Shifting your money mindset from scarcity to abundance can be challenging, especially if you grew up in a home where money was tight. I’m sharing some thoughts on how I’ve begun the process of thinking about money differently. I’ve reduced my levels of stress and anxiety around money, so maybe you can, too.
I had never even heard of money mindset until last August when I started reading about modern witchcraft. Turns out there’s a whole industry of life coaches, guided meditations, books, online courses, etc. Everything is monetizable these days, and feeling like you have more money would definitely make you more willing to pay a life coach, so I was skeptical. But the more I’ve read about it and formulated my own ideas, the more I realized I could remove a lot of stress from my life.
Money as energy
One of the recurring themes is to think about money as simply a form of energy that we exchange for other forms of energy. We might exchange our money energy for a cheeseburger or linen bedding or rent or medicine. We might receive money energy in exchange for the energy of our time or our creation through something we’ve done or made. Energy flows in and energy flows out. Um… okay. I think I get it.
What this concept has helped me do is to try to stop placing a judgment on money. I’ve definitely grown up thinking that money was scarce so it had to be jealously protected and hoarded so that you didn’t have to stand in line with your mom for government cheese or beg your ex-husband for a twenty dollar bill to put gas in your car to get to work because your account was overdrawn.
Even when I had plenty of money, I didn’t want to let go of it because I was so afraid that it would run out again. This caused me a lot of stress and anxiety. Like so much stress. Buying anything non-essential absolutely weighed me down with guilt and anxiety.
Money is always flowing
There have definitely been times in my life when money was actually scarce, but when I look back, they didn’t last long. If money is energy, that means it’s always flowing and changing. It flows in, and I shouldn’t be afraid to let it flow out.
That doesn’t mean I don’t need to be responsible with money. You have to have respect for that energy. But you can let go of the constant fear and worry and choose to believe that money will always flow to you when you need it. The amount of money I make hasn’t changed. What has changed is the way I choose to think about it, my mindset. Money will flow to me, and I can let it flow to others. It’s all gonna be fine.
Is money really the source of all evil?
I definitely held a belief that people who had a lot of money were nasty, greedy, and mean. They surely made that money by stomping on the rights and dignity of their workers and just sat in their mansions scoffing at the lowly poor. So clearly, if I had a lot of money, I would be just as horrible because being greedy is just about the worst thing you can be.
Learning about money mindset has helped me to temper my judgments around having a lot of money. There are certainly plenty of examples of horrible, greedy human beings who use their money to hurt other people and the planet, but they don’t do that because they have money. It’s not the money that is evil, it’s their choices. Money might make it easier for them to do horrible things, but they would do horrible things whether or not they had the money. It would just be on a different scale.
Money as a force for positive change
There are also plenty of examples of people who have a lot of money who are absolutely beautiful souls who use their money for good. So money is energy, but it’s also a tool. We get to choose how we use that tool. Are we going to use that tool, that energy, to break things or to build things up?
I’m not evil for wanting to have more money. I’m evil if I choose to spend my money on say, shooting endangered animals or knowingly polluting a local water source and trying to cover it up so I can make even more money that I’m only going to use for my own pleasure.
See where I’m going with this? Not too subtle, is it. But I was ignoring all of those people who were turning their money energy into forms of connection, unity, and uplifting power. If I had money, I would have more energy to pour into building the kind of world I want to live in.
With this mindset shift, I was able to let go of the guilt I felt about wanting to make more money or have a few nice things. It’s not about the money itself, it’s all about how you use it.
The difference between price, cost, and value
So now that I’m freaking out a little bit less about going broke, and I’m feeling a little bit less guilty about wanting to have more money and be able to exchange my money energy for nice things, everything’s perfect, right? Obviously not.
The latest shift I’m working on in my money mindset is about how I spend my money. I want to make sure that energy flows into something positive. But with the many habits that come from a scarcity mindset, things have become more complicated.
I used to only consider the price of the things I bought. What does the pricetag say? Can I get it for cheaper? That was the way I was raised, and that’s how I operated for 40 years. Obviously, it’s still my default setting, but just because the price of something is low doesn’t mean the cost is low. In fact, it’s usually pretty high.
What do I mean by cost? To me, this has to do with the way a product is made an by whom. If I’m buying a top for £10 from a fast fashion shop, the price is cheap. But that top is probably made with materials that will release microplastics into the water system. And it might have been mass produced in a country that doesn’t have fair labor practices. It might be contributing to the horrible, racist legacy of colonialism. Ooft, suddenly that cost of that £10 top doesn’t seem worth it.
And what’s the value of that £10 top? Is it going to last? Am I going to be able to wear and wash it more than a handful of times without it falling apart? Does it really bring that much joy to my life? What’s it really worth to me?
Balance is key
Yet if I’m respecting the energy I have to exchange for the money I’m bringing in, can I really afford a $500 top? That might be the price of something that 100% aligns with my values. Can I afford that?
No. I’d be naked. While I can hope to have that much money someday without feeling guilty, I don’t have it now. So I have to put in a lot more effort to find a balance between price, cost, and value.
This is by no means a stress-free endeavour, and I’m not able to change all my habits overnight. Sometimes I get lazy and still buy the cheapest and most convenient thing I can find. But thinking about my money as energy helps me visualise where my money is going and the effect it can have in the world.
It also removes some of the guilt when I purchase something a little more expensive. I know that the cost is lower and the value is higher, which makes the price totally worth it.
I’m trying to be more mindful about the way I spend my money and the environmental and political impact that energy can have. It’s a journey, but I’m willing to go on it.
The best time to start is now
I am not a life coach, a financial advisor, or an expert in the law of attraction. I’m just a person who is trying to live my best possible life with the energy and money I have. This is my current understanding of money mindset, and I’m sure it will continue to evolve over time.
I’d love for you to share your thoughts on shifting your money mindset. Have you worked on this? Was it easy for you? What challenges did you face? Leave a comment or continue to conversation on Instagram.
Like with all personal growth, this is a process that will never end. We owe it to ourselves and to each other to keep working on making the energy of money a positive force. It’s gonna be awesome.