6 Signs You Have a Scarcity Mindset
By Becky Mollenkamp, ACC
You may have a scarcity mindset if statements like these sound familiar…
“Who am I to charge $____?”
“Why would anyone ever pay me $____?”
“I’d have to work endless hours to make $____.”
I hear some version of these statements from most of my coaching clients. It pains me to hear them, but I also understand them.
Thankfully, my days of the feast-famine, calm-crazy financial cycle are over. After lots of hard work, I’ve shifted from a scarcity mindset to abundance thinking. I’ve developed practical strategies for overcoming fears, pushing past doubts, and finally believing I can and will make more money.
Not sure if it’s scarcity thinking that’s holding you back from making more money? Here are six signs:
1. Constant worry: Money is almost always on your mind. You’re stuck in a worry cycle, spending hours a day (and losing sleep at night) over your fear of not having enough money.
2. Judgment (aka secret envy): You think rich people are arrogant, lucky, spoiled, rude, etc. and having money is bad. It’s easier to say you don’t want money than to deal with your guilt, shame, or other negative feelings about it.
3. Avoidance: Money goes as quickly as it comes in. You’re “bad” with money and don’t want to deal with it (after all, “If I have money, I’ll just lose it”) so you don’t bother with pesky things like bookkeeping.
4. Low prices: You’ve priced your way to the bottom of your industry because no one would ever pay a premium for what you do, right? When someone says you’re too expensive, you believe them.
5. Overspending: Shopping is fun! You buy without thinking, spend everything you have, and use shopping like others use alcohol or food. Hitting “buy” is like a warm cozy blanket.
6. Underspending: Shopping is evil! Every penny you spend now is one less you’ll have in the future when you may need it more. “I can’t afford it” is always your go-to response (whether you’ve looked at your accounts or not).
Recognize yourself in any of those? Are you letting any of these pesky mindset problems hold you back? If so, make this the year you finally conquer your scarcity mindset and start thinking like a millionaire.