ChooseFI avatar

Dexa/ChooseFI

Learn more
Published Feb 8, 2023

298 | Habits For Wealth Building | Rich and Regular

Join Julien and Kiersten Saunders as they delve into wealth-building strategies through creative income channels, effective money management, and transformative financial habits, while underscoring the power of community and personal growth on the path to financial independence.
Episode Highlights
ChooseFI logo

Topics covered

Popular Clips

Questions from this episode

Episode Highlights

  • Mindsets

    Julien and Kiersten Saunders discuss the evolution of their financial mindsets since adopting FIRE principles. Julien notes that financial habits become muscle memory over time, making budgeting and saving second nature 1. Kiersten adds that they practice empathy by considering different perspectives on financial decisions, which fosters compassion and understanding 2. This approach helps them stay non-judgmental and supportive of others' financial journeys.

    Be open to the fact that you might evolve. Because it becomes muscle memory after a while. You don't have to do it anymore. You know it.

    ---

    Their mindset shift has allowed them to enjoy the creativity involved in finding new ways to save money.

       

    Challenges

    Julien and Kiersten share personal anecdotes about overcoming financial challenges on their path to financial independence. Julien recalls his initial judgmental attitude towards spending, which stemmed from his upbringing in a poor neighborhood 3. He learned that leading with shame can be a barrier to intimacy and influence. Kiersten emphasizes the importance of investing in oneself, even if it means spending money on courses or books 4. She believes that such investments can significantly enhance one's ability to earn more income.

    I have never made an investment in myself that has not paid off handsomely, ever.

    ---

    Their experiences highlight the balance between frugality and the necessity of personal growth.

       

    Transitions

    The Saunders discuss their transition from traditional employment to entrepreneurship. Julien describes his frustration with being underpaid despite increasing responsibilities, which led him to explore alternative income sources like real estate and digital entrepreneurship 5. He found that having multiple income streams provided greater financial security and control. Kiersten adds that they built a financial runway to support their transition, emphasizing the importance of having a safety net while pursuing entrepreneurial ventures 6.

    There are other ways to earn an income. And so that's what led me to at that point.

    ---

    Their journey underscores the value of diversifying income and taking calculated risks.

Related Episodes