Heads up, this is a long article. The “Too Long, Didn’t Read (“TLDR”)” is this: This article discusses the importance of an abundance mindset towards money, which involves believing in your ability to navigate financialchallenges and create opportunities. It contrasts this with a scarcity mindset,
which is typically rooted in fear and anxiety. The image also explores common "money scripts" or beliefs about money that can influence financial behaviors.

Cultivating abundance with money

An abundancementality isn't about ignoring financial realities. It's about believing in your ability to navigate challenges and create opportunities. By focusing on growth, gratitude, and contribution, you can cultivate a mindset that empowers you with your hard-earned cash, even in uncertain times.

An abundancementality is a powerful tool, especially when most Americans are trained to
have a scarcity mentality with money. And, like mentioned in other posts about anxiety, there are *sometimes* economic benefits to scarcity mindset,but that often comes from a place of fear, and the goal is to move to a place of abundance and joy when it comes to thinking about money.

Identify your internal money monologue (“money scripts”)

First, let’s lookat some money scripts.

Moneyscripts are deeply ingrained beliefs about money that often originate in childhood. They can significantly influence our financial behaviors and outcomes. Here are some common examples:

Money Avoidance

• Money is bad or evil: This belief often stems from religious or moral teachings.
•  
• I don't deserve money: This can lead to sabotaging financial success.
• Money is the root of all evil:This belief can hinder financial growth.
  

Money Worship

• More money will solve all my problems:This can lead to excessive spending and debt.
• I need to make more money to be happy:This can create a never-ending cycle of wanting more.
• Money equals success: This can put undue pressure to achieve financial milestones.
  

Money Status

• Money defines my worth: This can lead to comparison and materialism.
• I need to spend money to impress others: This can create financial strain.
• My financial status reflects my success: This can hinder risk-taking and innovation.
  

Money Vigilance

• Money is scarce: This can leadto hoarding and fear of spending.
• The whole point of this article is to challenge this idea. Read on, and tell this idea goodbye!
• I need to save for a rainy day: This can limit enjoyment and opportunities.
• As a financial planner, I completely agree that you should have an emergency fund (“rainy day fund”) as you never know when the unexpected would happen (if you did, you’d avoid that car crash). However, obsessing over how much you have, or sitting in too much cash, which is more common for women, can limit your enjoyment and opportunities. This is morbid, but at the end of the ride on this life of yours, you can’t take your money with you, so, enjoy some of it!

I'm not good with money: This can create a self-fulfilling prophecy.

• You are whatever you tell yourself.
  

These are just a few examples, and many people hold multiple money scripts. That’snormal. Recognizing these beliefs is the first step to overcoming themand creating a healthier relationship with money.

Kick out the BS (also known as“limiting beliefs”).

Alright, we covered money scripts. Now let’s move on to limiting beliefs. Limiting beliefs aredeeply ingrained thoughts and significantly hinder financial success. Here are
some common offenders:

1. Scarcity Mindset

• Money is limited: This belief creates a sense of competition and fear of not having enough.
• Guess what! Money is not a zero-sum game. If you make “too much” money, you can give it back to a charity that means something to you. Do you think some of the uber wealthy executives worry about making too much money?
• I can't afford it: This often prevents people from pursuing opportunities or making necessary
  investments.
• Let’s be real, sometimes you really can’t afford things; that’s budgeting 101. However, starting from a place of “I can’t” means you never will. Whatever you say you can do, you will. Same with whatever you can’t do. Let’s shift this to I can’t afford it, yet. 
  

2. Self-Worth and Money

• I don't deserve to be wealthy: This belief undermines confidence and ambition.
• Really? Why not? Sometimes beliefs like this are better to visualize in the sense of – would you ever tell a friend this? Then why would you tell yourself that?!
• Money will change me: This fear can prevent people from pursuing financial goals.
• Self-awareness is a great tool. Trust yourself that if you’re taking the time to read this article, and think through these challenging subjects, you will be in tune with your values when you are earning what you deserve.
• Also, instead of “what if” move that to “even if.”
• From: “What if I make $350,000/year? Will I be a bad person?”
• To: “Even if I make $350,000/year, I will make sure to stay in line with my core values of caring for others, myself, and causes I believe in”
  

3. Fear of Failure

• I'm not good with money: This belief can lead to avoidance and procrastination.
• Again, what you tell yourself, you will. So if you say, “I’m not good with money,” you aren’t. But you can learn good money habits and start implementing them in baby steps, which will increase your confidence and quell some of the failure mindset.
• I'll lose everything: This fear can paralyze decision-making.
• How likely is this really? Yes, there are risks in certain investments, but if you’re building an emergency fund, or start investing in a set of well-diversified investments, the likelihood of this is very low.
  

4. External Factors

• The economy is bad: Blaming external factors prevents taking personal responsibility.
• The majority of our lives are outside of our control. And when it comes to being better at finance, sooner is the best time- even if the economy is awful. Have you heard about “the power of compounding”? It’s essentially that doing something small sooner is multiple times better than a big thing later. More on this in another article.
• I need a lucky break: This belief undermines proactive actions.
• This is just bad self-talk undermining how smart and wonderful you are, and your capacity to learn. Make your own luck! Take some small steps to being more educated and achievable actions, and you’ll be better off than if a leprechaun shows up on your doorstep.
  

These limiting beliefs can create a self-fulfilling prophecy. By recognizingand challenging these thoughts, you can pave the way to say “see ya!” to these subconscious thoughts and make room for financial growth and abundance.

Let’s talk about some steps to

take control, and put some positive vibes out in the financial universe.

Overcoming limiting beliefs is a crucial step in achieving financial successand abundance. Let’s talk about how to kick those subconscious beliefs that are only keeping you anxious and earning less than you deserve out to the curb.

1. Are those ideas for real? Time to take a hard look if they deserve the time of day.

• Question your beliefs: Are these beliefs truly accurate? Are they based on evidence or assumptions?
• Identify the source: Where did these beliefs come from? Childhood experiences, media, or societal norms?
• Replace negative thoughts: Substitute/question limiting beliefs with positive and empowering affirmations.
  

2. Build self-confidence/expand that beautiful mindof yours!

• Focus on strengths: Recognize your abilities and accomplishments.
• This is super important. Take some time to look back at what you’ve done really well, and what also has given you some intrinsic satisfaction in the past. I’m sure you have done a lot of great things, but you probably don’t love talking about it as it feels weird and selfish, and maybe arrogant. However, being proud of accomplishments does not make you a bad person. If you’re wanting an exercise to help jog your memory, give this one a go.
• Set achievable goals: Celebrate small wins to boost confidence.
• Just like people do couch to 5k’s, you want to set reasonable goals and continue to up the challenge with each successive one.
• Continuous Learning: Enhance your skills or knowledge; like reading articles like this one! Education is power, as I’m sure you already know.
  
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Networking: Build strong relationships. These connections can lead to unexpectedopportunities, in addition to being the support you may enjoy.

3. Take Action

• Learn new skills: Expand your knowledge and capabilities.
• Sure, doing something new is scary. Have you ever done something the first time and were perfect at it? Let’s look at walking. Did you just go from lounging in your mom’s arms to running? Nope. It was months (years probably) or wiggling around and falling down before you could mobilize yourself. Keep this in mind as you take on something new (and stop looking at all those perfect people on social media who seem to do it perfectly- they likely have years of practice).
  
• Step outside your comfort zone: Try new things and take calculated risks.
• Growth happens at the edge of your comfort zone, right? If you want to get stronger, you need to pick up a heavier dumbbell. Does it hurt in the moment? Yes. Will it make you stronger? Yes. Small steps make a tremendous difference. Just like those baby steps to get walking.
• Also, think about the risk you’re wanting to take. What’s the worst that could realistically happen if you did it? And the best that could happen?
• Seek support: Surround yourself with positive and supportive people.
• Do you really want to be around nay-sayers? This may mean weeding out or setting boundaries over some existing relationships, but if you really want to make this change in your life, you can do hard things.
• Identify income streams: Explore various ways to make money, beyond traditional employment. Multiple income sources can provide a sense of security, as well as keep your knowledge sharp in multiple areas.
   
• Set financial goals: Clear and specific financial objectives provide direction and motivation.
• These don’t need to be overwhelming! Let’s focus on the 3 main elements: WHAT, HOW, WHEN?
• WHAT- be specific on what you want to do (Do I hear “a 2-week vacation to Cancun in January?”, or that you want to “retire by 55?”)
• HOW- how much is this realistically going to cost? By having a number to work off of, you will know how close you are to your goal)
• WHEN- be specific of the timeline of this (AKA January of 2030)- by knowing when you need the cash, it can help decide if what type of investment to keep it in to be earning the most bang for your buck.
  

By combining these elements, take control of your financial destiny andcreate a life of abundance! Why don’t you deserve this?

4. Shift your focus and cultivate a wealth mindset

• Embrace challenges: View obstacles as opportunities for growth.
• I know, this should probably be one of those motivational posters of a cat reaching up, but this really is a good way to reframe challenges.
• Learn from failures: Use setbacks as learning experiences.
  
• Believe in your potential: Understand that abilities can be developed through dedication and hard
  work.
  
• Gratitude Journaling: Regularly acknowledging what you have can shift your perspectivetowards abundance.
  
• Mindful Spending: Appreciate every purchase, no matter how small. This reinforces theidea that resources are valuable.
  
• Visualize Abundance: Create a vision board or mental image of financial prosperity.
• This sounds hokey, but it actuallyworks. You don’t need to tell anyoneelse you’re doing it, if you feel silly even thinking about it. But the more you imagine yourself beingsuccessful, including what you will look like and how you will physically feel, the more likely you will make choices to get to that goal. Want a tool/exercise to guide this? Give this one a go. 
  

5. Take care of yourself and others.

Practice Self-Care

• Physical well-being: Exercise, nutrition, and sleep contribute to a positive mindset.
  
• Emotional balance: Mindfulness techniques like meditation or yoga can help managestress.
  
• Social connection: Spending time with loved ones who support you and your new goalsprovides support and perspective.
  

Give Back

• Volunteer: Helping others can shift focus from personal challenges.
  
• Donate: Contributing tocauses you believe in can foster a sense of abundance.
  

Remember, cultivating abundance and overcoming limiting beliefs is aprocess. Be patient with yourself and celebrate progress along the way!

Disclosures: Investmentadvisory services offered through Equita Financial Network, Inc. an investment adviser with the U.S. Securities and Exchange Commission. Registration does not
imply a certain level of skill or training. Equita Financial Network also markets investment advisory services under the name, Astraea Wealth Management LLC.