Yes scarcity mindset money! A scarcity mindset can have a powerful impact on your ability to earn money and keep money. If you’ve ever struggled or are struggling with making money, working on yourself is a must! But how can you change a scarcity mindset. I’ve already written about overcoming scarcity mindset in another article. So in this one I’m going to talk more about scarcity mindset in terms of money specifically. It can also effect your relationships and other areas of your life of course; but money is directly affected and is often the biggest problem.
Having a scarcity mindset was something I struggled with for years. I didn’t know it but I was carrying disempowering beliefs about who I was and my place in life. Lack of confidence, poor self image and negative beliefs about yourself or the world can all help build a poor attitude towards money and/or your ability to make it. You need to change it if things are going to improve for you and your finances.
Scarcity Mindset Money – Money Doesn’t Matter
The idea that money doesn’t matter was something I picked up in my teens. I was trying to be all “spiritual” when I was saying this. What I didn’t appreciate was that my parents had their own money worries and because of them, my needs were taken care of; a lack of gratitude!
My 20’s were largely a struggle to fit in and find my way in life. I was directionless and this seemed to make my life very difficult for a number of years. I wasn’t motivated by things and my needs were largely taken care of. However, whatever job I took I was desperately unhappy and over time my debts grew and grew.
Only later did I realise that I had a scarcity mindset about money.
What Creates A Scarcity Mindset Towards Money?
What comes first the lack or the thought of lack? A scarcity mindset often comes from things you have heard as a child growing up and the mindsets and attitudes of your parents or those closest to you. If you’ve ever heard limiting beliefs and ideas which talk about limitation and lack, you’ll know what I mean:
- Money doesn’t grow on trees
- Life is hard
- It’s a struggle
- You only need a little/enough
- Money isn’t important
- Money is the route of all evil
- The rich are greedy
- and so on..
If you grew up around any of these attitudes you’ve probably picked up at least a few negative attitudes towards money, wealth and abundance. Even if these ideas aren’t things you say consciously, you may have an unconscious behaviour pattern which is based on one or some of them. Think back to your earliest memories around money. Finding an early money related memory is a good way to discover what ideas you are holding on to about it.
Creating New Money Mantras – Changing Old Paradigms
A paradigm is a belief system which controls your thinking, or a set of thought patterns. If you’ve been around a lot of negative thinking about money in your early years, you’ll have picked them up as your own beliefs. As we get older we are more discerning towards the attitudes and beliefs we decide to adopt. But as children, the conscious deliberation mechanism is non existent and you tend to accept those attitudes as gospel; especially if they come from your parents.
Your deep unconscious beliefs may lie dormant. You are mostly unaware of them without closer inspection. You’ll usually only discover them when you’re attempting something new which buffs up against them; such as attempting to make more money!
Goal setting can be a good example too. When setting a lofty goal, you’ll probably feel some internal resistance to it. This is a good thing to do to discover your resistant belief patterns. As you think about what you would like to accomplish relating to your money goals, your mind will kick in with excuses. Listen carefully as they will directly relate to your unconscious beliefs around money, and scarcity.
Here’s another way to discover some of your limiting beliefs. Write down on a piece of paper exactly why you can’t have everything you want.
Why You Can’t Have It?
Once you have your list in front of you, write down some of the reasons for your answers. Delve deeper into your “why’s”.
You should uncover some deeper level beliefs around money. When you do congratulate yourself. In front of you will be a list of your now conscious limiting beliefs about money. They might look something like the list of limiting beliefs above.
Once you have your list you can write down opposing beliefs next to each one. So if your old belief is:
“Money doesn’t grow on trees”, write next to it, “Money comes easily and frequently”.
One is a belief that money is in short supply, the other is that there’s plenty. Which belief would you rather have controlling your life?
Get Conscious About Your Self Talk
These small conversations are happening all the time in our heads. You may even openly say that you don’t have enough, or that money is limited. Learn to notice these little ideas as they pop up and make them more conscious. Then start choosing their opposites: ideas which allow money to flow in abundance rather than ideas which limit its supply.
Some people seem to have everything. Life just works for them! While other struggle almost constantly. Why is this so? Of course a lot has to do with environment and influence. But ultimately we can change our lives by changing our thinking. This doesn’t change overnight because it will have taken years and even decades to manifest your current lifestyle, based on your thoughts and actions. But becoming more conscious of your thinking is the first step towards creating more flow and abundance in your life.
