If you find yourself living paycheck to paycheck, spending money as quickly as it comes in and often saying “I don’t have enough” or “I can’t afford that”, it’s highly likely that you’ve cultivated a scarcity mindset.
A scarcity mindset is often connected with negative emotions. It can cause fear, resentment and anxiety.
This scarcity mindset may be what is putting limits on you and your finances, keeping you from achieving your goals.
The key to getting out of a scarcity mindset is to build and embrace abundance.
Observe Your Thoughts About Money
What you think about, often becomes your reality.
When your thoughts about your bank account and your money are focused on not enough, you’re in scarcity mindset.
But, scarcity isn’t defined by the actual amount of dollars in your possession. Scarcity is a thought pattern that you can choose to eliminate.
When you make the decision to focus on enough, and you shift your thoughts to “I have enough”, it won’t be long until this becomes your reality.
By observing your thoughts, you have the opportunity to apply the choose again method.
When you notice a scarcity thought in your mind, stop. Acknowledge the thought, then decide to choose again. Replace the scarcity thought with one of abundance.
When you first start to observe your thoughts you may shocked by how many times negative thoughts about money pass through your mind.
That’s ok, the fact that you’re noticing these thoughts now is giving you the power to change them.
Your financial reality will change as your thoughts change.
Give Your Money Positive Attention
Instead of focusing on the amount of money you wish you had, give positive attention to the money you do have.
Stop avoiding your bank statements and checking your bank balance. If you have a negative emotion associated to these tasks that needs to change.
Before checking your bank balance, decide how you want to feel. You may choose feelings of gratitude, excitement or relief. These are all feelings associated to positive thought.
In a previous post, we discussed that you get to decide how you think about your money. Your thoughts then create your feelings.
The more you choose positive thought and emotion when checking your bank balance, the better you’ll feel about your money.
Great relationships are built by spending time together. Your relationship with money is no different.
You get to intentionally choose to focus on thoughts of prosperity, and visualize yourself achieving financial success.
The more positive attention you give your money, the more you will reduce space for thoughts of scarcity and lack.
If you’re struggling to come up with positive thoughts about your money, check out this list of 251 money affirmations.
Stop Comparing your Finances to Others
One of the biggest contributors to a scarcity mindset is comparing yourself to others.
You may see others taking vacations, buying real estate, and spending on luxury items but that doesn’t mean your life is any less full or meaningful.
Rather than feel jealous or sad, wish others well in their experiences. Be happy for them.
Then, bring your attention back to your own life. Think of the things your money has done for you and be grateful. Even if it’s paying a bill. Be grateful for the services you received in exchange for paying that bill.
You can also use what you see other people having as proof that if it’s possible for them, it’s possible for you. Use what it is they have that you think you’re lacking as motivation to push yourself to obtain what it is you seek.
If you don’t take action, it’s a clear sign that you’re not motivated. If you’re not motivated, what they have isn’t what you actually seek.
If that’s the case, dig deeper into this and ask yourself what it is about their life that you feel you’re lacking. You may discover that it’s not their recent trip you are envious of, instead it’s the time they were able to spend with their family.
Scarcity mindset may initially present itself as being about money but there can often be something else hiding deeper within you.
Practice Keeping Your Money Longer
If your money is spent before you even receive it, it’s no wonder you have thoughts of “there’s never enough”.
Give your money a chance to settle.
Unless a bill needs to be paid the same day you receive your paycheck, set yourself a reminder to pay it in a few days.
By practicing keeping your money longer, instead of finding ways to spend it as soon as you get it, you’ll start to learn how to have money.
When you start to have money, you’ll start to have more of it.
This will also help with creating positive thoughts and feelings when you log into your bank account because you’ll actually start seeing more money in your account since it’s not being spent the same day it comes in.
When you start to hold on to your money longer, you’ll enjoy having it there and may start experiencing feelings of relief. Knowing that you have money.
And as these positive feelings become more common, you’ll start to hold on to even more of your money longer, allowing it to accumulate just because you can.
Building an abundance mindset becomes easier when you learn how to have money just for the sake of it.
These are just a few ways to overcome a scarcity mindset.
Once you start to see things from a state of abundance it will open up a world of possibilities.
The first step toward discarding a scarcity mentality involves giving thanks for everything that you have. – Wayne Dyer
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