Have you ever felt like you’re on a financial hamster wheel, running faster and faster but getting nowhere? You’re not alone. In this week’s episode of INHABIT, I sat down with the incredible Madison Gammons, a money and mindset coach who’s crushing it in the world of personal finance. We dove deep into the journey of building wealth, from tackling debt to achieving financial freedom. This journey can be aptly described as building wealth: from debt reduction to financial freedom.

Madison’s story is nothing short of inspiring. As a first-generation wealth builder, she’s paid off a whopping $70,000 in debt and built a net worth of $300,000 through savvy investing in stocks and real estate. But here’s the kicker – she did it all without coming from money. As Madison puts it, “Just because you didn’t come from wealth, doesn’t mean wealth can’t come from you.” Mic drop, anyone?

Let’s break down some of the game-changing insights Madison shared:

Debt Reduction: The First Step to Building Wealth

Madison emphasizes that not all debt is created equal. She recommends listing out all your debts and tackling the highest interest rates first – usually those pesky credit cards. But here’s a perspective shift that blew my mind: instead of viewing debt payoff as a burden, reframe it as building your net worth. Every dollar you pay off is a step closer to the black. This is the initial phase of building wealth.

The Power of Delayed Gratification

In our Amazon Prime world, we’ve lost touch with the concept of waiting. But as Madison points out, delayed gratification is the secret sauce to building wealth. It’s not about depriving yourself, but about aligning your spending with your values and long-term goals. Want to feel rich now or build wealth for the future? The choice is yours. However, building wealth from debt reduction to financial freedom requires both strategic and mindful financial decisions.

Mindset Matters: Rewiring Your Money Beliefs

One of Madison’s superpowers is helping people reprogram their subconscious beliefs about money. She shared some powerful techniques, including hypnosis (no, not the quacking-like-a-chicken kind) and EFT tapping. These tools can help you shift from a scarcity mindset to one of abundance and possibility.

Creating an Aligned Spending Plan

Forget the dreaded B-word (budget). Madison introduces the concept of an “aligned spending plan.” It’s not about restriction, but about ensuring your money aligns with your values and goals. It’s a total game-changer in how you view and manage your finances.

The Rich vs. Wealthy Paradigm

Here’s a paradigm shift that’ll rock your world: focus on growing your net worth, not just your income. As Madison explains, “Rich people make a lot of money but spend a lot of money. Wealthy people focus on building assets and net worth.” It’s not about the six-figure salary; it’s about what you keep and grow over time. This paradigm is crucial in understanding building wealth: from debt reduction to financial freedom.

Building wealth isn’t just about crunching numbers—it’s a holistic journey that involves mindset work, strategic planning, and consistent action. Madison’s approach combines the tactical with the spiritual, creating a powerful formula for financial transformation.

Ready to take control of your financial future? Check out Madison’s podcast, Busy Getting Better, for more money wisdom, or consider working with her one-on-one to create your personalized wealth-building roadmap.

Remember, your financial journey is unique to you. As Madison says, “Personal finance is personal.” So, take these insights, make them your own, and start building the wealth you deserve. Your future self will thank you.

Listen to the Episode

You can listen on Apple Podcasts, or on Spotify below.

Now, I’d love to hear from you! What’s your biggest takeaway from this episode? Share in the comments below, and let’s keep the conversation going!