Assessing the Scarcity Mindset & Its Impact on Mental Health
A scarcity mindset is characterized by a pervasive belief that resources, including financial, emotional, or social resources, are limited (Kalil et al., 2023). In other words, people with a scarcity mindset are often preoccupied with what they lack.
This mindset leads to chronic worry and fear that there will never be enough to meet one’s needs. It drives behaviors focused on hoarding, competition, and self-preservation (Mitsui, 2022).
Scarcity vs. abundance mindset
In contrast, an abundance mindset is the belief that there are plenty of resources and opportunities available for everyone (Geyer et al., 2023). This mindset fosters optimism, collaboration, and a focus on growth and potential.
An abundance mindset encourages people to see the world as full of possibilities. It promotes a sense of security, trust, and community, emphasizing collaboration over competition (Freebairn-Smith, 2010). Individuals with an abundance mindset are more likely to take chances, embrace change, and pursue opportunities without the constant fear of loss (Yost et al., 2019).
Converting a scarcity mindset into an abundance mindset involves recognizing and challenging our ingrained beliefs about limitation and insufficiency (Kizer & Hinueber, 2022).
It requires intentional practice, such as focusing on gratitude, setting growth-oriented goals, and surrounding oneself with positive influences (Saunders, 2015). This transformation can lead to enhanced personal and professional growth, better relationships, and a more fulfilling life.
Uncovering the Root Causes
Understanding the root causes of a scarcity mindset is important for addressing and transforming this limiting perspective.
The research is still in its infancy, but it would seem that a scarcity mindset often stems from various deep-rooted causes (Peterson, 2020).
Examples of causes include childhood experiences, societal and cultural influences, personal traumas and setbacks, and cognitive biases (Belk et al., 2023; Jiang et al., 2024).
If you’re working with clients who are struggling with a scarcity mindset, uncovering their root causes may help them understand why they think the way they do and take steps to shift toward an abundance mindset. This shift will require recognizing their ingrained beliefs, challenging them, and adopting new habits that promote a sense of abundance and possibility.
Elaine Starling provides an interesting viewpoint regarding scarcity mindset and how to pivot from scarcity to abundance in her TEDx talk below.