152. You Can’t Out-Earn the Way You See Yourself: The Power of Identity in Building Wealth.
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
21 min
1 speaker
7 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 to the final episode in my Do Both Method series. Over the past few weeks, we've walked through the five visible pillars that make up my Do Both framework. Remember... You can do both. It's not just a tagline. For years, I've talked about the fact that you can do both. You can build wealth and enjoy life at the same time. And over the last several weeks, I've actually walked you through how it's done when I work with my clients privately, how they implement the do both method into their lives and what the do both method really is all about.
So here are the five pillars that we've walked through. And if you haven't been able to listen to these episodes, I highly recommend that after you listen to this one, you go back and listen to episode 146 through 150. 146 was a high level overview of the entire framework. And then we went on to... The next episode, which was about having a vision for your life. So many of us, especially once we hit a certain age, we stop dreaming. We stop desiring and we continue to live the same mediocre life over and over again. And it starts to feel very unfulfilling. And so in that episode, I invited you to start dreaming again, to really think about what you want, knowing that your life, the future that you want is possible, but it's up to you to decide what you want it to be and to start making choices and decisions that will allow you to create it.
Then we went on to values-based spending, which is all about spending on what matters to you and stop spending on what doesn't. So many of us are spending on any and everything and it's preventing us from building wealth because it's depleting all of our money. Then we talked about emotional money management. This is so important, you all, because a lot of us spend to make ourselves feel good. We spend when we're bored, when we're sad, when we're frustrated, when we've had a bad day at work. But here's the thing. It's not your money's job to make you feel better. That's an inside job. That's your job. And when you're constantly relying on something outside of you to alter your emotions, especially if it's money, you're never going to be able to build wealth.
I Then we dove into the five core areas of money that everyone must master if they want to build wealth. That was income, spending, debt, saving, and investing. If you want to build wealth, you've got to get good at all five of those areas.
What is the Do Both Method overview and why wrap up the series now?
And then the final part was all about creating a simple system for your money that works in the background on autopilot that does not require... you to feel good in order for it to happen. That doesn't rely on willpower and motivation. These are the pillars that my clients implement when I work with them in private coaching. Listen, if you get these things right, what I just said, then there's no way you won't be able to build wealth. And I'm going to prove that to you through today's episode, because we're going to talk about the invisible element that holds the entire framework together, and that's identity. Some of you are ready to change. You are ready to work with a coach. You're ready for support.
You're ready for guidance and you are ready for transformation. You are ready to stop playing around and to start doing the thing. And if that is you, you are invited to book a complimentary wealth building strategy session with me. It's a consultation that is all about you looking at where you are, we'll do this together, where you want to go financially, and what's standing in the way. I bet it's one of the pillars that I just talked about. And I know for sure, it's also this invisible element that we're going to talk about today, which is identity.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–3:28
2
What is the Do Both Method overview and why wrap up the series now?
3:28–7:15
3
What are the five visible pillars of the Do Both framework?
7:15–12:20
4
How does values-based spending prevent overspending and build wealth?
12:20–13:27
5
Why is emotional money management critical to stopping impulse spending?
13:27–16:01
6
Which five core money areas must you master to build lasting wealth?
16:01–19:42
7
What is the invisible element of identity and how does self-concept affect money habits?
19:42–21:22
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
184. Why Money Keeps Coming In and Going Right Back Out