Your Abundance Mindset Might Be All Wrong

You Might Be Thinking About Abundance All Wrong

Representative Jeremy Gray of Alabama’s House of Representatives, who introduced the new law (House Bill 246), claimed that the state Senate altered the bill with limits, but that he persuaded his colleagues in the House to agree with the final form so that it might reach Gov. Kay Ivey’s desk.

The problem with focusing on personal abundance

The poisonous positivism that permeated the women’s discourse was palpable. It is always bad to get messages such as “Stay Positive No Matter What,” “Raise Your Vibration,” and “Your Circumstances are a Direct Result of the Energy You Project Into the Universe.” However, they are particularly harmful to our health and well-being at this time since they do not take into consideration our actual circumstances. My principal source of income as a yoga instructor was eliminated a few months ago when my local studio was forced to reduce its programs as a result of COVID-19 measures.

I was also concerned about what this would entail for me in terms of my financial and professional future.

In the midst of this, these ladies were packaging their grief into an online course that further embarrassed and devalued people’s lives.

A better way to think about lack and abundance

That the women involved were defining lack mentality as something that prevented people from achieving their most desired goals—financial or otherwise—without first acknowledging their own privilege or actively seeking ways to assist people who were struggling to afford food nearly a year into the pandemic was the most disturbing part of the conversation for me. Both of these coaches have never shown support for social justice movements or participated in any form of charitable activities that I am aware of.

  1. I remember my friend Jen Pastiloff organizing a three-month-long fundraising effort in the style of Instagram Live discussions, themed after her iconic workshops and successful book, On Being Human, during the start of the epidemic.
  2. Countless spiritual coaches, yoga instructors, authors, and activists have blazed new trails for those of us who are seeking for new methods to assist individuals who are experiencing difficulties.
  3. Others have turned to political activity, establishing free programs, counseling, seminars, and workshops for the benefit of individuals who are experiencing difficulties in their lives.
  4. It is not possible to entirely eliminate the lack mindset from one’s life.
  5. Mindfulness does not imply that we should ignore our own misery, poverty, or difficulties.
  6. It also entails acknowledging structural inequalities that contribute to poverty, suffering, and the plight of others, especially those whom we are most likely to separate ourselves from in order to prevent pain and grief.

Support Your Local Yoga Community (also see: Support Your Local Yoga Community

Abundance for all

I logged out of the live chat and grabbed a pen and piece of paper. I started compiling a list of all the things in my own life and the world that made me feel less than and helpless: how the pandemic prevented my child from learning social skills, and how I wasn’t meeting all of his educational, emotional, and social requirements. I ended up with a long list. As an alternative to telling myself that these were the things that were holding me back, I accepted that they were all very valid fears of mine.

  1. The assistance arrived.
  2. My goal with this list was to identify ways in which I might utilize my privilege, my voice, and my tiny platform to assist others and acknowledge their hardship in meaningful and lasting manners.
  3. I had to accept this truth.
  4. Our group met once a week to check in on each other.
  5. In entering the state of Seva (selfless service), I was not only assisting others, but I was also establishing an abundant attitude for myself as well.
  6. Our individual and community wells of wealth should not be subjected to monetary restrictions.
  7. View this meditation on abundance as well:Embrace Your Bounty With This Meditation on Abundance

5 Ways To Go From A Scarcity To Abundance Mindset

An abundant mindset refers to the belief that there is enough for everyone and everything in the world. Getty “The mind is everything, and what you believe becomes what you become,” says one of my favorite phrases. It is absolutely correct. Success in business, athletics, and life in general is heavily influenced by one’s attitude toward one’s circumstances. In addition, there is quantitative evidence to support this. Carol Dweck, a Stanford psychologist, conducted a study on the attitudes of young schoolchildren.

  1. Another study on middle-aged persons, carried out by researchers at Yale and the University of Miami, discovered that those who had more positive ideas about aging lived 7.5 years longer than those who had fewer positive beliefs about aging, according to the findings.
  2. Another way of looking at this phenomena is to compare it to the difference between having a scarcity mentality and having an abundance mindset.
  3. Individuals who have a scarcity mentality perceive life as a finite pie, and believe that if one person takes a large slice, it leaves less for everyone else.
  4. No surprise when promotions and increases are sparse, resources are restricted, managers hoard information, micromanagement is rampant, and short-term thinking is the rule rather than the exception.

Many of us are hindered in our efforts to achieve our objectives by a scarcity mentality. An abundant mindset refers to the belief that there is enough for everyone and everything in the world. We then have to ask ourselves, “How can we make the transition from a scarcity to an abundance mindset?”

1.) Focus on what you have

While considering a career shift but haven’t taken the plunge yet, you’re probably thinking things like, “There aren’t enough decent jobs out there,” and “There aren’t enough excellent jobs out there.” “I don’t have enough transferrable abilities,” or “Who am I fooling, there’s too much competition,” are both valid reasons for not applying. All of these concepts are predicated on scarcity, on what you don’t have. When you have a scarcity mentality, you perceive restrictions rather than chances.

Instead of wallowing in self-pity, consider how wonderful it is to finally have the time (and perhaps the money if you received a severance package) to think about what you REALLY want to do with the rest of your life.

2.) Surround yourself with people that have an abundance mindset

“There aren’t enough excellent jobs out there,” you may be thinking if you’ve been thinking about changing careers but haven’t taken the plunge yet. If this is you, you’re not alone. There is too much competition, or “I don’t have enough transferrable abilities,” or “Who am I fooling, there is too much competition.” The concepts of scarcity and what you don’t have are all present. Instead of seeing opportunities, those with a scarcity mentality see constraints. Replace unpleasant ideas with positive ones such as, “Wow, I have 25 years of marketing expertise that will be a major advantage if I ever decide to start a business” or “Over the previous 10 years, I’ve built fantastic connections that will be vital when I begin networking for my next job.”.

If you’ve recently been laid off, instead of wallowing in self-pity, consider how wonderful it is to finally have the time (and perhaps the money, if you received a severance package) to consider

3.) Create win-win situations

A scarcity mindset holds that if one person gains, another loses, and vice versa. In order to overcome this way of thinking, try to create win-win situations in your personal life. Investigate options for ensuring that both parties depart with a sense of success and a more positive outlook on the relationship. You should consider incorporating this into your personal and business lives.

This frequently entails listening without interrupting or censoring what is being said, completely comprehending what a win-win situation means for both of you, and discussing ideas until you discover one that is acceptable to both sides.

4.) Incorporate gratitude into your daily life

‘If you look at what you have in life, there’ll always be more,’ says Oprah Winfrey. If you look at your life in terms of what you don’t have, you’ll never have enough.” It is quite tough to be filled with dread or grief while also feeling appreciative at the same moment. It is commonly accepted that cultivating appreciation is one of the most effective ways to improve one’s overall well-being. After doing study on thankfulness in 2007, Robert Emmons, a psychologist at the University of California, Davis who was also the founding editor-in-chief of The Journal of Positive Psychology, came to the conclusion that expressing appreciation enhances both mental and physical well-being.

One method to put this into practice is to make a list of five things you are grateful for each day.

Include even the most insignificant details that you may take for granted, such as a nice mattress on which you can sleep and the ability to breathe clean air.

5.) Train your mind to recognize the possibilities

You may see more in your life when you have an abundant mindset: more possibilities, more choices, and more resources, for example. The findings of a fascinatingHarvard research revealed that when we concentrate intensely on one thing, we may entirely overlook other options that are there in front of us. Because the brain is only capable of processing a limited amount of information, if your belief is that “I can’t do it” or “it’s impossible,” any other ideas that contradict that belief will be rejected.

What would you be doing if you had all the time and money in the world and you know you couldn’t fail is something to consider.

At the end of the day, remember that what you think is what you will receive.

Wondering if it’s finally time to make a job or career change?Take my free 60-second career quizand find out!

Learn how to apply these ten strategies to your life in order to live in plenty. Profit from your efforts even when faced with difficulties. Your state of mind may have a significant impact on the trajectory of your life. According to an overwhelming body of data, the way you think about yourself and the environment around you may have a significant impact on how you learn, how you handle stress, how you achieve success, your resiliency, and even the way your immune system operates. Stephen Covey developed the termsabundance mentality and abundant mindset in his best-selling book The Seven Habits of Highly Effective People, which was published in 1989 and remains in print today.

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Against this is the scarcitymindset (i.e, destructive and unnecessary competition), which is based on the belief that if someone else wins or is successful in a situation, that means you lose; this does not take into consideration the possibility of all parties winning (in some way) in a given situation.

The cultivation of an abundant mindset has gained widespread recognition since that time as a worthwhile activity in the pursuit of personal and spiritual development. Most people believe that developing an abundant mentality helps you to do the following:

  • Live a life that is limitless, complete, and satisfying
  • Demonstrate pleasure in spite of the circumstances
  • With ease, you may give and receive loves and valuable objects of high worth. Enjoy feeling abundant, creative, and motivated
  • New chances should be taken advantage of and enjoyed to the fullest extent possible Create life experiences that are memorable and significant
  • In your life pursuits, feel safe and confident in your abilities, and achieve successful achievements.

Katia Verresen, Executive and Leadership Coach, provides some frequent instances of how to assess whether your thinking is one of scarcity or plenty in the form of an useful graph: (Image courtesy of Shutterstock) By being familiar with the indications and signals of both an abundance and a scarcity mindset, you may begin to develop an awareness of where you could be falling on the spectrum of emotions.

Below, you will find ten methods to cultivate an abundant attitude in your life right now: 1.

Cultivating awareness may assist you in determining if your ideas are producing a mentality of scarcity or an abundance of opportunities.

ACTION: Consider the following question if you are experiencing less-than-spectacular outcomes in any aspect of your life: “Are my ideas about this founded on fear and scarcity?” If this is the case, then ask yourself, “What do I need to do to alter my perspective to one of abundance?” Make a list of your goals or share them with a buddy to hold yourself accountable.

  • Develop an Attitude of Gratitude Exercising gratitude is one of the most effective and well acknowledged methods of attracting plenty and pleasure into one’s life.
  • ‘If you look at what you have in life, there will always be more,’ says Oprah Winfrey.
  • Make an effort to record at least 10 items.
  • 3.
  • A constricted consciousness is the greatest adversary of plenty.
  • Developing an enlarged awareness and a loosening of the mind’s concentration are essential for cultivating an abundant attitude.
  • Make a conscious effort to declutter your thoughts and make room for fresh and bountiful opportunities to emerge.

Cultivate and communicate your personal passions and purposes.

Learn how to offer your talents and provide value by assisting people who would gain the most from your efforts.

ACTION: Download this free checklist, which outlines the specific actions you take in order to build a successful personal brand.


Mastery experiences are historical instances of achievement that have resulted in the development of mastery in a certain field.

ACTION: Create a significant objective for yourself that you want to attain.

Concentrate on the tiny, manageable phases in the process, and you will be well on your way to achieving your objective.

Choose Your Phrases Carefully The language you use, as well as the stories you tell yourself and others, all influence your reality.

ACTION: Pay attention to what you are expressing about your experiences and beliefs whether you are having a discussion with a friend or with the Universe in general.

Then, from a place of abundant mindset, say something that is plausible.

Develop a mindset that is more than just growth-oriented.

The author Carol Dweck argues, “People who believe in the development of their most fundamental talents via devotion and hard work—brains and talent are only the beginning point—have a growth mindset.” This kind of thinking fosters a passion for learning as well as the perseverance necessary for significant success.” A growth mindset is inextricably linked to an abundance attitude, and vice versa.

  1. ACTION: Develop an inquisitiveness about other individuals and their life experiences.
  2. Instead of talking about your life or providing your own counsel, practice simply listening to their responses and learning from what they have to say.
  3. 8.
  4. The capacity to retain an attitude of openness and excitement, as well as the desire to overturn previous prejudices (like a genuine beginner would), regardless of how knowledgeable or experienced you are, is what the beginner’s mentality is all about.
  5. 9.
  6. Humans have a proclivity to perceive the negative aspects of a situation more readily than the positive aspects.
  7. Evolution has really shaped the way your brain is structured in this manner.

Optimists, on the other hand, focus on an abundant attitude and live healthier and longer lives.

Instead than concentrating on what is wrong and attempting to correct it, concentrate on what is actually going properly as it relates to the issue and explore methods to support it even more effectively.

Repeat Daily Abundance Affirmations in your head.

Affirmations can assist you in shifting your perspective from one of scarcity to one of plenty.

ACTION: Write down what you believe is going to happen as a result of your fear and scarcity-based voice.

Make use of the second list as a starting point for your own customized daily affirmation list.

Utilize these action actions to access your own well of plenty as your awareness grows and you become more aware of any scarcity mentality that may be manifesting itself.

Discover the 7 Key Traits of an ‘Abundance Mindset’

In life, our frame of mind dictates the path we will follow. One route is paved with poverty, but the other road is paved with riches at every bend in the road. We have the ability to alter our minds about the route we wish to take at any time. On the shortage track, one will have the opportunity to live a life that is only partially lived, a life that can only be defined as pedestrian. Strong negative responses, such as a high tide that forms waves in a rock pool, are overflowing, not to mention the innumerable possibilities and experiences that have been lost as a result.

Choose to live life fully, exuding happiness, being giving with one’s time and resources from nature, and being creative and inspirational.

“The trick to having it all is thinking that you already have it,” as the famous statement says.

1. Thinking Big vs Thinking Small

Those with an abundant mentality are well-known for having a vast picture in their heads; it is in their DNA. The scarcity mindset imposes restrictions on the mind, which limits the achievement of bold objectives.

2. Plenty vs Lack

An abundant mentality holds that there is an abundance of everything in the world, from resources to love and relationships to riches and possibilities to be had. They feel they are able to afford anything they desire in life and express this belief by saying: ‘I can afford it.’ Those who believe in a lack mindset choose to believe that there are only a limited number of chances, resources, relationships, love, and riches available to them instead. This is something that they repeat over and over: “I cannot afford that.” By repeating the phrase every day, you will strengthen your conviction and will help to create that precise pattern in your life as reality.

3. Happiness vs Resentment

Having a positive outlook and being genuinely delighted for others when they accomplish success are characteristics of someone who has an abundant attitude. Those that have a scarcity mindset, on the other hand, are competitive and hate other people’s achievement.

4. Embracing Change vs Fear Of Change

The attitude of abundance recognizes that change is a natural aspect of life and that it should be welcomed. They embrace and accept change. Being cognizant of the reality that change frequently results in more beneficial outcomes, even when change is difficult or time-consuming to traverse. Those who have a scarcity mindset are plagued by fear. They will spend a significant amount of time continually whining about change and will take a lengthier period of time to accept change once it occurs.

5. Proactive vs Reactive

Those who have an abundant mentality approach life with a good attitude and a proactive attitude as a result of their abundant mindset.

People who have a growth mentality strategically prepare for the future and develop plans for the long term, as opposed to those who have a scarcity mindset who just wait for things to happen and then react.

6. Learning vs Knowing It All

An abundant mentality yearns for new experiences and opportunities for growth. They have an insatiable appetite for information and the development of new abilities, whereas those with a scarcity mindset feel they already know everything, so drastically restricting their ability to learn and grow.

7. What Is Working vs What Is Not Working

A person who has a scarcity mindset prefers negative thinking and views himself or herself as a victim. Because of the intense emotions they encounter on a regular basis, stress builds up in their bodies, with the gamut of emotions ranging from anxiety to fear to concern to rage and resentment. Their bad emotions, attitudes, and beliefs cause ailments in the body, which in turn leads to widespread ill health in the population. On a daily basis, they are concerned with “what is not functioning.” Those who have an abundant mindset are frequently visionaries who see the world as being full of endless possibilities.

Making the decision to take a different route is the first step.

Abundance Mindset: Is it fluffy nonsense or total genius? — Health Match 360

I was born with an anxious temperament, despite the fact that I am instinctively optimistic. That makes for an intriguing balancing act because I may easily go to one extreme or the other depending on the situation. My optimism may be borderline Pollyannaish at times, while my pessimism can be borderline catastrophic at others. It’s important to note that if you haven’t heard it before, you should: The process of starting your own business will bring all of your anxieties and insecurities to light.


There will be days when you will call into question all you thought you understood about your own personality.

and then the next day you will be humbled once again.

Scarcity MindsetThere is not enough (success, wealth, clients, business, love, etc.) to go around.When someone else wins, I lose.

My BS was called out by a good friend and coworker, as all good friends should do (shoutout to Dr. Julia King). I was listening to her speak about the necessity of having an abundant attitude, and my first reaction was, “What the hell is an abundance mindset?”

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Abundance Mindset There is more than enough (success, wealth, clients, business, love, etc.) to go around. One person’s victory does not mean your defeat.

Following her explanation of the notion, my second thought was, “How can I feel abundant when I have no clients?” I briefly ignored her advice and made a series of decisions based on my feelings of dread and shortage, which I later regretted. I said yes to a number of possibilities that did not appeal to me at all. It was difficult to resist the sinking sensation in the pit of my stomach that shouted, “don’t do it!” I took on customers for whom I knew I wasn’t the right fit, despite my best efforts.

  1. It took some time, but I ultimately finished my caseload and booked myself well beyond the point of fatigue.
  2. While I was trying to construct a practice that was draining me, she was carefully and painstakingly building her own practice from the beginning.
  3. She refused down recommendations, she turned down contract chances, she turned down everything and everything that did not align with her aims and principles.
  4. On top of that, the “referral gods” continued to send her referrals in her direction.
  5. I came to the realization that there are more than enough customers to go around.
  6. More than enough success has been accrued to all parties involved.
  7. In fact, it re-energized my spirit.
  8. We aided one another in their development and construction.
  9. I was able to attract the proper individuals into my firm very fast, and I was able to build a business that excited me.
  10. It is an unavoidable element of the business path, no matter how successful you are.

As a result, if I had behaved from a position of scarcity, I would have begun reaching out to anybody and everyone, asking for references. I would have taken advantage of any and all opportunities that presented themselves to me.

I would have rebuilt the original model of a full practice on an empty tank.

I was fortunate in that I had put my prior teachings to memory and had avoided the temptation to join the dark side. I made the decision to express thankfulness for the extra time that had opened up in my calendar, and I spent it working on my website, booking networking meetings, and going for walks. I sought the assistance of friends and colleagues in order to maintain accountability. As soon as a new possibility presented itself that did not immediately strike me as appealing, I bounced it off of one of my Accountability Buddies, who kindly and firmly told me “no.” I shifted my attention away from my practice and into improving other aspects of my life and practice that I had been neglecting.

  1. I’m sure you can predict what occurred after that.
  2. That, however, is not what occurred.
  3. I had even more energy and excitement to treat the customers that I was seeing, so I made the decision to make up for the revenue shortfall by finding additional sources of income.
  4. It is unlikely that any of this would have occurred if I had not had a few weeks of drought or if I had not reacted in a panicked manner.
  5. It was during yet another quiet season when the concept for this platform emerged.
  6. That I was overflowing with referrals and couldn’t possible keep up with them all.
  7. I had more than enough, and I was ready to use it to create something that would allow others to have more than enough as well.

Another gift that came from a decrease in revenue— A lesson you won’t learn in business school.

Not to diminish the fact that I am constantly humbled and confronted with challenges. The difference today is that I approach them from a place of gratitude and curiosity. at least, for the majority of the time. I’m still human, and I do have bad days every now and again, but I immediately shift back into my abundant attitude and move on with my life as best I can.

My final take away message: There is more than enough for each and every one of you. Claim what resonates and pass on what doesn’t. You will be stunned by the beautiful practice you can build.

I’m sending you all of my positive energy. Bailey C. Bryant, Psy.D., is a licensed clinical psychologist and the founder of Health Match 360, a social enterprise. This publication is intended to give broad information on the subject matter addressed, provided by a professional with experience in the field. Neither psychological nor therapeutic advice is intended to be provided.

However, despite the fact that it has been created by a professional, this book should not be used as a substitute for professional service in specific situations. If you want mental health counsel or other expert assistance, you should seek the help of a qualified professional right once.

Mastering the abundance mindset ~ Get Rich Slowly

Positive energy is being sent your way. The Founder of Health Match 360 is Bailey C. Bryant, Psy.D., a Licensed Clinical Psychologist. This publication is intended to give broad information on the subject matter addressed, provided by a professional with expertise in the field. Not meant to be a source of psychological or professional assistance. While this material has been written by a professional, it should not be used as a substitute for professional help in specific situations. It is recommended that you seek professional assistance if you require mental health guidance or other expert support.

Scarcity and Abundance

I’ve been hesitant to bring up the subject of scarcity and abundance since the phrases have been co-opted by “Law of Attraction” types who use them to urge people to believe in their own magical abilities. When it comes to these principles, I despise the New Age-y approach. In this section, I’d want to explore them from a psychological standpoint.

  • When you have a scarcity mindset, you assume that everything has a finite quantity. There is a time restriction. There is a limit to the amount of money available. Love has its limits. You get concerned about the future as a result of this. You’re more worried with what may go wrong than you are with what could go well, whether consciously or unconsciously. You make decisions based on your fears. You’re worried about missing out on something. You’re worried about running out of resources. You have difficulty with moderation and frequently engage in “all or nothing” conduct
  • Nonetheless, you have an abundance attitude, believing that there is enough for everyone. The world is abounding in material prosperity, social status, and personal happiness. You have a positive outlook on the future. Even if there are hiccups along the road, you are certain that everything will work out. In order to make judgments, you must consider the Big Picture rather than a specific point in time. It is simple for you to strike a balance between future and today.

I’ve already blogged about my difficulties with impulse control. My issues with overspending, overeating, video game addiction, excessive alcohol usage, and borderline hoarding behavior have all plagued me in the past. (I have an obsessive-compulsive need to accumulate things.) It is the scarcity mindset that is the root of all of this — the compulsive buying, the addictive tendencies, the lack of self-control. But it wasn’t until a few years ago that I realized what was going on, thanks to the assistance of my therapist.

  • Even when things are going well in my life, my default thinking is that if I want something and it is readily available, I should have it right now.
  • This was my father’s way of thinking.
  • My brothers are also suffering from it.
  • Thousands of dollars in repairs have been required since we moved into our new home on July 1st, costing us tens of thousands of dollars.
  • After that, we’ll work on replacing the deteriorating back deck and installing a hot tub, which we feel will complete our home improvement task list.
  • (Truth be told, she and I both take many hot baths per week at the moment.) Our hot tub would be the perfect place for us to relax together.) It is not a matter of whether or not we will benefit from the construction of an outdoor paradise.
  • I’m apprehensive about spending any more money on house improvements.
  • I despise the thought of having to cash out yet another portion of my index funds.
  • To me, it feels like it’s money that I’ll never see again.
  • I am aware that this is the result of my scarcity mindset taking hold, yet I am unable to escape these sentiments.

Financial well-being is inextricably linked to the ability to anticipate and plan for the future. Examine three ways in which the scarcity mindset manifests itself — and how to replace it with an abundance mindset in the process.

Jealousy and Spite

Some people’s scarcity perspective reveals itself as feelings of envy and malice. These people are resentful of other people’s achievement, whether it be financial or otherwise. When something excellent happens to a friend or family member, they find it difficult to feel joyful about it. They are territorial, and they are averse to working together for the sake of the larger good. Here’s how Stephen Covey expresses this particular taste of scarcity in his book, The Speed of Success. The Seven Habits of Highly Effective People (HPE) are as follows: The majority of people who have a scarcity mentality perceive everything as a win-lose situation.

  1. Because of this sort of scarcity mentality, most people in the United States have a love-hate relationship with their riches.
  2. She feels that when she produces money, it is as a consequence of her hard work and ability to manage her time.
  3. They’re unlucky jerks who didn’t earn their good fortune.
  4. This frequently presents itself in the form of gossip and grumbling.
  5. When they are at their most severe, they actively attempt to undermine the achievement of others.
  6. What should you do if you have a scarcity mentality like this one?
  7. Recognize that my achievement does not detract from your own.
  8. In order to accomplish this:
  • Don’t compare yourself to other people’s accomplishments. Concentrate on yourself, your own ambitions, and your own successes. If you have to compete, compete against yourself first. Strive for continual self-improvement
  • Adopt a win-win approach to life and relationships. Investigate strategies to enhance your personal condition while simultaneously providing assistance to individuals in your immediate vicinity. Avoid attempting to be the “victim” in a quarrel
  • Instead, work for a solution that is advantageous to both sides. Make it a point to learn to share. Make a conscious effort to offer things — time, money, and resources — to other individuals. When you have an excess of anything, share it with others around you. (More on this in a moment.)
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It is possible to overcome feelings of jealousy and malice, but it requires effort. Making the effort is a terrific way to shift your perspective, resulting in a better life for yourself and others around you in the long run.

Never Enough

The scarcity attitude presents itself in others as apprehension about the future. These individuals think and behave as though they are offspring of the Great Depression. When people are anxious about how awful things may get, they lose sight of the fact that they already have a lot, which they should be appreciating and appreciating. Allow me to give you an illustration. I had had a conversation with a woman who had more than $6 million in her bank account. She was my age — in her mid-forties — and she had a simple life, as did I.

  • In addition, she had recently been offered a job that earned half a million dollars per year.
  • This isn’t true for her.
  • By using traditional inflation and stock market assumptions, this woman could likely spend $240,000 each year for the rest of her life and still come out ahead financially.
  • Others take a more severe stance.
  • — that they refuse to spend on necessary house repairs and medical expenses.
  • These individuals are not causing harm to anybody else (at least not directly), but they are causing significant harm to their own health and well-being.
  • People who have a scarcity mentality are never satisfied with their lives.

They will not be able to sleep well at night no matter how much money they have. What if you get the impression that you will never have enough? You should maintain score, as opposed to others who are afflicted by envy and hatred. There are two methods to go about it:

  • First and foremost, keep a notebook – a basic daily diary will suffice. It is not necessary to include specifics. Organize your thoughts by writing down the most significant events in your life. And make a mental note of at least one thing for which you are grateful every day. Every year at the conclusion of the calendar year, go back and re-read everything you’ve written. (The benefit of this exercise will rise the longer you continue to do it.) Second, keep track of your net worth and expenditures. You should be aware of how much you have and how much you require. Keep in mind the following rule of thumb: for every $25 you have saved, you may probably spend $1 every year without feeling guilty. (If you’re feeling very jittery, you might modify it to $1 for every $30 or $40 saved.)

If you have more than enough money saved up but are still worried about the future, you should push yourself to spend it. I’m not joking around. Choose something you’ve desired to accomplish or have for a long time and go for it. Money is a tool for achieving a better quality of life. What’s the sense of having a tool if it’s not being used?

Instant Gratification

Finally, there are those like myself who find it difficult to be patient while they wait for what they desire. We’re “shopaholics” and “compulsive spenders,” as the saying goes. With our particular kind of scarcity mindset, we’re so pessimistic about the future that we’re enjoying ourselves much too much in the now. We want everything, and we want it right away. I had nothing saved a decade ago, when I was still having financial difficulties. There will be no retirement, no nothing. What I should have been doing was paying off my debt and laying the groundwork for a secure financial future for my family.

  • It never occurred to me to take a breather.
  • To recap, as I indicated at the outset of this piece, my therapist assisted me in understanding that growing up poor had resulted in me having a fear of the unknown and being unable of deferring gratification.
  • It was through my transformation from spendthrift to money manager that I learnt to put off future expenditures.
  • People with this type of scarcity mentality are similar to those in the previous group in that they never have enough.
  • More stuff is required rather than more money, as opposed to the reverse.
  • There is no amount of material stuff that can bring us happiness.
  • Make a habit of practicing the art of postponed pleasure.
  • The way it works is as follows:
  1. When you come across anything you like, make a mental note of what it is, where you saw it, and how much it is going to cost. Nonetheless, do not purchase it just yet
  2. Instead, search for free or inexpensive alternatives during the following 30 days. Is that book available at the library? Is it possible for you to borrow that tool from a friend? Is it possible that the local thrift store has a shirt comparable to this one? If you still desire the item at the end of the 30-day trial period, you should consider purchasing it. In the majority of situations, though, you’ll discover that the desire to acquire has passed.

Moderation should also be practiced. Recognize that the majority of situations in life do not necessitate a “all or nothing” attitude. You’re welcome to some, and that’s OK with me. Last but not least, keep a gratitude notebook. The basic problem with this sort of scarcity thinking is that it prevents you from appreciating what you currently have in your possessions. Make a list of all the wonderful things that have happened in your life.

From Scarcity to Abundance

Because of a scarcity mindset, people engage in self-defeating behavior. It sabotages your prospects of achieving financial success in the future. Even if a scarcity mentality such to that of the Great Depression allows you to collect large sums of money, you are unable to appreciate it. You’re apprehensive about it. Fear is always at the core of scarcity: fear of failure, dread of the future, and fear of losing out on something good or valuable. Those who have a scarcity mindset hold on to the belief that there is a finite supply of everything and that they will be denied their fair share.

  • For the time being, you should understand that in order to reach financial independence, you must cultivate an abundant attitude.
  • I’ve already recommended a number of strategies for dealing with certain types of shortage.
  • What exactly do I mean?
  • Investing time in others (rather than oneself) increases the amount of time you believe you have – in the now as well as in the future, according to the researchers.
  • We feel pressed for time, as if there is never enough time to do everything we want to do.
  • In order to cope with this, we have a tendency to withdraw.
  • We spend our time playing video games.
  • However, studies have shown that “wasting time” in this manner is in fact a waste of time.
  • When we offer our time to others — such as by assisting friends or volunteering in the community — we experience feelings of “time affluence,” according to research.

“Donating time to others not only enhances the giver’s subjective feeling of time, but it may also increase the recipient’s objective quantity of time, resulting in the fact that giving time contributes to the well-being of both the giver and the receiver.” That, my friends, is the manifestation of wealth in action.

Despite their natural desire to be less giving with their time, those who are feeling time limited should become more generous with their time.

When I first started giving away and selling my Stuff some years ago, I had no idea how much I actually had until I started doing so.

I was completely mistaken.

If you are experiencing a lack of respect from others, reciprocate that respect.

If you feel that others don’t love you, love other people more than you love yourself.

If you are concerned that you will never have enough wealth, give away a portion of your assets on a regular basis.

It leads to a division of status, of recognition, of revenues, and of decision-making authority.

It is the idea that there is plenty in the world that leads to an abundant mindset: plenty of money, plenty of love, and plenty of time.

Currently, there is a plentiful supply, and there will be an even greater supply tomorrow.

An Actual-Life Illustration of the Abundance Mindset While we were spending our winters in Savannah two years ago, Kim worked tirelessly to obtain her dental hygiene license for the state of Georgia in order to be able to earn a living.

Soon after, she began receiving phone calls from people who needed her to fill in for other hygienists who were sick or on vacation.

Kimcould have accepted the long-term position.

“What if I am unable to get any other positions?” she said as we discussed her employment alternatives.

I suppose I should just go ahead and take it in case nothing else comes along.” Kim made the decision not to accept the long-term offer after a few days of internal deliberation.

“I’m willing to wager that I’ll be able to keep myself occupied with only the short-term tasks, which will allow me to have more freedom.” Yes, it is correct.

She got more proposals than she could possibly accept in the time she had available.

As soon as we returned to Portland, she put her previous skills to work in order to get permanent dental hygiene employment.

She threw a broad net and then sat back and waited for the bids to trickle in. And they showed up. She was able to get two jobs that she enjoys because she was patient and had an abundant attitude. Furthermore, she is constantly receiving fill-in offers for her current position.

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