You hear this all the time in the personal development world…
“You’ve got to develop an abundance mindset, and get rid of the scarcity mentality.”
And it’s very true.
It’s your mindset that brings you success or failure.
And society, your friends, family, teachers, and the media have programmed a scarcity mindset into you.
So, it’s your job to deprogram and reprogram your mind with abundance so you can achieve the financial success you deserve.
In this week’s newsletter you’ll discover how to go from scarcity to abundance, as well as get rid of bad habits that keep you broke.
So, please keep reading if you want to finally break free of the scarcity and bad habits almost everyone experiences.
5 Habits That Keep You Poor
This list is not exhaustive, but if you have any of these 5 habits and you can find a way to work them out of your life, you’ll see your financial situation improve greatly.
- Paying yourself last
Most people get their paycheck and pay everyone else BEFORE they pay themselves.
They pay their rent, bills, food, entertainment, phone, etc.
When they should take at least 10% of their income and save it to invest later.
When you pay yourself first, you force yourself to live on less each month.
Your brain naturally works out ways to make this happen, even if you think there’s no way you could live on 90% of your salary.
So, open a new bank account if you need to and set up an automatic transfer every month so you know you’re saving at least 10% of your income.
- Accumulating Bad Debt
Accumulating bad debt is easy these days.
You’ve got credit cards, interest free loans from department stores, and in recent years “buy now, pay later” services.
The problem with bad debt is when you already have some, it’s easy to think “What’s another $1000, $2000, $3000?”
Before long, your debt balance becomes unmanageable.
So, if you use credit cards, be sure to pay them off within one month.
If you can’t pay for something twice, you can’t afford it.
- Spending To Impress Others
When I began making good money as a young 20 something year old kid, I fell into a trap I see many people fall victim to.
I was driven by ego, and I bought so many expensive things I didn’t need, just because I thought it would make me look cool, and to impress others.
If you want to hear my quick story, and WHY I knew I had to start making money as a kid, click here >>
- Expensive Hobbies
As you may know, I love superheroes.
I’ve got 3 life size Iron Men…
A movie grade Batman suit…
And countless other movie and Bruce Lee collectables.
I’ve structured my life in a way that allows me to buy those things without it being a problem.
But, I see many people who have expensive hobbies such as travel, skydiving, or even things like gaming, etc.
And if you have more than one expensive hobby, then that’s something to be mindful of.
Because a few hundred dollars here and there quickly adds up over time.
- Saving Without Investing
If you do ensure you save at least 10% of your money each month, that’s a great place to start.
But if you’re not putting that money to work, with the way inflation is going, you’re losing money FAST.
The best thing to do is to have some money for emergencies, but put your money to work by investing.
In my opinion, investing in your education, so you can make more money, faster is always a good idea.
Outside of that, when you have more money than you know what to do with, you can invest in other things like shares or real estate.
But you’ll ALWAYS get a better return on your investment by investing in your education.
How Your Words Keep You Broke
As I mentioned earlier, your mindset brings you all your life results.
And one of the things your mindset is responsible for is the words you say to yourself and others.
Your words are beyond powerful.
And so, copywriters are some of the highest paid people in the world.
Why?
Because they write the words that compel people to buy products and services.
Why a Scarcity Mindset is Bad for Your Business and Life
I don’t care what you apply this mindset to, it will ruin your chances of success in all areas of life.
If you have a scarcity mindset, you’ll think money is hard to come by.
If you break up with your partner you’ll think, there aren’t any other people out there who are compatible with you.
If you’re in business you’ll think good clients are hard to come by.
But here’s what’s funny, by thinking there aren’t many potential great clients or partners out there…
You’re actually thinking there is an abundance of bad clients or bad matches.
You just need to flip that switch and think the opposite.
Using the example above, there IS an abundance of great clients or potential partners.
Of course, this is easier said than done, as a scarcity mindset is drilled into us from birth as I mentioned above.
But there are things you can do to trick your mind into thinking abundantly, so eventually it happens automatically.
Here’s a simple tip I use often that tricks your brain into thinking abundantly >>
Finally, I’ve gone one more very short video for you about how to visualize being abundant, as explained by Dr. Joe Dispenza
Dr. Joe, is best known for his work on how to tap into the limitless potential of the human brain.
So, if anyone knows how to hack your brain for an abundance mindset, it’s him.
Click here to watch his video >>
In closing…
Your mindset, and the habits that come from it are the KEY to whether you succeed in life and business or not.
That’s why I teach mindset in all my programs and trainings in the first few weeks, because it’s that important.
Until next time… to your success,
Dan Lok
P.S. – I created a powerful training available at the Dan Lok shop called Unlock Your Abundance.
If you’d like some help overcoming the mental blocks that get in the way of creating abundance for yourself, then you’ll love this training.
