Jul 302020
 

It’s all in how you think

In the book, The 7 Habits of Highly Effective People, author Stephen Covey explains that “most people are deeply scripted in the scarcity mentality. This means they see the world as containing only so much, as though there were only one pie out there. And if someone were to get a big piece of the pie, it would mean less for everybody else.” This leads to a zero-sum paradigm of life. People with a scarcity mindset have a very difficult time sharing recognition and credit. Not surprisingly they also have a hard time being genuinely happy for the success of other people.

“The abundance mentality, on the other hand, flows out of a deep inner sense of personal worth or security. It’s the paradigm that there is plenty out there and enough to spare for everybody. So it results in the sharing of prestige, recognition, profits and decision-making. It also opens possibilities, options, alternatives and creativity.”

Here’s a table outlining some of the thoughts people may have depending on if they’re in a scarcity or abundance mindset. (Click to enlarge)

People with an abundance mentality tend to be more financially secure, successful in their careers, and feel more empowered. So if you ever catch yourself thinking with a scarcity mindset, try to reframe your perspective and approach it with an abundance mindset instead. The difference between who you are now and who you want to be is what you do. And don’t forget to be thankful and confident. 🙂

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Apr 252014
 

Thanks to readers like you I’ve been added to the list of Top Finance Blogs over at Modest Money. Looks like I’m in the top 100 which I’m pretty happy about 🙂 Check out some of the other finance sites on that list if you want some weekend reading. Thanks to Jeremy for making the list :0)

ModestMoney.com Top Finance Blogs

On a side note. Remember how I said before that to become smart investors we have think like burglars, and be on the lookout for windows of opportunity? 😀  Well recently I ran into an amazing opportunity. A couple days ago I heard on the local radio station while driving to work that Rich Dad workshops are happening in the Greater Vancouver area this week 😀 I was so excited I signed up right away. Rich Dad is a financial education brand created by Robert Kiyosaki, author of the popular book Rich Dad Poor Dad. Some of you may have seen my Tweet announcement earlier on this blog.

14-04-richdadanounce

I’m glad at least one of my readers was interested in this learning opportunity too. So we actually went to the workshop together 🙂 I’m surprised there wasn’t more interest though.

So what did I get out of this 2 hour workshop? In short, a lot! 😀

First, there’s the complementary educational CD with a sticker price of $39.99. The contents in it include how to find investment reports, how to prosper in the “new economy,” and more. Then there’s also the free notepad and amazing ball point pen supplied by the hotel, also free (^_^) I go to so many of these seminars I never have to buy paper and pens anymore 😎  #setforlife

Second, the presenter, Katie, did a great job of getting the audience motivated about taking control of our money. The first thing we need in order to accomplish anything significant is passion, and she certainly inspired that in the audience 🙂 It all starts with a “burning desire.” Desires lead to actions, which leads to results. I’ll come back to this point a bit later.

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