What Is Abundance?

The concept of abundance is one that many of us struggle to define. What does true abundance mean? In this post, I’ll try to shed light on this idea.

Defining Abundance

Is abundance about having everything we desire? Is it being able to buy anything that catches our eye? Or is it simply having lots of money?

 I believe abundance is none of these. To me, abundance means not yearning for more in any area of our lives.

Take work, for example. I feel a sense of abundance in this area. I have a good position, a private office, and a comfortable car. Sure, there could always be better perks if we dig into the details. But I don’t feel a strong desire for anything else in this regard. I feel abundant. Or consider my home. I live in an average-sized house in a pleasant neighborhood. A terrace would be great, and I wouldn’t say no to more rooms or a larger living space. But I don’t actively wish for these things. I feel abundant in this aspect as well. Socially, I feel I have enough close friends. My sense of abundance is strong in this area too.

The Trap of Comparison

There’s no end to wanting more money or constantly buying things. Unless you’re Elon Musk or Warren Buffett, there will always be people wealthier than you and with more possessions. If you need guidance on this, I highly recommend Morgan Housel’s book The Psychology of Money. The author provides excellent examples about the concept of comparison:

“The ceiling of social comparison is so high that virtually no one will ever hit it. Which means it’s a battle that can never be won, or that the only way to win is to not fight to begin with—to accept that you might have enough, even if it’s less than those around you.”

This means that as long as what we have feels sufficient, we are living in abundance. But when we compare, we enter an endless spiral where “enough” is never enough.

To escape this, we must stop comparing ourselves to others. As long as we envy others’ possessions, we’ll never understand what abundance truly means. There will always be someone wearing a better watch, driving a more expensive car, or living in a fancier house. Knowing your personal “enough” and not desiring more can lead you to a life filled with abundance.

Here’s an interesting side note: we tend to compare ourselves to those ahead of us, never those who are less fortunate. This isn’t to suggest we should. I believe all comparisons are flawed; I just find this tendency intriguing.

The Cycle of Outdated and New

There’s also the issue of things losing their luster. We love our new possessions initially, but soon, they stop giving us the same joy. What happens next? We feel an irresistible urge to buy newer ones—phones with features we’ll never use, cars bigger than we need, trendy clothes that quickly go out of style.

Living in a consumer-driven society, appreciating what we already have and resisting the lure of the new requires serious effort. I’ve developed a few personal tactics for this. For instance, I choose classic, simple clothing over trendy items, so I can wear them for years. If I were to buy a car, I’d go for the highest spec of a mid-range brand, ensuring long-term comfort. These choices extend the lifespan of my purchases and help me resist unnecessary upgrades.

The Personal Meaning of Abundance

Even though this post is titled “What Is Abundance?” I don’t think I can provide a definitive answer. Instead, I’ll share what it means to me and reflect on what gives me a sense of abundance.

Many people think money guarantees a good life, but most have no clear idea of what that “good life” entails. This lack of clarity leads to aimlessly chasing more money and spending it on “better” things without ever feeling fulfilled.

For me, abundance is about having enough of what brings meaning to our lives. But first, we need to identify what that is. It varies widely: helping animals, growing rare plants, cooking, or listening to music on a premium sound system. These choices are deeply personal, and there’s no right or wrong.

For me, spending time with family and friends is a priority. That requires having plenty of free time. Do I have it? Not really. As a full-time office worker, I’m constrained by laws and company policies regarding time off. In my current situation, I can’t claim to have an abundance of time.

Materially, I think I have a healthy relationship with things. I don’t live a luxurious life, though this definition is subjective. For example, I enjoy summer trips to the southern coast. I don’t splurge on extravagant beach clubs; instead, I find joy in simple pleasures—a modest meal, a day at the public beach, and some wine or beer. This simplicity makes me feel rich in this area of life.

Financial Worries

While I feel abundant, I’m not without worries. The idea of raising a child and the associated costs terrify me. Would I be able to provide the same life my parents gave me? These fears are deeply tied to money. John Armstrong’s book How to Worry Less About Money suggests addressing financial concerns by answering four questions:

• Why do I need money and why is it important to me?
• How much money do I need for this purpose?
• What’s the best way for me to acquire this amount?
• What economic responsibilities do I have toward others?

These questions play a significant role in helping us feel that we are living in abundance. The feeling of needing money and the sense of living in abundance are essentially two sides of the same coin.

The question of why we need money is a profound one. If your answer revolves around owning things, you’ll end up in an endless spiral because there will always be more expensive options. In the same book (How to Worry Less About Money), the author explains that financial issues often stem from our social anxieties. For example, looking at my perfectly functional car and wanting to replace it is a worry rooted in my social relationships. I would argue that these types of concerns never truly end. Similarly, the fear of struggling with my child’s school expenses is also a form of social pressure. If there’s a reason not to send them to the local public school, it’s likely because others are sending their children to private schools.

If you can answer, “I am satisfied with my current life and only need enough money to maintain my current standard of living,” then you are closer to answering the second question. The phrase “current standard” can be shaped to your preferences. This might include dining at a nice restaurant twice a week, enjoying good wine, smoking a cigar once a week, and taking a vacation every summer. If you are content with your current level, you have already achieved abundance. To determine how much money you need, you can calculate your annual expenses and adjust them for inflation. The second question involves more budgeting and calculations. That’s something to delve into at another time. But let’s assume you’ve arrived at a figure.

The third question, for me, is a balancing act. If I can cut expenses and gain more personal time, I’ll always choose that route, even if it means giving up some luxuries. For example, would I prefer working 10 hours a day for 5 units of income, or 5 hours a day for 3 units? My answer will always be to keep the hours low.

The fourth question, for me, revolves around family and, more specifically, child-related responsibilities. For others, it might also include obligations to care for their parents. These responsibilities must be factored into the equation.

Understanding the answers to these questions can also clarify whether we’re living in abundance. After all, both the need for money and the feeling of abundance are two sides of the same coin.

Achieving a Sense of Abundance

There’s no one-size-fits-all formula, but here are some steps to explore:

1. Observe your activities and identify what brings you joy.
2. Create a list and start scheduling time for these things.
3. Assess whether enjoying these requires additional spending.
4. Develop a plan to prioritize what makes you happy while sacrificing less meaningful activities.
5. Estimate the resources (time, money, energy) you’ll need to focus on these pursuits.

Abundance is not just about what we have but about how what we have adds meaning to our lives. Instead of acquiring more, let’s focus on choosing what’s truly valuable.

As Naval Ravikant says in The Almanack of Naval Ravikant:

“If you spend your time doing what you love, you’re already rich.” In all circumstances, prioritize having the freedom to control your time.

References:

Housel, M. (2020). The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. Harriman House.

Armstrong, J. (2012). How to Worry Less About Money. The School of Life.

Jorgenson, E. (2020). The Almanack of Naval Ravikant: A Guide to Wealth and Happiness. Self-published.