Tag: psychology of money
Rich Thinking vs Poor Thinking: Embracing an Abundance Mindset
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In this video I’m going to reveal the key differences between rich thinking and poor thinking to help you crush your goals. Coming up! Hey, I’m Dr. Brad Klontz, your financial psychologist! On this channel, we help you transform your relationship with money, master the psychology of wealth, and live a life of abundance! So, if you’re new here, please subscribe and click the bell so you don’t miss anything! Studies have shown big differences between how rich people think compared to poorer people.
The secret is this: your beliefs about yourself, the world, and what’s possible are entirely created by you, in this moment, and they determine your results. Now that’s heavy. One of the biggest differences is that poor thinking is all about a scarcity mindset. If you want to enjoy wealth and success, you need to abandon your scarcity mindset. Scarcity is defined as the state of being scarce or in short supply. It means deficiency, deficit, inadequacy, or undersupply.
Yuck. Now look, I know that for many of you money IS in short supply, at least right now anyway, so it makes sense that you’re experiencing some scarcity. But the problem with scarcity thinking is that if you aren’t careful it consumes you – like a dark, stinky cloud that covers you. You see scarcity all around you – not just not enough money, but not enough love, not enough opportunity to go around, a lack of trust – when you are looking for it, you can see scarcity everywhere. See if any of this fits for you: When someone is nice, do you assume that they have a hidden agenda? When something good is happening, do you hold back your joy because you’re waiting for the other shoe to drop? If you fall in love, do you become paranoid and worried that you’re going to get hurt. Do you not trust your business partner? Are you so afraid someone will steal your business ideas that you don’t share them with anyone else? Do you doubt that opportunities exist for you, so you don’t bother looking for them? Do you think you aren’t smart enough or worthy enough to be successful? If you said yes to any of these questions, please know that I get it! I understand.
Of course you believe these things. You’ve been hurt by others – perhaps even by the people you should have been able to trust the most. You grew-up poor. People have taken advantage of you. You’ve been let down. You’ve been disappointed. You’ve tried, and tried, and tried but have failed. You’ve arrived at a scarcity mindset honestly. In fact, you’ve probably inherited this scarcity mindset from the people who have let you down. In many ways they’ve disappointed you because they had a scarcity mindset themselves – believing that they need to take from you because there isn’t enough to go around. The real problem with scarcity thinking is that becomes a self-fulfilling prophecy. When you don’t trust someone else, they will start to become untrustworthy. As your paranoia grows, they’ll start to get anxious and worried about upsetting you, so they’ll start hiding things from you and sure enough, when you catch them, you think ha, I knew it, I can’t trust anyone! But did your scarcity mindset help create this situation? When you’re anxious and you hold back the depth of your love because you don’t want to get hurt, before long your lover will leave you.
He or she will prove your scarcity thinking right, because you helped create it. If you’re desperate for money, people will sense you’re only out for yourself and they’ll avoid you, like the plague. They’ll end up despising you. If you’re only out for yourself, rich people will avoid you, and so will wealth. A scarcity mindset stinks and it can be so contagious, so people who are truly rich, people who live in abundance will avoid you.
If you want to think like the rich, if you want to get rich. you need to embrace an abundance mindset. Abundance thinking is the total opposite of scarcity thinking. Abundance is defined as a large quantity of something. Synonyms for abundance include boatloads, globs, oodles, plenty and heaps. Abundance assumes that there is plenty to go around – plenty of love, globs of money, and boatloads of opportunities. When you embrace an abundance mindset, you start seeing opportunities all around you. Doors begin opening for you.
Doors that have always been there but you hadn’t noticed before. When you’re living a life of abundance, you give love fully, deeply, and fearlessly, without regret. And of course, your lover loves it! In fact, everyone loves it! They want to be around you. They want to share your passion. They want to do business with you. They want to buy your products. They want to spend time with you. They want to help you, because your abundance mindset is contagious, and it feels so good to be around you. When you have an abundance mindset, instead of fearing sharing your ideas with your “competition,” you look for opportunities to share with them – to collaborate with them.
To work together. You help them grow, and guess what happens? They help you grow! You’re totally committed to your business partner’s success so committed that he or she would never think of betraying your trust – they would be a fool to do so, because you keep bringing so much to the table. So how do you abandon your poor thinking for rich thinking? Let’s do it right now. In this moment. Let”s do an experiment. Right now – You have a choice: You can spend the next 10 minutes focusing all your attention on your problems, on your failures, on your betrayals, on all the barriers to your success. Or, you can spend the next 10 minutes getting excited about searching for and noticing the opportunities around you – the beauty, the love, your strengths, your passions, your goals, your gift to the world – a gift you must give to the world – and you definitely have one, I promise! Embracing an abundance mindset IS the pathway to success and it feels great, and don’t you want to feel great? Special thanks to Your Mental Wealth Advisors and the Heider College of Business at Creighton University for helping sponsor this channel.
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