The Power Of Your Money Mindset

A common saying, we have heard is that “Money is the root of all evil.” Surprisingly, that is not the original quote, but like many famous sayings, it’s been misremembered and misinterpreted over time. The original quote is from a Bible verse found in First Timothy 6:10 that says, “For the love of money is a root of all kinds of evil.” The meaning behind this quote is not a denunciation of money or a prohibition against wealth. Instead, it highlights that having the wrong kind of attitude towards money is what can negatively influence your life. We have seen that most of our clients do not think of their money as evil, although sometimes they have conflicting attitudes toward it. In speaking with clients about how they relate to money, I find that most will fall into one of two groups. They either have what I think of as an abundance mindset, or they have the reverse, which is a scarcity mindset.

Personally, I gravitate toward the abundance mindset which tends to have a more optimistic outlook. This impacts both my business and personal life. I like how poet Anne Sexton defines this concept as “Abundance is scooped from abundance yet abundance remains,” from her book, The Awful Rowing Toward God. That line appeals to me because when you take from abundance, it doesn’t go away. This is the opposite of a scarcity mindset which is a zero-sum game, meaning that there is only so much wealth to go around. Someone who has an abundance mindset does not win because the other person lost. Not everything is a competition. I believe that with the right attitude, we all have the ability to prosper, not just with money, but in relationships and every aspect of our lives.