How to overcome a scarcity mindset
Do you ever catch yourself worrying about money? Even worse, do you have a fairly stable source of income and yet, you still worry about money? What about this? Do you sometimes find yourself minimizing your goals and dreams because you don’t think there’s enough money? Or perhaps you do think there’s enough, but not for you?
The good news is these are pretty common feelings that a lot of people experience on the daily.
Top 3 reasons people have a scarcity mindset:
- Past experiences
- Social conditioning
Your past experiences with abundance and money do not have to match your current reality. Additionally, if you look back carefully, I think you’ll find that there has been more abundance in your life than you’re giving credit to.
The definition of scarce is insufficient for the demand. When you’ve had a demand for something, starting with the necessities, were they there at a higher frequency than not? Do you have a smart phone? Netflix subscription? Gone to Starbucks lately?
Look around at all the abundance there actually is. The cars on the road right now, start adding that up. Globally, it’s nearly a 3 trillion dollar industry with over 100 billion of it here in the US.
If you’re thinking there’s scarcity on the planet, it’s something that was taught to you. Could have been upbringing, could be the media and the people you surround yourself with probably all three.
And because of this, you’re brain goes to work to validate these beliefs which for you means you become dangerously risk-averse and actually avoid opportunities that could result in prosperity while simultaneously exhibiting behaviors and thinking that reinforce the myths like it takes money to make money and only the chosen few are allowed to be rich or it’s all luck.
How to overcome a scarcity mindset?
The reality here is it is literally all in you’re head.
- Make money,
- keep money,
- multiply money.
So let’s just talk about the first part: Make money. You want to look for ways to increase your income with the intention to keep as much of it as you can so you can invest as much as you can into income producing assets.
Question for you. How many flows of income do you have? The wealthy have multiple flows of income and you should start working towards that too. First things first though, have you maxed out your main flow? Your current job, career, etc. Are you making all you can from that? Make sure you’ve maxed out that first flow.
And then it’s time to add a flow. This could be / should be something you’re passionate about. Remember that quote about hobbies from 5 Hard Questions That Will Change Your Life?
Find 3 hobbies: one that makes you smart, one that makes you wealthy and one that makes you fit.”
The first company is LiveGood.
The next company is perfect for this conversation.
Another sure fire way to release yourself of a scarcity mindset is to get the right information about money. I touched on this earlier. Your upbringing and social conditioning may be doing a real number on your mindset. It’s time to knock that out. Here’s a few ways to do that.
Read or listen to The Millionaire Booklet by Grant Cardone. This is the formula to eliminating your scarcity mindset and becoming wealthy. Also, Grant did an exclusive for Audible called The 10X Mentor and this will go a very long way in purging any scarcity thinking you have. And then you’re done with those you can head over to Cardone University for the best and most contemporary training on increasing income, sales, business development and financial freedom anywhere. Right now we’re offering a 2 week free trial at cardonesolutions.com/cardoneufree.
If you have questions or want more info, leave a comment below and let’s talk.