Do you find yourself saying, “I can’t save my money right now, I have way too many bills to pay” or “There’s no point in me making a spending plan, I never stick with it anyways,” or even: “At this point in my life, my credit score is a lost cause, there is no way it’s going to improve.” If you find yourself making any of these comments, you have allowed yourself to create a scarcity mindset.
But what is a scarcity mindset?
A scarcity mindset is where you limit yourself by thinking from a position of “I can’t” or “I’m not able to.” When you begin thinking in this manner in ANY aspect of your life, it appears in your bank account and allows you to become stagnant in your growth.
So, what should I do?
Change the way you are thinking NOW! Start thinking in new, positive ways and allow yourself to realize the abundance of possibilities you can achieve. You should monitor what you say and stop and correct yourself every time you use phrases such as “I can’t” and replace them with “I can” and “I will.” Focus on the positives of your lifestyle and finances, instead of thinking, “I’ll never be able to buy my dream home with my credit score,” realize what you do have. Maybe you’ve always paid your rent on time or you’re almost close to paying off your car. Whatever it is, identify your positive abundances and embrace them! Then, to allow growth and new results, think of ways to continue to improve your financial standing by making a list of goals and a plan of how you will accomplish them or making a dream vision board of everything you WILL have by the end of the year. By writing down your goals or even positive quotes to keep yourself motivated – you will begin to actually SEE your dreams as a reality.
Scarcity – Taking the First Steps to Changes
With positive thinking follows positive change.I want to encourage my AskTani followers to create a new flow of beneficial financial changes in your life by sharing ways to effectively save money and managed limited funds. First off, you should have a savings account and set aside 10% of your income into that account for each month. For instance, if you make $2,500 a month, you should be placing $250 in your savings account each month. This will total to $3000 saved at the end of the year and of course, if you’re able to put more in savings account, do it! You can even look into your bank account to see if it has an automatic savings program where a set amount of money is automatically transferred each month.
Next, make your reality a plan and get creative with it! Create a finance vision board and place it somewhere you will see every day! Whether this is above your bed, your bathroom mirror, or refrigerator, put it somewhere that you see constantly so you can always be reminded of the end result. And remember: make your vision board interactive. This could be through having a section where you can check off when you accomplished a step or item on your board! Imagine the abundance of positivity you will experience by not only seeing your goals every day, but seeing the actual progress you’ve made towards them!
My next tip for change is to successfully examine how you are spending your money. If you are consumed by scarcity and want to successfully combat it, you need to be aware of the root causes. For example, if you find yourself saying, “I don’t have the money for my dream home,” your first step to exploring your abundances is to investigate WHERE your money is going and how you can better manage your funds. Some banks allow you to view the percentages of where you spend your money each month. You may be surprised to realize that a huge chunk of your income that could be dedicated to your dream home is actually going to frivolous activities such as eating out constantly or excessive shopping. By being aware of this, you can pinpoint what changes you need to make in your spending habits.
Are you ready to take the next step to combatting scarcity? Schedule a specialized one-on-one consultation with me to take the steps to your financial freedom NOW.