Is it possible to have enough money and feel poor? To have sufficient financial resources but think, worry, and act as if you are one step away from being on the street? You might not want to admit this out loud, especially given the dire financial straits that many are suffering during the pandemic, but deep inside many people have recurring conversations in their heads as if they are impoverished.
The definition of impoverishment is: the state of lacking sufficient money or material possessions.
Your actual financial circumstances might not meet the definition, but does the way you talk to yourself and act reflect that this is how you feel?
One of the key words in this definition is sufficient. What do you believe is sufficient? The amazing author, leader, and philanthropist Lynne Twist talks about the idea of sufficiency in her must read book The Soul of Money. This is the money related book I recommend the most.
When I worked as a financial advisor, I spoke with people who had plenty of money to meet their needs (and wants) and still were constantly worried they weren’t going to be okay. Afraid to make a wrong move or spend money on things that might bring them joy. Worry and fear was their constant state when it came to their finances. Financial projections and discussion helped quell their concerns for a bit, but 2 a.m. worries would surface again. One study revealed that 25% of Americans say they worry about money all the time.
Sometimes you might find yourself in a complicated and difficult financial situation. Factors like job loss, medical conditions, economic events may impact you. This could justify feeling scared and worried, of course. But staying in this state of feeling like there is not enough, and the anxiety that goes along with that, will not only hinder your ability to find a way out but may also be detrimental to your health.
Here are some ideas to help shift away from feelings of impoverishment:
- Want what you already have. There’s more on this in last week’s blog.
- Give to those who are truly in dire straits. Generosity is an antidote to worry.
- Boost your mindfulness. Having a meditation practice allows you to more clearly see your thoughts for what they are … just thoughts.
Just as you can talk yourself into self-impoverishment, you can also talk yourself into feeling abundant.
Here’s to your prosperity,
P.S. And when you’re ready and the time is right, let me know if you want to have a conversation about how to listen to and understand your own thoughts and beliefs when it comes to money. Email me at ellen@ellenrogin.com and put “money thoughts” in the subject line.
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You can’t “want what you already have.” Desire is a feeling and we don’t control what we feel. All we can do is pretend.
I have not found generosity to be an “antidote to worry.” Quite the contrary. Anything that reduces my available resources, even for a good cause, increases my worry.
Similarly, I have not found meditation to be helpful. All it does is make me revisit past traumas. When I am alone with my thoughts they go to dark places.