Are you a glass-half-full or glass-half-empty kind of person?
When you think about the future, do you see limitless opportunities or multiple barriers? Do you get excited about international travel and interaction with other cultures, or do you think it’s a shame “all our U.S. jobs are going overseas”?
Be honest. Depending on your response, you either have an abundance or scarcity mindset. If you answered affirmatively to the first half of each question (i.e., glass-half-full, limitless opportunities, and excitement), you likely have an abundance mindset. Congratulations! An abundance mindset accelerates personal growth in unimaginable ways. BUT not everyone is like you.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
If you answered affirmatively to the second half of each question (i.e., glass-half-empty, multiple barriers, shameful globalization), you are probably operating under the scarcity mindset. You may be concerned that there is never enough and may feel like a victim. This article is intended for you! We’ll answer three critical questions:
- What is an abundance mindset?
- Why is it important?
- Can you change your mindset?
What is an abundance mindset?
Steven Covey’s 1989 bestseller, The Seven Habits of Highly Effective People, coined the term “abundance mentality.” An abundance mindset helps you:
- Create meaningful life experiences.
- Pursue new, interesting opportunities.
- Live a full and satisfying life.
- Find happiness even amid struggle.
- Feel inspired and creative.
People with an abundance mindset see the potential to move beyond present circumstances and have hope in a brighter future. They feel empowered, rather than frustrated and overwhelmed.
Why is an abundance mindset important?
True transformation requires an abundance mindset. As faith believers, we are called to transformation, not tweaking. One of my favorite writers is Matthew Kelly of Dynamic Catholic. Each book Matthew publishes is short but impactful. He takes a 2,700 year-old-text (the Bible) and simplifies it into powerful, digestible messages.
Matthew Kelly was the first person to help me make a connection between the abundance mindset and a spiritual focus on becoming the best version of myself. When you try to become a better version of yourself daily, you can’t help but be excited about what tomorrow holds. You think about today’s mistakes but don’t dwell on them. You treat stumbling blocks as learning experiences and move on.
An abundance mindset aids you personally and also accelerates growth on many other levels. Men become better fathers, husbands and sons. Women become better mothers, wives and daughters. Your family may notice a positive difference in you, and it might just shape their perspective on life. In the workplace, you’ll be focused and driven but will also keep your priorities aligned.
Once your family and workplace have benefitted from the “new” you, you’ll probably think about how you can use your gifts to help others in your community (or the broader world). An abundance mindset is freeing, and it’s where transformation begins.
Can mindset be changed?
The short answer is YES! The Chopra Center offers several suggestions to move into an abundance mentality, including:
- Become aware of your thoughts through mindfulness. Notice the types of thoughts circulating through your head, and make a conscious effort to shift toward abundance.
- Practice gratitude. Keep a gratitude journal, recording at least 10 items daily.
- Recognize the unlimited possibilities. Focus can be incredibly powerful but also unhelpful if your focus is too narrow and you fail to notice other possibilities.
- Cultivate and share your passions and purpose. Serve others by sharing your unique gifts and providing value.
- Think about what is going right. Human brains are wired to notice the bad more easily than the good. Take a holistic approach and play to your strengths.
We have the highest living standards of any generation in history. Our World in Data shows how global living conditions are changing. Poverty, illiteracy and childhood mortality rates have dropped significantly since 1950. Political freedoms stemming from democracy and postsecondary education rates have soared.
Yet 90% of people think the world isn’t getting better, according to Our World in Data. The news often focuses on bad events, such as terrorist attacks, natural disasters and mass shootings. It’s quite rare to see any news channel spend more than five minutes of a 30-minute show on “feel good” segments. We don’t get to see our everyday heroes on TV or in the newspapers; police officers, firefighters, teachers and missionaries make the headlines for conflict and controversy, not when things are business as usual.
Despite the good work happening in our neighborhoods and communities worldwide, 1 in 10 people today still live in extreme poverty. To solve big problems like poverty, we need to stop living in isolation and collaborate. Get behind a cause and garner support from others who are interested in advancing the same social change.
When you operate from a place of abundance, it means you are open to new opportunities. Any prior mistakes can be acknowledged and treated as a learning experience. Remember that your past isn’t a script for your future.
-
4 Career Moves to Make Now if You're Worried About a RecessionWorried about a recession? These steps to protect your job prospects will help you professionally whether a downturn develops or not.
-
How StoryCorps Works and How You Can Tell Your StoryStoryCorps has recorded conversations between thousands of people, and anyone can participate. National facilitator Alan Jinich explains how to share your story.
-
I'm a Retirement Psychologist: Here's Why Doing What You 'Ought' in Retirement Beats Doing Whatever You WantTrue retirement freedom isn't about simply doing whatever you want, but about finding purpose and direction through commitments that align with your deepest values and allow you to contribute meaningfully.
-
Tactical Roth Conversions: Why 2025-2028 Is a Critical Window for RetireesThe One Big Beautiful Bill (OBBB) extended today's low tax brackets, but they may not last. Here's how smart planning now can prevent costly tax surprises later.
-
Ready to Retire? It's Not Too Late to Convert to a Roth IRAMillions of Americans are turning 65 this year. If you're retiring soon, don't dismiss the idea of a Roth conversion — it could still be a smart move even now.
-
I'm a Financial Adviser: Three Things You Will Wish You Did Before the Fed Cuts Interest RatesWith potential interest rate cuts on the horizon, you might want to lock in today's higher yields and consider adjusting your asset allocation.
-
Simple Ways to Save on Back-to-School Shopping This YearSet a budget and stick to it, scour the house for what you already have, decorate backpacks and lunch boxes with your kids and consider buying some items during holiday sales.
-
The Seven-Day Financial Reset: A Simple Plan to Get Control of Your Money, From an ExpertSometimes, getting unstuck requires a reset. These practical steps can help you tackle your money issues and feel less overwhelmed by it all.
-
Three Pros (and Four Cons) of Hiring Multiple Financial Advisers: The View From a Financial AdviserThere's nothing to stop you from working with several financial advisers instead of just one. But take a balanced view of the risks and rewards first.
-
I'm an Annuities Expert: Here Are Two Ways to Use Annuities to Benefit From the OBBBTo qualify for a new tax break included in the One Big Beautiful Bill Act, some older adults need to lower their taxable income. Annuities can make that happen.
