An abundance mindsetAn abundance mindset refers to the perspective that there is plenty out there for everybody. This mentality allows us to focus on all the positive things that life has to offer. People with this mindset are generally more grateful, more creative, and happier. The phrase was invented by Stephen Covey in his best selling book, The 7 Habits of Highly Effective People. More refers to the perspective that there is plenty out there for everybody. This mentality allows us to focus on all the positive things that life has to offer. People with this mindset are generally more grateful, more creative, and happier. The phrase was invented by Stephen Covey in his best selling book, The 7 Habits of Highly Effective People.