Welcome to the first post in my new series on Money Mindset! Over the next several posts, we’ll explore how your beliefs about money shape your financial reality—possibly more than you think!
The Numbers Tell the Story
Did you know that nearly 70% of women wish they had started investing earlier? And nearly 60% feel they lack financial knowledge? These findings, from a recent Fidelity study, highlight a common thread: many of us feel held back by a sense of scarcity. This can show up as a feeling that there’s never enough money, or that financial security is always just out of reach.
Does that resonate with you? If so, you’re not alone. I’ve seen this mindset in women of all backgrounds—regardless of how much money they actually have. It’s not so much the dollars in your account, but how you think about and interact with your money that makes the difference.
Scarcity vs. Abundance: What’s the Difference?
When you’re stuck in a scarcity mindset, you might feel anxious about money, or avoid dealing with your finances altogether. You may be afraid to take risks, believing that once something is lost, it can never be regained. You may even get irritated when you see other people succeed – because the underlying belief is that their gain is your loss. When you think that there is only so much to go around (scarcity), then tension sets in. This can also show up as obsessively counting and hoarding every penny—afraid if even one is missing.
Contrast that with an abundance mindset: seeing possibilities for growth, believing there is plenty to go around, and feeling empowered to take positive steps. It’s like the difference between a landscape ravaged by drought and an abundant garden. One visual creates tension, and the other, relaxation.
As Tony Robbins says, “Whatever you focus on is what you get.” If you focus on lack, you’ll find more of it. If you focus on abundance, opportunities start to appear – partly because you are focused on seeing them. It’s kind of like the “glass half empty / glass half full” concept. Same glass. Just viewed differently. And yielding vastly different behaviors.
How Do You Know If You’re Stuck in Scarcity?
A scarcity mindset is the belief that resources are limited and you’ll never have enough. It can lead to fear-based decisions, reluctance to invest, or even guilt about spending on necessities. It’s not about the actual opportunities out there—it’s about not being able to see or act on them.
If you believe nothing you do will make a difference, it’s easy to get stuck. But imagine if you could shift your focus and see a garden of opportunities instead of a barren desert. Sometimes, all that’s needed is a change in perspective.
Steps to Shift from Scarcity to Abundance
It might feel like a stretch, but you can move toward abundance with small, intentional steps:
- Awareness
Start by noticing when you’re thinking in terms of lack or limitation. Do you feel guilty about spending? Do you avoid checking your bank account? Do you feel upset or jealous when others succeed? Listen to your internal dialogue. Don’t just let it play. Really tune in.
- Challenge Your Beliefs
Ask yourself: Is this really true, or is it a story I’ve been carrying? Reflect on where your money beliefs come from—your upbringing, past experiences, or cultural messages. Can you find examples in your life or others’ lives that contradict these limiting beliefs?
- Practice Gratitude
Try gratitude journaling. Each day, write down one thing you’re grateful for financially—no matter how small. Maybe it’s a roof over your head or a savings account in your name. Shifting your focus to what you have, rather than what you lack, can be eye-opening.
- Visualize Abundance
What does financial security look and feel like to you? Write it down in detail. The clearer your vision, the easier it is to work toward it – or, to realize that you may be closer to achieving that vision than you previously realized.
- Use Affirmations
Repeat positive statements to yourself, such as “There is enough,” “I have enough,” or “I am enough.” Post them where you’ll see them often to help rewrite your internal soundtrack.
Remember: Mindset Isn’t Everything, But It’s a Start
Scarcity is a mindset, not a life sentence. By shifting your focus to abundance, you open yourself up to new possibilities. As Suze Orman says, “What’s keeping you from being rich? In most cases, it’s simply a lack of belief.” Positive thinking alone won’t do the work, but it will help your efforts take root and flourish. And that’s a significant first step.
Resources to Deepen Your Money Mindset Journey
To help you continue exploring and growing, here are three resources I suggest:
- Book:
Sacred Success by Barbara Stanny (also check out her other books, like Overcoming Underearning and Secrets of Six-Figure Women). Her work is packed with insights and exercises to transform your relationship with money. - Podcast:
HerMoney with Jean Chatzky—practical advice and inspiring stories for every stage of your financial journey. - Free Worksheet:
Download our “Money Story Worksheet” from the Shadowridge “Downloads” page. It’s a tool I’ve developed over the past decade to help you explore your money story. It’s free, with no catch—just a resource to help you get started.
Remember: Scarcity is a mindset, not a life sentence. With awareness, intention, and the right tools, you can shift your perspective and begin to believe in – and then witness – abundance.
Stay tuned for the next post in this series, where we’ll dive even deeper into transforming your money mindset!
What’s one step you’ll take today to shift your mindset toward abundance?
