From scarcity to abundance: How to shift your mindset

Last updated on 6th February, 2024 at 09:05 am

You can unlock your true potential by changing your thoughts.

Reading time: 5 minutes

In this article, you’ll learn:

• What are scarcity and abundance mindsets
• How your brain can learn new ways of thinking no matter how old you are
• Practical tips for cultivating a mindset of abundance

“You’re not good enough, rich enough, smart enough, successful enough…” Sound familiar? The stories we tell ourselves have profound power over our lives, but getting trapped in a so-called scarcity mindset can have negative effects that spill over into every aspect of our lives, including personal growth and wellbeing.

A scarcity mindset is the belief that resources and opportunities are limited, leading to feelings of fear, competition, and the need to hoard or protect what you have. “We spend inordinate amounts of time calculating how much we have, want, and don’t have, and how much everyone else has, needs, and wants,” says Brené Brown, American researcher, author, and speaker known for her work on courage and resilience, in her book Daring Greatly. “To transform scarcity, we need to cultivate worthiness and a clear sense of purpose.”

In a world often defined by limitations and constraints, the idea of shifting your mindset from scarcity to abundance may seem like a lofty and idealistic goal. However, recent research in the field of neuroscience suggests that our brains are far more adaptable than we once believed, and can form new neural pathways throughout our life, and not just during childhood, as once believed. Knowing that our thought patterns and beliefs are not set in stone and that you have the power to change them – no matter your age – can help you see your world through the lens of abundance rather than scarcity. Here’s how to start:

Practical tips for cultivating an abundance mindset

1. Challenge scarcity beliefs: Pay attention to your inner dialogue. When you catch yourself thinking in terms of scarcity (“I don’t have enough time”; “There’s not enough money”), challenge those beliefs. Ask yourself if they are based on facts or assumptions.
2. Visualize abundance: Imagine a life of abundance by creating a mental image of your ideal future and focus on the positive emotions associated with it. This helps your brain rewire itself to believe in the possibility of abundance.
3. Surround yourself with abundance: “Surround yourself with positivity, supportive relationships, and environments that uplift and inspire,” Johannesburg-based motivational coach Stanley Ncube says. Seek out people, books, and experiences that reinforce an abundance mindset.
4. Embrace growth and learning: Adopt a growth mindset, which is the belief that your abilities and intelligence can be developed through effort and learning. “Embrace challenges as opportunities to learn, grow, and expand your capabilities,” Ncube shares.
5. Practice generosity: Acts of kindness and generosity can create a sense of abundance. When you give without expecting anything in return, you reinforce the belief that there is plenty to go around.
6. Practice gratitude daily: Start or end your day by acknowledging the things you’re grateful for. This simple act rewires your brain to notice and appreciate the abundance already present in your life. “Cultivate gratitude, focus on what’s going well, and appreciate even the smallest victories,” advises Ncube.
7. Set clear goals: Define your goals and aspirations clearly. Having a sense of purpose and direction can shift your focus from scarcity (what you lack) to abundance (what you’re working towards).