A scarcity mindset might fatten your wallet, but it’s not so great for your happiness. I’ve talked before about how thinking abundantly can help you grow richer, but it turns out, thinking the opposite way might also beef up your bank account. Let’s dig into this a bit.
One morning, our fire alarm went berserk. I scrambled upstairs, checking each room for the cause because once one alarm triggers, they all start howling—they’re connected that way. Despite the alarms blaring every 15 seconds, my wife, who was two floors down, didn’t reply to my texts. Frustrated, I dashed downstairs only to find her fresh out of the shower. Turns out, the steam from her long shower had set off the alarm, just like a few months back. I was relieved but also annoyed she hadn’t responded to my urgent texts. In that moment, I realized my scarcity mindset had made me unfairly snappy.
Speaking of showers, my military family background taught me the value of a quick three-minute rinse. But my wife loves her 15-20 minute showers, which I blamed for the steamy alarm fiasco. After cooling down, I saw the error in my ways. Sure, I can handle quick showers and fuss over every penny on our water bill, but at what cost to our relationship?
Scarcity doesn’t stop with water. It extends to electricity, food, and time. I’m that guy who’ll turn off the lights even if you’re still in the room—yes, I know it’s annoying. This attitude springs from a frugal upbringing and a deep-set fear of poverty, shaped by my childhood in places where resources were scarce.
For instance, I can’t stand food waste, influenced by my years in countries where people struggled for a meal. It’s why I always clear my plate or pack leftovers. And when it comes to time, I’m hyper-aware of it. Losing a friend young made me overly conscious of how I spend each minute, often to the detriment of my ability to unwind and causing unnecessary strain on my wife.
While these scarcity-driven habits can indeed lead to greater savings and investment opportunities, they come with their drawbacks. Forcing yourself into a corner to save money can strain relationships and personal well-being.
In short, having a scarcity mindset can make you richer, but it’s also crucial to strike a balance. Appreciating what you have and not sweating the small stuff can lead to a richer, happier life. Remember, life’s not just about saving pennies but also about enjoying the journey and the people along the way.
