship and belonging to a group. While this is not always the case, people tend to associate themselves with success. Bad credit ratings can be seen as a failure. One can feel rejected when the consequences of bad debts begin to be felt, such as mortgage repossession by lending institutions. In such cases, credit repair is essential to restore broken relationships so that the individual has a sense of belonging.

The fourth level of needs is the esteem needs. Closely linked to social needs, they include pride, prestige, recognition from others, status, and self-recognition. Credit increases an individual’s status in society through the achievements one can achieve using available resources. An example would be buying luxury items like a yacht. Building a business empire using loans is another example that can only happen if one has a good credit rating. They give one a status and a good position in society.

The last level in the hierarchy of needs is self realisation. This is the need to be your best by developing your abilities to the fullest and achieving worthwhile goals. Once all other needs are satisfied, an individual is said to be self-actualizing. As for career, family life, social position and all other goals have been met. The individual can continue to improve in areas that he feels need polishing.

CONCLUSION

Therefore, it is safe to conclude that Abraham Maslow’s current hierarchy is a credit. The availability of credit is one way to reduce motivational conflict. Without access to credit, people do not have the opportunity to improve their income, which limits their ability to meet their needs. Pyramid Credit Repair empowers a population by opening means of access to resources to meet their needs.