Four Simple Ways to Shift from a Scarcity to an Abundance Mindset
It may just be all in your head (literally!) but your money mindset can influence your emotions and shape your actions which then determines the kind of results you get. Mindset matters! In this blog post we’ll be discussing how you can make the ultimate money move–making the shift from a scarcity to an abundance mindset.
You might think that developing a healthy money mindset isn’t as important as other financial matters such as saving for an emergency fund or building your investment portfolio but, make no mistake, nothing will stunt your financial growth like a scarcity mindset. Here are 4 simple ways you can shift your mindset from scarcity to abundance.
Inner work is the practice of looking within yourself to intimately explore and understand yourself on a deeper level. Inner work has the power to shape and transform your emotions, beliefs, and attitude in a positive way.
Our money mindset or money beliefs are often passed down from generation to generation and is something we subconsciously learn in our childhood. In order to begin taking control of your relationship with money, do some inner work by taking a long, hard look at your upbringing. Slowly shift the unconscious into the conscious. Reflect on how money affected your family, how money was discussed at home, how money was spent and saved, and lean in on any memories you have where money caused conflict in your home. Can you find a connection between your experiences to your current money mindset?
This first step of unlearning scarcity tends to bring a lot of discomfort for people who are afraid to confront the complicated emotions they have about money. Trust the process and embrace your history so that you can liberate yourself from your limiting money beliefs and move forward towards abundance.
The financial outlook of people who have a scarcity mindset can be quite bleak! They’re totally blind to the resources and opportunities available to them. They have a tendency to compare themselves to others which brews resentment and jealousy. When their friends and family achieve something, they find it difficult to be happy for them. This is because a scarcity mindset creates a tunnel vision where you only focus on what you lack. There are so many things to be grateful for every day but this hyperfixation can make you overlook it all.
A practical way to focus more on gratitude and growth is by making a simple list of all the things that you’re grateful for. There are so many things that you can overlook when you have a scarcity mindset so ground yourself with gratitude.
“If you focus on scarcity, then that will be your sole experience of money”
Can you imagine what happens when you focus on abundance? An abundance mindset grounded on gratitude can open your eyes to see more in your life: more blessings, more opportunities, and more resources.
A lot of people tend to discredit and belittle the power of positive affirmations–”How could saying something over and over change anything about my life?” But if you’re scarcity mindset causes you to engage in negative self-talk you can counter these intrusive thoughts with the use of affirmations. Positive affirmations can retrain your brain and change the narrative you have for yourself.
Yes, we put failures in quotation marks because you only really fail at something if you don’t (1) learn from your experience and (2) use what you’ve learned to your advantage. Someone with a scarcity mindset and someone with an abundance mindset experiences failure differently. When someone with a scarcity mindset fails they tend to be really hard on themselves and they use their self-criticism to justify their low self-worth. While someone with an abundance mindset uses their experience with failure as a driving force to improve and get ahead.
Here’s the cold truth: a scarcity mindset is a breeding ground for fear, doubt, and anxiety–emotions that can sabotage and limit your financial success. Don’t worry, there is still hope, because a scarcity mindset is learned and it can be unlearned with patience, effort, and self-compassion.
