Going from scarcity to abundance mindset can feel overwhelming and confusing in the beginning because you are shedding the layers of past beliefs that have been limiting you from tapping into a fulfilled life.
Understanding the difference between having a scarcity mindset and an abundance mindset is a thin line between limiting self-beliefs and encouraging self-belief. Your self-belief lays the foundation for taking you towards developing a growth mindset.
More than being a mindset, scarcity is a reality for people because that is all they believe in. Their belief of “I am born this way and I will die this way” can either limit them or help them thrive.
This sentence can be viewed from two different perspectives that define your mindset:
- Scarcity mindset: I am in scarcity and I’ll die in scarcity. There’s nothing I can do. I don’t have the right resources. I lack guidance, etc.
- Abundance mindset: I might not be born a wealthy person but I’ll not die this way. I’ll work hard and I’ll do what it takes to build my life and change my destiny.
When you have a growth mindset, you understand and believe that growing in life is not equal to winning over others. An abundance mindset means winning in life and becoming better for yourself without comparing your progress to others.
11 Simple truths for you to move from scarcity to abundance mindset
Moving from scarcity to abundance mindset can be difficult for some people because of the conditioning they have had in their childhood. The limiting beliefs that you have heard around you while growing up play a very crucial role in holding you back from transforming into a person with an abundance mindset.
What is a scarcity mindset?
In simple words, a scarcity mindset means having these constant thoughts that don’t make you feel enough. Whether it’s about what you do or who you are, you are always surrounded by negative feelings that question your self-esteem. Cultivating a scarcity mindset and getting rid of it is the easiest way to keep yourself stuck in life.
But, despite all this, the truth is it is not easy for everyone to avoid this scarcity mindset and transform themselves overnight. Thus, it is important to accept that living in scarcity and poverty is a real-life crisis for many and you cannot blame them for it. Nobody chooses to birth in scarcity. There are a lot of people who struggle to pay their bills on time, who fail to afford the necessities of life, despite working hard in life for every single penny they earn.
Can you blame them for not having an abundance mindset when all they have ever seen around them is poverty, hopelessness, and scarcity?
Growing up in a scarcity environment is a big hindrance in keeping you from developing a growth mindset. Living in poverty is also linked to having behavioral and mental health issues because of how it affects the brain.
Adopting an abundance mindset is not about having a figured-out life overnight. It won’t magically give you the solutions to all your problems. But, it will change the way you see your problems. An abundance mindset helps you to become more efficient. It improves your critical thinking skills and makes you a problem solver instead of hanging onto them and waiting for things to be better.
Difference between a scarcity mindset and an abundance mindset
Steven Covey has beautifully explained the difference between scarcity mindset and abundance mindset in his book The 7 Habits of Highly Effective People. To put it simply, people with a scarcity mindset surrender to their limitations. They live a belief that there is a definite amount of money and fortune for everyone. He uses the analogy that people with a scarcity mindset compare life with a limited pie. They think that there’s only a small portion for everyone.
People believing in limited pie also limit their options and restrict themselves from the success they can achieve. The scarcity mindset promotes pessimistic thinking. These people lead their life with a victim mentality and always focus on the negative in life. You’ll always find them complaining and frustrated about something or other.
A scarcity mindset stops you from taking risks in life. It makes you think small and acts as a taker all the time. You attach your self-worth to the good feeling you have by comparing yourself with people who are less than you.
An abundance mindset, on the contrary, promotes a win-win mentality. When you have a growth and abundance mindset, you align your actions with your goals. You don’t compare and compete because you know there’s enough for everyone and you can get your share of pie without feeding on others’ share.
People with an abundance mindset promote optimistic thinking. They look for the good and consider the opportunity in a situation instead of complaining. With an abundance mindset, you take responsibility for your actions and think big. You believe in taking calculated risks. It doesn’t feel right to attach your sense of self-worth to what others are doing. You don’t live in the fear of missing out.
Why do you need an abundance mindset to be successful in life?
An abundance mindset can set you up on a journey of self-improvement and personal development. It opens the closed doors and helps you to realize that the only obstacle between you and your dream life is your thoughts and beliefs.
Cultivating an abundance mindset doesn’t happen overnight. It requires you to make small changes in your thought process and embrace the opposites of the usual scarcity mindset. In the long run, an abundance mindset will improve your performance both on professional and personal fronts. It will increase the malleability of the brain to blend in situations and circumstances that improve the quality of your life. With an increase in taking risks, you become more open to meeting new people and learning from them.
Living and believing in abundance strengthens the long-term vision and allows you to see the endless potential in yourself. It expands the horizons of your limits and opens your life to endless opportunities.
People with an abundance mindset become more intentional with what they say and do because they realize how all this contributes to their everyday thoughts and ideas. An abundance mindset is closely intricated with developing a growth mindset. It increases your willingness to learn.
It sets you up for success because you only spend your energy on people and situations that feed your passion and purpose in the long run. There’s no place for small talk. You prefer cultivating meaningful relationships and building a network that contributes to your overall growth and development.
Now that the basics are clear, let’s move towards understanding the simple truths that will move you from a scarcity to an abundance mindset:
13 Simple truths for you to move from a scarcity to abundance mindset:
1. Accept your reality, don’t run from it
The first step in moving from a scarcity to abundance mindset is to accept your present life and own your past. The willingness to change and become better is the first sign of growth. This means you are no longer at the mercy of craving for a miracle. You have decided to take matters into your hand and improve your life at your pace. An abundance mindset makes you ready to face the challenges in life, with or without any support.
2. Start with small changes to move from scarcity to abundance
Cultivating an abundance mindset doesn’t mean you will change your life overnight. Thinking of overnight success or wanting to change all your habits at once is just setting yourself up for disappointment. Such unrealistic expectations only bring demotivation. The right way is to make small changes in the areas of your life that have been contributing to the scarce mindset. Like I always say, one thing at a time, one step at a time, and one day at a time.
3. Cultivate self-compassion not comparison
Each of you has a past that has brought you here today. Whatever it is you have done so far, show yourself some kindness and compassion for making it till here. You should be proud of yourself. And now that you have decided to change, spare yourself from any comparison with people who are doing good in their life and continue focusing on yourself. Comparison will only hold you back and we don’t want that for you.
4. Find your abundance
Abundance is not only equal to financial freedom and stability. When you go from scarcity to abundance mindset you seek it in all areas of your life. But, all of this might take your attention away from that one thing that is already present in abundance for you. If it’s not money, it could be other things like free time or love from your people. Find what’s in abundance for you already and treasure it as you create more of it in other areas of your life.
5. Focus on possibilities and not limitations
The easiest trait of a scarce mindset is emphasizing limitations and neglecting the possibilities in difficult situations. But, when you move from a scarcity to abundance mindset, you don’t allow those limitations to get in the way of your journey. Instead of surrendering and settling for less, your abundance mindset leads to a long-term vision. You feed your passion with knowledge and guidance from the right people to see beyond those hurdles.
6. Learn without proving anything to anybody
A scarcity mindset wants to seek validation from others. Proving yourself to others becomes a priority for you. While an abundance mindset makes you self-sufficient. You understand the power of making mistakes and learning from them. You focus more on exploring new skills and developing yourself instead of faking perfection in front of others. An abundance mindset makes you immune to failures. You are no more afraid to fall because you now understand that falling today will only help you to rise higher tomorrow.
7. Take people together as you succeed
The most important skills you will hone when transforming from scarcity to abundance are your leadership skills. Resentment and jealousy takes a back seat and getting inspired by other come to you naturally. You begin to understand that anybody else achieving what you desire simply means that with the right strategies and mindset you can have it too. You now know that there is enough in the world for everyone to succeed, there’s no competition only cooperation.
8. Become a creator, not a victim
People with an abundance mindset say goodbye to the victim mentality. They own up to their thoughts and actions. While a scarcity mindset lets you blame other people or situations for your sufferings, the abundance mindset makes you conscious of not falling into victimhood and taking responsibility for your actions and experiences. You seek solutions to take control of your life as an independent creator. The fear of the unknown cannot stop you anymore.
9. Be proactive to move from scarcity to abundance
While a scarcity mindset makes you reactive, the abundance mindset makes you proactive. The proactive approach and reactive approach can be applied to any context of life. When you are proactive you are focused on preparing for the situation but with a reactive approach, you are focused on repairing the damage after the mishappening. Living a proactive life means you are aware of your goals and you align your behavior and actions with them.
10. Practice journaling to free your mind
A person with a scarce mindset surrender to the negative thoughts in their head. But, with an abundance mindset, you understand that thoughts can get chaotic. Moving from scarcity to abundance mindset introduces you to the power of writing down your thoughts to recognize and differentiate between the mindset they are coming from. Journaling helps you by eliminating the self-sabotaging thoughts and making space for more empowerment and self-belief.
11. Create a conducive surrounding
Your mindset is a reflection of the people you surround yourself with. Your life is the total of the people in your surroundings. Hence, to transform your mindset from scarce to abundance you must create an environment that is conducive to abundance. Consume content from people that inspire you to break through the adversities and achieve your goals in life. If you don’t look up to the people you are around, it’s time to rethink and take necessary actions.
12. Speak daily affirmations for abundance
Chanting affirmations is not a “done once” activity. Affirmations impact the brain to think, act and believe them. The most important part is to recognize the thoughts that induce fear and indicate a scarcity mindset. Once you know your fears, make a list of your desires in contrast to those fear. Now use your desires as your daily affirmations to rewire your subconscious mind to accept these desires as your present reality to make them yours in the future.
13. Imbibe gratitude and practice it
I know “gratitude” has become a buzzword these days. But, practicing gratitude and showing appreciation creates both abundance and happiness for you. Gratitude allows you to see what you have without comparing it with anybody else. It amplifies abundance in your life. And, it’s one of the most powerful tools to attract your desires. It’s easy to be ignorant and ungrateful but gratitude demands acceptance and mindfulness which doesn’t come easily.
The bottom line is that with a scarcity mindset you look for short-term gains but with an abundant mindset you focus on long-term gains. Hence, you don’t mind sacrificing your comfort and luxuries for some time to enjoy a desirable life.
Moving from a scarce to an abundance mindset may or may not come naturally to you in the beginning. But you can begin to cultivate it will all the points mentioned above. These will not only contribute to building an abundance and growth mindset but practicing them in your daily life will also set you up for a meaningful and fulfilled life.
It all comes down to your conscious and consistent efforts.
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