Have you ever been told that you have a poverty/scarcity mindset? People usually use the term ‘poverty mindset’ when you’re always looking for freebies or trying to avoid spending at all costs. While this may be true, it does not summarize what it means to have a poverty mindset. Alan Weiss, PhD describes the poverty mindset as ‘one that influences behaviors consistent with beliefs that money shouldn’t be spent, opportunities are limited, any risk at all is dangerous, any success is temporary and non-replicable, and generally remaining in the back of the pack is safest.’ Poverty mindset is living in scarcity and in fear that there will never be enough. It is living in fear that things will never work out, that even what you have now can be taken from you at any moment and that wealth is beyond your reach. When you have the mindset that you can never be rich, you will find yourself doing the same things that will keep you poor. You won’t be bold enough to take risks, so investments won’t be an option for you, even low-risk investments. That means you’ve shut the door on one big way of building wealth. Also, when you have a poverty mindset you realize that you shield yourself from wealthy people. Having a mindset that is fixated on poverty and scarcity precludes you from the opportunities that may present themselves as your get-out-of-poverty card. In this week's episode, I discuss poverty mindset, why so many people of color are stuck there and what we can start doing right now to break free from a poverty mindset and start stepping living a life of abundance. Make sure to subscribe, leave a rating and post a comment if you enjoyed this episode. Share with your networks and let them know why they too should subscribe to the Woman of Faith podcast. If you want to make topic suggestions or have a question or comment you want us to address on the podcast submit it to [email protected] Connect with us on Instagram at @womanoffaithpodcast and @iamnancyruffin. To join the Woman of Faith Bible Study sign up here. --- Send in a voice message: https://podcasters.spotify.com/pod/show/womanoffaithpodcast/message Support this podcast: https://podcasters.spotify.com/pod/show/womanoffaithpodcast/support