Hazards of a Lack Mentality

Shifting your mindset from a lack mentality to a wealth mentality can feel overwhelming. Generally, people change their behavior when the pain of staying the same is worse than the pain of doing something new. Until then, they go about life doing what they have always done, hoping for different results.


Everyone has that one thing that causes them to change. Whether it is an aha moment or witnessing or experiencing something that makes change necessary. One man’s trigger point is another man’s normal, but we can identify hazards of a lack mentality that might spark the desire for change.


Hazard #1. A lack mentality causes depression. If you have lived with a lack mindset believing that working hard is the only way to wealth, you may be experiencing depression. Chances are you are working harder than most, and you may not be seeing the conversion of work to income. You may also be making money but working so hard that your family barely sees you and you sort of hate your life. A lack mentality can force you into a never-ending cycle of striving that doesn’t bring the results you’ve been expecting.


Hazard #2. A lack mentality makes you stingy. Feeling like there is a finite amount of anything causes people to be conservative - which isn’t a bad thing. When conservation turns to hoarding, it becomes a pathology. A lack mindset creates stingy behavior and keeps people from being generous. Generosity is more than sharing money. It is a mindset that allows sacrifice without resentment and helping others at your own expense. A lack mindset prevents generosity that stems from a genuine love of others and stifles relationships. 


Hazard #3. A lack mentality causes generational harm. How you feel about money is translated to your children. If you feel like money - or other resources such as time, mentorship, and tangible items - are scarce or must be protected from others, your kids will adopt that mindset. Having a lack mentality creates generational anxieties and fears that aren’t necessarily true, just the way it’s always been. Your role as a parent carries great weight and influence for your children and those closest to you.  


Whether you are fully aware that you have a lack mindset or just beginning to consider it, you must be aware of the hazards this mindset carries. Use your newfound awareness to circumvent your lack mentality and seek to shift your mindset to a wealth-focused mentality.


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