Hi. We’re Jess and Mel! Over the last few years, we’ve not only embarked our own financial independence journeys, but we’ve also started businesses and left our 9-to-5s (before reaching FI).
I (Mel) am currently on a 1-year sabbatical to test out entrepreneurship and my Coast FI path. I spend about 20 hours/week on my passion of financial coaching. I help individuals and families take control of their finances.
Working 20 hours/week leaves me plenty of time to focus on my core values and hobbies. I get to spend more time with my two young kids, garden, take care of my health, and lend help to my extended family.
I (Jess) quit a full-time, toxic job in 2018. Then, I went on to work part-time in a nonprofit organization for two years while I built my business on the side. In January of 2021, I took the leap to full-time entrepreneurship.
I love being self-employed. I get to wake up without an alarm clock, have a leisurely morning with a hot cup of coffee and my journal, and work on my passion projects whenever I want to. I’ve designed my life around what I value most – health, relationships, creativity, adventure, and energizing work.
Overcoming our scarcity mindsets and building abundance mindsets was key for both of us to make these transitions.
To be clear, it took time and deliberate effort to learn and experiment with strategies to overcome our fears and limiting beliefs along the way.
For example, my spouse and I (Mel) had crafted a 10-year plan to reach financial independence. Along the way, I began to do financial coaching as a side-hustle. This work was deeply energizing to me, so I started considering leaving my 9-to-5 to focus on this.
But… I hesitated.
My initial eagerness for the change took a turn as limiting beliefs arose:
When I (Jess) decided to start my own business and eventually transition to full-time entrepreneurship, my scarcity mindset reared its ugly head. Here were just a few of the thoughts that arose:
The first step to making progress toward either of our goals was to overcome our scarcity mindsets.
Do you feel like many of your thoughts originate from a scarcity mindset?
Does reflecting on a future objective or potential change automatically results in fear, stress, and anxiety? Does it make you worry about what you might lose? Are you afraid that you won’t have enough money, skills, knowledge, or confidence to make your dreams into a reality?
A scarcity mindset can cause you to over-focus too much on short-term solutions and lose sight of your long-term goals and priorities.
Don’t waste any more precious time not working toward your goals because you:
Imagine a life where:
The first step (and most important step) is to overcome your scarcity mindset.
A 3-class series (over 3 weeks) that will help you to overcome your scarcity mindset.
In this 3-class series, we will share our best tools and resources to help you:
Over the course of 3 weeks, you’ll participate in three LIVE group presentation sessions and one Q&A session. You’ll also receive pre-work and reflection materials for each class.
In this 3-class series, you’ll:
To be honest, the cost of a scarcity mindset is hard to quantify. But, I (Jess) will tell you a story about what the “cost” was for me.
In the summer of 2018, I started to experience severe anxiety and panic attacks. It was as if my body said, “You didn’t decide to get yourself out of this stressful, toxic situation, so I’m deciding for you.”
This was the start of a long recovery process. I ended up taking 6 months off of work through a medical leave. I quit the toxic job and went back to work part-time (because 3 days/week was all my mental health could handle).
Over time, things stabilized. I started my business, and I ultimately quit my job to become a full-time entrepreneur.
Almost 3 years later, things are much better. I’ll let you in on a little secret though. Sometimes, I still need a beta-blocker before I can lead a presentation or do a podcast interview.
All of this happened (and happens still) because I had a scarcity mindset.
I didn’t understand my numbers. I didn’t realize that my finances were okay (or even good). I didn’t realize that if I left my job, I’d still be okay. I could have been unemployed for several months (or even a year), and I’d have been okay. I could have gotten a lower-paying job, and I’d still have been okay.
Instead, I had a constant (and irrational) feeling that I could lose everything.
So, I stayed in a toxic situation that ruined my mental health.
It cost me money (lost wages, doctor and therapist appointment copays, medication, etc.), but most importantly, it cost me my happiness and health for this period of time (with some lingering effects through to today).
If I hadn’t let my scarcity mindset hold me back, my life path could have been very different (and much less painful).
It’s possible that you are experiencing something similar. I hope whatever you are experiencing is less extreme.
Like me, maybe you have stayed in a situation that isn’t serving you for too long.
Or, maybe you have an idea that you’ve been considering for months or even years:
I could make comparisons about how $97 is the cost of two take-out meals or a few minutes of online shopping. But, I won’t.
Because one part of overcoming a scarcity mindset is learning to intentionally spend money on things you value.
If your scarcity mindset it holding you back, choosing to intentionally spend money to invest in yourself (to transform your relationship with money) is a great first step forward.