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CEO, Mom, and First Millionaire in Her Family Keeps Frugal Principles at 41

CEO Rachel Rodgers shares frugal insights on time, family vacations, and casual wear.
Cover Image Source: Rachel Rodgers | CNBC
Cover Image Source: Rachel Rodgers | CNBC

Rachel Rodgers is a 41-year-old mother of four, CEO, and founder of Hello Seven. With a mission close to her heart, she is dedicated to teaching historically excluded groups how to break free from the cycle of financial stress and build generational wealth. The visionary author of "We Should All Be Millionaires: A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic Power," Rodgers has become the first millionaire in her family. 

Instagram | Rachel Rodgers
Image Source: Instagram | @rachrodgersesq

From practicing law to establishing a seven-figure coaching business, Rodgers has mastered intentional living. "Growing up, no matter how hard my parents worked, it would take just one unexpected medical bill or car repair to wipe out our savings. Teetering on the edge of poverty was a scary way to live, so when I became a parent, I was determined to end the cycle," she recalls. 

With her busy schedule as a CEO and mother, Rodgers recognizes the importance of time. Being intentional about how she spends it has become a cornerstone of her rich lifestyle. Saying no to the majority of requests, she evaluates each opportunity based on its potential impact on her finances, energy, time, or joy. On her calendar, only those activities aligning with her personal and professional mission make the cut.

Image Source: Outspoken Agency
Image Source: Outspoken Agency

While the 41-year-old acknowledges the allure of luxury, she has discovered that a higher price tag doesn't always guarantee a more enjoyable experience. Drawing from a past vacation experience in Hawaii, she says, "So a few days in, we left the resort, drove an hour south, and visited a farmers’ market. We experienced Hawaii in a completely different way, and it was easily my favorite day."

This year, she chose to go on a whale-watching family trip worth $2,500, preferring the simplicity of staying in a tent on the beach. "I could afford something more expensive, but I know the memories we’ll have during this trip will be priceless," she states. 

Image Source: Instagram | @rachrodgersesq

In the business world, Rodgers knows the importance of presenting herself with style and confidence. However, when it comes to casual wear at home, she maintains a frugal approach. Even with a substantial bank account, the mother of four cherishes the comfort of inexpensive, well-worn jeans and t-shirts. "Give me a day where I can put on a pair of sweatpants, have some warm cookies, and watch an episode of “Virgin River” or “Bridgerton” on Netflix, and I’m in heaven," she says.

She openly admits to her love for cozy sweats from Target, finding joy in the simplicity of a matching set on sale. Despite having the means to purchase luxury merchandise, Rodgers values the idea that a million-dollar moment doesn't have to come with a hefty price tag.

Rodgers is a remarkable example of achieving financial prosperity while maintaining a frugal lifestyle. Her journey is a testament to resilience, determination, and the transformative power of intentional financial decisions. Through her experiences, she encourages individuals to break free from the constraints of financial instability, fostering a mindset that empowers them to secure a more prosperous and stable future for themselves and their families.