Have you ever cringed before opening the bill at brunch or been too scared to even open your bank account app? We’ve all been there—feeling like we’re barely scraping by, worrying about whether there’s enough money to cover the next bill. And no matter how much money we manage to save, it seems like it’s never enough.
Financial stress is commonplace these days. But if you find yourself in a never-ending state of financial anxiety, even if you’re bringing in a decent income, it could be a sign of something deeper: a scarcity money mindset.
Although a scarcity money mindset is often subconscious, it can have a profound effect on your day-to-day life. In a 2017 study, researchers discovered that simply thinking about a costly car repair bill dramatically lowered the cognitive performance of low-income individuals.
Between social obligations, unanticipated expenses, the recent pace of inflation, and general financial insecurity, it’s no wonder if our money mindsets are often on overdrive. But if you’re not careful, a scarcity money mindset can quickly turn into a self-fulfilling prophecy.
If you feel like this is totally you, we’ll help you spot the signs of a scarcity money mindset so you can make changes to start hitting your money goals.