5 More Red Flags That You Have A Lack Mindset

You can watch my full YouTube video on this topic here!

You may have heard people talking about having a lack or scarcity mindset, which is the opposite of having an abundance or wealth mindset.  But what does having a lack mindset really mean?  Why is it so important to level up your thoughts about abundance important if you want to become wealthy?  Read on for more!

A lack mindset basically means you have a fixed belief that your resources, opportunities, and possibilities are scarce and limited.  This is not the case, but many people end up unable to reach their full potential in life due to having a lack mindset.  Think about it: if you truly believe you can’t do much to improve your life, are you even going to try very hard to change things?  Read Carol Dweck’s book for more on changing your mindset.  You can also watch my full YouTube series on wealth mindset secrets here!

While a lack mindset often has its roots in a very real and traumatic experience of poverty or financial hardship, you don’t have to stay stuck there! Acknowledging you have a problem is the first step towards a healthier money mindset.

Here are 5 more signs that you are struggling with a lack mindset:

1.   Constantly worrying about the future:  you may find yourself obsessing about what the future holds, which often stems from a fear of potential loss or not having enough money or resources to meet your needs.  While some concern about this is normal, being preoccupied with the financial setbacks you might have in the future can cause a lot of unnecessary stress.  Sometimes worry feels like we’re doing something about our problems, but in reality it just keeps us tied up in knots.

2.   Feeling financially stuck or trapped:  if you believe that there are limited resources and opportunities out there for you, you’re less likely to try new things, make mistakes, fail at things, and take risks.  This can result in your feeling stuck and unable to ask for a raise at work, learn investing skills, and do other things that could help you become wealthy.

3.   Feeling guilty for past financial mistakes and losses: if you have a lack mindset, it makes losing money just that much more painful.  We all make money mistakes, but if you find that you’re constantly beating yourself up over a deal that went south years ago, a poor career move, or a bad investment, it’s likely your lack mindset is magnifying the importance of this lost money.  The best thing to do right now: be kind to yourself. Forgive yourself for past mistakes, and move on!

4.   Not investing in yourself:  if you feel like spending money on your education, personal development, and even perhaps your health just isn’t worth it, you’re buying into the biggest lie lack mindset has to offer. You are your own best investment!  Just remember that if you’re not willing to invest in yourself, no one else will be either.  As you invest in yourself, your confidence, courage, and self-esteem will start to improve and your whole life will begin to move in the right direction.  It doesn’t happen overnight, but it is 100% worth it to become the very best version of yourself and spend the money you need to spend to make that happen.

5.   Feeling like you don’t deserve the good things in life: if you find yourself thinking (or saying) that you don’t deserve success, happiness, health, wealth, good relationships, and so on, it can lead to self-sabotaging behaviors.  You have to start telling yourself and really believing that you are worth having the best in life before you can even start taking the steps to make your dreams come true!  Affirmations are very helpful as you learn to adopt a healthier mindset, including these card decks here and here from Louise Hay, who was one of the world’s first mindset teachers and authors.