Money Mindset

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Money Mindset – How To Change Your Mentality Around Money From A Sense Of Scarcity To Abundance

Mark Ford | Home Business Lifestyle Consultant
Mark Ford

In this article Mark Ford looks at the relationship that people have with money and reveals some incredibly simple things to help you transform your money mindset from one that is constantly worrying about how you are going to pay the bills to a mindset that embraces an abundant money mindset.

So is money your friend or your foe? We all need money to survive, there is no getting away from that fact but for the majority of the world’s population money is something that they have a love hate relationship with.

Most people live from pay cheque to pay cheque. When that deposit hits the bank account at the end of the month there is a great sense of relief but over the course of the next 30 days that sense of relief slowly diminishes.

You see the amount gets smaller and smaller because you must spend on an ongoing basis to have the basics in life, but you always get the sense of not having enough money and what are you going to do in the case of emergencies.

What if the boiler goes on the blink so there is no hot water or heating, what if the car goes bang how are you going to get to work, the kids need new shoes, or it is that time of year for new school uniforms?

All this stress and worry going around your mind is not good as you and millions of people all around the world have fallen into the scarcity money mindset. Let’s look at some ways that you can make that mindset shift from scarcity to abundance.

money mindset
Money Mindset

Money Mindset – Be Grateful

If you just had a little bit more coming in then it would go along way but before I go any further then I just want to say something that may have a sobering effect on you, well I hope it does. At this point I want you to ask you to feel grateful for what you have got, look at your life. Have you got a roof over your head? Have you got food on the table and clothes on your back? Do you have heating to keep you warm in the evening?

Maybe you have got a nice phone, cable television or an iPad? If you have any of these then I am afraid it is time for a reality check as your life is not that bad. Did you know that 80% of the worlds population live on $10 a day or even less! There is such a huge disparity between people’s income all around the world.

Around 40% of the world’s population only accounts for just 5% of the world’s income and 20% of the richest people in the world account for three quarters of the world income. This is a shocking statistic I found while doing a bit of research for this article, over 20,000 children die every day due to poverty!

I am sure that when you think about this it may help you to put things into perspective?

Therefore, one step to take to shift your money mindset is that is you moan that you can’t go out to the cinema then there is always someone worse off than you. That is not to say you can’t have the nicer things in life, far from it but it is not the be all and end all.

Money Mindset – Planning & Budget

money mindsetWe all need direction in life and when it comes to money there is no exception. Creating your own financial plan will help your money mindset shift from scarcity to abundance. Many of us don’t have a clue how much money we have coming in and going out during the course of the month, so it may not be as bad as you may think.

Sit down and take some time to analyse your finances, a simple way to do this is to have two columns, one for income and the other for expenses. List down all the expenses that you need to survive, mortgage, rent, food, clothing, heating etc. Then list down all the non-necessities you that you spend money on.The other side of the page is your income so compare that to all the essential commitments. The chances are that your income is more than enough to cover those so instantly you have moved away from scarcity, the pressure of worrying about how you are going to survive is gone because it is down there in black and white.

A sense of abundance will come over you because you have what you need and then you can look at what else you spend your money on and decide whether you need those things in your life anyway. Maybe you can put that money to better use for yourself or the people around you. Abundance is not always about the money you have it is what you can do with it, maybe you are charitable and want to help people less fortunate than yourself and now you realise that you can do just that.

Now I am not about suggesting you do something without doing it myself. I have found that by using every single morning, for many years now, computer software to add up business and personal income and expense it has enabled me to keep on top of cashflow and know exactly where I am financially. I am not sure I would have survived through some very tough times without doing this. I would have been in a mess.

A business needs to be administered is an obvious statement but how many of you shy away from book keeping because of fear or you say; “I hate numbers”. I would ensure that you have this covered in your home business, either by doing it yourself or outsourcing it, and know exactly where you are with everything recording every financial transaction as you go along. You can then submit this to your accountant for the annual accounts and tax returns that will need to be filed.

Money Mindset – Don’t Compare Yourself To Others

There is a saying “keeping up with the Jones’s” especially in the United kingdom where I am from. Jones is a very common surname so that is why it is used in the saying. What this means is that in general people try and compare themselves to their neighbours, their friends and their family.

You may see your neighbour come home one day with a brand-new car, one that you may have had your eye on as well. For many people they think that they must be the same as others but stop for a moment and think of this. Your neighbour may have just signed up to a hire purchase or lease purchase agreement for the next five years, paying hundreds every month for that luxury. They have just put themselves into the scarcity money mindset because eventually they will start to worry how they can afford to meet the payments.

Is this what you want for yourself?

Money Mindset – Set Up A Piggy Bank

money mindset

You may be scratching your head at this and say, “Mark what are you on about, a piggy bank!”. There are some little things in life that don’t cost a lot but can mean everything. With a scarcity money mindset, you may be scared to contemplate going out for the evening with your loved one, a date night in other words, so you never get to do it.

We all have lose change, even in this digital age where we tend to do a lot of our transactions through plastic. Physical money is still around us so when you go to the shop and buy something for cash you will get some change back. When you get back home put that change in a jar, tin or bottle, it doesn’t really matter as over the course of a few days and weeks that will build up and you won’t miss the money.

At the end of the week or month crack it open and you will be amazed at just how much you have saved. Then go out for the night and enjoy yourself. A trip to the cinema, a nice meal out or even something as simple as an ice cream at the seaside. You will experience abundance in your life and have that feeling of gratitude. Priceless!

Money Mindset – Change The Way You Talk About Money

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I don’t mean how you talk to other people about money. No, I mean what you say to yourself whether out loud or in your head. For example, we have all said to ourselves that “I will never be able to afford that”, why not? Negative thinking only results in negative things happening. What you should be saying is “what can I do to be able to afford that?”. When you enter this positive money mindset then things will happen.

You start to take action, this could be getting another job with a goal in mind (what you want), or you may look into creating your own additional income streams by working for yourself part-time. Opportunities to work from home are endless and there will be something that is perfect for you.

When people start to think what they can do they instantly enter the abundance money mindset, opportunities become clear and they can see endless possibilities.

Money Mindset – Let Go Of The Past

Whatever habits you have formed in the past to get you into a scarcity way of thinking you must let go and form new ones. If you don’t then you will never change the way your life is. Write down things that have given you a bad experience about money to see if there is a particular pattern that has been formed, then work out how you can change that pattern.

The important thing is not to beat yourself up about it, don’t let it form a chip on your shoulder. Forgive yourself so you can get over it and move forward.

Money can be destructive if you don’t control it by creating a positive money mindset. Once you have this money can then be something that you can have a great relationship with to gain that feeling of abundance. I hope that this article has helped you understand more about money and how you treat it along with giving you some great insights on how to change your own money mindset.


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Mark Ford | Home Business Lifestyle ConsultantMark Ford – Home Business Lifestyle Consultant, loyally stepping up for others SO THAT they are given inner peace. Registered Office: 13-15 Commercial Road, Hayle, Cornwall, TR27 4DE, United Kingdom. Registered in England No. 8927341.

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Business Website: Nice Money Publications.com


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