Do you really have an abundance mindset?
One might think that finance is logical and sensical but let me tell you it’s not… finance is EMOTIONAL and psychological! This “abundance mindset” buzzword has been all over the internet. What does it really mean and why should you care?
“The mind is everything, what you think, you become.” – said every shrink ever
This is SO true though. Your mind is the internal blueprint that guides your decisions, your direction , your being and ultimately your destination. So let’s talk about the terms scarcity mindset vs. abundance mindset (coined by Stephen Covey in his best-selling book, The 7 Habits of Highly Effective People). Scarcity mentality refers to the mindset where people see life as one finite pie. Thus, if one person takes a big piece, there would be less available for everyone else. Most people have been conditioned to have a scarcity mentality. An abundance mindset, however, refers to the paradigm that there is plenty out there for everybody. Thus, a person with an abundance mindset would be optimistic about what their potential is, what they could achieve and that “there is enough” rather than a constant belief of competition and lack.
Okay so how can we make the shift from a scarcity to an abundance mindset?
First thing’s first. You become like those you surround yourself with. Find and spend time with glass-half-full people. Attitudes can really rub off easily – so make sure to take this into account. As Tony Robbins says, “The quality of a person’s life is most often a direct reflection of the expectations of their peer group.”
The I HAVE rule:
The “I have” rule is one that teaches you to focus on what you have, rather than what you don’t have. Your scarcity mentality would tell you: “There aren’t enough good jobs out there,” “I don’t have enough transferrable skills,” or “Who am I kidding, there’s too much competition.” These thoughts are LIMITING! Try to acknowledge these thoughts and transform them into thoughts of growth and opportunity.
WIN-WIN situation creation:
A scarcity mindset believes that if one person wins, another loses. To combat this, try to see and make use of opportunities where a win-win is created for all parties involved. Brainstorm solutions that benefit both parties in your personal and professional career.
GET YOURSELF SOME GRATITUDE:
“If you look at what you have in life, you’ll always have more. If you look at what you don’t have in life, you’ll never have enough.” – Opera Winfrey. It’s time to spend 5 minutes a day being THANKFUL for what you have, where you are and how far you’ve come.
TRAIN THAT BRAIN:
An abundance mindset allows you to see more in your life: more options, more choices, and more resources. Don’t focus all your energy into a certain negative thought or belief about yourself. Train your mind to loosen its focus and create an expanded awareness of the world around you.
A successful financial journey starts with the type of mindset you have. Google the term abundance mindset more, make it a part of your life and then you’re ready to take a hold of your FINANCES.