Which best describes the way you approach your life, and why does it matter? 

By Judith E. Lipson, M.A., LPC

In author Stephen Covey’s book, The 7 Habits of Highly Successful People, he describes the mindsets of scarcity and abundance.  Abundance is the recognition that there are enough resources and successes for everyone. He contrasted this with the scarcity mindset, which focuses on not having or being enough.

When scarcity is your mindset, you believe there is not enough to go around. Scarcity is founded on the idea that if someone else wins or is successful in a situation, another loses. There is little consideration for the possibility of all parties winning. Scarcity, therefore, often results in destructive and unnecessary competition.

Compare this mindset to those who see life as abundant. Individuals with an abundance mentality are able to celebrate the success of others rather than feel threatened by it. Abundance is the realization that there is always enough and that we need not worry about quantity and opportunity – for ourselves or for others.

You may believe that you live in a mindset of abundance, but it may surprise you [Read more…]