Scarcity or Abundance Mindset - 6 Questions to Ask Yourself, and 4 Actions to Shift Your Mindset
I am confident that you have heard the terms scarcity and abundance mindset, but today I want to help you dig deeper into this, and ask yourself some hard questions to help you discover where you stand. I want you to know that no matter where you are starting, being aware of where you are is the first step to making changes!
These are things I never really gave a lot of thought to before becoming a financial coach. Now I can see that paying attention to your behaviours and thoughts in these situations can help you understand yourself better! So let’s dive in!!
1- Am I a money hoarder? Are you always saving and never spending on things and experiences you love? It’s great to have the habit of saving money, but if you have a scarcity mindset, it is all about saving because you are in a constant state of worry. Worry that the money will stop, that if it does stop, it’ll never start again.
2 - How do I feel when I see others spending money on an item I perceive as a luxury? Suzy and Joe just bought a new car, and Jenny is heading on another vacation, que the eyeroll and the judgement. How do they afford it? They’re always ‘blowing’ their money. They must be in huge debt. They are so irresponsible. If you find yourself silently judging how others are spending their money-hello scarcity mindset!
3 - How much time do you spend worrying about money? Is money a constant thought for you? Do you find yourself worrying about where it is coming from, and where it is going? It’s great to have a plan and know where it is going, but when it goes past actively managing your money to micromanaging and worrying about it constantly - these are red flags!
4 - Is your pricing at the bottom end of your industry? To you bosses out there, if you have bargain basement prices, and break out into a cold sweat when you even start thinking about a price increase, you’ve got a bad case of scarcity mindset. If you have thoughts of ‘my customers will NEVER pay THAT price for my products or services’, it’s time to push outside of your comfort zone and get some help on pricing. This is one of my favourite things to do with clients!! If you know you’re ready to push past the scarcity mindset and make a plan for your money and your pricing, CLICK HERE to book a free call with me. Having an outside perspective will be a huge help for you!
5 - Do you think or say the following phrases? I can’t afford it. I’ll never be able to… I don’t know where my money is going. I know this sounds cheesy AF, but if you think and speak phrases like this, you WILL create your reality of not being able to afford shit, and being broke forever. Our minds are powerful and our thoughts become reality.
6 - What kind of tipper am I? Think about the last time you got a haircut, or went out to eat. This is especially true right now, when so many businesses and service providers have had a tough year. If you are being a stingy ass tipper right now, it’s time to get to work on your scarcity mindset, because you’ve got it bad.
Now I can’t end this here. If I’ve opened your eyes to you having a scarcity mindset, here are a few actions to take to shift to an abundance mindset. The shift won’t happen overnight, so be patient with yourself.
1 - Focus on gratitude. Integrate a regular gratitude practise into your day. Write down 3-5 things you are grateful for each day.
2 - Spend more time with people that have an abundant mindset. Your circle should inspire you and lift you up!
3 - Do more of the things you love. Say no to the things that you aren’t excited about.
4 - Spend time visualizing and journaling about the life you want to live.
No matter where you are right now, I want you to know that YOU are in control of your mindset. YOU can make the shift. I want you to know that putting in the work will help you change your perspective and changing your perspective will change your life. By working on having an abundance mindset, you will find and see money opportunities that your mind was previously closed to. Trust me!!
-Sherry
