How to have a good abundance mentality? In the world of personal and business finances, and linking them in this article with personal development and everything you want to build, from a business to taking a course, buying new technology and accessing a new standard of living, it is essential to understand the difference between terms that are often confused: price and value, expensive and expensive, expense and investment.
These differences are not merely semantic; They contain different philosophies and approaches to how we manage our resources.
At the same time, they are loaded with subconscious emotional meaning, separated from the mind where the feelings are generated that later, with the conscious mind, we will execute in reality with actions and decisions.
Furthermore, as The internal and external language we use determines reality In the world we live in, it is very likely that if you do not apply these terminologies appropriately, you may be greatly restricting your potential for success and achievement.
Basic distinctions of the abundance mentality
So that you can focus on how to expand your mindset from a higher development of consciousness regarding abundance in any aspect of your life, including moneyhere are these distinctions:
1) Price vs. Worth
Let's start with something as everyday as the difference between Price and Value of anything.
- Price It is the amount of money you pay for a product or service. It is a fixed number, visible on a label, estimate or invoice.
- Worth, on the other hand, represents the importance, usefulness or benefit that an individual attributes to that product or service. It's what the product means to you.
Seen another way: The price is what you pay, the value is what you receive as a benefit from what you pay. While the price is quantitative (a specific figure is “how much” you have paid), the value is qualitative (an experience, a result, a utility: it is “how” you give meaning to what you have paid).
A practical example: A leadership course may be priced at $499, although the value perceived and received by a professional who achieves a promotion thanks to the skills acquired in that course is significantly higher.
2) Expensive vs. Expensive
Another classic of distorted mental perceptions, which can reduce your potential for abundance, is the difference between expensive and expensive.
Pay attention, because it is subtle, although very important:
- Expensive It is a relative and subjective term, which depends exclusively on the individual perception of the price of something. It is conditional on whether you have the ability to pay for it, or on the comparison with alternatives. For example, “Expensive, compared to what?”
- Expensive, on the other hand, suggests a high price in absolute terms, regardless of personal perception. In this case, something can be expensive if you view it through the lens of not being able to access it for any reason. It stops being just “expensive”, and becomes “expensive” because it was out of your reach.
One aspect that I can add in costly is that comes from “cost”, which “costs”; That is to say, you have to make a very big effort to achieve it: “It's hard for me,” you might say. Hence, the majority of people without many resources, although they tend to aspire to what is expensive, avoid it at the same time, and cannot even consider visualizing the value that it could contain projected for the future.
Let's look at this example: A luxury watch, one of those large emblematic brands that we all know, can be expensive due to its high price in the market, and not necessarily expensive for someone with the financial capacity to acquire it without difficulty.
3) Spending vs. Investment
Finally, the difference between spending and investing is crucial in financial management and the abundance mindset approach.
- A spent It implies – and is emotionally associated – with an outflow of money without future return, which is consumed quickly, or some type of profitability for the person. In Ibero-American culture, “spending” is associated with waste or something unnecessary.
- A investmentHowever, it implies an expense that can generate benefits in the short, medium or long term. That is why investment is also related to worth of things projected in time.
Again, let's look at this idea for reference: Buying clothes for everyday use is an expense, even if you have to do it; while investing your savings to multiply them, or a professional training course that will improve your professional profile, becomes an investment whose results you will see in the future.
As you have seen, understanding the differences between price and value, expensive and expensive, and expense and investment They are much more than a pure lesson in financial semantics.
Price is a number, but value is an experience; Expensive may be relative, but expensive is a perception; and where some see an expense, others may see an investment opportunity. The key is to develop the ability to evaluate these differences in the context of our own lives and goals.
Abundance vs. Scarcity Mentality
In short, the abundance mentality refers to the belief that there are enough resources and successes to share with others. It is a way of thinking that contrasts with the scarcity mentality, which focuses on limitation,
I invite you to reflect on your latest decisions: Are you spending or investing? Are you paying a fair price for the value you receive? Are you buying because it's expensive, or because it's really worth it and you can afford it? These questions can be the beginning of a path to wiser financial management and a more prosperous future.
Daniel Colombo Facilitator and Master Executive Coach specialized in senior management, professionals and teams; mentor and professional communicator; international speaker; author of 31 books. LinkedIn Top Voice Latin America. ICF certified; Certified Coach and Member of John Maxwell Team.