Why the scarcity mindset is letting you down

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The way you think, and act has a great impact on your personal finances.

The impact could either be negative or positive. That’s why you need to be deliberate about feeding the right things to your mind so that your actions are in tandem with your financial goals. I will dwell mostly on the negative thoughts and actions that impede the implementation of your financial goals.

Given that the first month of the year is over, you can tell if your 2024 is getting off on a good or rocky start when it comes to implementing your financial plans.

Some of the areas to look at are your thoughts and deeds and identify those that derail your goals. One pointer may be your inclination to giving up easily. If you want to grow your money, you need to persevere, until you get the desired outcome.

An undesirable outcome from a first attempt should not compel you to give up your plans. Find a way to go around the challenge. For instance, if you propose to get a gig as a way of improving your income, but are yet to land on any, that should not mean that you should give up.

Another issue to investigate is what areas you are prioritising when it comes to building wealth. For example, instead of focusing on growing wealth, you may think that public display of possessions is a reflection of being wealthy.

Scarcity Mindset: Causes and How To Overcome It

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