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Many of the challenges we face in life all start within our own thoughts and how we view our circumstances. Our mind is a breeding ground for lies and excuses to grow, and when we don’t take care of our own limiting beliefs, they end up holding us captive.
In this article, we will address exactly what is a scarcity mindset versus an abundance mindset and how they are keeping you from making progress within your financial goals.
We will also explore 3 steps you can take in order to ultimately live in God’s abundance that he desires for you and your loved ones.
Scarcity Mindset vs. Abundance Mindset
What is a Scarcity Mindset?
A scarcity mindset is giving in to excuses and lies about how there isn’t enough to go around or that abundance is just not possible for you.
Some common characteristics that manifest when you have a scarcity mindset are things like doubt, anxiety, fear, worry, pity, a lack of responsibility, hustling because you think that God won’t provide otherwise, or even simply settling for less than God’s best.
Biblical Example of a Scarcity Mindset
The Israelites are the perfect example of how a scarcity mindset will keep you from living in God’s abundance.
After they were liberated from Egypt, they wandered for 40 years on a journey that should have only taken them 11 days. Why? Because they doubted God.
For indeed we have had the good news [of salvation] preached to us, just as the Israelites also [when the good news of the promised land came to them]; but the message they heard did not benefit them, because it was not united with faith [in God] by those who heard.
Hebrews 4:2 AMP
Financial Example of a Scarcity Mindset
Having a scarcity mindset within your finances can keep you stuck living paycheck to paycheck. Some common examples of having a scarcity mindset within one’s finances could manifest:
- Blaming others for your poor financial situation
- Not taking responsibility and learning how to manage your money properly
- Putting too much hustle into your work and not trusting God to provide for you
What is an Abundance Mindset?
An abundance mindset that is rooted in the Gospel is to trust in God’s promises and leaning into our rightful position as heirs to God’s inheritance.
Some of the common characteristics that those with an abundance mindset are believing that all things are possible through Christ, detaching from a need to accumulate, believing that God will keep his promise to provide, having confidence that God is working everything out, taking calculated risks for higher rewards, and having peace in the midst of chaos.
Biblical Example of an Abundance Mindset
One of my favorite examples of having an abundance mindset in the Bible is the story of Ezekiel and the dry bones in Ezekiel 37. In this story, Ezekiel comes across a pile of dried-up bones and God asks him if they can live.
If Ezekiel had a scarcity mindset, he would have immediately responded with “No it’s impossible!” However, that is not what Ezekiel did. He responded with “Sovereign Lord, you alone know.”
Ezekiel’s response and the actions he took after God told him what to do show us that Ezekiel trusted in God. He knew that God could ultimately do anything. So instead of throwing out excuses as to why the bones couldn’t live, Ezekiel did exactly what God told him to do.
He prophesied over the dry bones and they lived!
Financial Example of an Abundance Mindset
Having a healthy and humble abundance mindset when it comes to your finances will ultimately help you make progress towards your biggest financial goals. We can apply the same kind of mindset that Ezekiel had when God had him bring the dry bones back to life to our finances.
An abundance mindset can show up in your finances in ways like:
- Detaching yourself from the idea that “money = happiness”
- Taking time off to vacation because you know God will provide
- Confidently taking risks and being okay with the fact that they may not work out
God’s Promises of Abundance
There are many Bible verses about money and wealth as well as on God’s promise of abundance. What we learn from them is that as sons and daughters of the Most High King, we have been promised that we will inherit the riches of His Kingdom.
Praise be to the God and Father of our Lord Jesus Christ! In his great mercy he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead, and into an inheritance that can never perish, spoil or fade. This inheritance is kept in heaven for you, who through faith are shielded by God’s power until the coming of the salvation that is ready to be revealed in the last time.
1 Peter 1:3-5 NIV
How to Live In God’s Abundance
So how do we have an abundance mindset? How can we ultimately live in God’s abundance? Even though God promises to provide for us and desires abundance for us, this does not mean we are allowed to be lazy and not do anything.
Living in abundance takes action.
Here are 3 things you can do in order to live in God’s abundance.
3 Things To Do To Live in God’s Abundance
1. Seek God First
Continue to seek God and come near to him as it says in Matthew 6:33-34. When you seek him first and foremost, he promises to provide for you. So you do not need to worry about anything.
But seek first his kingdom and his righteousness, and all these things will be given to you as well. Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.
Matthew 6:33-34
2. Take Inspired Action
In order for God to provide, he requires us to act in faith when he prompts us to do something. Proverbs 3:5-6 says that we must trust in the Lord and not our own understanding and when we do that he will make our paths straight.
Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight.
Proverbs 3:5-6 NIV
He makes our paths known, however, we must still do the walking.
3. Do It With Excellence
As we take God-inspired action, we should be striving for the utmost excellence in all that we do.
Do you not know that in a race all the runners run, but only one gets the prize? Run in such a way as to get the prize.
1 Corinthians 9:24 NIV
God has blessed us with our own unique gifts and abilities. We are filled with the power of the Holy Spirit to do amazing things. Therefore, we must pursue everything with the excellence that God has blessed us with for His glory.
In Summary
Are you living with a scarcity mindset? It is time to redeem your finances and start living in the abundance that God desires for you and your loved ones.
God’s promise of abundance may show up in many different ways in our lives. This means that His abundance could look different from the world’s idea of abundance. When we put our faith in him and detach ourselves from constantly needing more, we will begin to recognize God’s abundance in new ways.
If you’d like to cultivate an abundance mentality, I want to invite you to connect with me inside of my free, Christian, online community Redeeming Your Finances.
To continue learning about financial literacy, see the following articles in the series:
- Good Debt vs. Bad Debt: Know The Difference
- How To Create A Personal Balance Sheet
- Is It Better to Put a Large Down Payment on a House
- Dave Ramsey vs. Robert Kiyosaki: Who Should You Listen To?
Katie is a faith-based money coach with Agape Investing, where she helps equip young professionals with excellent money management skills that are rooted in the gospel so that they are set up on a path to true biblical financial freedom. Katie is also a real estate agent and investor and loves to help people get financially stable in order to buy their first, or next house. She currently lives in Denver, Colorado where she enjoys exploring the Rocky Mountains with her husband.