- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Abundance Mindset vs. Poverty Mindset
Posted on 5/19/25 at 8:38 am to BayouBengal23
Posted on 5/19/25 at 8:38 am to BayouBengal23
quote:
you trust that money flows back when you invest in things you enjoy or believe in. This guy swears by it. Says more opportunities show itself and the money always seems to replenish itself.
That sounds like my wife's outlook. Works great as long as you're married to a high earner with joint checking accounts.
0
Posted on 5/19/25 at 8:39 am to BayouBengal23
quote:
Should I loosen up and risk running out of money before the end of each month?
If you’re truly living paycheck to paycheck, meaning you aren’t contributing to savings or retirement, no.
If you’re saving a ton for future plans, possibly, but it’s never a bad idea to continue building your nest egg.
So, my real question: are you actually living paycheck to paycheck or is that just your mindset?
Posted on 5/19/25 at 8:42 am to BayouBengal23
Some people put way too much emphasis on pinching pennies and not enough emphasis on generating more income.
Kinda what SFP was saying but if you want to actually generate wealth, it's much much more important to increase your income than it is to cut your spend down to the bones.
Kinda what SFP was saying but if you want to actually generate wealth, it's much much more important to increase your income than it is to cut your spend down to the bones.
This post was edited on 5/19/25 at 8:45 am
Posted on 5/19/25 at 8:43 am to BayouBengal23
Sound like the prosperity gospel BS spewed by certain preachers.
Money isn’t good or bad it’s an inanimate object. Be responsible, live within your means and go for experiences not “things”.
I’m looking at new trucks right now and while I could go for the top of the line, all decked out, leather version what really matters - engine, drive train, etc are the exact same thing in the base model. I can afford either, and really “want” the leather top of the line one, but at the end of the day the extra 25ish thousand on a rapidly depreciating assets seems stupid.
Money isn’t good or bad it’s an inanimate object. Be responsible, live within your means and go for experiences not “things”.
I’m looking at new trucks right now and while I could go for the top of the line, all decked out, leather version what really matters - engine, drive train, etc are the exact same thing in the base model. I can afford either, and really “want” the leather top of the line one, but at the end of the day the extra 25ish thousand on a rapidly depreciating assets seems stupid.
Posted on 5/19/25 at 8:43 am to BayouBengal23
Many of these 'abundance' people are selling something using a message people want to believe. And, people with excess funds are able to put money into appreciating assets which is smart. People on tight budgets have to spend on necessities.
Don't live beyond your means expecting things will just work out. Figure out how to create a money surplus. Invest wisely.
Don't live beyond your means expecting things will just work out. Figure out how to create a money surplus. Invest wisely.
Posted on 5/19/25 at 8:45 am to BayouBengal23
Sounds like the person you are describing with the abundance mindset has disposable income to spend and enough money already invested and that’s where their money replenishes itself from.
If you don’t have investments money is not going to replenish itself from anywhere after you spend it. Don’t go spending what you don’t have. I imagine living in debt is a lot more stressful than living paycheck to paycheck.
If you don’t have investments money is not going to replenish itself from anywhere after you spend it. Don’t go spending what you don’t have. I imagine living in debt is a lot more stressful than living paycheck to paycheck.
Posted on 5/19/25 at 8:59 am to McDonaldsBagMan
quote:It is a perception issue rather than the actual reality.
Get a better job, baw.
A person can be rich or poor and still still have either mindset.
The human mind is a complicated blend of rational and emotional capabilities - any of which can become unbalanced.
Posted on 5/19/25 at 9:05 am to BayouBengal23
I don't mind spending, but lately I basically have everything I want. I am also sick of cheap Chinese shite that breaks every other use, so I've basically got a list of things that I can upgrade, and whenever I get the urge to buy something, I look at the list and get an American made version.
Posted on 5/19/25 at 9:08 am to Suntiger
quote:
Similar to my dad except he washes and reuses ziplock bags
You must be rich if you have Ziploc bags.
Posted on 5/19/25 at 9:16 am to member12
quote:
A lot of "poverty mindset" people are incredibly conservative investors, which IMO is not healthy for people under 50 years old. My parents are like this. They are great at keeping their spending down and controlling their costs, but they were always terrible investors. They always put their money in CDs and HYSA's instead of investing in total market. Their savings just didn't grow as much as it should have. They could have probably retired early if their offense was as good as their defense.
This describes my parents to a T. My dad saved enough to retire at 47, then promptly put all of his early retirement payout into CD's, where they sat and lost value due to inflation. He'd have been as well off to shove it in a coffee can under his bed.
Tell your kids to invest young, before you get used to having new cars and a mortgage.. You won't miss what you never had and TIME is the most valuable asset you could have. Put aside a couple of hundred a month, invest it long-term and forget you even have it.
Posted on 5/19/25 at 9:21 am to BayouBengal23
quote:
I saw a video yesterday about the abundance mindset—where you trust that money flows back when you invest in things you enjoy or believe in. This guy swears by it. Says more opportunities show itself and the money always seems to replenish itself.
Manifest your destiny, king! Sigma males always come out on top!
Posted on 5/19/25 at 9:24 am to Suntiger
quote:
Similar to my dad except he washes and reuses ziplock bags multiple times. I’ll go home to a strainer full of ziplock bags. It takes him two years to go through a box!
My parents did that, and because I thought it was funny, I encouraged my wife to continue that habit so we do it too.
When we have leftover plastic forks from takeout at restaurants, we wash them in the dishwasher and use them. I like that practice in particular because we have kids, and kids are experts at losing/breaking silverware of all kinds. Obviously it's not all we have, we have a lot of metal forks too.
Posted on 5/19/25 at 9:27 am to BayouBengal23
I am someone who leans towards Poverty mindset as well, partially because I'm type A and have the next 18+ months budgeted out. Do we "spend" all of our money each month? Yes, but that's after the 401ks are funded, we have probably more life insurance than we need, tithe, savings, etc. So what's left in our main checking account is money to spend. I'd love to not pinch pennies, but I think doing that is what allows us to afford what we want to do, for the most part.
Posted on 5/19/25 at 9:30 am to BayouBengal23
Live a little, buy that Rolex and 911... 
Posted on 5/19/25 at 9:45 am to tigergal918
This sounds pretty awesome actually. Savings first, then you know more or less what you are doing with the rest.
Posted on 5/19/25 at 9:50 am to BayouBengal23
I've always operated on a poverty mindset with a few splurges here and there (travel trailer, boat, trips, etc.). While it hasn't always been easy, it's going to allow me to retire at 54. Probably my biggest sacrifice has been in automobiles. I purposely lived very close to work so that I wasn't compelled to finance vehicles. Despite decent income, I've always driven cash cars.
Posted on 5/19/25 at 9:57 am to ExtraGravy
quote:
we have a lot of metal forks too.
Braggart.
Posted on 5/19/25 at 10:15 am to Tantal
did you raise children, and how are they fixed for education?
what kind of work do/did you do?
That's very interesting. What are you going to do with your time / days, if you are retiring at the age of 54.
what kind of work do/did you do?
That's very interesting. What are you going to do with your time / days, if you are retiring at the age of 54.
Posted on 5/19/25 at 10:30 am to ExtraGravy
quote:
we have a lot of metal forks too.
Posted on 5/19/25 at 10:32 am to ExtraGravy
quote:Three. The older two are 25 and 22 and are out on their own. The youngest is 15. He'll graduate from high school with a EMT certificate, then wants to get his Paramedic license at the JuCo and be a fireman.
did you raise children, and how are they fixed for education?
quote:
what kind of work do/did you do?
Cop.
quote:
What are you going to do with your time / days, if you are retiring at the age of 54.
Probably nothing for the first year or two. Losing my wife at such a young age (47) taught me that we don't know how many trips around the sun we're going to get. There are things that I want to see and do and places that I want to go before my health starts to inevitably decline. I may get it all out of my system in the first year, then take a run at a second career. OTOH, I may never hit a lick again in terms of gainful employment. At 54 I'll be financially prepared for either one.
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News