The Greatest Damn Response to the Bear Market and the Rising Inflation: Abundance Mentality
It’s that time of the year we preach
Recent spates of bad news have bombarded us in the various media we interact with on a regular basis: Surging oil prices, the P54 per dollar, the 9-year high inflation rate at 6.4%, metro traffic woes (EDSA), bearish market—it seems nothing is going right these days.
What now? What are we going to do? You may be asking, along with millions of Filipinos right now.
It’s during these tough times that we tend to blame other people and circumstances. We may be blaming the excise taxes on oil, or the government for continued bureaucracy and inaction…. etc…..
Okay, we should stop you right there.
In this week’s blog (and I hope you don’t mind)…. let’s preach.
We’re stepping away from discussing entrepreneurial and investment options to return to something more fundamental to wealth.
Neuroscientists, psychologists, and teachers have long accepted the fact that mindset can radically affect the course of your life. They have dozens of studies to prove this. A positive/negative mindset is your success barometer in how you learn, handle stress, create resiliency, and strengthen your immune system.
Your mind is a remarkable thing. It’s priceless. And your only job is to protect it from getting contaminated by negative influences, which causes negative perception, and then negative outcomes.
Believe it or not, the cure of all your economic woes is your mind: It has to believe it can—and will—take you to the level of wealth you desire
An abundant mindset will always, always, provide you the economic and entrepreneurial opportunities and wealth you need.
But your mind needs to run in a constant state of an abundance mentality, not scarcity mentality.
The abundance mindset is really the single, most consistent factor that separates happy and unhappy people; successful and unsuccessful people; the self-made millionaires and the miserable employee.
What is Scarcity Mentality?
Society is built around a scarcity mentality. This creates a kind thinking that lets people believe that there is a lack, that money is few and that opportunities come only once, twice, or not at all.
Thinking about scarcity may have its uses. For one thing, it makes people buy stuff and that they need to hurry in their purchases before supplies run out.
Over time this becomes unhealthy because thinking too much about lack leads you to suffer in unnecessary fear, desperation, and anxiety.
Eventually, the belief becomes a sickness—with your mind laced with a scarcity mentality.
If you’re contaminated by this, you believe that life can only give you so much. There’s a piece of pie and if one gets a slice, there would be less for others.
Because of this thinking, you believe that success depends on having winners and losers. To prevent becoming a loser, you compete and then you compare yourself with others. To become winners, you still compete and still compare yourself with others. You compete for available resources, even though there is an abundance of it. Either way, you suffer emotionally—pitifully.
All because you think there are few opportunities and resources for everybody.
But, hold on a minute, isn’t economics, in general, revolve around the problem of scarcity?
If there’s anything we learned about in our economics class, it’s this: society only perceives scarcity—it only deals with the thinking that resources are few.
What economics really does is to wage the never-ending battle against the perception of scarcity, not scarcity itself.
Its end goal is to create abundance—or at least come up with a structure that will bring about an abundance mentality.
So what is Abundance Mentality?
Abundance mentality is a natural thought process that interprets the world as unlimited and boundless. You see the events of your life as a chain of continuous opportunities. You look at wealth and resources in everything—that there is more than enough for everyone.
With this way of thinking, you pull yourself out from anxiety, worry, and fear created by your scarcity-stricken mind.
When you don’t compete, you don’t have to worry about your share of opportunities and resources. You don’t think you’ll run out. When you work towards your goal, you focus your energy and on yourself instead of the problem. You build momentum. You become like a star player—playing in the zone.
It could be challenging to set your mind to think in abundance day-in and day-out with the constant badgering of bad news in social media, newspapers, and TV.
My advice is simple: Ignore them! Read something more uplifting. Don’t pollute your mind with things that will only stress you out.
Remember, my friend, “Life is too short for negative energy”, said Bruce Lee.
An in-your-Face List of Don’ts
Unless abundance mentality has become a fixture in your mind (and I’m being specific here), stop watching your evening news filled with crime and corruption. Stop watching soap operas with sob stories that corrupt the mind of Filipino masses with unnecessary stories of poverty, melodrama, victimization (sampalan, iyakan, apihan, patayan).
Stop reading negative posts on FB. Unfollow them if you must. Stop reading and strolling comments of complainers and trollers in social media (the less you respond to negativity, the more peaceful your life will be).
Moreover, stop commenting on negativity and anger yourself.
Stop making people feel bad. Period.
“No one ever got rich by studying poverty and thinking about poverty” said Wallace D. Wattles author of The Science of Getting Rich.
In the same vein, no one ever became happy and inspired by watching and reading about misery and complainers. They are neither worth your energy nor your time.
Don’t surround yourself with negative thinking people. You must not accompany negative people if you want a positive life.
Gratitude—that’s all there is to it.
Since we’ve mentioned Wallace D. Wattles, let’s indulge more of his valuable insights.
Abundance mentality begins and ends with gratitude in mind, he wrote.
As such, we simply have to be thankful for everything.
… Even the government, even the TRAIN Law, even Duterte, Aquino, Marcos, Estrada, Arroyo, ….everything, and everyone….
According to Mr. Wattles, “let us not waste time thinking or talking about the shortcomings or wrong actions of those in power…. Do not rage against corrupt politicians. If it were not for politicians we should fall into anarchy and your opportunity would be greatly lessened.…”
These words may be controversial to a lot of people and you may be offended by the actions of politicians and leaders of today.
But try not to.
You must detach yourself from negative outcomes and create a wall of gratitude around you.
An abundant mindset knows that all of these are necessary. They arrange the lines of transmissions so that wealth and riches will come to you.
Seeing the good and abundance in everything will create such relations that the good and abundant will move toward you.
I say, amen to that, Mr. Wattles.
And thank you.