Admit it–you believe that having a million dollars will make you happier.
I know I’ve felt this way before, but maybe you don’t want a million. You only want this unknown amount that you can never seem to reach. I’m not judging you, but having this mentality can leave you feeling empty most of your life.
The problem is that by having a scarcity mindset you’re always going to view the glass half empty. You’ll always end up wanting more money after getting get a raise–more vacation after having 3 weeks off. The list goes on and on.
But, there’s a better way to live your life–adopting an abundance mindset.
You’ll be able to reach higher goals, higher wealth, and a higher purpose–living a happier life. The only catch is that it’s hard as hell to get to this level. You won’t build an abundance mindset in 90 days.
You’re not changing one small habit, you’re changing a big part of your lifestyle. But, if you’re willing to put in the hustle, then you’ll reap the rewards along the way. Here are 10 strategies for building an abundance mindset to live a happier life and have more wealth.
Have you noticed all the hype that’s around meditation?
It’s for a good reason–mediation works.
Studies have found that meditation helps reduce rumination–negative thoughts repeating inside your head. By having less negative thoughts you’ll be more present with your daily tasks. But meditation isn’t a fad–it’s been around for thousands of years.
I’ve been meditating for over a year now and have experienced many benefits. For example, I’ve been able to sleep 10–15 minutes after going to bed–something that I wasn’t able to do for years.
Meditation helps you build an abundance mindset by having a stronger awareness. When you’re more aware you’ll notice more money-saving opportunities.
What holds many people back from meditating is believing they have to be experts or be around others. Luckily, you don’t have to be an expert–nor meditate in public. A great tool to mediate is Headspace.
Start meditating 3 minutes per day and work your way up.
Don’t underestimate the power of gratitude.
Being grateful is a great way to build an abundant mindset. You’ll feel happy about being healthy, having access to clean water, and much more. A great tool to help you practice gratitude is a journal.
Aim to write down 1–3 things you’re grateful each morning. Doing this in the morning is important so you won’t get distracted.
In a study by Harvard psychologists, the group who wrote things they were grateful for throughout the week were more optimistic. Journaling is a great habit, but many aren’t natural writers.
If this is the case for you–start writing one thing you’re grateful for each morning on a blank sheet of paper. Once you start experiencing the benefits of gratitude–buy a journal. By patiently practicing a new habit, you’ll be more likely to stay committed.
Chances are that if you’re like me, you wonder how successful people are able to do so much each day. Take Gary Vaynerchuk for example, owner of VaynerMedia, a 100+ million dollar company. Despite having a high work ethic, Gary accomplishes a lot each day because he focuses on the right tasks.
Although Gary currently has a large team, this wasn’t always the case. Back in the early 2000s, Gary was building up his Dad’s liquor store with YouTube.
It’s common for most people to complain about why they don’t have enough time during the day. Hacking your time starts by prioritizing. Whether it’s attending your kid’s soccer game or writing down 1000 words daily–decide which tasks must get done.
As you’re writing down a few things you’re grateful for, also write down the tasks you’d like to finish by the end of the day. Rank your tasks in order of importance and start getting more done.
Give more than you receive.
For example, volunteer your time at a non-profit company or donate money to the less fortunate. The problem is you may have a dozen excuses for why you can’t donate currently. Either you’re too busy to spare a few minutes or have too many bills to pay to donate a few dollars each month.
Instead, focus on how you can find an extra money each month or extra time. To find extra money start a side hustle or hack your finances. Rank your tasks using your calendar and only finish the most important.
Research shows that people who give more live happier and healthier lives. Besides these positive benefits, you’ll put yourself in the position of abundance. Most people hold back to giving because they believe they’re losing money or time.
The truth is, you’ll gain much more when you start giving.
“You are the average of the five people you spend the most time with.” – Jim Rohn
Growing up I used to believe that it didn’t matter who you’d spend your time with–as long as you had the right mindset. This is true to an extent. The problem is that the people who you surround yourself with have an influence towards you.
Take my case for example, back when I was in high school I was a good student. When I surrounded myself with the wrong crowd I began skipping classes and my grades dropped. I escaped this cycle before it was too late–but you’re still prone to similar bad habits as an adult.
Start becoming more aware and you’ll begin to notice the people who always complain at the office. These types of people have scarcity mindsets.
Because they are victims of their current situation–believing they have no way out. If you’re reading this article–chances are you an ambitious person. Make it your mission to build a strong network.
A great place to start is by joining Facebook groups in areas you’re passionate about. Then, work your way to attending local events in person–using sites like Meetup.
Stay humble and always be willing to learn from others.
It’s easy for your ego to take over and ignore people’s advice—especially if they are less experienced than you. Once you realize that learning is a life-long journey–a world of abundance will open for you.
Most people stop learning the moment they finish school–huge mistake. Get into the habit of reading new books, taking new courses, and learning from experts. The more you start learning–the more opportunities you’ll discover.
A great example was during the 2008 recession when many people were in a financial crisis. Those with bad money habits–and a scarcity mindset–struggled to maintain their lifestyle. A few viewed this period as a great opportunity buy real estate properties at a bargain price.
Never let anyone take the blame from your mistakes.
This may seem surprising to some, but there’s power in taking ownership. When you become a victim of your mistakes you’re claiming that you don’t have a choice—you’re not in control. It may feel good to avoid responsibility, but you’re training yourself to feel powerless.
How does blame help with having an abundance mindset?
Being responsible for your actions opens the door to more choices. Take, for example, Shari, an entrepreneur, diagnosed with multiple sclerosis. Instructed to start a strict food diet by a herbalist–Shari discovered that most of the food she was eating didn’t taste good.
Instead of falling victim to her situation Shari began making her own food. Too many family and friends requested her products that she started charging them. Most people in Shari’s scenario would fall victims of their sad circumstances.
Start taking ownership to view the great alternatives you sometimes have.
“Your beliefs become your thoughts, Your thoughts become your words, Your words become your actions, Your actions become your habits, Your habits become your values, Your values become your destiny.” -Gandhi
What you perceive will become your reality.
If you believe that you aren’t smart enough to build a successful business, this will be your reality. Imagining that you’ll be a great entrepreneur alone won’t help either–nice try though. The trick is finding the right balance for believing your thoughts and taking action.
That’s where visualization comes useful–you can prime your mind to think in abundance. For example, you can visualize yourself having wealth before actually obtaining it. Visualizing alone won’t be enough for you to reach your goals–you need to be specific.
Guang Yue, a psychologist, studied the brain patterns of weightlifters. Guang discovered that there was a 30% muscle increase in the group that went to the gym. He also found that there was a 13.5% increase in the group that only did mental exercises–half as much as the other group.
If visualization can help you gain muscle–it can shift your mind to think more positive.
Self-compassion has many benefits other than loving yourself. For example, it allows you to understand how interconnected you are with others–not feeling isolated when you face challenges. You’re also more present–not feeling unnecessary pain.
Self-compassion is a great skill to have to live a happier life. Especially since Western culture is competitive–where people get rewarded for being the best. Being the best comes at a cost.
According to the Federal Reserve, 43% of Americans–almost half–spend more than they earn. This shocking truth lets us know the cost of having a scarcity mindset.
Here’s why self-compassion helps you live in abundant life. First, you won’t buy things to impress others. You also won’t seek comfort from materialistic items to heal your pain.
If you’re wondering how to start being more compassionate with yourself– Kristin Neff, author of “Self Compassion” did several case studies on this subject. Practicing some of the exercises covered in her book is a great way to get started.
Don’t let failure you cripple you from reaching your goals.
Often times failure can limit your choices to only one–not taking action. Since Western culture is competitive, it’s obvious why most people fear failure.
Instead, view failure as a learning experience. For example, it took Thomas Edison 1000+ tries to discover the light bulb. This is an extreme scenario—but you get the point.
Once you realize that you can always improve from your mistakes–failure becomes beneficial. You’ll know the potential of learning from your mistakes–removing the limits most people place for themselves
So you now know many strategies on how to build an abundance mindset—now what?
Start improving in all these areas. Once you learn how to be happy with less money—you’ll be in a better position to earn more. The best part is that you won’t be dependent on money to make important choices.
You’ll have more and give more to others.
It’s easier to feel happy once you start earning more money–but how long would this last? Not too long–I know this because after earning more money the excitement faded away. The real challenge is learning how to be wealthy without earning more.
As Gary Vaynerchuck puts it nicely–if you’re happy and content, you’ve won.
Imagine feeling fulfilled and impacting the lives of others in a positive way.
You’re not a millionaire. Yet, you’re not broke and live happier than ever.
How great would this be?
The truth is you can start feeling happy today. You can put yourself in the position to give to others and feel grateful for what you already have.
Some of the wealthiest people in the world still feel poor–earning more money isn’t the answer.
Most of the choices mentioned above can help you live happier and break limiting beliefs. When you’re at peace with yourself amazing things will happen in your life. The problem is changing your mindset to spot new opportunities won’t be easy.
But, I have a feeling that you’re up for the challenge. Start by mastering one strategy at a time–working your way down the list. Consume motivational content so you never run out of fuel.
Become too stubborn to quit.
Happiness is something that well all strive for. Isn’t worth all the sacrifice?
Chris writes personal finance and productivity articles for software companies. He gets fresh ideas through continuously investing in himself and interviewing successful entrepreneurs.