How to Spot Scarcity Mindset in Your Decision Making and Transform It to Abundance

Redefining Wealth with Patrice Washington

Hey Purpose Chasers, welcome to today's episode! We’re diving into something really important today: the scarcity mindset. This is what makes us feel like we constantly need to do more to secure our future, always worrying there won’t be enough. If you've ever thought something was too good to be true, you might be dealing with a scarcity mindset. We’re going to talk about how to spot it in your daily life and decisions and, more importantly, how to transform it into an abundance mindset.

I’ve been working closely with a lot of women in one-on-one mentorship sessions, and let me tell you, a scarcity mindset is a common struggle, no matter the income level. It’s not just about money—it can affect how we see time and opportunities too. Even if you’re earning well, this mindset can creep in. I know from personal experience that despite all the income, coaching, and personal growth I’ve achieved, I still sometimes fall into moments of scarcity. So, trust me, this episode is for everyone.

Scarcity mindset can be really subtle. It’s not just about being afraid of not having enough money; it can make you feel like there’s never enough time or opportunities. This mindset can stop you from showing up authentically and powerfully in every aspect of your life. In this episode, we’ll be taking a look at each pillar and the symptoms of a scarcity mindset in each. And if you are experiencing these signs in one pillar, odds are you’re experiencing them in others, too.

Be sure to listen to the end for an exercise that you can do right now to really assess how your mindset could mean you are living in scarcity.

Show Notes:

[7:46] - A scarcity mindset shows up in the FIT Pillar as negative self-talk and as neglecting self care.

[11:06] - In the PEOPLE Pillar, a scarcity mindset shows up often as comparing yourself to others.

[12:29] - If you lean into the scarcity mindset, you won’t show up authentically, consistently, and powerfully.

[16:54] - Hoarding is one of the ways scarcity mindset shows up in the SPACE Pillar.

[18:59] - A fear of missing out is a sign in the FAITH Pillar.

[20:28] - In the WORK Pillar, the evidence is in overworking and perfectionism.

[24:01] - There are a lot of signs of scarcity mindset in the MONEY Pillar.

[26:33] - Where might you be showing up in scarcity?

Links and Resources:

• Work with Patrice 1:1
• Redefining Wealth App
• The Institute of Redefining Wealth
• Patrice Washington on Instagram
• Redefining Wealth Live