Scarcity, Confidence & the Psychology of Wealth with Leisa Peterson

S6:E21 Most money problems are not mathematical. They are emotional. Queue Up Episode This week on Small Business Stories, Dr. LL sits down with Leisa Peterson, founder of WealthClinic.com and author of The Mindful Millionaire, to explore how scarcity thinking quietly shapes financial decisions. On a personal note, I was so compelled by what she had to say, I got her book and read it cover to cover. What it showed me is that I was spending out of fear, spending because I was missing something (someone), and was indulging in "retail therapy" to avoid the reality of patterns ingrained in childhood and what is happening to me today. If people don't trust you, they won't follow you. If you don't trust yourself, you won't build wealth. From inflation and fiat currency to inherited shopping patterns and entrepreneurial overconfidence, this episode examines how money stress alters our cognition and identity. 👤 Guest Leisa Peterson Founder, WealthClinic.com Author, The Mindful Millionaire Core Problems Discussed • How macroeconomic instability impacts personal psychology • Emotional spending and inherited money behaviors • The cost of overconfidence and delayed pivots Practical Takeaways • Scarcity narrows mental bandwidth and lowers decision quality • Long-term confidence is built through iterative learning • Conservative strategies can still build significant wealth Timestamps 02:10 Fiat currency and inflation explained 16:57 How scarcity lowers IQ under stress 22:10 The retail therapy pattern 26:35 Surviving trauma and choosing purpose 40:10 Costly entrepreneurial lessons Who This Episode Is For • Entrepreneurs under financial pressure • Founders carrying debt from past pivots • Leaders rebuilding confidence after losses Invisible brands don't make money. Invisible money patterns quietly distort decision-making. Season 6 continues decoding the forces that shape how capable entrepreneurs show up.     ✅ Subscribe for weekly conversations on entrepreneurship 🔁 Share this episode with someone who needs to be heard Follow STEERus on social media: YouTube: https://www.youtube.com/@Midlifesuccess Instagram: https://instagram.com/steerus LinkedIn: https://www.linkedin.com/company/steerus Twitter: https://x.com/steerus_io  #finance #investing #wealth #entrepreneur #smallbusiness