DANA'S MINDFUL MINUTE: SCARCITY VS. ABUNDANCE MINDSET
posted: Jul. 28, 2022.
Inspiration This Week: Inflation
Gas prices sky rocketed over these last few months. The grocery budget has now almost doubled. Lease renewals are a scary time because that expected increase could be as much as $300-400! We're getting letters from daycare, insurance, subscriptions, etc about their need to keep up with the economy so their prices are also being raised. And don't even get me started on the housing market right now...
And on top of rising costs, we are seeing so many shortages. Flights are a fun game of "will my flight be canceled today?" It's a scavenger hunt for baby formula. Delivery of goods are full of delays. And the job market is facing hardship with their ability to raise wages while experiencing labor shortages.
These are tough times and believe me, we are all feeling it. Everywhere I turn, there is another reason to be pulled to the dark side of scarcity. But I refuse. Because I know staying in a scarcity mindset keeps me stuck and in a constant state of fear. Meanwhile the abundance mindset allows me to continue to thrive in a seemingly depressing market. So here's some ways you can adopt this mindset and thrive as well!
Theme of The Week: Abundance vs. Scarcity Mindset
Let's first dissect these two mindsets so you can get a clear picture of what I'm talking about. A scarcity mindset is a focus on what is lacking, which resources are running out, and competing for gaining your share of that finite amount. A scarcity mindset leads people to be competitive and guarded. On the other hand, abundance mindset is believing that there are enough resources to go around, that things are infinite in availability, and therefore being more willing to collaborate and share with others. It is having optimism in the face of adversity and essentially taking that Field of Dreams mantra, "if you build it, they will come." Here are a few side by side comparisons of the two mindsets so you know the difference:
Scarcity Mindset Abundance Mindset
-Sees troubles and problems -Looks for opportunities
-Focuses on what is out of their control -Utilizes what is available and within own control
-Stays in comfort zone, resists change -Takes calculated risks towards goals
-Negative attitude focused on what is -Positive attitude focused on
lacking unlimited possibility
-Fears personal failure -Sees failure as a learning opportunity
-Reluctance to share and collaborate -Open to sharing and collaborating with others
-Assuming one has all the answers -Willing to learn from others
-Focuses only on own accomplishments -Promotes and cheers on others
So you can see how the above description of today's economy is riddled with a scarcity mindset, right? So let's look at some ways we can turn that around to be more representative of an abundance mindset. Here are some ways you can adopt an abundance mindset:
- Catch and Shift Scarcity Thinking- So when one is the only single person in a group of married couples, they might think, "I'll never find that person" and be focused on their jealousy of their friend group. Shift that thinking to "I'm really happy that my friends found love and I know that opportunity is out there for me."
- Write it Down- Our headspace can be a pretty nebulous and foggy space. Writing down and journaling what we are thinking can help us clarify when we are getting caught up in scarcity and self-sabotaging.
- Mindfulness- I hope you guys are starting to recognize that mindfulness is literally the answer to everything haha. When we practice mindfulness, it strengthens our ability to remain focused and aware of the present and can decrease our ability to get distracted by ineffective thinking.
- Create Your Own Mantra- Find your favorite quote, make up your own, or even find a value/word to settle on. An inside joke with friends has me singing "it's all gonna work out in the end" whenever I find that I am feeling pessimistic.
- Identify Your Road Blocks- What is holding you back, is it poor self-esteem, a non-supportive friend group, financial fears, etc? Identify what is holding you back and make a point to hone in on this and improve this perspective with your therapist.
- Be Your Own Cheerleader- Pat yourself on the back for any win along the way, no matter how big or small. That encouragement will keep you motivated to stay on track with your goals.
- Simplify- Don't take on everything at once. As Americans, we are the kings and queens of multitasking. This is a time to focus on one thing at a time so we can be effective in each venture.
Challenge This Week: Adopt the Abundance Mindset
So now that I've given you an explanation of the two mindsets and some tips on how to shift from a scarcity mindset to an abundance mindset, go out and do just that! Work your way through the 7 tips above to catch and shift your mindset. Don't get swept up in being a victim of these hard times. I promise there is a way out if you put your mind to it!
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