Here are five ways to switch from a scarcity mindset to an abundance mindset.

What if the government suddenly announced that there’s going to be a monthly free income for every citizen. What this means is that, no matter who you are, you’ll be paid a wage for being a citizen. How awesome! This is technically known as universal basic income. According to Democratic presidential nominee Andrew Yang in a Big Think video back then, he claims that giving people “free money” wouldn’t be a detriment to the state, it has the tendency of making people smarter. Dear friends, if that sounds like good news. Spoiler alert: Mr Yang didn’t win the election. But fortunately, this could help you develop an abundance mindset.

How To Develop An Abundance Mindset 101

In an article published on Forbes, career and life coach Caroline Castrillon offered five points that could help you develop an abundance mindset and make the best out of your cognitive skills.

“The mind is everything, what you think, you become,” she states that this is her favorite quote, and of course, this is so true.

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One study that sought to test this idea (in a different way than giving everyone free money), researchers gave some farmers an IQ test before the harvest, and later gave them the same test again after the harvest. Surprisingly, their scores went up by 13 points from the first test than the next. Same farmers, same test. The only difference was that they worried about money.

The catch? In the first test, the farmers had a scarcity mindset — they were worried about not having enough to nothing. Whereas in the latter test, they had an abundance mindset — they were optimistic that they had enough to go around. Being pessimistic makes you think you’re always going to lose, whereas being optimistic creates a sense of possibility, literally making you smarter.

This is exactly why Yang thinks paying Americans a thousand dollars each isn’t a bad idea, after all. He claims this will unleash the creative energy of Americans, and the reason why positive reinforcement drives people towards success than criticism.

(Would you have voted for him?)

#1. Focus On What You Have

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Let’s say you’re thinking of quitting your job for another, Castrillon suggests that instead of making assumptions such as, “There aren’t enough good jobs out there,” or “I don’t have enough transferable skills,” you should consider thoughts such as, “Wow, I have 25 years of marketing experience, which will be huge asset,” or “Over the past 10 years, I’ve made great contacts.” Here, you switch from a scarcity mindset, where you see no opportunities, into an abundance mindset, where you see limitless opportunities.

#2. Be Around Optimistic People

Image: Paramount Pictures / The Wolf Of Wall Street

They say show me your friends and I’ll tell you where you’ll be in the next five years. The people you spend time with literally influence your life. So if the folks around you see the glass as half-empty instead of half-full, your glass will never run over. Be around people who always see light at the end of the tunnel, the ones who see more than what meets the eye.

#3. Create Win-Win Situations

“A scarcity mindset believes that if one wins, another loses,” Castrillon writes. “Try to create win-win conditions in your life to combat this manner of thinking.” This means looking for means that will let you and your partner feel better about your relationship. “This often means listening without judgment or censorship,” she continues, “fully understanding what a win-win means for both of you, and brainstorming solutions until you find one that satisfies both parties.”

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As Bob Marley famously sang, “when one door is closed, many more is open.”

#4. Practice Gratitude

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As Castrillon points to a quote from Oprah:

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

#5. Always Find Possibilities

If you don’t focus, you’ll miss the big picture; focus too much, and you’ll miss unexpected opportunities.

“Start training your mind to loosen its focus and create an expanded awareness. Ask yourself if you had all the time and money in the world and you knew you couldn’t fail, what would you be doing?” Castrillon suggests “Questions like that will help to open your mind up to what’s possible.”

Let us know whether you have a scarcity or an abundance mindset.

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Written by: Nana Kwadwo, Tue, Jan 04, 2022.



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