Scarcity Thinking Robs Us All

We spend one or two days a month worrying about money, according to a 2016 Mercer consulting study. That is the equivalent of being robbed of 2 to 3 weeks per year, when we could be enjoying life. For employers, it is estimated that $250 billion a year is lost to worker stress, much of which is financial.

(Source:  USA TODAY article by Russ Wiles of the Arizona Republic - "When money issues hit workers, employers are the ones who pay." - 8/29/17).

In an earlier post on this site, I shared the dynamics of scarcity thinking.  A recent google search produced a concise article by Shahram Heshmat, Ph.D. ` "The Scarcity Mindset" in Psychology Today, 4/15.

Limitations affect our thoughts, feelings, choices and behaviors.  On the positive side, we get more focused when resources are scarce; such as a looming deadline. But a constant scarcity mindset, think living in poverty, makes us focus too much on short-term needs.  We can only make so many either/or decisions, and often a 'self-control failure' results. An example is continuing to smoke, despite long-term consequences.

Dr. Wendy Shumway, a Guest on my community TV show, encouraged us to move towards an abundance mindset, vs. either/or thinking.  Not an easy task when faced with monthly bills, but the only way to steal back our precious time on earth. Studies show that getting enough rest is a good place to start.

Check out Wendy's interview under the "MidLIFE Matters" tab on this website.