Reading the stock market news everyday can be quite depressing! I read financial news every couple weeks and lately it's just been news about how the market may crash, how the real estate and mortgage industries are still in a slump, and how stocks are taking a tumble.

It's no wonder why people are living in a state of fear! If you're reading that kind of news everyday, it's going to start messing with your psyche.

I came across this little tidbit from an article, How to Prosper From a Bear Market. The advice is for financial advisors, but there's something to learn for everyone...

Your aversion to bear markets may stem from the fact that you view gaining new clients more difficult than keeping your existing clients. That's simply a function of your false scarcity mentality. There is, in reality, no scarcity of qualified prospects. As an analogy, ask any investment banker if there was any of scarcity of money for investment in companies with no revenues and no earnings. The banker knows that money is abundant and all that’s required is a good story. Similarly, prospects and new clients are abundant and any other perception is simply inaccurate.

In general I think where people go wrong when it comes to money is that they think there is a lack of it. There will never be a lack of money! Ok, so you lose $10,000 in the stock market - that doesn't mean you can't make that back. Don't dwell on it. Take the punch and keep on moving. Don't live in this state of fear that makes you stop doing anything. There is always money out there just waiting for you to claim it. If you can't make money in the stock market, there's always real estate...and if you don't want to make money in real estate, you can invest in bonds or private businesses.

The possibilities are endless.

I leave you with a quote from Stephen Covey...

"Most people are deeply scripted in what I call the Scarcity Mentality. They see life as having only so much, as though there were only one pie out there. And if someone were to get a big piece of the pie, it would mean less for everybody else."

Photo Credit: Mike Licht, NotionsCapital.com