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how to develop an abundance mindset

Are you wondering what is the meaning of scarcity and abundance mindset? Are you wondering which one you have? Don’t worry I’ve got you covered! We will talk all about how to spot a mindset of scarcity and how to develop an abundance mindset.

Abundance is a word that gets thrown around a lot. It is an overused but often misunderstood term, BUT it makes all the difference when properly applied to your life. I would venture to say that it is the difference. The difference between people who have, get, and receive the most from life, and everyone else.

I am sure you are reading this and thinking, well yeah, I want to get, have, and receive the most out of life! Who doesn’t?

But I challenge you: where is your mindset? What are the most common words in your vocabulary? What are the thoughts that are most frequently in your head?

You might be surprised by the answer.

I have created this short quiz for you to identify whether you are in an abundance or a scarcity mindset. The results might surprise you.

For each question pick the option which applies most closely to you. Or the thought that you have the most often.

abundance quiz
  1. Time is money
  2. Time and money are not directly related
  1. I have to work to make enough money
  2. I can enjoy what I do
  1. I should be in a relationship
  2. I believe there is someone out there for me
  1. I am stressed that I’m not doing enough/not doing the right thing
  2. There’s no wrong way for me to spend my time
  1. I don’t have time to do the things I want to do
  2. We all have the same amount of time
  1. I never want to go into debt
  2. Debt doesn’t say anything about me
  1. I always have a backup plan
  2. I am responsible for protecting myself
  1. I must save money for a rainy day
  2. I trust myself
  1. Money isn’t important, people are
  2. Giving money feels good
  1. I don’t want to be a sellout
  2. Having money is a good thing
  1. I am not lucky
  2. I am happy for other people
  1. I need to be in control
  2. I trust the process
  1. I compare myself to others
  2. I am on my own journey/everyone’s journey is different)
  1. I should do things differently
  2. Things will work out how they are meant to
  1. I should take better care of myself
  2. I am doing a my best)
  1. My boss is out to get me
  2. People’s actions are not about me
  1. I take a reactive approach to life
  2. I take a proactive approach to life
  1. I am always late
  2. I create my time
  1. Money doesn’t grow on trees
  2. The money will come
  1. There are not enough men/women to go around
  2. I am lovable

How many 1s did you get? ___ /20

How many 2s? ___/20

Did this quiz make you realize you want to get rid of your mindset of scarcity and learn how to develop an abundance mindset? That is great news! I have been there myself! I wrote about my own journey to an abundance mindset because I did not truly understand the power of a scarcity mindset until I identified my own and began the work of changing it.

how to develop abundance mindset quiz

A Scarcity Mindset:

A scarcity mindset is one of fear, insecurity, and control. Of taking things too seriously, believing that if you fail, the world will end. It is short sided and focused on short term decisions, instant gratification and a reactive approach to life, rather than planning ahead and trusting that waiting or missing something now will pay off long term. A person with a scarcity mindset fears that there is not enough love, time, money, or happiness to go around, and this is what drives them; fear of not having enough.

An Abundance Mindset:

An abundance mindset comes from a place of trust, acceptance, and a deep sense of inner worth and security. An abundant mindset takes a proactive approach to life. A person with an abundance mindset understands that there is more than enough love, time, money, happiness etc. to go around, and rejoices in other people’s accomplishments. They are giving of their love, time, money, happiness, etc. openly and with joy.

Now what do you think? Did you have more answers from the 1’s?

Do these thoughts sound familiar?

  • I should…
  • I don’t have enough
  • I’m not good enough
  • I don’t have enough time
  • I don’t have enough money
  • I don’t have enough control
  • I’ll never meet someone
  • My life is limited to my bad choices
  • I always make the wrong choices

Chances are you have a scarcity mindset about some (or many) areas in your life.

Don’t worry! Most of us do! You are not alone! Now that you have identified it, you can begin the work of shifting your mindset and developing a mindset of abundance. It’s not easy, but it is very possible and definitely worth it.

You need to transform your whole frame of mind to an abundance mindset; to a place where you understand that there is:

  • Plenty of time
  • Plenty of money
  • Plenty of success
  • Plenty of happiness… to go around. For everyone.

You don’t need to be motivated by fear. You do not need to control everything. You need to let go and trust that we live in an abundant universe, in which anything and everything is possible and available. Here is how to develop an abundance mindset:

How to identify scarcity and create more abundance

How to Develop an Abundance Mindset:  

1.State the Facts vs. the Thoughts.

Understanding your scarcity mindset starts with understanding your scarcity thoughts. Thoughts are feelings and emotions that are completely optional and separate from the facts. A fact is: I weigh 150lbs. A thought is: I should weigh less, I weigh too much.

2. Identify What You are Making these Thoughts Mean and Why

What are you choosing/allowing to have these thoughts mean about you and who you are? Why?

3. Create Neutral Thoughts

Don’t try right out of the gate to start thinking abundantly about something that is a big struggle for you, first start out with a neutral thought: I am working on my weight (not a negative thought: I should lose weight) and then repeat this to yourself everyday, ALL DAY until it becomes your truth.

4. Create Positive Affirmations

Once the neutral thought becomes your truth, start to work towards changing it to an abundant thought: I am the perfect weight. I am perfect the way I am. I love my body. If you started with this step you may never get there because you would have a hard time believing it. Start neutral and work your way up.

5. Give Freely

Want an abundant mindset? Give abundantly! Want more money: give more money. Want more time: give of your time. Want more love: love freely. Want more praise and recognition: give praise.

6. Get Organized

When you don’t feel abundant or good about yourself, or life in general, it may mean that you are not in order. The simple process of getting your possessions, your time, and your finances better organized does a lot to cultivate an abundance mindset. By getting organized, you begin to see how many things and how much time you actually already have in your life.

Did you get more 2s than 1s? Are you a person who believes in the limitless possibilities of the universe and that there is more than enough for everyone? How do you find that affects your day to day life? Where have you found having this mindset has created more possibilities in your life?

To Conclude:

I think that everyone has areas where they feel, believe, and trust in abundance, and areas where they feel controlling and scarce. The most common themes overwhelmed by scarcity are time, money, and love. BUT, there are plenty of places where abundance rings true! Just look at the mentality here in the U.S. that anything is possible if you work for it.

Now that you understand how to spot a mindset of scarcity and know how to develop an abundance mindset I challenge you to look at your thoughts and analyze: Is this thought from a place of abundance or from a place of scarcity? And then set about the work of moving to a place of abundance. For more help with abundance, check out my own Personal Journey with abundance.

And if you are serious about achieving your goals you are going to need some accountability help! And guess what?

I help Gutsy women just like you achieve their goals with confidence and ease in as little as 3 months!

So why not hop on a call with me and figure out once and for all what is causing you to fall short on your goals and what to do about it?



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Amanda Richey