Do you constantly feel that you never have enough money?

In fact, if  any of this describes you, chances are you have a scarcity mindset.

1. You worry excessively about the future instead of living in the now

2. You constantly think and feel that you do not have enough money

3. You don’t have a lot of self-worth

4. You believe that resources are limited and there’s not enough to go around

5. You use up the money that you have quickly because you are afraid that you would lose it

But what’s the big deal about having a scarcity mindset? What harm can it do?

Well, having a scarcity mindset can actually wreak havoc on your life.

Here are 3 painful ways that your scarcity mindset is ruining your life without you knowing (and what to do about it).

Painful Way #1: Your scarcity mindset ruins your dreams

What is a dream that you have that is currently beyond your budget?

Do you dream of going on a holiday to a faraway place and experiencing raw natural beauty?

Or treating your family to a fabulous 3-star Michellin meal and bonding with them?

Or could it simply be buying yourself an expensive gift to appreciate yourself for all the hard work that you have done?

Notice when you think of spending that big sum of money to fulfill your dreams, there is a slight flutter of fear in your heart that says, “I can’t afford it now”? 

The moment that you say, “I can’t afford it” out of habit, it automatically limits you.

But if you ask, “How can I afford it?” That’s a different question that gets you there.

So instead of saying, “I can’t…” ask “How…” instead.  

Be specific on how much money you are short by. Create a plan to get what you want and take action. Perhaps you can take side jobs, create a business or ask for that long deserved pay raise to help you chase after the dreams that you want.

Life is short, don’t spend time dreaming, just do it. 

Pro Tip: You can also set aside a “Bucket list fund”. Use an automatic transfer to put money into a separate bank account that is only used to fulfill your dreams. If the bucket list money in the account is not used by a defined date, set an automatic donation to a charity of your choice. 

Painful Way #2: Your scarcity mindset ruins your mental, emotional and physical health

Do you know that a scarcity mindset makes you stupid?

Your brain has limited bandwidth, so any attention that you use to focus on the lack cannot be used somewhere else. 

In fact, it’s been scientifically proven that a scarcity mindset reduces IQ by about 13 points, which is about the loss of an average night’s sleep. 

A scarcity mindset also results in chronic stress, which is linked to a number of preventable illnesses like heart disease, depression, weight gain, and strokes.

So what can you do about it?

When you start worrying about things that you don’t have, stop.

Start appreciating the abundance that you already have by asking yourself these questions.

Do you have friends? 

A supportive family?

Food in your fridge?

A roof over your head?

Are you in good health?

Spend the time instead being grateful for the things that you have. And work towards the things that you want but currently do not have. 

Worry does not get anybody anywhere. It just wastes energy and stops a person from progressing.

So stop that worry machine, tell it to shut up and get on with your life.

Painful Way #3: Your scarcity mindset keeps you stuck in your miserable job

Are you in a job that you don’t like but cannot quit because you can’t afford it?

Maybe you keep serving unprofitable customers who drain you emotionally. Or maybe you tolerate an unreasonable boss because you don’t think you deserve better. Whatever it is, you look forward to the weekend much more than you look forward to Mondays.

Tough love question here: If the job that you are in irks you so much, what are you actually doing to get out of the situation that you are in? 

When did you last learn skills that would help you to get out of this job? Did you do a reality check and look for opportunities in the market? Did you spend enough time building that side business that you need to have up and running before you quit?

Take a good hard look at your life. You are in this situation because of the choices that you made. Unless you make the choice to get out of the situation you are in, you will remain stuck.

What do you need to do so that you can live the life of prosperity and abundance that you want? 

Do you need to go to night classes to get the skill sets you need to get the job that you want? Start a business? 

Plan what you need to do then burn the midnight oil and work towards that life. Do whatever it takes to create that life.

You can do it if you put your heart, mind and soul  to it… I know you can.

Closing Words

The life that you want is in your hands, if only you can get out of your head and start doing the work towards the life that you want. 

Life is too short to worry that you never have enough. 

Imagine what life would be like if you were not run by a constant worry machine. You could use that energy to do so much more in life. You can spend more time with your loved ones. You can have more hobbies. You can fulfill the dreams that you have parked aside for so long.

It’s never too late to start. So go ahead now, the moment that you finish this article.

Use the tips outlined in this article, beat your scarcity mindset, and begin really living today.