126. How to Build Wealth, Even When You’ve Made Money Mistakes in the Past
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
17 min
1 speaker
4 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
You are listening to the Becoming the Wealthy You podcast with Jermaine Foley.
If you're a woman who makes good money in your career or business, but you're not building wealth like you want to, then you're in the right place. In this podcast, you'll learn how to stop overspending, break free from the cycle of debt, save lots of cash, and become the wealthy woman you were born to be. Let's dive in. Well, hello, everyone. Welcome back to the podcast. We are almost at the end of our Skills of Money series. And today's episode is all about one of the most important skills of all. The skill of building wealth. But I'm not coming at it from the usual budgeting, saving, paying off debt, or investing angle. I want to talk about something deeper. The mindset that either keeps you stuck financially or sets you free.
Here it is. Are you future focused or past focused with your money? And before we dive in, I want to say this. If today's conversation hits home for you, And you know it's time to turn your finances around for good. Maybe you're in your 40s or 50s or 30s even. And you're just like, I know that I have to do something different in order to break free from the cycle of debt I'm in, from the cycle of overspending that I'm in, or even the cycle of not saving or investing like you want to. You're just like, it's time. I need help. I've been trying to do it on my own and now I'm ready for support. I'm ready for someone who has expertise to help me figure out why I can't just figure this money thing out. Even though I'm smart, even though I'm successful in my career and in my business, this is just the one area I can figure out and I'm ready to get help with that.
If that is you, I invite you to book a complimentary financial clarity consultation with me. Like I said, it's completely complimentary. And when we're together, it'll be on Zoom. It'll be just me and you. And we'll look at where you are financially. We'll look at your current financial patterns and habits. We'll look at what you really want for your future and the steps that it's going to take for you to get there. And if we both agree that that working together is the best next step to help you to get where you wanna be, then I'll tell you how we can start working together. And you can simply go to germanefoley.com slash consult to book yours. That's germane with a G, foley.com slash consult. OK, so now let's get into our topic for today.
And we're going to start off by talking about why it's so important to stop letting your past define what's possible for you in the future. Most people I talk to try to figure out what's possible for them based on what they've done in the past. They look at how much they've been able to save before, whether they've paid off debt and ran it back up again, or if they've been able to stick to a budget or spending plan, what amount of money they've been able to make in their business or career. They look at those things to determine what's possible for them in the future. But here's the truth. Your current financial reality is just the result of past thinking and and past behaviors. It's not a prediction.
It's not a prophecy. It's just a reflection. So if you look at where you are right now, the amount of debt you have, the amount of savings you have, the amount you have invested in your retirement accounts or brokerage accounts, what you make, all of that is based on past behavior and it's manifesting in your presence today, right? So if you decided years ago that you were going to start saving in your 401k and now you have $100,000 in your 401k, you're experiencing the result of your past thinking and behavior of saying, okay, I'm going to put money away. I'm going to get my match. That was your thought. And then you actually signed up and you're getting that match. And now fast forward to the present, you're experiencing the result of that past thinking and
and those past actions, okay? So whatever you're experiencing right now is literally the manifestation of what you did and thought back in the past.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–5:59
2
How does Jermaine define the difference between past-focused and future-focused money mindsets?
5:59–13:10
3
Why shouldn't you let past financial mistakes predict your future wealth?
13:10–16:11
4
How does current thinking and behavior create your present financial reality?
16:11–17:41
Speakers
1 identifiedMore from Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
189. How to Build Wealth Without Giving Up the Life You Enjoy
188. The Biggest Financial Mistake Women Make After Getting a Raise
187. Making Good Money Isn’t the Same as Building Wealth
186. Why Making More Money Can Still Leave You Feeling Behind
185. Your Past Money Habits Created Your Current Financial Life
184. Why Money Keeps Coming In and Going Right Back Out