What Does Having Financial 'Stress' Says About You?

Have you ever wondered what having financial 'stress' says about you?

In wealth building, understanding the psychology of scarcity is essential to overcome triggers, fears, and doubts that hinder your ability to accumulate and sustain wealth. In this week's newsletter, I will share valuable insights into what underlies financial 'stress' and the intricacies of this psychological phenomenon that I gained by assisting others grow their wealth and spending years studying and researching various disciplines, including human behaviour, emotional intelligence, neuroscience, epigenetics, and mindset.

Scarcity mentality is a mindset that stems from the belief that resources are limited, leading individuals to operate with a fear of not having enough. This mentality can harm wealth building as it focuses on immediate gratification rather than a long-term investment. In a society where consumerism is prevalent, scarcity can manifest as an insatiable desire to acquire material possessions and experiences to compensate for the perceived lack.

From a behavioural science perspective, there is a lot to learn about your money behaviours:

Your outlook on life determines how much money it will take for you to be happy (or satisfied). If your goal is to have millions in the bank, but your income is only ￡45k per year, then chances are high that this will not work out well for either party involved!

The first thing I do with my clients who seek my help to create money breakthroughs is to help them get clear on what kind of lifestyle/experiences would make up an ideal day for them so that when opportunities come up where someone wants something from them (like buying something), then they can make an informed decision based upon their values rather than just reacting because "it looks cool" or "my friend has one".

This doesn't mean that you can't have nice things or do fun things, but it does mean that if your goal is to be prosperous, you will need to make choices and decisions based on what will help you get there rather than just making random purchases because they looked cool.

A more interesting topic is how a scarcity mindset can affect your relationships with others. If you have a lot of money (or access to it), you will most likely have lots of people trying to get something from them. This can be anything from free meals at restaurants to invitations for parties and events where the cost is covered by someone else.

In one of my sessions, my client shared how stressed he was because he had to go to an event, and he felt pressured to buy something new to wear because of what people would think of him, as well as satisfying that part of himself that was an attention seeker.

This can be a lot for anyone to handle, so it is essential to create boundaries around your time and money that allow you more control over what happens. This may mean saying no to certain things or people more often than not.

Having a scarcity mindset also means you will be more likely to see things as good or bad, black or white. This can cause problems because if something happens, someone makes a mistake rather than thinking about how there might be another way to look at the situation.

If this sounds like something you struggle with, don't worry; grab a copy of The Unfakeable Code? multi-award-winning book and delve deeper into discovering the root cause of your scarcity mindset. You will also learn how by being more aware of this tendency, you can better understand why things are happening in your life and what actions need to be taken to improve them.

The psychology of scarcity and wealth building is a complex concept I have studied for over three decades. And I am not alone in this pursuit. It has been studied by many of my mentors I worked with, fellow entrepreneurs, educators, psychologists, neuroscientists, and epigenetic researchers for decades. It involves understanding the triggers, fears, doubts and motivations behind people pursuing wealth-building activities.

In this newsletter, I aim to help you explore some of these concepts more deeply by examining my research on neuroscience, epigenetics and psychologist studies.

Neuroscience has revealed how our brains are wired to prioritise short-term gratification over long-term rewards when it comes to financial decisions. This means that we tend to focus on immediate gains, such as spending money on items with little thought towards future savings or investments which could yield greater returns further down the line. Neuroimaging studies have shown that this tendency is associated with increased activity in reward-processing regions of the brain, such as the nucleus accumbens (NAc). In contrast, activity in areas involved in decision-making, such as the dorsolateral prefrontal cortex (DLPFC), decreases.

These findings suggest that when faced with a choice between immediate satisfaction versus delayed benefits, there is an unconscious bias towards pursuing short-term pleasure rather than planning for future stability.

Epigenetics can also play a role in our approach towards money management and wealth accumulation because certain environmental factors can influence gene expression, affecting behaviour. For example, genes related to impulsivity may be expressed differently depending on whether someone lives in poverty or abundance; those who experience lack may be more likely to act rashly when presented with opportunities for quick gain. Similarly, stress levels caused by economic hardship can lead individuals into riskier financial ventures due to desperation.

In other words, even if one's genetic makeup predisposes them towards being cautious about their finances, they might still take risks under certain conditions if they feel like their only option for survival is taking chances despite potential losses.

I delivered over 25,000 coaching and training hours and explored how emotions factor into wealth-building behaviours. Fear plays an important role here because it can drive us toward either conserving resources (saving) or seeking ways to increase them (wealth-building);. At the same time, scarcity tends to evoke anxiety and motivates action, so people experiencing economic hardship often become creative entrepreneurs trying different income-generating methods.

In a nutshell, a scarcity mindset triggers behaviours that lead to distress. The underlying fear of losing that which you seek and the fear of gaining that which you are trying to avoid determine your money behaviours;

Doubt, meanwhile, leads us away from taking risks since we are uncertain about outcomes, although, at times, this cautionary attitude works against us, preventing us from seizing opportunities. Overall psychological research suggests that both internal mental processes along external environmental influences shape our relationship with money; whether we view ourselves as lacking or abundant impacts how much effort we put into accumulating capital.

Therefore understanding not just what drives you financially but why you make certain choices and decisions around saving/spending/investing etc., helps shed light onto strategies for promoting sustainable wealth creation.

Those of you tired of living with a scarcity mindset that hinders your ability to achieve financial abundance and feel trapped by fears, doubts, and limitations when it comes to building wealth, I invite you to work together so we can delve deep into your mindset, triggers, values, behaviours, and limiting beliefs surrounding wealth.

With my expertise in transformational life coaching and wealth psychology, we will work towards transforming your scarcity mentality into a mindset of abundance and prosperity. Consider my Twelve-week Money Breakthrough Coaching Program. During these twelve weeks of personalised consultations, you can expect the following:

1.?**In-depth Analysis**: We will analyse the psychological factors contributing to your scarcity mindset. By uncovering the root causes of your fears, doubts, and triggers, we will gain valuable insights into the areas that require transformation.

2.?**Tailored Strategies**: I will provide practical strategies and techniques to break free from scarcity and cultivate a wealth-building mindset. These strategies will be specifically tailored to your unique circumstances and goals, ensuring maximum effectiveness in your journey towards financial abundance.

3.?**Neuroscience and Epigenetics Insights**: Drawing on the latest research in neuroscience and epigenetics, I will share evidence-based insights that can help rewire your brain for wealth and abundance by understanding how your mind works and its incredible potential for change, you will be equipped with the knowledge necessary to create lasting transformation.

4.?**A Roadmap for Success**: We will develop a personalised roadmap to guide you towards financial abundance. This roadmap will consist of actionable steps, milestones, and accountability measures to ensure your progress and success in overcoming scarcity.

Don't let scarcity hold you back any longer! Take the first step towards transforming your mindset and unlocking the doors to financial abundance. Book your Scarcity Breakthrough Coaching Consultation with me today and embark on a journey that will change your life.

To schedule your consultation, e-mail my PA at [email protected] and choose a convenient time slot. Spaces are limited, so take advantage of this exclusive opportunity!

Now is the time to invest in your future, break free from scarcity, and embrace the abundance that awaits you.

I look forward to guiding you on your path to financial prosperity.

Love & Abundance

Tony J. Selimi

Award-Winning Author, Speaker, and Transformational Life and Business Coach Specialising in Human Behaviour, Leadership Excellence, and Maximising Human Potential. Nominated for National Diversity Entrepreneur of Excellence Award and Compassionate Leaders Circle Awards, Finalist of Great British Entrepreneur of the Year 2022, Winner of the London SME Most Visionary Entrepreneur , the EXPY?, Corporate Coaching and Recruitment Business Coach of the Year Award . Silver Winner of Literary Book Award , and Winner of the USA Book, NYC Big Book, Book Excellence, Top Shelf Magazine, the Quilly?, Reader’s Favourite and Maincreast Media Book Award for A Path to Wisdom , #Loneliness , The Unfakeable Code? , and A Path to Excellence and best seller in the following categories: Personal Growth and Development, Self Improvement, Self Help, Inspirational, Motivational, Entrepreneurship, HR Training, Business Life, Organisational Theory & Behaviour Management and Business and Leadership. For more information, go to https://tonyselimi.com .