On the Verge of Bankruptcy to Financial Freedom, Is That Possible???
Creating wealth is a mindset best followed by surrounding ourselves with really smart people who know how to accelerate wealth and pay as little taxes as possible. That’s it, that’s the secret. Sounds so simple but it is the first part that is perhaps the most challenging.
This week on the PowerPassionProsperity podcast I interview Kerri Birkley. She tells her story of how she was literally on the verge of bankruptcy with no money and lots of debt when she made a remarkable discovery. It was her mindset that was making her poor. I know you’re wondering, her mindset? Wasn’t it her lack of gainful employment and paycheck? Well to some degree yes, but there are many people who are employed who still struggle making ends meet. Let’s look at how she turned her fortunes around, literally and figuratively.
Kerri, like so many people suffered from a scarcity mindset. Which in the simplest terms, is the belief that there will never be enough – whether it’s money, food, emotions, or basic necessities to survive. These thoughts stem from a place of lack. Instead of believing that we have enough, and there is plenty to go around, we cling to everything we have out of the fear of coming up short. We feel jealous of other people’s success and are resentful of people who have nice things.
Where Do People Learn Their Mindset?
How do we come by these feelings and thoughts you ask? Well most commonly they are passed down by our parents, social influencers, teachers, friends, and family. Politicians do this to manipulate people to become angry and to make them feel that their current situation in life is due to the filthy rich. They want people to feel only they can correct this injustice. The reality is they are making the problem worse.
The scarcity mindset prevents anyone from achieving wealth for several reasons. First, when we’re constantly focused on keeping what we have, we don’t pursue new opportunities. Secondly when we are stuck in a scarcity mindset we feel a lack of worthiness. We don’t believe we deserve wealth and success. Thirdly, we put off making proactive purchases that would save us money and instead wait until a crisis occurs. Changing our oil for $29 is a lot better than replacing a motor for $5K. There are plenty of other examples as well.
The Words We Choose…Matter
In Kerri’s experience, she learned that changing her mindset started with changing her inner dialogue. If she didn’t have the money to buy a new coat, instead of saying “I can’t afford it,” she would say, “I have other priorities at this time.” Language matters because we are programming our subconscious mind with every disempowering thought we have.
Another technique is letting go. Scarcity often occurs when we hoard things. We simply hang on to things too long. Donate or give away something every time you make a new purchase. This completes the circle. Only when we learn how to give do we learn how to receive. And remember, someone is always worse off and could use the help.
Be Happy For Other’s Success
Avoid comparing yourself to the Joneses. In today’s immediate gratification society, far too many people are living with maxed out credit cards. They are living with a pile of debt which is very stressful.
Be happy for other people’s success, in fact, applaud their success. Associate with them and learn what they have done to attract their success. Who we associate with are an important key to developing an abundance mindset.
Be sure to check out this week’s interview with Kerri. It is inspiring to know that anyone can go from broke to wealth if they are willing to start by changing their mindset. Her rags to riches story and others like it have been told a million different times. Interestingly, if we remove lottery winners, most of those success stories all began their transformation with a change in mindset. You might be familiar with the statistics behind lottery winners. 95% of winners are completely broke after just 3 years. Why? Because they never changed their scarcity mindset and returned to where they were before.
Dr. Jay Founder & CEO
EmPower Your Dreams, Ignite Your Passion, Accelerate Your Prosperity
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