8 Ways to Get Rid of a Scarcity Mindset
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What is a Scarcity Mindset?
One of the most important factors keeping many people from building wealth is the negative thoughts they have about money. Enter the scarcity mindset. No longer should you allow a scarcity mindset to hold you back. If you continue to limit your beliefs about money, you will never be able to achieve your financial goals. This is exactly the reason why I wanted to provide you with 8 ways to get rid of a scarcity mindset. However; before you can get rid of a scarcity mindset, you must first understand what it is.
A scarcity mindset is the belief that there will never be enough. It is the belief that a person will always lack certain needs and desires. Please understand that if your thoughts and beliefs about money include those of lack, negativity, jealousy, comparison, and ungratefulness, it will be nearly impossible to accomplish any of your goals. So, let’s jump right into it! Here are 8 ways to get rid of a scarcity mindset:
- Change your thoughts
- Ditch the negative self-talk
- Allow yourself to dream
- Celebrate the success of others
- Stop making excuses
- Cut the comparisons
- Change your environment
- Declutter your life
How do you know if you have a scarcity mindset?
A simple way to determine whether or not you have a scarcity mindset is if you find yourself often saying any of the following:
“I will never be able to afford that.”
“My life will always be this way.”
“The nicer things are only for rich people.”
“I can’t move forward because I’ve been dealt a bad hand.”
“All of my friends are doing so much better than me.”
“People like me just don’t get promotions.”
“Who am I to deserve a bigger house?”
“I will never be able to get ahead.”
“I have to keep these ________________ (you fill in the blank) because I don’t know if or when I will be able to get anymore.”
“All of the good ideas are already taken. There’s just not enough room for me to be able to start a business and actually make money.”
These statements are what I call limiting beliefs. What you speak out of your mouth is powerful. If you speak it, then your mind starts believing it. Then finally your actions will dictate what you’ve spoken and trained your mind to believe.
8 Ways to Get Rid of a Scarcity Mindset
1. Change Your Thoughts
The first step is simple, but might actually be the most difficult to implement. A change in mindset requires changes in habits and behaviors which often take time. You have to train your brain so that ultimately you believe that you are worthy of achieving more. You have to believe that you are overflowing with something that only you possess and that you have so much of this special thing that you are also able to offer it to others.
“Change your thoughts and you change your world.”
– Norman Vincent Peale
2. Ditch the Negative Self-Talk
This one is huge! Sometimes we unknowingly say things that cause us to exhibit a scarcity mindset. I’ve listed 10 of those statements above. Take a quick look at them again and then remove them from your brain! From now on, you should be reciting positive affirmations and speaking positively about yourself. If you are in need of a few positive financial affirmations to help get you started then click here: 20 Affirmations to Achieve Financial Freedom. Please feel free to add to this list where you see fit.
3. Allow Yourself to Dream
As we grow older, we tend to forget how to just let go and dream, because as some might say “Dreaming doesn’t pay the bills.” The inability to dream is another limitation that you may have placed on yourself. However; I’m not asking you to just dream, I’m asking you to dig deep and go a little farther than that. After you dream, take some time to actually write down the things you’ve dreamed about. Then write down ways to help you achieve that which you just dreamed of. Let’s just call these “goals.” You don’t want to write down any goals. You want to create S.M.A.R.T. goals. If you in need of a quick resource to help you draft your S.M.A.R.T. goals, then check out this post: 4 Simple Steps to Catapult Your Financial Goals.
4. Celebrate the Success of Others
Just because something good happens in someone else’s life doesn’t mean that you are exempt from achieving success in your life. There is more than enough success to go around. I believe that when good things happen in any of my friend’s lives, I know that something good is about to happen to/for me. So, cut it out with the jealousy and envy and learn to be happy for others who have achieved success.
5. Stop Making Excuses
Now, please understand that I’m also talking to myself when I say this. Past experiences have affected us all in different ways. Many of us have endured hardships and suffered more traumatic experiences than 10 people put together. However; we can’t let these experiences limit us, thus keeping us from reaching our destinies. We have to decide that we want more out of life, then actively work towards our “more.”
6. Cut the Comparisons
You were created to forge your own path which is different from any of the nearly 7.5 billion other people on earth. There’s a quote by Mark Twain that says “Comparison is the death of happiness.” This is so true! Comparing yourself to others steals your joy. It makes you think less of yourself. It’s never a good idea to base your self-worth on what others think of you. You limit yourself when you believe you should have what someone else has. Have you ever considered the fact that maybe it’s meant for you to have more? And that the reason you don’t possess what your friends have is because you haven’t tapped into your full potential of achieving more?
7. Change your Environment
If you only associate yourself with people who lack, then it should be no surprise why you also exhibit a scarcity mindset. Many people are often the direct result of their environment, which means that their behavior and thoughts can end up being very similar. You must make a conscious effort to place yourself in environments that can have the most positive impact on your life.
8. Declutter Your Life
Sometimes it can be difficult to get rid of things because of an emotional attachment. However; we will never be able to make room for new things if we don’t get rid of the old things. Stop holding on to the limiting belief that if we let one thing go, we might never be able to obtain bigger or better. This doesn’t just apply to stuff in your home either. You can declutter your calendar, computer, relationships, workspace, finances, and social media. By simply decluttering, you will be able to remove the existing limiting beliefs and gain clarity in areas where you previously lacked.
Final Thoughts
A scarcity mindset keeps you from living the life you were put on earth to live. It keeps you from reaching your full potential and believing that there will never be enough will always keep you from reaching your financial goals. If you are ready to change your thoughts and beliefs about money, then begin with the first step above and work your way down the list. As I’ve said before, if you believe you can, then you will! Stop looking at the glass as half empty and start seeing it as half full!
