How to Turn Your Scarcity Mindset Into an Abundance Money Mindset

By Mia Fox
By Mia Fox

Bestselling Manifestation Book Author of 'Become the CEO of Your Dream Life'

Are you always broke and in debt? You are not alone. There are many people who live from paycheck to paycheck, even after working hard to improve their financial situation. The question of how to turn your scarcity mindset into an abundant money mindset is important to ask, because you deserve the best life ever, and money will definitely help to get it.

To turn your scarcity mindset into an abundant money mindset, you need to work on the root causes first. This means you need to identify your negative money beliefs and then use the right techniques and tools to change your money mindset.

And all this work you need to do where your scarcity is anchored, deep on your subconscious mind.

But before we get started with the right strategies to turn from a scarcity mindset to full abundance, let me tell you one thing.

I’ve been there too. I struggled with money for a very long time.

You think that you are doing everything possible to improve your current financial situation but have little to show for it. So, why does this happen?

If you are always having financial problems, it’s likely because you have developed a scarcity mindset. And it’s not even your fault.

People with a scarcity mindset believe they never have enough money. As a result, they tend to focus on lack rather than growth.

Regardless of the financial goals you set, the strategies you implement, and the tools you use, if you have a scarcity mindset, you will end up self-sabotaging and fail to get your desired results.

More often than not, you will always find yourself falling into the old behaviors that have kept you in your current situation.

What I have come to realize over the years is that the process of transforming your finances only begins when you shift your money mindset. Willpower alone is not enough to change your daily habits to those that will help you build a financially secure future.

If you want to manifest more money, you need to first turn your scarcity mindset into an abundance mindset.

When you have an abundant money mindset, you start to behave like a wealthy person, which will eventually lead to the actual acquisition of wealth.

Having an abundance mindset is what attracts wealth. This means that you should focus on getting the right mindset before learning the strategies that will help you get the results you desire with money.

The good news is that anyone with a scarcity mindset can switch to an abundant money mindset. It won’t be easy, but it will be worth it. However, you first need to know if you have a scarcity mindset. A scarcity mindset with regards to money can show up in someone’s life in a number of ways.

Let’s look at are some symptoms of a scarcity money mentality.

Signs You Have a Scarcity Mindset

You believe that you never have enough money.

You think that making money is hard and that if you want more money you have to work more hours.

You believe that there are things you can’t do or afford because you don’t have enough money.

You always worry about the future and make fear-based decisions.

You think that external factors like your parents, society, and the government determine the amount of money you can possibly make.

You find it difficult to share what you have with others.

You are never happy with the success of other people because you think that someone else making money limits the amount of money you can make.

You believe that you have to choose between making more money and doing what you love but can’t have both.

As long as you live with a scarcity mindset, it will be almost impossible to increase the amount of money you earn. Even when you get good opportunities to earn more money, you won’t exploit them to the fullest.

This is the reason most lottery winners do not end up wealthier. Some of them even get back to their initial state financially.

To get ahead financially, you first have to eliminate self-limiting beliefs about money and develop an abundance mindset.

The fact is that there’s always enough money for everyone. Someone else making money does not hinder you from making enough money.

You are responsible for the amount of money you make, not your society, parents, or the government. Moreover, making money doesn’t have to be hard. It can be easy and fun.

So, how do you make this mindset shift? Let’s look at some practices that will help you turn your scarcity mindset into an abundant money mindset.

Ways to Turn Your Scarcity Mindset into an Abundant Money Mindset

There are many tools and techniques that can help you to turn your scarcity mindset into a healthy, money attracting mindset.

Practise Gratitude

People who suffer from a scarcity mindset always feel like they never have enough. This is because they always look at what they don’t have. One way to combat this mindset is to take an inventory of the things you already have.

There are many things that you probably already have in abundance that you can be grateful for.

Do you have a decent place to live, good food, a job that can pay your bills and needs, a comfortable mattress, clean air to breathe, or a loving spouse? Incorporate the practice of writing down the things you are grateful for each day.

Be sure to include even the simplest things in life that you might overlook. You will realize that you are already rich in so many ways than you actually think.

Money is not the only form of wealth. You can bet there are many people in the world that lack the things you have now and probably take for granted.

When you know how much you already have, it will be easier to focus on gratitude. You will stop feeling like you don’t have enough.

With the feeling of abundance, it will be easier to focus on the right actions to take and not the results. Start being thankful for what you have today.

Be a Giver

As mentioned earlier, people with a scarcity mindset usually have trouble giving out what they have. They always feel that they are the ones who deserve to be given because they think they don’t have enough.

While it may sound counterintuitive, giving is one of the best ways to appreciate what you have and develop an abundance mindset. If you feel like you don’t have enough money, use some of it to help someone in need.

Giving to the less fortunate and enhancing their lives is very fulfilling and will put you in a more abundant state of mind.

Stop Comparing Yourself with Other People

If you have a scarcity mindset, you will always feel like you are in competition with your family members, friends, neighbors, and colleagues. However, if you compare yourself with other people, you are doing a disservice to yourself. You will only increase your feeling of scarcity and feel more miserable.

When you are feeling bad about yourself, it is harder to focus on earning more money and securing your financial future.

If you come to think of it, there is no reason to compare yourself with anyone else. You probably started at different times and with different resources. Also, your current needs and wants are probably different from theirs.

Therefore, don’t let scarcity impact your decisions. Just run your own race. Focus on your energy, time, and money on what is best for you, depending on your current situation. You don’t have to have it all at the moment.

Instead of comparing yourself with other people, let them inspire you. Focus on how you can achieve what they have achieved. If they did it, you can too. With the right mindset and actions, you can also make it. Just focus on you.


Your scarcity mindset will keep you hostage to your bad financial situation. Another great way to put a stop to your feelings of scarcity is through visualization. This is a simple but very powerful tool that could help change your mindset and put you on the fast track to manifesting your desired results.

It is hard to achieve anything unless you first dream of it. Take some time each day to envision yourself, earning the amount of money you desire and how grand your life would be. See your financial goals as already accomplished.

This technique is effective and is used by many successful people, including elite athletes and millionaires. Apart from giving you a sense of happiness, visualization can motivate you to take massive action to bring your dreams to life. It will activate your subconscious mind to begin generating creative ideas to achieve your financial objectives.

You will open yourself up to the unlimited resources and opportunities the world has to offer you.

Focus on Continuous Growth

When you have a scarcity mindset, you always think that external factors determine your financial success.

However, this mentality won’t solve anything but keep you stuck in your current financial situation.

To solve your money problems, you need to stop focusing on lack and focus on growing your money. You have to understand that, regardless of your situation, it is fully your responsibility to improve your finances. It’s not the responsibility of your parents, society, government, or anybody else.

If you don’t accept this, you will always be blaming others for your lack of money and making all manner of excuses. Your financial position won’t change anyway.

What you need to do is to figure out how you can earn more money and take decisive action. For instance, you could take a side hustle or ask for a raise. You should also work to continually improve your money-making skills by learning from those who have already made it.

You can gain a lot of knowledge from mentors, books, blogs, seminars, podcasts, etc. Also, surround yourself with abundance-minded people. You definitely won’t get rich overnight. But with continuous growth, you will be able to create more money in your life over time.

Check out my shop for more mindset resources. My books and workbooks will not only help you to change your mindset but also help you with the most important point when t comes to personal development; taking action.

Conclusion About Abundance vs Scarcity Mindset

Having a scarcity mindset can be the main reason you are still not earning enough money in spite of your hard work or talent. Wealth creation is hugely dependent on your money mindset.

Your beliefs and attitude towards money drive your actions and determine your results.

Therefore, you need deep self-reflection to identify whether it is your scarcity money mindset that is limiting your growth. Next, take decisive steps to change it to an abundant mindset.

By using these five techniques, you can work on turning your scarcity mindset into an abundant money mindset. This way, you will be able to take the right actions and develop the right habits that will improve your financial situation.

Do your future YOU a favor and start developing an abundant money mindset now! Check out my money manifestation guide to learn more about how to change your money mindset and manifest more money fast.

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ABOUT THE AUTHOR: Mia Fox is a bestselling author, founder & CEO of the SelfMadeLadies Community. After a decade as an NLP coach, helping women to overcome their abundance blocks and turning big dreams into reality, she started her manifestation blog in 2018. Since then, she has helped millions of readers with her practical manifesting tips, and wrote her bestselling manifestation book “Become the CEO of Your Dream Life,” which turned into an award-winning transformational program, teaching students in over 222 countries worldwide how they can transform their lives with self-coaching. Read more about Mia Fox here.

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