How do you go from financial scarcity to financial abundance?
I have been investing in tax liens for 20 years. And helping other investors to make money with tax liens and tax deeds for over 15 years. But I was living from a mindset of scarcity. How do you know if you’re living from a mindset of financial scarcity? Here’s one clue, how much consumer debt do you have? More than you pay off with one pay check? Now I’m not talking about student loans, or car loans or loans on your house. I’m talking about debt from things that you paid for on credit.
True confession
When I finally added up my debt it was a lot. I had both personal and business debt. Now I could blame the COVID pandemic and that my husband was out of work for a few months twice in the last few years. But the truth is that even before we were faced with these challenges, like a lot of Americans, we spent more money than we made. Not on frivolous things, we didn’t eat out a lot, or buy expensive cloths, or even have car payments. We just didn’t keep track of where all our money was going and spent everything that came in. So when something unexpected happened – like the care broke down and needed to be fixed, we paid for it on credit.
The truth is that investing money and managing money are 2 different things. I realized that what I needed to do was learn how to manage my money better not make more in order to improve our money situation. I had always thought that all we had to do is make more money and then we’d be in a better situation and pay everything off. That is sign that I was living out of scarcity around money – thinking there is not currently enough and if we had more everything would be better. But that is really not the answer. Because when you live with a mindset of financial scarcity instead of financial abundance you always tend to spend more money than you make, no matter how much comes in.
So how do you go from a mindset of scarcity to financial abundance?
Earlier this year I did a Ride the Waves 5 Day Challenge. This challenge was all about how to ride the waves of the economy for financial abundance. For a couple of the days of the challenge I talked about a book that I read written by Craig Hill. The name of the book is Five Wealth Secrets that 96% of Us Don’t Know. And it was what I learned in this book that opened my eyes and helped me change my mindset to one of financial abundance.
The paperback retails for $15, but you can get a free copy (and only pay for shipping) from Family Foundations HERE
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