I cannot afford it.
I cannot take a vacation because I have no money.
I am saving up (and saving up and saving up) for….
I need a new … (car, home, computer, clothes, or apartment), but I never buy it/them.
And we may second-guess every purchase—large or small.
These scenarios reflect scarcity thinking where we focus on the fear of not having enough. The scarcity mindset revolves around the belief that we have limited resources, opportunities, and options. Often, this leads to anxiety, frustration, and lack of fulfillment in our life and work.
When we adopt scarcity thinking, we may hoard resources, avoid taking risks, and see others as competition rather than collaborators. We believe there is always a need for more of whatever—money, food, time, or love. As a result, we may become over-protective of what we have and feel reluctant to share or give to others. We may also become overly self-reliant and avoid seeking help or support.
Scarcity thinking can significantly affect our quality of life, creating stress, anxiety, and discouragement. It can undermine relationships, limit growth and opportunities, and prevent us from achieving our full potential.
How can we shift this limiting mindset? We must…
- Catch ourselves when we entertain feelings of scarcity.
- Acknowledge our feelings and try to identify the underlying fear.
- Apply the Rule of Three and ask: “What difference will this make three weeks, three months, and three years from now?”.
- Adopt an abundance mentality, trusting there is enough.
- Believe we have unlimited opportunities and resources and that everything we need is within reach if we are open to it.
For example, let’s apply The Rule of Three to buying a car, which we may put off out of fear, despite our pressing need for wheels and having the money to afford the purchase. The difference in three weeks is that we are mobile and feel freer to go where we want. In three months, we are more efficient at getting things done to achieve our goals. And in three years, we have logged experiences and created memories of discovering and exploring new places.
By adopting an abundance mindset, we can release ourselves from the limitations of scarcity thinking and approach life with more openness, optimism, and generosity. Ultimately, we can experience greater joy, fulfillment, and success in our personal and professional lives.
Photo by Dominik Hofbauer on Unsplash