Do I have an abundance mentality or a scarcity mentality?

Do you ever feel like you never have enough money saved? There just aren't enough jobs to apply for? Or that maybe there isn't enough time in the day to get everything done?

Or maybe you feel like you can buy anything, start a business, and make a long list of "to-dos" for the day.

Your mindset matters. Whether you have a scarcity mentality or an abundance mentality can make a world of difference. It can have a huge effect on how you perceive everything.

Abundance Mentality

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This is a belief that there is enough for everyone: wealth, happiness, success. You might view life as "limitless", full of possibility, and with "optimism and generosity."

Scarcity Mentality

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This is a belief that there is never enough:time, money, opportunity. You might view life with fear and competition, focusing more on what you lack over what you have.

They're opposites, and people usually lean towards one as their dominant mindset. But with different circumstances, you shift to the other side.

So, it won't always be one way or the other. One day, you feel like adding 25 things to your to-do list, and then the next day, 2 tasks might seem impossible.

Do you have an abundance mentality or a scarcity mentality? Below are some traits of each mentality. Think about how YOU think to find out where your thoughts come from.

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Abundance Mentality

Do you...?

• See others' success as inspiring

• Focus on what you have

• Feel optimistic and motivated

• Share and help others

• Prioritize well-being and balance

• Celebrate others' wins

Scarcity Mentality

Do you...?

• Feel like there isn't enough time, money or opportunity

• Focus on what you don't have

• Feel threatened by others' success

• Become anxious about the future

• Not share with others so you have more

If you can identify these thoughts as simply a mindset, and not necessarily how things are, then you can begin to move away from a discouraging mindset and towards a positive and encouraging one!

Quiz: Read the scenario, then answer the question that follows.

You worked on a collaborative project. Your colleague seems to be getting most of the recognition for the success in your team meeting. You think to yourself:

A. "I'm frustrated that they're getting all the credit and attention."

B. "If the project is successful, that's all that matters because we all win."

C. "I need to work harder next time so I get more recognition and credit."

D. "I should speak up and tell them my role so I get more credit."

A scarcity mentality can have some negative effects like feeling down, unmotivated, and pessimistic. To understand how to change this mindset, you can find out where it might have come from.

• Childhood and upbringing: If your parents or caregivers modelled this mindset, then it could have been passed on to you.

• Trauma from the past: If you lacked something in your past (money, food, etc.), this mentality could develop "even when you have plenty."

• Society: The people around you can influence your mentality. If people around you are finding great jobs and you aren't, then you can find yourself focusing on what you don't have.

• Financial issues: You may have experienced some financial stress or a lack of resources in your past that can cause a scarcity mindset in your present life.

Knowing where your thoughts and feelings come from can help overcome this mentality if you want to move towards an abundance mentality.

An abundance mentality can lead you to a positive outlook and motivate you to try new things, take risks, and feel confident.

If you've discovered you've adopted a scarcity mentality, there are things you can do to move towards an abundance mentality.

• Change: Think about new situations as ways to grow and learn. This will move you into change with less fear.

• Gratitude: Think about what you have, not what you don't have. Start with small things: a sunny day, a happy pet, etc. Then think about bigger things: good health, a comfortable home, etc.

• Challenge your beliefs: When you're thinking negatively, question your thoughts and replace them with positive beliefs. Observe why you think that way.

• Generosity: Being generous with others will help you see your own abundance.

• Set goals: Believe in your ability by setting achievable goals.