Does having an ‘Abundance Mentality’ make you rich? Will adopting it mean a total transformation of your life? This video analyzes this.
How’s it going everybody this is beat the bush today i’m gonna talk about the abundance mentality and if you absolutely require this in order to be financially well-off why am i talking about this because i do my research on finance gurus and oftentimes i hear this abundance mentality thing that you should apply this abundance mentality and all of a sudden all
These riches is gonna start coming flowing into your life i feel like this idea someone probably made it up and they play telephone with this and someone just kept on changing the meaning of this and eventually people just go okay just apply this and all of a sudden this is like a magical thing that you can apply to your life and all of a sudden you’re gonna be
That much more well-off later on just applying this single idea to your life in reality just like a lot of different finance concept it’s not so simple you really need to know the background of it why you need to apply something like this and if you just blindly follow this it may not work at all for you now you see on the thumbnail that certain people apply the
Abundance mentality and there is a certain group of people that are rich and well-off however you can guarantee yourself that not every single rich and well-off people is applying abundance mentality now let’s just take a reasonable example here let’s say you’re broke and you have a scarcity mindset all of a sudden you watch this video that goes oh you should apply
The abundance mentality you go and follow this you apply to abundance mentality blindly and you just go oh they didn’t money oh everyone needs money okay let me just give it all away you give away everything you have indiscriminately having an abundance mentality you have an abundance mentality and yet you end up broke and then you wonder what went wrong you could
Argue that no when you give everything away like that it’s just sort of like karma if you give away stuff and you help other people is just gonna turn around and come back to you in many folds so this is not very provable although i do believe that if you do some random experiment where you have people give away you know money certainly some people is gonna have
More come back than they give however there’s also gonna be a certain amount of people that after they give away their money they’re gonna get nothing back at all or maybe you know they might lose even more so this leads me to think that maybe this idea of abundance mentality is sort of rooted in religion or you know / karma and at the same time i watch some ted
Talks videos and then they do talk about research where if people are asked to give away you know their $100 bill rather than spend it on themselves they end up happier sometime after when they come back from the experiment this sort of thing is sort of related to luck and i’ve made a video about this in short this video is about when you apply yourself when you
Believe yourself to be lucky you’re going to apply yourself more in situations where it requires a certain chance and when you apply yourself more that requires chance you have more chances of winning therefore you somehow see yourself winning more and more it’s sort of like some people are lucky this is hard to prove but i myself feel very lucky and then i try
Many many times and i feel like i win more share of winnings than a lot of other people no i’m not saying that you should not have an abundance mentality i’m just saying that doing so in itself may not cause you to be wealthy take investing intelligently as a money-making endeavor in a scarcity mindset let’s say you only have $1,000 to spend and you’re trying to
Make as much money as possible from this $1,000 you apply this $1,000 and you use it in the most promising endeavors now this is not an abundance mentality because you know you have $1,000 to spend and you know you don’t look to it and saying oh i’m gonna have $10,000 later on so i’m just gonna do whatever i want with this $1,000 no you think about this and then go
Okay what’s the best way to use it so let’s say you go buy some products to resale or something and then you stock up on this $1,000 worth of products because you deem it to be a profitable endeavor and then you go and resell it and let’s say you make 100% profit on that and you come back with $2,000 starting from $1,000 now is there any kind of abundance mentality
Here is there an scarcity mindset over here so when you look at this to me it’s sort of decoupled there is a little bit of overlap here but to me an abundance mentality is not absolutely required to make a profit now i want to say on this channel i make a lot of videos about saving money and people keep on complaining that oh my gosh you have scarcity mindset i
Feel like all these comments are rooted in watching other videos saying oh you should apply an abundance mentality in reality to me all this money saving activity is sort of like a combination of everything so it’s like making money on two different fronts here yeah you can have a super abundance mentality i think this is taking out of context where you go okay i
Have a lot of money i’m gonna go buy the newest phone if i do it it’s just gonna come back it to me in multiple folds is this provable in terms of maybe if you get a brand new phone you have access to more apps or something you can you know do more business with that particular phone i think it’s very different for every single person because you could go and buy
An expensive phone but the return on investment here is very different from person to person if the person is able to make use of that phone then perhaps they can make multiples amount let’s say it’s $1,000 maybe they can make $10,000 $50,000 from using that phone this is compared to using a cheaper phone maybe there are social perceptions with having a nice
Phone you know you show it off to people so that people will be impressed or whatnot given this to someone who does not show off as much tends to leave their phone in their pocket in social situations and maybe only play games or something you get very little usage out of it then that same investment is not going to make them $10,000 $50,000 so it really depends
On the person if you are in a giving mood you tend to help certain people out certain charities out in terms of monetary ways or maybe with your time will this come back to you in multiple fold i don’t know it’s hard to prove and i feel like it’s certainly not going to be a one-for-one thing sometimes when you give maybe nothing will come back sometimes when you
Give maybe it’ll come back in 10 folds it’s not like a one-for-one thing in it’s hard to determine how much more that it’s gonna come back like i said in various religions and people who believe in karma this comes back in multiple folds it’s hard to prove and i don’t think there’s actually any scientific studies done on this and i think you know it might be worth
A shot to try to study this i hope you enjoyed this way of thinking and i’m not really detracting people from having an abundance mindset i just feel like just tunnel vision of just using this two-word phrase and just go okay you can apply this and then you’re gonna be rich i think doing that in itself is incorrect if you actually want to be more wealthy you got
To apply a whole bunch of different things you got to be smart about it you got to know how to invest you got to know how to turn a profit a lot of different things including not spending beyond your means having a low burn rate a bunch of other things which is not oversimplification into this condensed two-word phrase if you’re interested supporting this channel
I’ll have a t-shirt sale down in a video description below where it has a honey badger and it says infinite ocation because if you smartly applied as abundance mentality with a whole bunch of other ideas together with it then you’re gonna head towards infinity ssin which is my phrase for early retirement if you’re interested in getting more of my videos push that
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Transcribed from video
Will Abundance Mentality Make You Rich By BeatTheBush
