Ep 006: Abundance vs. Scarcity MindsetAug 19, 2020
In today's post, we’re going to talk about the abundance vs scarcity mindset and why it’s more important now to think with abundance than ever before. We will talk about how this mindset affects your life, specifically your finances, and spills into many other aspects of your life. But we won’t stop there, how do you stop this feeling of lack so you’re actions come from a place of abundance? Is there a way we can embrace the best of both abundance and scarcity?
Let’s get started!
In the midst of everything happening in the world right now, it’s made it a little difficult to think with abundance. Having a scarcity mindset has become “the new norm” and I’ve seen way too many posts begging for 2020 to come to a close because people are ready for a fresh start.
Freedom Makers, I’m here to tell ya that that’s just not the way we have to live!
We’re going to dive deeper into each of these mindsets and what they really mean, then uncover why we should think with one mindset over the other and what it will mean for your life once you do, then we’re going to work on creating gentle shifts to help you think with the abundant mindset.
What exactly is a scarcity mindset?
Put simply, it’s the belief that there will never be enough. We don’t do enough, we don’t have enough, or we aren’t enough.
It really comes from fear and comes across as thinking from a point of lack.
It could be that you don’t think there will be enough resources, food, money, opportunity, love… in these times, toilet paper… or it can be something else entirely.
No matter how much money or success we have, we can still feel disconnected from ourselves because this feeling of scarcity can steer our thoughts and actions.
If this mindset is related to money it’s going to make it very difficult to make more, because you aren’t willing to spend it in order to make more and you don’t believe enough money will ever come to you.
You don’t make enough, people won’t pay you, you don’t have enough value, and so on…
Think of it this way, If you’re so concerned about keeping what you have and not letting any of it go, you’re not making room for new opportunities.
This mindset can make you feel like you’re not worthy of success in your life, financially or otherwise.
And it’s not just a physical limitation, what happens to our minds when we feel we have too little? Scarcity directs and distracts our minds towards unfulfilled needs or wants.
Many times it leads us to unrightfully compare ourselves to others – so we try to be and act as we’re “supposed to” to play it safe. We conform to what’s around us instead of just being ourselves.
This mindset can show up when you’re scrolling on social media and see people’s travel photos or lifestyles and feel a pang of jealousy. When someone pulls up beside you in a nice car and you immediately judge their greed or when you think harshly of yourself when you make a mistake.
Have you ever wanted something really badly? Say you wanted to get a new car and you finally land on one in your budget that fits your needs. You drive it off the lot and within the next month you’re already looking to upgrade again. If you’re always expecting more, or better things, you’ll be chasing them forever. You’ll feel lousy in these moments of lack…
The common theme here is that you don’t feel like there’s enough, you don’t feel like you’re enough.
We really need to question our consumer market; advertisements and social media platforms have our attention constantly being pulled in different directions.
it’s no surprise we still feel lack, even when we have more than enough to survive.
Lynne Twist, the author of The Soul of Money, writes that we’re immersed in a culture that runs on 3 toxic myths of scarcity:
- There’s not enough
- More is better
- That’s just the way it is
If we focus too much on a scarcity mindset it creates a sort of tunnel vision. Where we do what we can to ease the immediate pain, even though it may hurt us in the long run.
This mindset has sucked the joy out of so many people’s lives and can leave you feeling stuck in a rut – not feeling like you can do anything else.
So, how can we break away from the scarcity mindset, especially if it’s been your way of thinking for most of your life?
When you change your mindset from scarcity to abundance, you become more tolerant of risk. For example, you may start to understand that you need to spend money to make money.
— and that when you focus on abundance, it will come your way.
- Use the language of prosperity. Instead of saying “I can’t afford it,” say “I have other priorities right now.” Shift your thinking, and focus on the abundance that you do have.
- Let go of “stuff.” Have you ever moved and wondered where all that stuff came from!? You didn’t realize you had so much until you started pulling it out and analyzing its usefulness in your life right now. The scarcity mindset can often manifest as hoarding and people often hold on to things long past their usefulness for fear they will have to go without. Let go. Donate unused or unwanted items to a worthy cause, and you’ll instantly feel wealthier
- Avoid comparisons. Scarcity thinking often causes overspending, usually because you want to keep up with the Joneses. This envy may guide your decisions… don’t compare yourself to others; they may be overspending as well.
- Acknowledge others’ success. The scarcity mindset leads to jealousy not only in the material sense but also in feelings of inadequacy or competition when others have success. Acknowledge the success of others and applaud their achievements. They may just inspire you to improve your own situation. Use them as mentors and watch what they're doing to achieve this success, there may be things you can start doing in your life as well.
And I want to talk about filling your cup, when I say this I mean feeling like you have everything you need or a way to get everything that you need. When you’re able to fill your cup there will be excess that flows over the rim. This excess is where you can start to give and help others.
Look around the room you’re in, at all the things you have or have accumulated throughout the years…
The truth is, we have more than enough and if we don’t personally, there is enough to go around.
It’s important to feel like you’re enough and you have enough.
Of course, there are tons of things we could be, do and have. But what if we started to shift that focus on what’s here and what we already have in the present? A shift in perspective lets us see that we are already living in abundance.
I truly believe that you can’t start to get more of something until you start appreciating what you already have and that other negative thought can curb your efforts.
Why not think of the things you’re grateful for that are in front of you today? Let yourself enjoy the sweet fulfillment that comes from knowing that you are enough.
However, what happens when there really isn’t enough? We’ve seen the earth take a major toll from the desire to have more and the belief that there is enough. Scarcity and abundant mindsets coming together at its finest… But, at what point does something like the earth's resources truly run out to where we are all left in not only a feeling of lack but a true lack of the things we need to survive.
Or when we start consuming so much that the great garbage patch triples in size and we start damaging the ecosystem?
There has to be a balance between this feeling of absolute lack and the thoughts of absolute abundance.
I believe that comes through moderation, having what you need and a little leftover, having enough to give, and not overindulging.
If we can find a balance between knowing that we are enough, we have enough and there will be enough, to understanding our limits and simply not needing “things” to be happy – we can get to a place of balance and start to feel a unique kind of fulfillment that doesn’t rely on what kind of purse your wearing, what type of car you drive or the number of extravagant vacations you take per year.
We can start to enjoy the little things in life and feel confident in the decisions we make because they are coming from our place of abundance and knowing that everything we need is available to us when we’re ready to gratefully accept it.
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