Financial popstar Haley Sacks AKA Mrs. Dow Jones joins Cheddar News' Alicia Nieves on a Walk and Talk to break down investing tips, ways to improve your money mindset to prepare for the future, and why it's important to talk about pay transparency.

Opening Bell

The Walk and Talk With Mrs. Dow Jones

I started financing school because I did not have a financial teacher. Like they didn't teach it in school and I couldn't really find anyone that I clicked with. So I started to teach myself and then I was like, hey, hey, like these are sort of cute analogies, like maybe I should put them on instagram or something. And immediately it was like, yes, okay, well like that finally someone is making finance fun to uh, to learn about because obviously money is, you know, we're always spending it, we're always making it, we're trying to grow it. But you know, it's hard to understand really the inner workings demystify, you have to demystify and that's the thing that's like a big passion of mine. I feel like for so many people is such a great passion. It's always, it's one of my favorite hobbies and people, it resonates with people, right? Because that's part of like your success you've taken then what you do with finances is cool. And then you turned that into a finances school university now. Yeah. So I mean that was like pretty natural transition, I would say just because you know, I was putting out these micro lessons on social media and I was like, wow. But I would love to be able to really dig in and be able to from scratch help someone take control of their finances. So that was the first course literally called start here. Exactly. And I was like, okay, this is where you start, it's awesome, teaches you everything that you need to know, we go through your own finances. It's like um it's, I mean, I've had thousands of students, like it's crazy the yeah, you're like, wow, am I a professor? Like, I guess I thought it was a financial popular, but I guess I'm also a teacher, Maybe I'm a doctorate, doctorate of Finance and Understanding, I think so, I'm gonna go buy that. Um Yeah, and then my second course is let's invest. So you know, it's a natural transition once you've got your emergency fund saved, you got no high interest rate debt, you're maxing out all those retirement funds, it's time to uh put that money in the market baby in terms of actually picking things off and investing. What is some advice you have on that and like easy ways that people can invest. Okay, number one emergency fund. Yes, God, You have some cash set aside in case anything happens because you want your money to be in the market for at least 5-7 years. So you gotta have your emergency fund, so you don't have to pull it out before it's ready and then maybe fall victim to a market cycle because we all know it goes up and down. But over on the damage, we are on the down, but it will go up. So I gotta make sure you have your own back there. Um number to diversify. You gotta diversify baby, you know. I know, yes, I know your cousin is giving you that hot tip and like we all wanna buy meme stocks and I get it like it's a cool vibe, but ultimately you want to make sure that you have a wide variety of securities in your portfolio. Um um, and then number three I would say just like really work on your mindset. Um super important to be able to stay invested, especially with beginner investors when they go through their first, you know, bear markets, it's a bear, it's scary and, and they might pull out their money and end up losing money and like, you know, just really understanding the history of the stock market and how it works over a long term and so, you know, really making sure that you're able to keep fighting the good fight. One of the things that's popular on your channel that you like talking about a lot is pay transparency, how important that is and how people can have what oftentimes can be an uncomfortable conversation totally. I mean, I think people are super cautious about asking their colleagues how much they make. Um but it is when you realize how much you'll gain from taking that risk, It becomes a no brainer. You could really be making, someone can have the same position as you and you could be making tens of thousands of dollars. Yeah, easily less than them. Obviously your company is not gonna say anything because they're like, whoa, like we're snagging a deal, but like, you know, you need to make sure that you know a what like the average salary is for your position in your area. So you have market data outside of your company and then also within your company and you know, it's really, it's sort of just something you have to bite the bullet and do and you know, say, hey, I am asking for a raise tomorrow. I really want to make sure that I, you know, I'm going about this the correct way like or hey, I'm doing research like we just wanted to know like what you're earning or I make this much. How much do you make? So you're given a ton of advice, Such great insight and tips. But I am curious what has been the best piece of financial advice that you have been given. Okay, so one piece of financial advice that I always think about is don't follow the herd, it's so easy. Like even like we see if someone's wearing like I want cargo pants now, everyone's wearing cargo pants. Is there any reality that I need cargo pants in? No, but do I want them. Yes, because I just see people wearing them and it's the same thing with investing and with your money where you know, you could see all these people doing things and think that's how I'm gonna get rich quickly. Um but it never works out. And, and the best thing that you can do is embrace getting rich slow, like slow and steady, slow and steady. Like don't rush it and don't look for shortcuts. I hate shortcuts. Of course, if we're in a car, give me all the shortcuts I can get, you know, but like I hate when people are trying to cheat their way to the top, you know, or look for ways around actually doing what's best.