Money is power. Tori Dunlap believes that “having financial freedom is a woman’s best form of protest,” as she states on her website. Having financial freedom allows women to take control of their own lives and leave situations that no longer serve them.
In 2016, Dunlap attempted to save $100k by the time she turned 25. She reached her goal in 2019, three months after her 25th birthday. Her hefty savings allowed her to go to Europe with her friend and quit her job to pursue her financial blog full-time. Now, she has a top financial advice podcast and a New York Times bestselling book, “Financial Feminist”.
To help other women reach similar financial freedom, she provides free financial advice and tools on her blog and podcast. According to her website, her multi-million-dollar platform has helped over four million women take control of their finances.
So how can you achieve a feat such as Tori’s? She has a plethora of valuable advice to dole out.
Tori emphasizes the taboo nature of finances among women, noting that men freely discuss salaries and stocks. By breaking down the barriers of discussing money, women can build a similar network that will help them prosper.
Similarly, she encourages women to ask around about salaries and not to shy away from negotiating salaries with employers. She even provides a negotiation script on her website to help women confidently assert their worth.
Once a salary is negotiated, Tori guides women through the process of opening a ROTH IRA and investing the funds to set them up for retirement.
As college students yet to enter the workforce, Tori’s advice is still applicable. When asked by CNBC about how she shuffled her priorities to save a whopping $100k, Dunlap responded: “You need to attach a ‘why’ and your values behind your financial goals as opposed to just ‘I was told I should buy a house by my parents, maybe I should do that…If you don’t want to do that, don’t do it. That’s OK. You need to find things that actually reflect your values.”
Tori also insists that spending money is not a sin. You should not feel guilty for continuing to purchase your favorite products, like a daily coffee or books, but it’s important to realize that this means sacrificing or cutting back on items that are less important to you. It’s all about priorities.
If you want more advice to help you set up your financial future and give you the ability to start your own business or retire early, consider reading Dunlap’s book, visiting her website and following her on social media (@herfirst100k). Her content will inspire you to follow in her footsteps and take control of your money!