Developing an Abundance Mindset

For many, many years I had a scarcity mindset. A scarcity mindset is the belief that there will never be enough, resulting in feelings of fear, stress, and anxiety. Boy, I experienced plenty of that. Back in 2018, these feelings were so intense I thought that I had little to no options for my life and that doom was imminent.

Malaysia saved me. But, I digress slightly here. A scarcity mindset has a domino or a cascading effect. It produces a kind of tunnel vision, and it explains why, when we’re in a hole, we often lose sight of long-term priorities and dig ourselves even deeper.

That’s exactly what happened to me. I wasn’t seeing the forest behind the tree. All I could see was that one, single tree.

So, how did I get out of scarcity and more into abundance?

There is no magic formula…

Sorry to disappoint you. And thinking “positive ” isn’t necessarily cutting it either. It’s a piece of advice that you find on the net, over and over.

Start by focusing on what you have

By “what you have”, I don’t only mean your material possessions. But also your accomplishments, strengths, qualities, abilities, experience, education, etc…etc..

Take a few minutes to think and reflect on the above. Felt good, didn’t it?

Be grateful

I’ve written a few times on how gratitude helped me through bad situations, and how privileged I am.

I know you want more and better for your life. So do I. Starting with these 2 points will pave the way for just that. It will also improve both your mental and physical health.

Train your mind to have a different perspective

When you practice the 2 above points, your perspective will start shifting, without further massive efforts on your part.

You’ll start seeing the glass half-full, instead of half-empty. You’ll also start coming up with solutions to problems and obstacles. You’ll confront your fears and realize they’re irrational for the most part. Your anxiety levels will decrease.

What I find helpful is to write down what I want to do, how I am going to do it and all the other options I have if I can’t achieve it right away. I find it powerful when it’s written down. It also helps with fears and anxiety, as I can read it again, and modify it accordingly.

Surround yourself with the right people

Who we spend time with has a huge impact on our self-perception and on our lives in general. Take an honest look at your relationships, whether it’s family, friends or co-workers.

Is there a bum or 2 in your entourage that you need to cut loose? Is your workplace’s culture toxic? If yes, it’s time to see what else is out there. Quitting one’s job can actually a good exercise in cultivating an abundance mindset.

How it all relates to personal finances

That’s why we’re all here on this blog, right?

With a more abundance-oriented mindset, I no longer believe money, debt, credit and the stock-exchange are the root of all evil. I see them as tools to create the life I want. I stopped comparing my finances -and myself- to other people’s. I stopped being envious or jealous of other people’s wealth.

I tell my money where to go, instead of wondering where it went. I definitely saw my net worth nicely increase over the years. I took more calculated risks and better opportunities came my way.

Final word

Let me be clear that developing an abundance mindset is neither quick nor easy. It will take some time.

Don’t get discouraged. Practice, practice, practice! It’s worth it.