5 Money Mindset Shifts To Move From Scarcity to Flourishing

Money mindset shifts are the key to building financial stability and creating a life of opportunity and abundance.

Money Mindset Quote - T. Harv Eker

But unfortunately, despite the potential it creates, this topic is often overlooked in favor of the mistaken belief that hard work alone is enough.

Let’s not make that fumble.

In this article, I’ll dive deep into money mindset shifts and how they are created and provide actionable steps to help you adopt a positive money mindset.

How is a money mindset created?

A money mindset is created through childhood experiences, cultural and societal influences, and personal beliefs and experiences.

These can lead to a scarcity mindset, where you believe there is never enough money, or an abundance mindset, where you believe there is always enough.

What is a scarcity mindset?

Definition: A scarcity mindset is characterized by negative beliefs around money, such as the fear of not having enough or the idea that money is scarce.

People with a negative money mindset may feel like they always struggle to make ends meet.

They may be overly focused on money and fearful of spending it, leading to feelings of anxiety and stress. They may also believe that more money is inherently bad or that they do not deserve financial success.

These limiting beliefs can prevent individuals from taking risks or pursuing opportunities that could lead to financial stability and success.

What is an abundance mindset?

Definition: An abundance mindset is characterized by positive beliefs around money, such as the belief that there is always enough money to achieve your goals.

Rather than viewing money as scarce and limited, those with an abundance mindset believe there is always enough money to achieve their goals. Therefore, they approach financial decisions positively and optimistically, focusing on opportunities and possibilities rather than limitations and scarcity.

As a result, it can help individuals feel more confident and empowered when it comes to making financial decisions and improve their overall financial well-being.

By shifting their focus from lack to abundance, individuals can open themselves to new opportunities and experiences to help them achieve their financial goals.

What are money mindset shifts?

Definition: A money mindset shift is a change in perspective towards money.

It involves recognizing and changing negative beliefs and behaviors hindering financial success. Adopting a positive money mindset can create a foundation for financial security, stability and abundance.

How do I shift my money mindset?

In this section, we’ll explore three powerful mindset shifts to help you take control of your finances and invest in your future.

Money Mindset Shifts - Ester Hicks

You’ll learn how to shift your mindset from ‘spending’ money to ‘investing’ it, from thinking “can’t afford” to “how can I afford,” and from “price” to “value.”

1. Shift from ‘spending’ money to ‘investing’ it

One of the most potent money mindset shifts is moving from ‘spending’ money to ‘investing in yourself.’

This shift involves recognizing that money spent on personal growth and development is an investment in your future.

So rather than considering a purchase as an expense, consider it an investment in yourself and your future success. For example, instead of saying, “I spent $1,500 on an online course,” you can say, “I invested $1,500 in my education.”

Why make this mindset shift?

By viewing money spent on personal growth and development as an investment, you are more likely to make intentional and mindful decisions when you spend money. Ones that that better align with your goals and values.

You may even find that you are more willing to invest in experiences and opportunities to help you grow and succeed in the long term.

How to make this mindset shift

To make this mindset shift, start by identifying areas where you would like to invest in yourself.

This may include education, personal growth, health, or other areas that align with your values and goals. Set a budget for these investments and prioritize them in your financial plan.

2. Shift from thinking “can’t afford” to “how can I afford”

Another powerful shift you can make is to stop thinking in terms of “can’t afford” and instead focus on “how can I afford it?”

This shift in thinking opens up a world of possibilities and opportunities you may have otherwise overlooked.

Why make this mindset shift?

When you approach financial decisions with a scarcity mindset, you limit your options and close yourself off to new opportunities.

However, when you approach financial decisions with an abundance mindset, you can see more possibilities and find creative ways to make things happen.

How to make this mindset shift

To make this mindset shift, start by reframing your thoughts.

Money Mindset Quote - Robin Sharma

Instead of saying, “I can’t afford that,” say, “How can I afford that?” This simple change can shift your focus from lack to abundance.

Another way to shift your thinking is to focus on solutions rather than problems. So instead of getting stuck on what you can’t do, start thinking about what you can do.

  • What resources do you have at your disposal?
  • What creative solutions can you come up with?

3. Shift from price to value

You can also choose to stop focusing on price and start focusing on value.

This means considering the long-term benefits of an investment or purchase rather than just the immediate cost.

Why make this mindset shift?

When you focus on value, you can make more informed decisions that align with your goals and values.

You can also invest in things that will provide long-term benefits, such as education, health, and personal growth.

How to make this mindset shift

To shift this mindset, start by considering the long-term benefits of your financial decisions.

Instead of just looking at the price tag, consider the value an investment or purchase will provide over time.

Ask yourself questions like:

  • How will this investment improve my life in the long run?
  • Will this purchase help me achieve my goals?
  • Is this a wise investment that will provide long-term benefits?

4. Surround yourself with positive influences

The people we surround ourselves with can significantly impact our money mindset.

If you’re constantly around people who have a negative or scarcity mindset when it comes to money, it can be difficult to shift your own money mindset in a positive direction.

On the other hand, surrounding yourself with positive money influences can help reinforce a healthy and positive money mindset.

Why make this mindset shift?

Surrounding yourself with positive money influences can also help you stay motivated and accountable as you work towards your financial goals.

You can share your progress with your support system and celebrate your successes together.

How to make this mindset shift

Seek out people with a positive attitude towards money who prioritize financial literacy and can offer guidance and support in your financial journey.

Money Mindset Quote - Oprah Winfrey

You can also find positive money influences in many places, such as online communities, social media groups, personal finance blogs or podcasts, financial workshops or courses, or by joining a local financial or investment club.

5. Immerse yourself in the language of abundance

One of the easiest ways to shift your money mindset and gain financial knowledge is by reading books, listening to podcasts, and consuming other forms of financial content.

Why make this mindset shift?

Regularly consuming financial content can shift your money mindset and help you gain the knowledge and confidence to make informed financial decisions.

So start reading, listening, and consuming financial content today!

How to make this mindset shift

Reading books about personal finance can be a great way to gain a deeper understanding of financial concepts and strategies.

Some popular books on personal finance and building wealth written by women include

  • “Money Honey” by Rachel Richards
  • “The Psychology of Money” by Morgan Housel; and
  • “You Are a Badass at Making Money” by Jen Sincero

Listening to podcasts is another great way to gain financial knowledge while on the go.

Many podcasts are hosted by financial experts and cover various financial topics, from budgeting and investing to entrepreneurship and wealth-building. Some popular finance podcasts include:

  • “So Money” with Farnoosh Torabi
  • “Her Money” with Jean Chatzky
  • “Clever Girls Know” with Bola Sokunbi

In addition to books and podcasts, following financial influencers and experts on social media can be a great way to get daily tips and advice on managing your money.

However, it’s essential to be mindful of the sources you are consuming and ensure that the information is coming from reputable and reliable sources. Always do your research before taking financial advice from anyone.

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    Money mindset shifts: which ones will you make today?

    Shifting your money mindset is an important step towards achieving financial stability and creating more opportunities in your life.

    By adopting an abundance mindset and changing your money habits, you can take control of your financial future and build a positive relationship with money.

    I encourage you to take action today and download the Intentional Budgeting Workbook to get started on your journey toward financial freedom. With the right mindset and tools, you can achieve your financial goals and create the life you deserve.

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