Abundance vs Scarcity

How can Spring help you with abundance?

When we think about Spring it brings to mind life, growth, abundance, rebirth! We can take this fertile time of rebirth to set intentions for our life, business, and money. I want you to take a moment, and think about what you love about Spring. What about it excites you? When you give thought to it, I bet you begin to think of all of the activities you can do again, creating the yard and home you love again by planting, clearing and cleaning. What does it make you want to do?

With money, it is said that the day you plant the seed is not the day you will eat the fruit. We must be able to see what we want to create. When we plant a seed for a flower we have a pretty good idea what that flower will look like, we water it and attend to it because we intentionally planted that seed and are nurturing the outcome. Setting intentions in our money and business are much the same. 

Right now, I want you to visualize all of the rich colors of spring and I want you to take out a piece of paper, your journal or your phone. Then, I want you to write down 3 intentions that you have for your business or life in general. What are 3 things that you want to grow this year?

Then, I want you to write down 3 income goals that you have for yourself. First, the number you are averaging now plus 10%, the number that you want to be making, and then finally the outrageous number that would make you want to jump up in the air with excitement! What steps can you take to begin making these numbers come to life?

After that, I want you to imagine what it would feel like to have the success of your dreams, the money in your outrageous goal, and the lifestyle that it would provide you. Write it down. Visualize it. Love it. Do it.

“Abundant life” refers to life in its abounding fullness of joy and strength for spirit, soul and body. “Abundant life” signifies a contrast to feelings of lack, emptiness, and dissatisfaction, and such feelings may motivate a person to seek for the meaning of life and a change in their life. But how do you really achieve abundance? Start with gratitude. Be thankful for what you already have and see the miracles that come from this one simple act. 

Stop making excuses.

Realize your worth and potential. You are worthy of abundance. Your decisions lead to your destiny. Do you believe that? You should. It’s true. Sooner or later, what you do—and who you really are—determines what you ultimately achieve. Think for a moment about the people you respect. Why do you admire them? You are probably drawn to them because they are full of realized potential. When we see people exerting this kind of energy, it compels us to draw ourselves closer to them and become a part of what they are doing.

Commit to living your dreams.

It is all about commitment. Once you commit to living your dreams, the lids blinding your eyes will be lifted. A completely new world will be opened to your view. You will notice opportunities that have been in your reach all along, ones your conscious mind simply didn’t pay attention to. The fundamental change taking place is your self-identity. This is the point of no return. Once this shift has happened, your whole world changes.

Stay Consistent.

Consistency is especially important in business. Restaurants, for example, must be consistent, because customers come in expecting the same good food all the time. If they slip up even one day, they lose customers. Consistency establishes reputations. Being consistent in your work and life even if you are not a business owner is also very important. Your boss will more than likely respect consistency over anything else. 

Some of us may be stuck with an unconsciousness limiting belief about money, wealth, and prosperity that life’s conditioning dropped in our laps. But we are not without the ability to change direction; we are not just left hanging out to dry. You are the author of your life; you are the creator of your world; you are the master of your destiny. We live in an abundant universe, with limitless resources. No one is ever deprived, except by their beliefs and available resources. In order to be wealthy and create your ideal life, it is necessary to think and feel wealthy – act as if.

Free Gift

Check out the FREE video series on my 3 Keys to Unlocking Your Financial Freedom! This video series touches on Budgets, Tackling Debt, and Ways to Increase Income TODAY! I created this series for those of you who have been hit hard by COVID-19. I want you to know there is nothing you can’t accomplish and creating a plan of action is always a great starting point.

Wealthy Habits

Becoming wealthy is very easy, especially with motivational speakers sharing their sugar-laced experiences. But have you ever wondered why only about one percent of the world’s population remains wealthy despite the number of books on financial success and wealth creation? You might have even taken some finance classes and still wander in the darkroom of confusion.

It is common to think that certain people became wealthy by providence or sheer luck. This is not completely true, though a little luck helps sometimes. Apart from those who inherited family wealth, wealth is made with a great deal of commitment, hard work, and consistency. Beyond these qualities, there are certain sets of habits that are specific to wealthy people, especially those that built their wealth from scratch. These habits work like a magic wand in generating wealth. 

Early Risers

You may be wondering how waking up early can contribute to success. Well, you may have to examine the lives of Larry Schultz, Tim Cook, and Richard Branson, for instance. There is a difference between waking up early to rush out for work and waking up at least three hours before work to have enough time for reflection. 

Wealthy people wake up early to meditate or write in a journal, read educational content, or get a head start on an important project. Some get good exercise or have a healthy breakfast. The goal is the same: to be proactive in setting the tone for the day. Note that wealthy people do not make email checking their top priority in the morning. They rather leave it for later in the day.

Specific Goals

Wealthy people are goal-driven. Rather than make a wish, wealthy people only set goals for themselves. In fact, poor people set the goal to become wealthy but the major challenge – unknown to them – is the “how.” Wealthy people set specific goals and know what they need to do to achieve them. 

Such goals might include accumulating a certain monetary worth within a certain number of years, partnering with a particular company, or even selling their company for a specified amount. Whatever goal they set helps to guide their actions, prioritize their activities, as well as streamline their decisions. A clear vision of one’s goal is enough motivator that can drive one to success.

Daily To-Do List

It becomes almost impossible to become wealthy if you do not know what needs to be done and be committed to doing them. According to Thomas Corley, a goal is a broader term and needs to be broken down into a list of tasks that can be completed daily. This is a common habit among wealthy people. 

Research indicates that a significant percentage of wealthy people write a detailed to-do list as well as follow it through. Irrespective of the cost involved, they don’t procrastinate. In fact, they continue to mutter “Do it now!” in their minds, especially when the thought of putting off sets in. They don’t stop until the task gets done or completed. Notwithstanding, they may be unable to complete all their to-do lists every day. Nevertheless, they complete a minimum of 70% of their daily tasks.

Daily Exercise

The most common excuse by the common people is that they have no time to work out. This is not the same with wealthy people. Despite the fact that they have the least amount of free time, they understand the importance of staying healthy and fit. Even with a whole lot of wealth, they are aware that their health has no price tag. To them, daily exercise is a regular habit. With that, they get the vitality to handle whatever challenges life throws at them. According to a study report by Author Thomas Corley, 76% of wealthy folks do aerobic exercise on a minimum of four days every week.

Healthy Diet

Feeding your moneymaking brain with fad diets and Twinkies will only leave it in low gear. It is common knowledge that a large portion of less-affluent people are less concerned about their diet and overall health. This may be a result of income and geography. Notwithstanding, the cost of having a healthy diet is not as expensive as portrayed. 

Wealthy people treat food like the fuel it is – they consume the right foods, avoid junk food and snacks as much as possible, and spend more on healthy foods. Their meals are structured so that they take a count of their calorie intake. They eat a healthy diet to live longer, thus giving them more opportunities to earn more.

Read Daily for Self-Improvement

A popular quote by Joseph Addison states thus: “Reading is to the mind what exercise is to the body.” Just like exercise, poor people do not take book reading seriously. The great number of books in the world today leaves a wealth of knowledge untapped, if unread. Wealthy people understand this and are willing to nourish their minds with enough information that can help them improve their skills and knowledge. Even if on transit and cannot read, they do not hesitate to listen to audiobooks.

Value Time

Generally, wealthy people regard time as money and time misspent as money lost. In other words, wealthy people see time as highly valuable and wouldn’t waste a bit of it, especially on unproductive activities, such as reading celebrities’ posts on social media or watching TV. Yeah, you saw that – watching TV! Wealthy people do not get relief in shutting off their brains in front of the TV. 

Elon Musk, for instance, spends a whopping 80-100 hours every week on productive activities such as exercising, reading, or learning something new. Rather than waste their time on nonproductive activities, they rather engage in things about which they are passionate, such as hobbies. Asking yourself how much money you would lose by engaging in activities that don’t produce money will help redirect your focus on productive tasks.

Build Relationships

Wealthy people understand the value of building relationships, especially the ones that revolve around their businesses. That is one of the reasons wealthy people will always be friends with one another. They build relationships with those who share similar minds or ideas with them. It is commonsensical that the relationship they build will impact their success-achievement goal. This kind of relationship can be built in many ways – at a conference, online webinar, or just over coffee. They may not necessarily be wealthy; however, they should possess the potential and drive to become wealthy. 

One other reason why wealthy people build relationships is to help them overcome the fear of speaking in public – a common fear among humans, irrespective of their social or financial status. They thus meet and engage someone new every day to build the confidence they need to address larger groups.

They Have Mentors

Many wealthy people have attributed their success to their mentors. It is not the case that their mentors have a direct impact on their wealth accumulation story. Rather, mentors keep them accountable and help them accelerate their speed of success achievement. Usually, mentors are people that have accumulated enough insights and experiences that can help their mentees cut learning time in half.

Key Takeaways

It is common to think that certain people became wealthy by providence or sheer luck. This is not completely true, though a little luck helps sometimes. There are many things that go into creating that ideal lifestyle and becoming wealthy. Incorporating growth tactics and throwing out the unproductive habits that currently keep you shackled to your not-so-ideal lifestyle will be a game changer for sure.

Free Gift

Check out the FREE video series on my 3 Keys to Unlocking Your Financial Freedom! This video series touches on Budgets, Tackling Debt, and Ways to Increase Income TODAY! I created this series for those of you who have been hit hard by COVID-19. I want you to know there is nothing you can’t accomplish and creating a plan of action is always a great starting point.

Money Mindset Mentality

Change the way you handle your money.

Do you often feel you don’t have enough money to support all of your needs? Or do you feel inadequate in your finances so you get too scared to spend or rather spend everything conversely? Despite your resistance to spending, do you still have enough? Usually, the relationship that exists between an individual who is successful with money and another who gives up easily on their financial goals revolves around their attitude towards money. 

Personal finance books, articles, or podcasts will teach you money goals, such as spending less than you earn, saving or investing for the future, and avoiding buying things you don’t need. Well, while these may be critical to achieving financial freedom, it is often difficult to implement those rules.

It is not impossible to have a financial breakthrough from a paycheck-to-paycheck lifestyle. The problem lies in your beliefs and attitudes about money or finances, otherwise regarded as a money mindset. There are two types of money mindset: scarcity and abundance. While the former believes there is never enough, the latter believes in always having enough even if the prevailing circumstances negate the belief.

As much as money is a veritable tool to solve problems and live comfortably, it can also serve as a source of worry, concern, and limitation. Your thoughts toward it drive your financial decision-making processes, such as spending, saving, investing, and handling of money. With a positive money mindset, you tend to make better financial decisions that can help you overcome challenges associated with money paucity.

Formation of Money Mindset

As the name implies, our attitudes toward money are formed by different factors, usually psychological. Your experiences with money surely have a role to play in how you perceive it. Someone who has always lived on the generosity of their loved ones will perceive money differently from someone who had to take up a part-time job in school to make ends meet. One enjoyed free income while the other had to work to earn.

Regarding our family background, kids who had their parents openly talk about or fight over money while they are growing up will end up having a deeper understanding of money than those kids whose parents never created an open discussion about money probably for fears of igniting certain emotions. 

It is common to have heard the phrase “money doesn’t grow on trees” from our parents. Such a saying affects our perception of money. It tends to make us spend within our limits, avoid buying unnecessary things, withdraw from giving financial aids, etc., thus limiting what we can do and achieve with money. However, this can never make us richer or wealthier.

The lessons we learn about money – from our parents, friends, and community at large – are mostly indirect. You may not be taught how checkbooks or paychecks work. However, when you watch your mom or dad switch off every light, don’t you think there is a certain lesson embedded in the action? Do they pay tax willingly? 

The reality is that you don’t need more money to live well or stay happy. In fact, there is a virtue in living with fewer things. The reality is that money is never enough. As long as people live, they will continue to chase more money than they need.

What You Gain by Understanding Your Money Mindset

There is a strong connection between what you believe and what comes out of the belief. Your relationship with money and attitude towards money determine what you will make of your money mindset. Research conducted by Thomas Corley of Rich Habits discovered that 53 percent of self-made millionaires were obsessed with becoming rich before they were rich. 

In another study conducted by Ramsey Solutions, of the over 10,000 millionaires studied, a whopping 97% of millionaires believed that they have the keys to become millionaires within their control. And that mindset was the reason behind their success.

Henry Ford said, “Whether you believe you can do a thing or not, you are right.” This is true to a large extent. By understanding your money mindset, you get a mindset shift. In other words, you are able to get on the path of a positive money mindset, which is the right attitude to succeed.

Changing Your Money Mindset 

If you still believe that only lucky people have money, then you are still trapped in the mindset of scarcity. It is time to extricate yourself from the long-standing myth that you need a big-income family to become wealthy, and it starts with your awareness of this self-limiting belief. Your belief, in turn, shapes your behavior. 

The following tips will help you change your money mindset from scarcity to abundance.

1. Make positive money affirmations

The problem with a negative money mindset starts with limiting beliefs that impact the way you perceive and handle your money. These have to be written off if you want to develop an abundance mindset. You need to create a new reality for yourself. For instance, affirm yourself as a successful money manager who has what it takes to transform the age-old family pattern of money scarcity. State that you invest your money responsibly and support others financially, no matter the situation. When you understand the “why” of your money, it gives you the motivation and commitment to set positive and healthy financial goals that will transform you completely.

2. Be grateful for what you have

Oprah once said, “Be thankful for what you have. You’ll end up having more. If you concentrate on what you don’t have, you will never ever have enough.” 

This is the reality of the world in which we live. Wealth is not distributed equally. Notwithstanding, there are lots of things to be grateful for, and spending more time to be grateful for those things rather than worrying over what we don’t have makes us feel abundant. Be grateful for having a roof over your head, good health, food to eat, access to clean water, and clothes to wear.

When you are grateful for what you have, you tend to be content and less tempted to spend on less important things, creating more room to spend or invest in more reasonable things. 

3. Expand your knowledge base

The books we read are instrumental to the changes and progresses we make. Leadership speaker Charles Jones once said, “You’ll be the same person in a year as you are today except for the people you meet and the books you read.” Learning about money management and money psychology will go a long way in setting you up for success, not considering the amount of money you spend.

It is through books that you can learn how to move out of debt so you can live your ideal life, understand the need to have an emergency fund, and design a game plan for your financial future. You can try out the following books: Worth It: Your Life, Your Money, Your Terms by Amanda Steinberg, MONEY Master the Game: 7 Simple Steps to Financial Freedom by Tony Robbins, Secrets of a Millionaire Mind by Harv T Eker, among others.

Key Takeaway

A mindset shift will give you freedom from overspending, paycheck-to-paycheck lifestyle, and debt. It also helps you to develop a good savings attitude and set yourself up for success. All of these tips are critical to the ultimate goal of achieving complete financial freedom. When you are grateful for what you have, you tend to be content and less tempted to spend on less important things, creating more room to spend or invest in more reasonable things. Remember that.

Free Gift

Check out the FREE video series on my 3 Keys to Unlocking Your Financial Freedom! This video series touches on Budgets, Tackling Debt, and Ways to Increase Income TODAY! I created this series for those of you who have been hit hard by COVID-19. I want you to know there is nothing you can’t accomplish and creating a plan of action is always a great starting point.