Tips on Changing Your Scarcity Mindset – Tom Wheelwright & Michael Easter

The WealthAbility Show #152: Balancing personal development and the growth of our business is key for successful entrepreneurship. Is it possible to have it all, or is it possible to live a more abundant life with less? In this episode, Michael Easter joins Tom in exploring how the scarcity mindset predominantly manifests in our lives in this current society, and how we can shift our focus to an abundance mindset to live a fully meaningful life by focusing on what is most important.

00:00 – Intro
04:45 – What causes people to seek pleasure in times of scarcity?
11:09 – What is the scarcity loop and its three properties?
13:00 – How do you break out of the scarcity loop? Is overregulation or the individual the answer?
19:05 – What are scarcity cues? How are our emotions triggered to buy more?
22:22 – When is “enough” enough? What is “gap and the gain”?
27:00 – How do you evaluate within yourself that it’s time to change your own mindset? Are you “addicted” to the accumulation of wealth?
32:40 – 3 Steps to Get to an Abundance Mindset

Looking for more on Michael Easter?
Books: “Scarcity Brain” & “The Comfort Crisis”

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DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.

[petitemmanuel]

Wow!!! Fist To Comment!! Awesomeness Teachers Here!! Thank Tom 'N All Your Team Members..

[dorianjungi]

so interesting. Thanks very much for your time

[KyMalveaux]

Thanks Tom & Michael! Great timing and sure needed that reminder.

[mianyx]

Wow much needed topic for me. Immediately added his books to top my reading list 💖

[florianewu]

Agreed! So wonderful to be able to name what I am doing. 🤓
I mostly “choose” to be a content Creator rather than a social media consumer, etc. Ty.

[tcmalloy]

Scarcity is caused by not having enough problems. The answer is to give the individual more problems so there is no scarcity of problems and he can have more. Any scarcity of money, food, relationships, etc. is handled by having the person invent more problems he could have with money, food, relationships, etc. Then he becomes cause over the problem and there is no scarcity.

[ericjames]

The bridge analogy isn't some epiphany. There's a reason people in the real world don't remove resources from a partially completed project. It's because those resources would generally have to go into the trash if removed. It isn't that taking resources off a project is some brilliant new idea.

[ScottAnders]

I thoroughly enjoyed this talk! Sums up years and years of learning for me, and, I'm sure, many others.

[AK.]

Tom it's wrong to keeo perpetuating this ignorance about what people did with their pandemic money. Also when you tell people they cannot work you have an obligation to pay them. Blame your governments over reaction not an overworked citizen who was starved for a break!