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  • Writer's pictureJosh Dandurand

Abundance or Scarcity; You Choose

Updated: Feb 21

“Nothing is enough for the man to whom enough is too little.” - Epictetus

Have you ever found yourself comparing your life to someone elses'? Wishing you had something that they had? Intelligence, looks, house, lifestyle?

Of course you have, you’re human!

In this world of social media glamorization, it’s hard not to feel envious of others at times. But, did you realize this is a characteristic of a scarcity mindset?

What is a scarcity mindset?

In very simple terms, a scarcity mindset, as introduced in Stephen Covey’s book “The 7 Habits of Highly Successful People”, can be thought of as focusing on what we don’t have, instead of being grateful for what we do have. If we choose to have a scarcity mindset, we can always find something to feel bad about.

A scarcity mindset leads to perpetual work towards the unattainable. The carrot that will always be just out of reach. A constant paranoia. A life occupied by a false promise that the “next thing” will lead to what you’re looking for, whether that be peace of mind, happiness, fulfillment, etc...

Note: (Please do not to confuse the concept of a scarcity mindset and scarcity of resources. Each present completely different planning challenges).

What is an abundance mindset?

On the flip side, having a abundance mindset often leads to a focus on gratitude, opportunities, contentment and a commitment to intrinsic growth. When we are content with what we have, I believe we tend to make better decisions, including financial decisions. We stop comparing ourselves to others. We follow and embrace our own path.

A scarcity mindset may lead to material riches, but it won’t lead to wealth, as defined by Brian Portnoy in the Geometry of Wealth as “funded contentment”. Portnoy defines funded contentment as "the ability to underwrite (afford) a meaningful life, however one chooses to define that". This is an ideal worth striving for.

Having an abundance mindset is key to not only long-term financial success, but living a happy and fulfilled life.

The Walden Planning process is centered around enriching people’s lives by inspiring them to live with intention and purpose. One would struggle to live with intention and find purpose without having an abundance mindset.

It’s often hard for people to see the connection between their daily mindset and their finances. We strive to bridge that gap. If you'd like to get started living with an abundance mindset, give me a shout. It is possible and I’d love to help you get started.

If you found these thoughts to be interesting, helpful or entertaining, please feel free to use the links below to share with a friend(s).

Dandurand Financial Partners, LLC d.b.a Walden Financial is a registered investment advisor offering advisory services in the State of Ohio and in other jurisdictions where exempt. Registration does not imply a certain level of skill or training. The information on this site is not intended as tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, or other securities or non-securities offering. This information should not be relied upon as the sole factor in an investment making decision. Past performance is no indication of future results. Investment in securities involves significant risk and has the potential for partial or complete loss of funds invested. It should not be assumed that any recommendations made will be profitable or equal any performance noted on this site. The information on this site is provided “AS IS” and without warranties of any kind either express or implied. To the fullest extent permissible pursuant to applicable laws, Dandurand Financial Partners, LLC d.b.a Walden Financial disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability, non-infringement, and suitability for a particular purpose. Walden Financial does not warrant that the information on this site will be free from error. Your use of the information is at your sole risk. Under no circumstances shall Walden Financial be liable for any direct, indirect, special or consequential damages that result from the use of, or the inability to use, the information provided on this site, even if Walden Financial or a Walden Financial authorized representative has been advised of the possibility of such damages. Information contained on this site should not be considered a solicitation to buy, an offer to sell, or a recommendation of any security in any jurisdiction where such offer, solicitation, or recommendation would be unlawful or unauthorized.

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