84: Abundant Mindset Toolkit: What is Scarcity Mindset?

Want to learn how to turn down the dial on scarcity mindset and turn up the volume on abundance?  You are in the right place.  I have created an Abundant Mindset Toolkit for you.  Over the next 5 weeks I will be taking you through 4 of the 10 exercises and concepts included in the toolkit but first let's set you up with a solid foundation for using the guide.

In this episode you will learn:

  • What is scarcity mindset?
  • How do you know you are in scarcity mindset?
  • How do you shift out of scarcity mindset?
  • How to get the most out of the toolkit?
  • How to access the toolkit?

You can listen to the episode above or read the unedited transcript below.


Abundant Mindset Toolkit : What is scarcity?

Meaghan Smith  00:20

Hello, and welcome to the money mindful Podcast. I am your host, Meaghan Jean Smith. I'm a money mindset and life coach for women. I help you right here on the podcast breakup with not enough mentality and I teach you the tools you need to live a life with enough time, and enough money and confidence. And outside of the podcast, I run a six month in depth coaching programme. And this is for women who are really ready to work on themselves to create this in their life to create enough time to create enough money to create enough confidence in themselves to live an extraordinary life on purpose intentionally. And it doesn't mean that your life is not good already, but it's really taking your good life to Great. So if you're listening to me now, which obviously you are, I already think of you as my client and you get to work with me free every week. But I'd like to invite you to take this work deeper with me to work one on one with me weekly, I run a six month programme. So if that sounds like a hell yes for you, I would love to invite you to book a consultation with me this is the first step in getting to know me, and learning what it would be like to work together and I also help you bridge the gap in that call in that very first call. From where you are now we exactly where you are in your life and what you're struggling with and where you want to be in your life and how to actually create that. And if where, how, yes, two peas in a pod fit. And I know exactly how to help you create that, then I will invite you to work with me in my programme. You can find out all about how to book a consult and actually just book one because it's so easy on my website. That's Meaghan j smith.com

Meaghan Smith  02:47

meaghan j smith.com. Okay, so one of the most common mindset areas that my one to one clients want to work on is shifting out of scarcity or lack mindset into abundance mindset. Now, scarcity, mindset and abundant mindset go go by lots of other names, right? So it could be that they feel like they're in not enough mentality. So they want to do something in their business, but they're not really feeling good enough. Like it's like they, their, their, the way they market isn't good enough or something about them isn't good enough, or they'd be getting more clients or they need to lose some weight because they're not feeling good enough in their body or areas along those lines. And when we want to create those things in our life, it's much easier to create them when we're in abundant mindset. So when we already feel like we are enough, we show up a lot differently when we're trying to create new clients or when were applying for a job at a new company. Or when we want to lose weight if we already feel good enough, like we already feel like we're in that abundant mindset. It's so much easier to create what we actually want. So I have made an abundant mindset toolkit for you because I really want to help you shift out of scarcity mindset. And listen, if you're in scarcity mindset, nothing's gone wrong here. We all have scarcity mindset. It's just like all of us have positive and negative thoughts. We don't turn off a sheet.

Meaghan Smith  04:51

What am I trying to say we don't turn off a switch and suddenly not have scarcity mindset. It's just a state of mind. And the best way to get out of it is just to learn to identify it. So you can turn the dial down on scarcity and turn the dial up on abundance. So over the next four weeks, I'm going to be taking you through four of the 10 exercises and concepts that are included in this toolkit that I have made for you. But you don't have to wait to get all the exercises over the next four weeks. In fact, I'm not even going to tell you all the exercises on the podcast and take you through them because I've made this toolkit for you. But if you want to get a hold of the toolkit, now, it's called the abundant mindset toolkit. And it's my top 10 most practical and powerful exercises to rapidly shift you out of scarcity mindset, you can simply go to the money mindful website, that's money mindful.com.au, forward slash abundant mindset. And you can download the toolkit today. In fact, I suggest you do that, because over the coming weeks, I'm going to go through four of the exercises with you here on the podcast, I'm going to keep it really short, sharp and sweet. So you just get the exercise and you can apply it straight away in your life. But you also have the toolkit and you can pick any of the exercises and work on them straightaway. Okay, so today, I just really want to set you up for success. And I want to take you through understanding what scarcity mindset actually is like, what the heck is that? You probably hear me talking about it all the time. But sometimes it's like, Can you just explain it, please? Because I I sort of get an intellectual idea of it. But how does it actually apply to me in my life? So today, I want to share with you what scarcity mindset is, how do you know if you're in scarcity mindset, so how do I identify it? And how can you shift out of scarcity mindset, and then I want to give you some little tips about how to get the most out of the toolkit, because I'm just assuming that if you're still with me now listening, you're going to want to go and get that toolkit. So you have access to all 10 exercises and concepts. Some of them are like concepts that you apply, but I've called them exercises. Okay, so let's get into discussing what is scarcity mindset? scarcity mindset has many names. Okay, it weight some people call it not enough, mentality, lack, feeling insufficient or feeling inadequate, or feeling insecure about yourself and your abilities or just your self concept of yourself. Whatever you want to call it is fine. I'm just gonna call it scarcity mindset for the sake of this podcast and toolkit, okay. scarcity mindset is a state of being. It's formed by the way we think. Now, it's often associated with money, but it shows up in all areas of our life, it's not just about thinking that you don't have enough money. Okay, it can also be about thinking that you're not good enough, right? Like, you're in the lunchroom at work, and everybody's chatting. But you've got this little, like, thought just at the back of your mind, like, I want to join in with them. But, you know, they're not going to listen to what, what I've got to say won't be interesting to them. Right? Have you ever had a thought like that, like, just something like something that sort of triggers you or just kind of lingers around the back of your mind, like, where you feel a sense of insufficiency or inadequacy with other people or with something that you're doing? It's like you You write something for work, or you do a presentation for work and, and you think, yeah, but probably the probably I could have probably done better, right, that scarcity mindset. So it's, it can show up in really simple ways, like

Meaghan Smith  09:52

having to put heaps of food on your plate because you're worried that you're going to miss out that scarcity mindset. Right. So it's not like a really terrible bad thing. I'm not trying to make it out like it's this disease in our mind that we have to extinguish. No, it's it's not that it's just a way it's a state of being. It's a way of thinking, okay, but often, scarcity mindset holds us back from creating what we want. Because when we're in scarcity mindset, we can either stop ourselves from taking the actions that we want to take, for example, let's say you've got an idea that you want to start a podcast, but you're thinking, who would want to listen to me? Right? What I've got to say, is not really important, that scarcity mindset. And so when you buy into that, you can like quite literally stop yourself creating something that you want to do in your life, because you believe your thoughts. Okay, so this is why it's super important to learn how to identify if you're in scarcity mindset, so you can do something about it, because it's absolutely 100% learnable. To shift out of scarcity mindset, right? And I give I've given lots of examples before on the podcast previously, where it's, it's not the quantity of something, it's not the amount of money you have, or it's not the numbers on the scale. Right? If we're talking weight loss, it's, it's about your state of mind, because one person can get on the scales and weigh, I don't know, 64 kilogrammes and think, whoo hoo, wow, I'm so thin. I'm like, I'm amazing. I can't believe I'm 64 kilos. And then someone else could get on the scales and weigh 64 kilos and think, Oh, my gosh, I'm so fat, look at my fat. Like, it's not a quantity, the same thing. You could have $1,000 in the bank and be feeling really abundant, and really proud of yourself that you've created that money. But someone else could have $1,000 in the bank and be totally stressed. Or you in the same situation, depending on how you look at it could have $1,000 in the bank and feel stressed and lack and like it's not good enough, and you haven't saved enough money. But you can shift that thinking to be the exact opposite. Like, wow, that's so cool. I've got $1,000 in the bank, right? It's a state of being it's a way of thinking. So how do you know, if you're in scarcity mindset? Let's talk about that. Now, the most common indicators are if you find yourself thinking things like I don't have enough, right? I don't have enough money, or I'm not confident enough to ask for a promotion at work. What if they say no? Right? I don't have enough time to learn about investing in shares, or I don't have enough time to create a podcast, or I couldn't possibly leave my job to start a business because I don't have the skills, I don't have enough skills to create a business, right? That's all scarcity thinking. It's whenever you think that there's not enough of something, or that there's not enough to go around. And it takes some practice developing awareness of it, and learning how to dial it down. And this is what this abundance toolkit is for. It's filled with the top 10 exercises that I know that I can explain to you easily, like in a toolkit that you can do to start shifting yourself out of thinking in the scarcity way. Right? I have scarcity mindset, okay. The differences is just learning how to know when you're showing up in scarcity, right like to be on to yourself, so you can change so how can you shift out of it? Well, the first thing is to, to know that you're in it, right to create some awareness around it. I'm moving papers around if you might be able to hear me wrestling.

Meaghan Smith  14:52

It's, first of all, just knowing how to identify that you're in it. I That's really just powerful in of itself. Because when you know, okay, I think I'm coming from scarcity mindset here, then you can do something about it is if you've got no idea that you're in scarcity mindset, you can't do anything about it because you don't even realise that you're in scarcity mindset. And one of the things that our brain does is, if you think of our brain like a computer programme, right, it likes to be efficient. It likes to do things in a way that conserves energy, and it will follow the programme that it's been programmed to do. Now, this isn't an opportunity to start judging yourself. So if you think that you are in scarcity mindset, in some areas, like your think you're not good enough, like, your body's not good enough, or you don't have enough of a net worth, like you're, you're in your 40s already, you should have more money put aside, or why don't you have? Why didn't you sort out your financial stuff years ago, right, like all of that, that scarcity, thinking, Okay, we don't need to beat ourselves up about it. But if you don't realise that you're in that frame of mind, you don't have any power to change it. Now, when our brain thinks these thoughts, like, you know, my body's not good enough, or I don't like my body, something like that. It will just continue to think that thought, right, your your brains not judging that thought as in it's good or bad. It's just delivering that thought over and over again, because that's what you've been programmed to do. And it will just keep looping those thoughts in your brain. Like, how many times have you thought I don't have enough money? I still think that a lot, I really have to work on thinking that I do. And it's amazing. Like at every income level, you can still think this same thought, right? So what we want to do to shift you out of scarcity mindset is give your brain some new thoughts to think. Let's reprogram your brain. We want to reprogram your brain with another way of thinking, because we get good at what we practice. And we're always practising something. So you can continue to always practice scarcity, mindset, thinking thoughts, or you can start practising abundant thoughts. Now, we're not just trying to push aside the scarcity thoughts and pretend we don't believe them, or we never think them. Okay, that's not what we're trying to do here. But we want to give some equal airtime, to abundant thinking and equal airtime to creating that abundance programme, if you will, in our brain. Because every time we switch on the computer, so to speak, we're always turning on that scarcity mindset programme, right? But we want to access the abundance programme, and we want to start switching that one on. So we have access to that at least equal access, right? We don't have to get rid of the scarcity mindset altogether, but we want to know how to shift out of it and shift into abundance easily. Okay, so

Meaghan Smith  18:51

how to get the most out of the toolkit. So the toolkit is 10 exercises and concepts to help you shift into abundance mindset. Right? It's as simple as that. Now, everybody's different. What really resonates for me, might not necessarily be the number one exercise that resonates with you. There's no right or wrong way to shift out of scarcity mindset into abundance. If you have a way that works for you. That's the right way. So I really want to encourage you to approach the exercises in the toolkit with an open mind with curiosity, give it a go. practice them, and then make them work for you. These exercises are to be used for you, not against you. So if any of the exercises just don't sit right with you. Or they feel like, I just can't relate to this one, just don't do that one. Like, it's no big deal. Nothing's gone wrong, I just tweak it to suit you. Right? Because this is for you to get these results in your life. So you can create what you want. So you can make the money that you want. So you can feel that confidence that you want to feel in your everyday life. So you can feel love for yourself instead of beating yourself up all the time, right? It's shifting into a new way of being. And it's really simple. All these all these exercises are actually quite simple. But they do require work. Okay, they require practice, and some of them are ones that I would recommend you do daily. Okay, so I'm going to leave it there. Next week, I'm going to go through exercise one, I'm going to take you through four exercises over the next four weeks. All right, you can download the toolkit today by going to money mindful.com.au forward slash abundance mindset. And it's, I think it's 13 pages, I explained to you what I've just explained to you today on the podcast, and then there's 10 exercises in there. So you've got so you've got more than enough material, like there's abundance for you like 10 different exercises that you can do, to train your brain to turn the dial down on scarcity, like we're not trying to eliminate it from our lives, we're not trying to get rid of it, like it's this big, bad evil thing. We're just turning down the volume on scarcity. And we're turning up the volume on abundance. This is totally possible for you to create whatever you want in your life. But if you have been in a scarcity mindset, for a long time, let's say or if you didn't, you weren't even aware that you were in it. And now you want to shift out of it, have some compassion for yourself, Have some patience, and do the work. It's like any new thing that you learn any new skill that you learn, takes some practice, right. So if you do some of the exercises, and you don't feel like a million dollars the next day, nothing's gone wrong. It's okay. But having said that, these exercises can actually shift you instantly. Like when you start thinking differently, you create different emotions in your body. So you can quite literally do one of these exercises and feel different instantly. But it's all on you in terms of how far you want to take it, how deep you want to take it, if you take the exercises really seriously and really apply them. Some of them, especially the gratitude exercise, that's one I would recommend doing every single day.

Meaghan Smith  23:24

It's, it's totally available to it's totally possible. You just got to do the work. Alright, I can't wait for you to get this abundance toolkit in your hand because I do these exercises, everything that is in this toolkit I have done and I have used it to do things like double my revenue in my business. Right? I did that at the start of this year, I really wanted to increase my income and just really just shift out of a next I really want to shift into the next level of my thinking around my business. And I particularly I think it's exercise number one I worked on. I'm just having a look for you. Yeah, I have more than enough for today. That's exercise number one. I applied that I did that exercise like that way of thinking every day at the start of this year, and I doubled my revenue by doing that. So it's not about just magically thinking differently. It's about thinking differently. And then when you think differently, you feel differently and you show up differently. You might not necessarily take a lot of different action, but the way that you show up when you take the action changes, and that's how you get different results. Okay. All right. Now before I let you go, I want to tell you about the mind over money summit. My friend les Lopez has bought together 28 plus top experts and influences for this complimentary training series on removing prosperity blocks and managing the mindset and the energy to create wealth and abundance in your life. Now, I am actually one of the speakers. So I want you to know all about it. It is happening the summit dates it's it's a virtual event online, it is free. The dates run from July 5 to July 18. Now there's a registration page that you can sign up for that and I'm actually going to be sending you an email about that this week. So if you want to know more about the mind over money masterclass series, the the summit that's happening, make sure you're on my email list. Now. If you've after listening to that today, if you're already like, right, I'm going straight out and signing up to get the abundant mindset toolkit, you will automatically be added to my email list and so you will receive the email about the summit. There's some really cool speakers, there's going to be people talking about rewiring for wealth, Money Mastery, owning your financial future, tapping into abundance, and I'm going to be talking about three things you must know to create wealth and abundance in life. So make sure you're on my email list. Get yourself that abundant mindset toolkit. And until I speak to you again, have a beautiful week. Bye Bye.

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