147. Reignite Your Vision: How Six-Figure Women Can Build Wealth, Stop Overspending, and Create Financial Freedom
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
25 min
1 speaker
5 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 Becoming the Wealthy You podcast. We are in the middle of my do both method series. And today we are talking about the very first pillar, which is vision. Now, if you missed episode number 146, which was released last week, I highly recommend after this episode, you go back and listen, because that is where I gave you the overview of the do both method.
I mentioned that the do both method or you can do both is not just a tagline. It is a complete system. It is a complete framework. And over the next several episodes, I will be walking you through an overview of what they are so that you can know exactly what I am working with my clients on inside of private coaching. And of course, if you want to be one of my private clients, you are invited to become one.
Who is this episode for and what problem does it address?
And And here's what I want you to know. My private coaching is for women who make six figures or close to it. So you may be making six figures, multiple six figures or very close to it in your business or your career. So you've got the income. You might even be maxing out your 401k, maybe investing regularly. And you've got some savings, maybe several thousand or 10K. Maybe you've got that. And on paper, everything looks amazing. It looks great. You may even have a fully funded emergency fund. But here's what's missing. Your spending and your credit card debt might feel a little out of control. It's just a totally different story. You swipe when you're bored. You swipe because you're feeling overwhelmed.
You swipe because it feels like the one thing that's just for you. You're constantly taking care of everyone at work, at home, your family, your team, your clients. And that little moment of shopping gives you a dopamine hit and a rush of comfort. And it's just for you. It's the thing that you can control. And you might be like, okay, I'm doing this for me. I'm doing this because I deserve it. I'm going to treat myself. But then the dopamine fades. The boxes arrive. They're piled up on your porch and you don't even remember what's in them. And maybe you don't even have the energy to open them to see what it is. And that excitement has long gone. So. That is where you are. You've got a lot of things working well for you.
But remember, part of the do both method is conquering or mastering the five core areas of money. So that's going to come in a later episode within the series. But I want to give you a peek at that right now. That's income, spending, debt, savings and investing. So you may have three out of the five that are working well, but if you don't have all five, then you're not gonna build wealth. There's a leaky hole in your money system, right? There's a leaky hole that is preventing you from building wealth. And so if spending and credit card debt are things that you find yourself stuck in, you have two leaky holes in your bucket that are preventing you from actually building wealth, okay? So... This may look like you pay it off with your bonus check.
You rack up the credit card debt, maybe 10K, 20K. And then you like, okay, I got to pay this off. So when you get a bonus, a commission check, or maybe sign a big client, you pay it off. But then you run it right back up again. You may even borrow from your 401k or other investments or use 0% interest transfers to kind of clean it up. And you feel like you did something, right? But guess what?
What is the 'Do Both' method and how does it frame the series?
That is a slippery slope and a really big trap that a lot of women fall into because then they end up in double the debt or sometimes triple the debt. And before you know it, there you are again. It's like, how am I here again? If that is you, you are exactly who I help because you're probably telling yourself that
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–1:32
2
Who is this episode for and what problem does it address?
1:32–4:21
3
What is the 'Do Both' method and how does it frame the series?
4:21–9:08
4
Why are overspending and credit card debt common despite high income?
9:08–14:23
5
What are the five core areas of money that must work together?
14:23–25:27
Speakers
1 identifiedMore from Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
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185. Your Past Money Habits Created Your Current Financial Life
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