Mrs. Dow Jones’ New Personal Finance Rules For Millennials And Gen Z

Haley Sacks (0:00)

A big part of the book is also to be a financial optimist, because what I noticed a lot is, yeah, you can talk about all the things that are wrong and all the reasons why it's not gonna work for you. But if you believe that, and then you get paused and you never take action, you're just gonna stay exactly where you are.

Maneet Ahuja (0:21)

Welcome, I'm Maneet Ahuja, editor at Large at Forbes and founder of Iconoclast, and we're here at the NASDAQ market site. My guest today didn't marry a rich man, she married the market.

She calls herself Susie Orman meets Paris Hilton, a comedy writer who made money fluent for a generation, millions of followers, a hit podcast, and now a New York Times bestseller, Future Rich Person, which came out in April. Haley Sacks, Mrs. Dow Jones, thank you so much for joining us on Iconoclast.

Haley Sacks (0:51)

I'm excited to be here. I love the show.

Maneet Ahuja (0:53)

So you started as a comedy writer for Warren Michaels Digital Studio. How did the writer's room inspire you and create this training ground for you in finance?

Haley Sacks (1:03)

You know, I think comedy is a really interesting place to start a career in finance because something either works or it doesn't, and it has to be super clear. And like when you pitch something in the room, it's either gonna hit or it doesn't. And I think the same can be said for explaining financial topics. Like we've all, you know, had someone drone on to us about something with a lot of jargon and it's just you're, you know, fast asleep in your head and they're talking at you.

But if you can actually get it across in a simple, concise, fun way that makes people want to understand it, then you're gonna succeed in educating them.

Maneet Ahuja (1:40)

And that's so brilliant, right? Because like when you think about money, it causes a lot of fear and apprehension. It doesn't matter who you are, right? Or at any place in your money journey or life. So infusing comedy into the situation is completely brilliant.

Haley Sacks (1:56)

Thank you. Well, it shouldn't be that serious. I feel like we all need to just like take a step back, take a breath, relax. And that will help us all, you know, be able to handle our finances a little better.

Maneet Ahuja (2:06)

Yeah, you have a really good way of connecting with the audience. I've noticed that and just making people feel like it's digestible, it's doable, it's attainable and giving them like baby steps, actionable items for how to think about it. I even love from your book, like thinking about the psychology of money first of what has been holding you back.

Haley Sacks (2:26)

Yeah, which is so crazy, because in researching the book, I learned that people's relationships with money are set by the time they're seven years old.

Maneet Ahuja (2:37)

Seriously?

Haley Sacks (2:38)

Yes, and so-

Maneet Ahuja (2:39)

I have a seven-year-old. What should I be doing as a parent?

Haley Sacks (2:42)

I mean, you've got to be careful about how you talk about money in front of your kid and actions speak louder than words, I always say when parents ask for advice. But for most people, they're adults and they're dealing with money with all of this baggage from childhood. And then they can't figure out why things won't change, why they have so much fear, why they have all of these underlying beliefs. And so you have to unpack that first and go into that seven-year-old brain if you actually want to make a change with your finances.

Maneet Ahuja (3:15)

So you're actually also a psychologist in there. Yeah, no. In addition to being a comedian. Yeah, I'm a doctor. Yeah, you're a doctor.

Haley Sacks (3:21)

I'm a doctor.

Maneet Ahuja (3:22)

No, but I love the disclaimer. We don't talk about enough. I love the disclaimer in your book saying, you're not a doctor or a CPA. So everybody needs to do their own due diligence. Yes, yes, of course. Before writing this book.

Haley Sacks (3:32)

Yeah, of course. But if they want to call me doctor, that's fine.

Maneet Ahuja (3:35)

Yeah, no, that's hilarious and funny. So you've owned this space since 2018 You were essentially the first financial influencer. Why did it take a book to kind of bring everything together at this moment?

It's been such a huge journey for you. Millions of followers, your podcast, and now the book. Take us through the journey.

Haley Sacks (3:56)

Well, first of all, that means a lot coming from you because you literally broke the Lehman Brothers' stories. So I'm pretty sure you were owning this space before me.