Poverty remains a pressing problem, with social support playing a crucial role in its reduction. Drawing on previous research on health‐related mindsets, we propose that a growth mindset of poverty – that is, believing poverty can be changed – can have both positive and negative effects on helping intentions through increased outcome expectancy and blame, respectively. In three experiments, we found that a growth mindset of poverty is associated with increased outcome expectancy and blame, which, in parallel, mediate the relationship between mindsets and helping intentions. However, these contrary indirect effects negate each other, yielding a total null effect. Further, manipulating the relationship between mindset and outcome expectancy (but not blame) alters the relationship between mindset and helping intentions (Studies 2 and 3). By shedding light on the circumstances under which mindsets of poverty can diminish or amplify helping intentions, our research offers valuable insights for practitioners and charities dedicated to combating poverty.