How FIRE is Helping This Mom Empower Black Families to Build Wealth | Real Moms Real Money | Parents

July 10, 2023 Pharaoh

Kiersten Saunders, co-founder of Rich & Regular, didn’t always have the best money habits. In fact, her first money conversation with her husband was actually an argument. At the time, Saunders was a spender with considerable consumer debt, whereas her husband was debt-free. Their conversation was a turning point for Saunders, who was left inspired to begin her debt-payoff journey in 2013. When the couple married in 2015, they decided to embark on a new chapter in their financial journey and follow the Financial Independence, Retire Early (FIRE) movement. To hit their initial FIRE target of $1.2 million, the couple planned to invest 67% of their monthly income, pay off their mortgage, and cut expenses across housing, food, and transportation. In 2017, Saunders gave birth to her son, Beau. Motherhood not only fueled Saunders’s motivation to retire early, but also turned her focus to generating multiple streams of income. When the couple paid off $200,000 of debt in September 2017, they decided to tell the world their story and started the blog, Rich & Regular, to inspire better conversations around money. In 2019, Saunders’ husband left his job to scale their business, and by February 2020, Saunders left her job to join the team full-time. Now as entrepreneurs, the Saunders are on a mission to create more Black millionaires and empower Black families to build multi-generational wealth.

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