The Abundance Mindset-Why You And Your Money Need It

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.

Scarcity vs Abundance

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:

  • Everything is limited: Your time, your money, your life…all of it is limited and there’s not enough to go around.
  • Things could go wrong at any time: Because of your general expectation that things are limited you tend to make decisions based on fear. Fear of missing out and fear of not having enough are typical.
  • It’s all or nothing: Moderation is hard for people with a scarcity mindset because of the belief in everything being limited. The need for instant gratification is common.

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:

  • There’s plenty for everyone: There’s enough of everything to go around.
  • The future is bright: Things will work out in the end, even if there are some bumps along the road.
  • The big picture matters: Decisions should be made on the big picture rather just a moment in time.
  • There needs to be a balance: Both the short-term and the long-term need to be considered when making decisions.

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.

Finding Abundance

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:

  1. Change your point of view: Think of yourself in the driver’s seat instead of a victim. Realize that you are in control of you, not anyone else.
  2. Become aware of your thoughts and speech: Pay attention to the things that going through your head and make an effort to direct them towards thoughts of abundance instead of scarcity. Also, the language we use often shapes our reality. Focus on speaking to yourself (and others) in a way that tells a story of abundance, not scarcity.
  3. Practice gratitude: Be grateful for what you have. Pay attention to the simple things that happen to you every day and take note of them.
  4. Recognize the possibilities: Take some time each day to clear your mind and open it to all of the possibilities that are out there. When you “focus” on not focusing you’ll become aware of many new possibilities that you might not have ever considered.
  5. Be curious: Approach life with an attitude of “what can I learn”. Be open to new ideas. Try new things, challenge yourself on a daily basis to pick up new skills or knowledge.

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!

The Abundance Mindset In Action

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 becomes something that’s enjoyable and full of opportunity instead of something that’s “required” and limiting.
  • You get to re-imagine how you want your life to be and get to set the goals needed to help you get there.
  • Optimizing you cash-flow becomes something to look forward to instead of something to avoid. The abundance mindset gives you the vital forward looking frame of mind that is vital to the process.

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.

Help Is Available

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, Iā€™d be honored to speak with you. You can contact me by sending an email to mark@financialclaritypartners.com or visiting our website at www.financialclaritypartners.com and clicking the link for the ā€œContact Usā€ 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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