Scarcity – A great read

scarcityThe book Scarcity – Why Having Too Little Means So Much – has great insight that helps explain why poor tend to stay poor, why the busy tend to stay busy, why people worried about their finances remain worried about their finances, why the lonely have trouble making friends, and more.

The authors’ definition: “By scarcity, we mean having less than you feel you need.” You can see that this can fit into many, many different aspects of your life. So how do you get more time for example? Everyone has the same 24 hours a day. How do you use your money better?

Part of the problem is that focusing a lot of anything, uses up “bandwidth,” or your energy to focus on other things in life. The authors describe “tunneling” … commonly known as tunnel vision … where all you see is what you focus on. Problem is, by doing that, you don’t see beyond the focus to spot possible solutions which are most often outside the box you’re focusing on.

When you are fatigued, it is hard to ignore impulses like eating more or spending too much. You lose self-control. Once you understand what is happening, it becomes a bit easier to understand how to get some control back in your life. Say no to extra demands on your time until you have time to really do them. Set up little habits that reinforce what you know you really want to have happen. Changes may be hard … there’s a process to make that easier. You can be happier for your efforts … and that leads to more abundance – bit by bit – of what you once found scarce. You can get your willpower back.

These concepts would work for your finances as well as any other area in your life you feel you have scarcity in. With just a little insight and understanding, you gain just a bit more control.

, , ,

Trackbacks/Pingbacks

  1. How to change from Spender to Saver, then Investor. | Better Financial Education Blog - December 4, 2017

    […] – it can be stressful. Money is scarce. The first order of business is to recognize how to get out of the scarcity mindset. The first rung is to get to the saving step and start saving. Just a little at first – and […]

Leave a Reply