It can be easy, especially when focusing on money, financial planning and retirement, to have scarcity mindset. Instead of scarcity, try abundance. Adopting an abundance mindset will help us live our best life while making the most of our money.
Two major mindsets that people seem to adopt when it comes to money (and life in general), are Scarcity and Abundance. Let’s explore each one a little bit more:
Scarcity: The word Scarcity (courtesy of Dictionary.com) is defined as:
1. insufficiency or shortness of supply 2. dearth.rarity; infrequency.
So, basically, with a Scarcity mindset your default beliefs are most likely:
Abundance: On the other end of the spectrum from scarcity is abundance, defined as:
1. an extremely plentiful or over-sufficient quantity or supply 2. overflowing fullness. 3. affluence; wealth.
Abundance sounds much more enjoyable, doesn’t it? With an abundance mindset you tend to believe that:
When we compare the two, scarcity and abundance, it’s pretty obvious that an abundance mindset is much more preferable. Having an abundance mindset allows you to be thankful for what you have, be open to new opportunities, approach life with curiosity and confidently plan for the future while enjoying the present.
How can you adopt an abundance mindset and apply it in your own life? While there is whole “abundance industry” out there ready and waiting to help you become more abundant in your thinking, I’ve found a few simple things that anyone can do to foster abundance in their life:
These are just a few suggestions that I have found to be helpful in my own life. If you want some more help, there are books, websites and guru’s galore all willing to help you become more abundant in your thinking. Building an abundance mindset takes time and effort but the benefits are well worth it!
Now that we’ve seen the advantages of adopting an abundance mindset, let’s apply it towards our life and our money. The abundance mindset fits perfectly within what I call a “true financial planning framework”. Building a plan for the future is easier when you approach the process from a position of strength (abundance) instead of a position of weakness (scarcity). When you adopt abundance, money becomes a tool for good that is to be used and shared instead of hoarded and feared.
When you build your financial plan from an abundance mindset, the odds are much better that your plan will meet your needs in both the short and long term. Here’s just a few of the benefits:
Financial planning with an abundance mindset means that you are open to all the possibilities that money can provide you and your family. You’ll view the financial planning process as one of opportunity and growth instead of self-imposed limits and fear of the future. Life and financial goal setting becomes easier to do and more relevant. The end result will be a financial plan that truly reflects you, your goals and your life.
Setting goals and building and acting on a financial life plan takes work. While many people have the time, motivation and energy to do it all on their own, many do not.
If you would like some help building your own financial plan or would like a second opinion on anything related to your financial life, I’d be honored to speak with you. You can contact me by sending an email to firstname.lastname@example.org or visiting our website at www.financialclaritypartners.com and clicking the link for the “Contact Us” page. Or, if you want to speak with me directly, go ahead and give me a call at 678-626-7526 and we can discuss your needs and determine if my services might be a match.
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