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What is an abundance mindset? In 1989, the best selling author, Stephen Covey coined the term abundance mentality or abundance mindset in his well known book “The Seven Habits of Highly Effective People.” He posited this mindset was “a concept in which a person believes there are enough resources and successes to share with others.” He compared it to scarcity mindset; which supposes there are finite resources. Scarcity mindset assumes if your friend/neighbor/colleague is successful and living a full and thriving life that she has used up allocated resources thus taking from you.
The idea of lack in money, love, sex and self worth is common. Most adults struggle with their relationship with money at least once (though usually much more often) in their lifetime. We learn how to dance with these topics in our early years by listening to how our caregivers discussed and defined them. It is said our beliefs about money start to solidify around the age of three based on the mentality of those we live with and around.
So, how do we change our beliefs around money, and instead, practice an abundance mindset?
How to Start Thinking with an Abundance Mindset:
Write down your style or styles and the beliefs that fortify them. Document every money belief you inherited to see them in black and white. Some of them are quite comical when read in full.
Question your money beliefs.
Often they are such a cemented part of our thinking that it feels like we are questioning a universal law. Write a healthier belief next to the old one. Instead of “I am a financial failure or “I am at the mercy of my circumstances,” think “I am working my way up to be a stellar money manager” or “how can I look at this creatively and from multiple angles to see all the possible solutions.” Edit out the old thoughts and replace them with positive affirmations.
Get into the feeling state of having more than enough.
What does it look and feel like to have what you desire? Fill it out in Technicolor. Money is just paper; it’s value is what you believe it can bring you. Go visit that feeling state often. Your brain will open up more windows when it’s in a calm state. It can show you options and out of the box ways to get what you crave, need and desire. Dr. Martha Beck says your real home address is peace. When you go to that “home” a plentiful life knows where to find you.
Create concrete money goals.
Put your money goals down in words or pictures. Are there specific skills you need to move closer to your desires? Break down your goals into very small, digestible steps. Is there a book, YouTube video or training that would get you closer to your goal? Start there. You gain momentum when you take small actions.
Be fair and generous with others.
Look for opportunities that feel good to you. Be gracious as you learn and grow. Like attracts like.
As far as we know for sure, we are only planted on this earth just once (though we leave room for the possibility of more). One seemingly small but easy way to add instant value to your day or life is to have a practice of gratitude. There are numerous studies demonstrating the connection between being grateful and abundance.
Which of these steps can you take today?
Abundant thinking puts you in the CEO position of your life. It allows you to execute choices, develop powerful new paradigms and seek possibilities about how to rewrite your life script. There are infinite ways to grow your life and challenge your mindset. Starting with just one of the tips above may spark a change in mindset and belief. Explore the boundless ways to live big, bold and badass while you are here.
Parts of this article originally appeared in our Winter 2020 print issue.