150: You Make Good Money, So Why Aren’t You Further Ahead? The 5 Areas You Must Master
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
28 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. Hello, everyone. Welcome back to the podcast. So if you've been following along for a while, then you know that this is episode number 150 of the Becoming the Wealthy You podcast. And I'm just so excited to say that. When I first started recording, I knew that I was all in, I knew that I was committed, but wow, I can't believe I'm 150 episodes in and I do not plan to stop any time soon.
So with that, if you haven't had a chance to give the podcast a review, please head over to Apple or Spotify, wherever you listen and give it a review. I would love to hear from you. Reviews actually help the show rank higher. in places like Apple so that more people can see it. And so if you've been listening for a long time or for a short time and you're getting value out of it, I would absolutely love it if you will write a review and let me know what you think of the show so that more people can see it and so that I can hear from you all.
Why are high-earning women still not building wealth despite good income?
Sometimes I feel like I'm just talking into a microphone and it's always amazing when I get emails from you all, when I read the reviews, when you sign up for a consultation and I'm actually able to meet you in person. Those things really, really matter to me because it shows me that I'm not just speaking into a microphone. I am talking to real people. who are having real challenges building wealth, even though they make up money. And it just lights me up to know that this message is resonating and that it is really helping you. So again, I'll ask if you are liking the podcast, if it has helped you at all, please review it and also share it with your friends, with your family, with your coworkers, so that more people can learn about the show.
Now, if you've been following along for the last few weeks, then you know that we've been walking through each pillar of my do both method, which is the framework I use to help my private coaching clients build wealth and enjoy life at the same time. Now, if you've missed the earlier episodes, I encourage you to go back and listen to episodes 146 through 149 after you listen to this one. That's where I covered the first three pillars, which are all about... the importance of having a vision for what you want your life to look like, really getting clear on what you actually want and desire. And then we looked into values-based spending, why it's so important to know what's important to you so that you can spend on things that matter and stop spending on things that don't.
And then last week, which was episode 149, we dove into emotional spending. which is all about emotional money management and how they all work together to change the way you handle your money. Now, today we're talking about the fourth pillar, which is mastering what I call the five core areas of money. And those are income, spending, debt, saving, and investing. Now here's the truth. Most of you, most of the women that I work with have one two, or maybe even three of these areas working for you. And the rest though are leaking. That's why I like to use the analogy of a wealth building bucket, right? So imagine your finances as a big bucket. For most women I work with, the income hole is sealed really, really tight.
The money is coming in. You have figured out how to make money either in your career or your business. That is not your issue. For some people, income is an issue, but not the women I work with. The women I work with make good money, but they're not building wealth, okay? Now, there are other leaks though in other areas, either in the savings area, the spending area, the debt area, or the investing area. So no matter how much money you make, right?
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–1:45
2
Why are high-earning women still not building wealth despite good income?
1:45–14:01
3
What is the 'Do Both' framework and which pillars have been covered so far?
14:01–19:12
4
How do the five core areas of money (income, spending, debt, saving, investing) form a 'wealth bucket'?
19:12–28:32
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