4 Ways to Shed Scarcity Mindset (2024)

You’ve heard of the term “mind over matter,” but can your mindset really change how you feel or help you overcome problems?

If you’re skeptical that simply believing you have enough time, money and resources will shift your circ*mstances, that’s fair. Changing your perspective won’t change the current realities of your life, but what it can do is change your behavior — and that may ultimately improve your life.

What are abundance and scarcity mindsets?

The terms abundance and scarcity mindset are often attributed to Stephen Covey, who used them in his widely successful book, “The 7 Habits of Highly Effective People.”

An abundance mindset is when you believe there are plenty of resources for everyone. A scarcity mindset is when you believe there are limited resources, so if someone else has something, you feel there is less of that resource available for you, says Tabitha Kirkland, a psychologist and associate teaching professor at the University of Washington’s Department of Psychology.

She notes that while the terms are circulated in pop culture, the concepts also have roots in psychology.

Researchers define a scarcity mindset as when your thoughts about scarcity affect your attention and how you behave — and this occurs regardless of whether someone actually lacks resources or simply believes they lack resources.

“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,” Kirkland says.

How does a scarcity mindset affect your behavior?

Your mindset changes your behavior because it determines what you focus on, which affects how you act.

When you experience scarcity — be it a lack of time, money or social connection — your attention shifts to the scarce resource. This focus can be helpful, but it also causes “tunneling,” or ignoring other needs and obligations.

“On a very basic level, scarcity mindset makes you feel bad, and abundant makes you feel good,” Kirkland says. “When you feel negative emotions, it leads to narrowed attention and hyperfixation on the thing that’s causing you to feel negative.”

For example, suppose you believe you don’t have enough time to finish a project at work. In that case, the scarcity mindset might help you focus on that project — but you are also more likely to neglect other work and personal responsibilities, especially if they don’t have immediate benefits.

Real and perceived scarcity can increase jealousy, stress and competition, Kirkland says. It can hold your mind captive, taking over your thoughts and taxing your brain so that you can’t think of other things. This in turn leads to behaviors focused on short-term coping, even if these actions worsen long-term outcomes.

Which, when you think about it, makes a lot of sense. If you’re on a tight deadline and feel you lack time, you might cut corners to complete the project even if this harms your long-term business goals.

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How to develop a more abundant mindset

Many people face a real lack of resources, and even if you have sufficient means to meet your day-to-day needs, competitive environments foster a perceived sense of scarcity.

Kirkland says that cultivating a more abundant mindset can help you see connections, broaden your perspective, solve problems and make decisions that will benefit you long-term — even when your resources are low.

Foster collaborative relationships

Your environment matters. If you’re in a workplace that encourages competition over collaboration, it’s going to be harder to adopt an abundant mindset.

“If you don’t want to be stressed out and competitive, then don’t make that your peer group and avoid the field where those behaviors are rewarded,” Kirkland says.

This is easier said than done. One way to try to nudge culture in a more abundant-mindset direction is to try to encourage and celebrate the successes of your co-workers and friends, instead of viewing their wins as your loss.

Practice gratitude

Gratitude can help you be aware of what you do have, instead of fixating on what you don’t.

Writing down things you are grateful for each day or at the end of each week is an easy and tangible way to help shift to a more abundant mindset.

Notice and redirect automatic thoughts

Noticing your thoughts allows you to question if they are true and if they are beliefs you want to hold, or if you’d rather replace them with a different perspective.

“If you do this frequently enough, you’ll get better at interrupting those automatic habits of thought in all areas of life,” Kirkland says.

Say your colleague wants to join a project you’ve been working on. Your automatic thought might be that they are trying to steal your thunder. However, if you can step back and notice the thought, you can choose to instead assume positive intent and believe there is enough room for both of you to work and succeed in this area.

Advocate and give support

Part of developing a more abundant mindset is recognizing when you have resources and sharing them. The idea here is that helping and giving to others lifts everyone up.

If people find big and small ways to support each other, this creates the resources others are seeking.

“I think if we want to have more collaboration, abundance and optimism, we need to create the life for ourselves we hope to find,” Kirkland says. “We can start local and in our sphere of influence; that can be really empowering.”

4 Ways to Shed Scarcity Mindset (2024)

FAQs

4 Ways to Shed Scarcity Mindset? ›

Instead of focusing on what you don't have, think about what you do have and how you can use it to create something better. To reframe your thinking, acknowledge the thoughts that are causing you to think in a scarcity mindset without judgment or criticism.

How to break out of scarcity mindset? ›

Instead of focusing on what you don't have, think about what you do have and how you can use it to create something better. To reframe your thinking, acknowledge the thoughts that are causing you to think in a scarcity mindset without judgment or criticism.

How to beat scarcity brain? ›

Strategies for shifting from a scarcity to an abundance mindset
  1. Start your day by reflecting on the positive things around you. Wake up a little earlier to start your day off at a slower pace than usual. ...
  2. Practice showing appreciation for others. ...
  3. Look back to notice how far you've come.

What does the Bible say about a scarcity mindset? ›

2 Corinthians 9:6-8 (ESV) — “The point is this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully. Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.

What is the quote on scarcity mindset? ›

Scarcity captures the mind. Just as the starving subjects had food on their mind, when we experience scarcity of any kind, we become absorbed by it. Scarcity captures the mind. Just as the starving subjects had food on their mind, when we experience scarcity of any kind, we become absorbed by it.

How to heal scarcity trauma? ›

How to Snap Out of Scarcity
  1. Focus on what you have. Scarcity often scares people from making career changes because they think there aren't enough opportunities. ...
  2. Surround yourself with positive people. The people around you will influence you. ...
  3. Practice gratitude. ...
  4. Recognize the possibilities.
Feb 25, 2024

How to solve scarcity? ›

Another way to deal with scarcity is by reducing demand through quotas, rationing, or price caps. Scarcity forces consumers to make choices that come with associated opportunity costs. Opportunity cost is the cost of what is given up, compared to the value of the alternative.

What is the root cause of the scarcity mindset? ›

A scarcity mindset can stem from a lot of things — the root cause could be a life-changing event that makes you focus on what you've lost or are missing. This might be losing a job, climbing credit card bills or a divorce.

How to switch to abundance mindset? ›

How to have an abundance mindset: 8 tips to help you cultivate abundance
  1. Change is inevitable, so why not embrace it? ...
  2. Let gratitude shift your focus from lack to abundance. ...
  3. Practice mindfulness and live in the present. ...
  4. Celebrate others' achievements. ...
  5. Recognize and challenge limiting beliefs.
Mar 18, 2024

Can scarcity ever be solved? ›

Because of unlimited wants we can never eliminate scarcity, but it can be reduced by the right choices.

How do you know if you have a scarcity mindset? ›

Signs of Scarcity Mindset
  1. Thinking you always lose and others always win.
  2. Viewing others as competitors.
  3. Being overly controlling.
  4. Being pessimistic.
  5. Feeling like you're always behind.
  6. Being impatient.
  7. Over-scheduling yourself.
  8. Feeling depressed or paralyzed.
Dec 21, 2023

Do rich people deal with scarcity? ›

Scarcity is the basic economic problem. It arises from the insufficiency of resources to satisfy people's wants. Scarcity is ubiquitous. Rich people face scarcity when they want more than they can buy, when they can't be in two places at once, and when, accordingly, they must choose among alternatives.

What is the spirit of scarcity? ›

The spirit of scarcity is a mental attitude that is characterized by the belief that "there is not enough" of a certain thing - whether it is money, time, opportunity, love, resources, etc. Scarcity-minded people tend to see life as a zero-sum game, where one person wins at another person's expense.

How do I drop my scarcity mindset? ›

How to develop a more abundant mindset
  1. Foster collaborative relationships. Your environment matters. ...
  2. Practice gratitude. Gratitude can help you be aware of what you do have, instead of fixating on what you don't. ...
  3. Notice and redirect automatic thoughts. ...
  4. Advocate and give support.
Nov 14, 2022

What is the scarcity principle in life? ›

The scarcity principle is an economic theory in which a limited supply of a good—coupled with a high demand for that good—results in a mismatch between the desired supply and demand equilibrium.

What did Adam Smith say about scarcity? ›

As I have detailed, Smith believed that people could not make decisions that were good for society without the aid of an artificially-imposed scarcity, which aided them in making decisions that were as misguided for the individual as they were essential for society.

Is it possible to eliminate scarcity? ›

Because of unlimited wants we can never eliminate scarcity, but it can be reduced by the right choices.

How do you overcome time scarcity? ›

7 tips to combat time scarcity
  1. Accept there is only so much you can do. This first step is both the most important and difficult for most of us. ...
  2. Understand your availability. ...
  3. Prioritize your to-do list. ...
  4. Schedule time for your tasks. ...
  5. Learn to say 'no' ...
  6. Manage distractions & interruptions. ...
  7. Take time for yourself.
Jan 20, 2023

How to stop scarcity mindset dating? ›

Scarcity: Limiting Beliefs and Insecurities

This mindset negatively affects mental health and well-being. To overcome scarcity, adopt abundance, engage in self-care, and develop healthy habits for a more fulfilling dating life.

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