Declutter Your Finances: Breaking Free from the Debt Cycle Without Budgeting Burnout with Germaine Foley (Ep 243)

About the episode

In this episode, Deanna discusses the keys to financial freedom with Germaine Foley, a financial expert who transformed her life by overcoming $200K in debt. They dive into the power of mindset, the flaws of traditional budgeting, and Germaine’s 'Do Both Method' for building wealth without sacrifice. Tune in to learn practical strategies, including her Three-Bucket Money Management System, to take control of your finances while still enjoying life.

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In this episode of the Wannabe Clutter Free podcast, the host, Deanna Yates, interviews financial expert Germaine Foley, who shares her inspiring journey from $200K in debt to financial freedom. Germaine reveals why traditional budgeting often fails, especially for high earners, and introduces her 'Do Both Method'—a practical approach to managing money without sacrificing joy. She also dives into the psychology behind emotional spending, how to break free from debt cycles, and the importance of mindset in achieving lasting financial success.

Germaine also walks us through her Three-Bucket Money Management System, a simple yet effective strategy for balancing spending, saving, and investing. Whether you’re struggling with credit card debt, looking for smarter ways to manage your finances, or simply want to feel more in control of your money, this episode is packed with actionable insights. Tune in to discover how you can shift your financial habits, build lasting wealth, and enjoy the freedom you deserve!

Key Takeaways:

1. The biggest mistakes people make when trying to budget

2. How to manage money without feeling restricted

3. The Three-Bucket Money Management System for financial balance

4. How to shift your mindset to break free from debt cycles

5. Practical strategies to build wealth while still enjoying life

About Germaine Foley:

Germaine Foley is a Certified Life and Money Coach for women who make good money but aren't building wealth. She helps them take control of their finances and build wealth without losing the freedom to travel &/or buy nice things.

Germaine came to this work because she found herself in over $200k worth of debt and with very little savings even though she had a really good income. She figured out how to build wealth AND enjoy life at the same time and now teaches others how to do the same.

Time Stamps:

00:00 Introduction and Welcome

00:33 Germaine's Financial Journey

03:50 The Turning Point

05:12 The Do Both Method

05:54 Challenges with Traditional Budgeting

11:53 Emotional Spending and Its Impact

16:18 The Psychology Behind Credit Card Debt

18:56 Awareness and Commitment to Financial Change

19:37 Using Credit Cards Wisely

22:15 Three Bucket Money Management System

25:35 Mindset and Financial Freedom

27:34 Practical Advice for Financial Management

29:04 Final Thoughts and Resources

30:30 Rapid Fire Questions

Music: Fresh Lift by Shane Ivers - https://www.silvermansound.com

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About Deanna Yates

Based in San Diego, CA, Deanna helps high-achieving moms clear the clutter from their homes and lives.

Through coaching, courses, summits, and her top-ranked Wannabe Clutter Free podcast, she supports modern women in building organized, peaceful homes where they can thrive.

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