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In today’s world, many of us experience what is commonly known as having a money-scarcity mindset, no matter how much money we have. This mindset, deeply rooted in fear, limitation, and our ancestral DNA, can significantly impact our overall well-being and relationship with money. Rather than following what we have been taught with the financial industry of restrictive budgeting and excessive saving, there exists a path toward empowerment and authenticity by shifting our perspective toward sufficiency and then abundance.
Understanding the Money Scarcity Mindset
Having a money scarcity mindset manifests itself in various ways, from constant worry about finances to feelings of inadequacy or fear of never having enough. I have found that this mindset and our state of being (how we feel in our bodies on a regular basis) are often triggered by actions we take with our money. For example, we desire to go on a vacation, and then we see the price to get us there. Or we know we want to invest in certain parts of our business, yet we are concerned about investing the money. These habits and behaviors can continue for years if we aren’t aware of them. What I have seen in clients is that this fear of not having enough money has come from an experience in childhood. There was an event or multiple events that occurred, and the brain’s remedy to this problem was to become hypervigilant so that we don’t get ourselves in a similar situation again. And although we can truly appreciate what our brain is trying to do for us, we can also see that living with a money scarcity mindset impedes our growth, limits the joy in our lives, and impacts our decision-making within our business and personal life.
Shifting Perspectives: Getting to Abundance Through the Path of Sufficiency
From my own personal experience and the clients that I have supported, I don’t think our minds or bodies go from scarcity to abundance. There are phases in between, and we toggle between them as we are on our journey to feeling and being abundant. I believe that sufficiency happens before we reach abundance. For many of us, we are in such a fight or flight state of being, and abundance is too far outside our window of tolerance to even feel abundant. Sufficiency is the next step. It’s a baby step that doesn’t shut our nervous system down and yet allows us to realize that we are safe and OK TODAY. Even though we have plenty of money in our bank accounts, our brains and bodies don’t believe that. So telling yourself you have “plenty of money” or saying affirmations like “I am abundant,” even though for years you have believed you don’t, is too far of a jump. Embracing sufficiency and showing yourself where you do have money for today and that all of your needs are met today that is what seems to help us work through getting from scarcity to sufficiency and then abundance.
Practical Steps to Cultivate Sufficiency
- Recognizing Your Worth: Begin by acknowledging your inherent value beyond what your bank account or business reports state. In a world where we are praised and valued for what we DO and OFFER, focusing on where you already are enough is key. Like anything else, this might take time and deconditioning. I didn’t realize how many stories I had tied to my worth and the amount of money I made and accumulated until I decided to take time off from work. When I didn’t have the distraction of work, I was left to go inward. You are valuable because you exist. You are worthy because you exist. A wonderful book that I loved that helped me see this was Self-Compassion by Kristin Neff. One exercise you can do for yourself is ask yourself: When did you stop feeling worthy? Get curious about this. And you can ask yourself if you feel a baby is worthy just because he/she exists. Then start playing with the ages. Is a child at 2 still worthy? A child at 5? For clients, there was a point in time that they learned they needed to “earn their keep,” and this ties into their worthiness. We are conditioned out of feeling worthy. You can journal on some questions like, What do I believe I have to do in order to feel worthy? Do I believe other people are worthy because they exist, but I don’t? Where are you conditionally allowing yourself to feel worthiness?
- Gratitude Practice: Cultivate a habit of gratitude by acknowledging and appreciating what you already have. I know that gratitude and gratitude practices are thrown around a lot in the self-development world. And when we do this from a place of “should” versus actually feeling what gratitude and love feels like in our bodies, we are missing the point. In the beginning, this might take more effort because we are typically so focused on what is “going wrong” in our lives. Our brains are amazing tools and are here to protect us; we get to decide how to use them. Gratitude is a practice and a skill. We get to be in the habit of finding things we are grateful for and focusing on this daily. Set a timer on your phone several times throughout the day to remind you to focus on what you DO have. Or another option is when you transition from one task to another, group a gratitude practice in there. For example, if you are getting up from your chair to go to the bathroom, use that as a time to focus on what you are grateful for. It doesn’t have to be with money; in fact, in the beginning, I suggest we don’t. Find other things that you are grateful for with your body, your family, your friends, the earth, etc. The Universe doesn’t know the difference; it just knows vibration. I had to start so small in the beginning. Things like freedom to move my body, eyesight to see the beautiful birds, and health. This practice not only shifts your focus away from scarcity but also attracts more positive experiences into your life because you are raising your vibration. And the Universe responds to vibration (our state of being), not what we want or where we want to go.
- Aligned Spending: Align your financial decisions with your values and goals. The financial industry has taught us to minimize our expenses for future living, and I don’t agree with this entirely. Instead of feeling restricted by a budget, view financial management as a tool for achieving personal fulfillment and long-term security. Sit down and really ask yourself: What are your values, and are you spending your money in alignment with that? A simple review of your most recent credit card statement will give you some insight. Have fun with this. You get to have an allotted amount to spend monthly; how do you want to circulate this money?
- Investing in Self: I believe our biggest asset is ourselves. Investing in how we think and feel is so important. Prioritizing personal growth and development as investments that yield lifelong returns. Self-development isn’t just about education and skill enhancement; I believe part of self-development is getting into our bodies, regulating our nervous systems, playing, and being kids again so we can connect to our bodies.
Empowering Practices for Financial Well-Being
- Setting Powerful Intentions: Define clear goals and intentions for your financial journey. The Universe loves when you declare exactly what you want. I’m sure you have heard the example that the Universe is like Amazon. It’s just waiting for you to declare and be in the vibration of having what you want. Setting specific goals and being aware of these goals provides direction and motivation for making empowered financial decisions. Imagine you already have what you want; how would you show up on a daily basis? What would you be thinking about? How would you feel in your body? What actions would you be taking?
- Doing somatic work: Getting into your body is so important in order to change your state of being from one of lack and scarcity to sufficiency and abundance. Many times, clients will come to me and think they need to work on their “money mindset,” and what I have found is we actually have to get into the body. We have to be with the parts of ourselves that were split off so long ago. We came to this earth feeling abundant, and then we were conditioned into scarcity. You know your body best. If you feel like you would like to have someone support you along this journey, reach out to them. In the beginning, I found somatic work to feel intense in my body. I could only feel the intense feelings in my body for a couple of minutes at a time. If this is you, it’s OK. Just start. You can simply put your hand on your heart and reassure the little part of you that you are safe and OK right now. These EFT exercises can help inspire you to get into your body more.
- Journaling is another powerful practice because it allows us to see the stories that we are telling ourselves. We get to see things on paper and decide if we want to keep these beliefs or not. I view beliefs like a suitcase; we get to decide when we want to stop lugging around those old beliefs and carry around new ones. If we don’t put our thoughts and beliefs down on paper, we can’t see them as separate from us. We are not our stories and beliefs.
- Community and Support: Surround yourself with a supportive network of individuals who share similar values and goals. Collaboration, being vulnerable, and sharing your experiences can provide encouragement and practical insights for navigating your financial journey. I truly believe that the more we are connected, the more we can be supported.
Looking for a supportive community to heal your money scarcity? Check out the Grow the CEO mastermind group here: https://generatealifewelllived.com/grow-the-ceo/
My Final Thoughts
Evolving your money scarcity mindset is not about adhering to strict financial rules or chasing after a known dollar amount that you think will make you feel safe and secure (Lord knows I have tried both and they didn’t work). We live in an inside-out world. What we feel and believe on the inside is always reflected to us externally. There isn’t enough money in the world that will make us feel safe and secure. It’s about embracing sufficiency and then ultimately abundance in all aspects of your life, recognizing your worth, and making empowered choices that align with your values and goals. I believe that by doing this deep soul work, you can cultivate a positive relationship with money and create a life filled with joy, prosperity, and fulfillment.
As always, from my soul to yours,
Erin.