There’s a trending "Rich Auntie" movement all over your favorite social media platforms, where women are embracing growing older, living in their definition of luxury and choosing to not have children (in some cases). It's an attitude of self-sufficiency, financial freedom, and extravagance. It’s not just about being wealthy but also living a life of luxury and making sure you are financially secure. Many Black women have been embracing this trend and have been thriving because of it. In this blog, we’ll explore what it means to be a Rich Auntie, and how Black women can embrace this trend, make more money, live a more luxurious life, and save money while doing it.
What is The Rich Auntie?
"Rich Auntie" is a mindset, an attitude, and a lifestyle. It’s about being financially independent, taking control of your finances, and making smart investment decisions. It's not just about having money but also enjoying the fruits of your labor. It’s about living a luxurious life and being unapologetic about it.
The Rich Auntie is often associated with Black women because of the way they’ve been historically treated in society. Black women have had to work harder and longer to get ahead in life, so the idea of being financially independent and living a life of luxury is especially appealing. The Rich Auntie is about breaking down the barriers that have been placed in front of Black women and creating a new narrative.
How to Embrace Your Inner Rich Auntie
Prioritize Financial Well-Being
To learn about budgeting, tracking expenses, and managing your finances effectively, consider searching for personal finance blogs, websites, or YouTube channels. Websites like Mint.com or budgeting apps like YNAB can provide practical tools and guides.
I personally use Rocket Money and I love it because it syncs with all my accounts so it shows me everything in real- time and it's free! I also like how it finds ways to save money- like showing me how much I spend on subscriptions (we know how these TV apps can get out of hand!). It also gives me an idea of my net worth, although that is a premium feature.
Develop New Skills
Online learning platforms like Coursera, edX, Udemy, and Khan Academy offer a wide range of courses. Depending on your area of interest, you can find courses to develop new skills.
I have access to Linkedin Learning, which is similar to the platforms listed above, through my current job. I'm able to take full courses on almost anything, which is helpful in me pivoting into a tech role so I can really get to the Rich Auntie bag!
Start a Side Hustle
Platforms like Upwork, Freelancer, and Fiverr are great places to start offering freelance services. For e-commerce and online businesses, resources like Shopify and WooCommerce can help you get started.
I know that we are all trying to work less and live more, but sometimes a side gig can replace your main gig! Not sure where to start? I always say with a passion or an expertise you have. Usually whatever you do professionally you can turn into a consulting side hustle. Shot out to the hustlin' aunties!
Invest in Real Estate
Research real estate investment opportunities through real estate websites like Zillow, Redfin, or Realtor.com. Also, consider reading books on real estate investment, such as "The Book on Rental Property Investing: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing" by Brandon Turner.
Before I got into real estate I did have take some financial literacy courses to help shift my mindset about money and wealth. I read almost every BiggerPockets blog, went to local homebuying workshops and read books about buying multifamily properties. This helped me land my first duplex property where I househack so I can free up more of my income, getting me closer to my rich auntie goals!
Pursue Entrepreneurship
Entrepreneurship-related resources can be found on platforms like Entrepreneur.com, Small Business Administration (SBA), and SCORE. Books like "The Lean Startup" by Eric Ries can provide valuable insights.
Part of the reason I created Yeaux Mama was for financial freedom. They say you can't 9 to 5 your way to wealth, so if that's your goal entrepreneurship is key!
Surround Yourself with Luxury
To find deals on luxury items and experiences, you can explore websites like Groupon, LuxuryLink, and The RealReal for discounted luxury fashion.
Retailers like Nordstrom, Neiman Marcus, and Bloomingdale's offer high-end home and lifestyle products. My favorite Black- owned home decor brands are The Black Home, BLK MKT Vintage, and Peace & Riot.
You can also find Black-owned luxury brands at BlackDesignerBrands.com.
Travel in Style
Trust me, everything you need to know about travelling rich auntie style is in our last blog! We provided tips and hacks from booking your travel to your airport experience and beyond. You don't want to skip this one!
Enjoy Fine Dining
To discover fine dining options and deals in your area, check out restaurant reservation platforms like OpenTable and Yelp. Websites like Zagat and Michelin Guide provide reviews of fine dining establishments.
One of my rich auntie goals is to become a Sienna Charles member- if you know, you know- but my credit card gives me access to concierge services that book fine dining restaurants.
Support Other Women
To find mentorship opportunities or women's support groups, consider using platforms like LinkedIn, Meetup, or local community organizations.
You know I have to keep it Black, so here are some women's clubs for Black women: Ladies Who Golf and The Black Girl Social Club.
Give Back to Your Community
Identify local nonprofits or charitable organizations that align with your values and interests. Websites like Charity Navigator and GuideStar can help you find reputable charities to support.
Embracing The Rich Auntie movement is not just about being wealthy, but also living a life of luxury and abundance. Black women can embrace their inner Rich Auntie and take steps to make more money, live a more luxurious life, and save money while doing it. This includes negotiating your salary, developing new skills, starting a side hustle, investing in real estate, and pursuing entrepreneurship.
Ultimately, becoming a Rich Auntie is about embracing abundance and making choices that align with your values and bring you joy. Ase!
*By the way, some of the links in this post are affiliate links. This means if you click on the link and purchase the item, I will receive an affiliate commission at no extra cost to you. All opinions remain my own, and I only recommend products I truly love and think you will, too