A wealth mindset is a term used to describe a really positive attitude toward money. A wealth mindset entails a thorough understanding of your family’s budget and spending habits, but it is much more than profit and loss. A wealth mindset extends to other aspects of life, such as, but not limited to:
Relationships, health, and respect for others are just a few of the topics covered.
Before we get into the wealth mindset, let’s take a look at its polar opposite: the poverty mindset. The poverty mindset stems from a sense of scarcity. There is a sense of not enough or too much competition, a poverty mindset pits people against one another. A poverty mindset sees others as a threat or someone out to take what is rightfully yours. People with a poverty mindset are busy hoarding everything they have – money, resources, love, and so on – in order to avoid facing dire consequences.
A wealth mindset is born from a place of inclusion and unlimited resources. A wealth mindset believes that there is more than enough for everyone and that the more you share, the more you have. A radical departure from the poverty mindset. In fact, shifting your mindset from poverty to wealth can be a game-changer in every aspect of your life. Finding wealth in your bank account frequently leads to wealth in other areas of your life. Being financially fulfilled allows you to do more, be more, and give more.
A poverty mindset keeps people constantly running on a hamster wheel, grinding out more and more in the hopes of reaching a financial goal. They frequently believe that once they have achieved their goal, they will be able to consider being even more generous or open to others because they will have more resources. The truth is that living with a poverty mindset makes people fearful and stingy, and achieving their goals rarely changes their habits. They become overly protective of what they have because they worked so hard to obtain it.
Switching from a poverty mindset to a wealth mindset isn’t as simple as flipping a light switch. To overcome years of poverty thinking, a deep dive into the mindset and habits is required. The really good news is that it is achievable! The first step is to recognize that having a lack mentality is not a good way to show up on a daily basis. Life is meant to be lived and shared with others. Changing your mindset to be more wealth-focused can be accomplished one small step at a time.
