What term refers to beliefs held in high esteem that guide one's life?

The term that refers to beliefs held in high esteem that guide one's life is "values." Values represent an individual's deeply held priorities and convictions, which inform their decisions and behavior. They can encompass a wide range of concepts, including what individuals consider important, such as honesty, integrity, loyalty, and respect. These underlying beliefs shape not only personal conduct but also interactions with others and responses to various situations.

While principles, ethics, and morals may also relate to behavior and decision-making, they each have specific meanings and applications. Principles typically refer to fundamental truths or propositions that serve as the foundation for a system of belief or behavior; ethics is often associated with a systematic framework of reasoning about right and wrong that can vary between cultures or professions; and morals generally pertain to specific beliefs about right and wrong behavior that may be more individualistic or socially influenced. Values serve as the broader guiding framework that encompasses these concepts, highlighting their foundational role in shaping one's approach to life.