Buzz
These times can make optimism feel out of reach. In March and April, when many were beginning to understand the full scale of the pandemic, there was still some hope that life might return to normal by summer. However, as we approach the end of the season with no end to COVID-19 in sight, survival mode seems to be the only viable option. It’s easy to fall into the trap of assuming the future will be bleak, but perhaps it’s more beneficial to adopt an abundance mindset. This shift in thinking could enhance our perspective. Let’s explore what it means and how it can help us stay positive.
What does it mean to have an abundance mindset?
For those who lack financial security, it can be hard to imagine a life free from the constant pressure of money-related stress. If this resonates with you, you may be operating from a scarcity mindset, where no matter your efforts, it feels like you’ll never have enough, and financial concerns will always remain. An abundance mindset stands in stark contrast to this: it focuses on appreciating what we already have, enabling us to envision possibilities rather than limitations.
How adopting an abundance mindset can make a difference
During Andrew Yang's campaign for the Democratic presidential nomination, he proposed a bold idea: a universal basic income of $1,000 per month for every American. He believed this could potentially make people more intelligent or, at the very least, improve the way we think.
Yang referenced a 2013 study from Princeton University, where farmers were given IQ tests before and after a harvest. The farmers who were less concerned about their finances saw a 13-point increase in their IQ. This led researchers to speculate that poverty might deplete the mental energy needed for other critical tasks in life. (Though we have our own perspective on IQ tests, that’s a conversation for another time.)
Yang used this research to demonstrate how a scarcity mindset can cause stress over what we lack, while an abundance mindset enables us to direct our mental resources towards more meaningful pursuits.
Practical steps to cultivate an abundance mindset
While there is plenty of advice out there on how to cultivate an abundance mindset, be cautious, as some sources come from dubious self-help ‘gurus’ or individuals promoting multi-level marketing schemes. If you're serious about learning, you might want to skip those. Instead, these five strategies from career coach Carol Castrillon provide a strong foundation to get started:
Concentrate on what you already have.
Surround yourself with others who embrace an abundance mindset.
Strive to create win-win scenarios.
Integrate gratitude into your everyday routine.
Train your mind to identify opportunities.
Like any transformation, shifting your mindset requires time and patience. It can be especially difficult when you’re dealing with daily financial stress, making the process frustrating at times. However, as both Yang and Castrillon suggest, changing how you perceive the stressors in your life can open up mental space for more positive aspects, such as happiness, productivity, and improved decision-making.
