But what really are the Scarcity and Abundance Mindsets?

Stephen Covey introduced the terms "abundance mindset" and "scarcity mindset" in his famous book, "The 7 Habits of Highly Effective People." When you have an abundance mindset, you believe there are plenty of resources for everyone. In contrast, a scarcity mindset makes you feel that resources are limited, and if someone else has something, it means less for you.

While these terms are common in pop culture, they are also rooted in psychology. Researchers define a scarcity mindset as when your thoughts about scarcity influence your focus and behavior—this happens whether the lack of resources is real or just perceived.

It seems to be more important that we have a perception of scarcity than to objectively have low resources. That is one theme in psychology, our perceptions of things matter more than what is true.

Here are 5 Mental Fitness Tools to help you develop an abundant mindset:

Challenge your thoughts to disrupt autopilot.

Suppose you learn that a coworker is getting promoted to a position you were eyeing. Your initial thought might be jealousy or suspicion that they're just the boss's favorite. By catching and reflecting on this thought, you could instead see their promotion as a chance to understand what skills you can develop further, or underhand notice if this place isn’t for you in the long term. 

If you see someone living “the” goals you have for yourself 

You can land up feeling you are so behind - but at this point you can practice knowing there’s enough and more to go around. If they can find it so can you. And reconsider why to compare your chapter 1 to their chapter 5??? 

Also, you can fine-tune who you follow to ensure your energy isn’t drained and instead uplifted. 

Practice Gratitude

According to Oprah Winfrey, “If you look at what you have in life, you’ll always have more. If you look at what you don’t have in life, you’ll never have enough.

This simple act of recognizing and appreciating the positives in your life rewires your brain to see the world through a lens of abundance. Instead of fixating on limitations, you become more aware of the resources, opportunities, and blessings around you. Over time, this shift helps reduce feelings of fear and competition, promoting a sense of contentment and possibility.

Surround yourself with people who have an abundance mindset

You know those positive people who always see the glass half-full? Start spending more time with them. Attitudes are contagious, and if you're around scarcity-minded individuals, it can hold you back. As Tony Robbins says, “The quality of your life reflects the expectations of your peer group.” Ask yourself if the people you spend time with inspire you. If not, it might be time to seek out those living the life you aspire to.

Advocate and Offer Support

A big part of embracing an abundance mindset is recognizing when you have resources to share and using them to help others. The idea is simple: lifting others up benefits everyone. Whether it's through small gestures or bigger efforts, supporting one another helps create the opportunities and resources people are looking for. Let’s practice collaboration over competition mindset. 

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