Abundance Mindset vs. Poverty Mindset

The OT lets poors in now?

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I saw a video yesterday about the abundance mindset

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Before I answer, I need to know what kind of water he used for his ice water facial

Those with an abundance mindset will be asking those with a poor mindset for help when the money runs out.

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Abundance Mindset

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Leads to

Credit Card Debt

Well what investments do you have? You can’t just start having this mindset when you don’t actually have anything to fall back on if things go south lol

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the abundance mindset—where you trust that money flows back when you invest in things you enjoy or believe in. This guy swears by it. Says more opportunities show itself and the money always seems to replenish itself.

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Can't take your money with you when you die.

Buy that 85K at 7% F250 baw.

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Should I loosen up and risk running out of money before the end of each month?

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Hell no. Having money in savings is always better than living paycheck to paycheck where one calamity bankrupts you. Live frugal until you can afford the occasional splurge. Build your worth.

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We live paycheck to paycheck already and can’t fathom spending freely or we’ll run out every month.

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I have side hustles but still always seems to run out

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If you are doing the above, you probably need to be doing the below.

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always pinching pennies, scared to spend, and feeling like there’s never enough.

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you trust that money flows back when you invest in things you enjoy or believe in. This guy swears by it. Says more opportunities show itself and the money always seems to replenish itself.

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Ughhh, that’s now how life works. Money doesn’t just show up except for that $1 bill from the Nielsen Ratings people.

You can strategically spend. Get a masters. Join a group that will develop business contacts, etc. but you shouldn’t spend money on a vacation thinking magic money will appear because you spent money on a vacation.

It is stressful living paycheck to paycheck. You need to prioritize the thing you want to do and spend money on that and cut back on other things. Want to take vacations? Okay, but cancel Netflix. Want to golf or fish? Okay, but cut back on eating out or nice clothing. There’s a balance to everything.

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always pinching pennies, scared to spend, and feeling like there’s never enough.

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Nothing wrong with this if this is your comfort zone.....and you aren't afraid to invest your savings into something that can help it grow. Think of every one of your saved dollars as little soldiers working to make more soldiers for your savings army. You should have a solid offense to accompany your excellent defense.

A lot of "poverty mindset" people are incredibly conservative investors, which IMO is not healthy for people under 50 years old. My parents are like this. They are great at keeping their spending down and controlling their costs, but they were always terrible investors. They always put their money in CDs and HYSA's instead of investing in total market. Their savings just didn't grow as much as it should have. They could have probably retired early if their offense was as good as their defense.

Don't spend money just to spend. That's the wrong move here even if you are investing appropriately. Unless you were born into wealth, you need to be putting money away somehow and investing. Hard to do that if you are buying a bunch of consumer garbage you don't really need.