I recently went to a publicity summit in NYC and met over 80 media representatives in 4 jam-packed days. I connected with TV producers, radio show hosts, and journalists who welcomed my passion to shift people from scarcity to abundance with their money and their life.
But, one media expert suggested something that gave me pause. He felt the word “abundance” smacks of The Secret, the best-selling self-help book that claims positive thinking attracts happiness, health, and wealth. Why would someone of my credentials: CFP, Yale MBA, Masters in Psychology, and a VP at a major bank with 14 plus years of experience bother with the spiritual self-help talk.
His advice: “You’re the real deal, so drop the woo-woo.”
I was both flattered and flabbergasted.
I’m thankful that he shared his thoughts because now I’m even more motivated to clarify why it’s important to understand BOTH.
Here are 5 reasons why your mindset and your money go hand-in-hand.
- It’s hard to do the right thing over and over again. You have to BELIEVE that you can be rich, healthy, and happy, to make the effort to save and invest in yourself on a consistent basis. Ground your thoughts in abundance first and the behaviors will follow.
- Intentions and actions go together. Take time to envision the life you want. Where do you want to go? What lifestyle do you want? Once you are clear about your destination, you can build a financial roadmap to get you there and take steps to prepare for the journey. Otherwise, you could spend your resources aimlessly and run out of gas in the middle of nowhere.
- Fear gets in the way. Desire alone is not enough to manifest dreams. Action is required. However, we fail to take action because fear and uncertainty block us from pursuing our passion. We must understand the roots of our fear so we can move past them and not let them hold us back.
- We want to feel good about what we are doing. Feelings of shame and deprivation can kill our motivation to save. So, let’s celebrate instead. Celebrate the meal you did not eat out. Over a home-cooked, my family discusses how much the same meal would have cost if we were at a restaurant. Next time you skip the fro-yo shop after your kid’s soccer game or leave a store empty-handed, celebrate it.
- It’s easy to get swayed to buy the latest and greatest. But when you identify your core values, you stand a much greater chance of winning that internal battle of wills. When you are clear about what’s important to YOU, then envy and resentment for not having what others have subside. Feeling good about who you are helps you to feel great about what you have.
There are plenty of financial books out there that can help you get out of debt and save for retirement. However, I want to make sure you are aware of your scarcity and abundance mindsets so you have the tools to help you make better choices that result in the outcomes you want. Now that’s abundance!