Haley Sacks AKA "Mrs. Dow Jones" On How To Actually Build Wealth, Master Your Money, & Stop Making Financial Mistakes

25:00But I didn't understand it until later. I'm like, why am I always stressed? I go on like, yeah, it's because my conditioning as a kid was like, yeah, there's not enough. There's not enough that we're, you know, we're cutting back that like we can't do this. We're stressed. Like, that's so interesting. And then with my sisters, it was like, OK, we're fine. We have enough. And then my other sister was like there was abundance. Yeah. And so they just their perspective on money was completely different. All three children were coming from the same household. That's so interesting. This episode is sponsored by BetterHelp.

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32:00See Experian.com for details. How do you look at children who grow up with money versus children that don't grow up with money? Well, I think that it's more what the parents bring into the home because like you could, you know, abundance is not just a number. It's love. It's, you know, having food on the table. It's feeling warm and safe at home. Like someone listens to you. Like, you know, that's what I, I love money, but I really believe that wellness is having balance with your finances, your mental health and your physical health. And that like all three, maybe not all three at the same time are all going to be popping, but you need to focus on all three in order to like find your groove.

32:48And so I think that like you could, you know, you could meet children of very rich people who have scarcity mindset just because of how their parents were acting or what the vibe was in their house. So it's really more about how you were raised versus what you have. At this stage of your career and with the platform you built, what is the most common thing people are coming to you with or problem or issue? Like what are you getting the most messages about? Well, I think the thing that I got the most messages about and what people are most concerned about is like this idea of this broken American dream.

33:22You know, we were raised by parents, by a generation where, you know, in the 80s, for example, you could buy a house for three times your annual income. And now that number is closer to seven times your annual income. The cost of child care has gone up so much. Inflation is so high. The average student is leaving college with like$30 ,000 in student loans. So prices have increased so dramatically, but wages have not kept up. And I think that the biggest question that I get is like, what now? What do I do? Like, am I helpless? And that goes back to the money mindset thing where you're sort of wondering, like, there's this feeling of I shouldn't even try because I'm already so it's already the system so fucked.

34:08And that's a really dangerous mindset to have because there's actually a lot of things that are great about being alive right now. Like, for example, we have our phones like there's a democratization of financial literacy and financial services that no other generation has ever had, where you can go online and you can learn how to grow wealth. You can open a brokerage account and get your money to work in the stock market. You don't need to have someone between you and that. There's less friction. And so I think that the biggest concern is like, you know, is the system so messed up that I shouldn't even try?

34:44And then the sort of the antidote to that is like, let's look at what's actually going really well for you right now. So what do you tell them when they come with that perspective to help them maybe see a different perspective? Well, I would I mean, the just like what we have available now is so different than those generations. But also that, like, you can either believe that and stay exactly where you are for the next year or you can try to start to take action and move yourself forward. And this is the same with anything in life. It really is every making progress on anything in life, in your career, in your physical fitness, in your finances, anything is just all about mindset and believing yourself and having the will to do.

35:27And that's what I always say to people who are like, oh, you know, because of you, I did this or that. I'm like, I didn't do anything. Yes, I gave you the financial literacy, but you took the action. That was actually like, I take no ownership over any financial wins that you've had. Those are yours. It feels like it starts with accountability, too. If you're blaming the system, I think it's time to look at yourself. A hundred percent. And it's not to say that the system is not really, really hard. Like people are in such hard situations right now financially. Like we can't discredit that, but like you have to believe always that there, that you have the ability to change your life.

35:59Or I think that life becomes so overwhelming and you just, you know, you're not going to make any progress. You, you mentioned off air, I think you talked about creating your own future. If If someone wanted to create their own future, where could they start? Always. And this goes for anyone like. Start with a money date, which is a set time every month, like think about it. Money is a relationship. If you were in a relationship and you never went on a date and you ignored that relationship, you're always talking shit about that person and you're like, you know, like living in fear of them, you'd be a really bad relationship.

36:35So the first thing is to have a set time every month. And this really was like a keystone financial habit that has made me a millionaire. Sitting down with your finances and looking at your finances, taking inventory. And this actually, I think, is a great use of AI. Like we can talk a bit about how people are using AI with their finances. Yes, because it's good and it's bad. But I think that one of the pros with AI is that it's so great with data analysis. So like when I started my money dates like, you know, 10 years ago, I was basically doing everything by hand. It was so arduous, like truly the I dreaded it every month, but I forced myself to do it.

37:14But now it's so much easier. You could just put in your bank statements, your credit card statements, and it'll analyze the data for you. And so when you like what are some of the prompts you're giving AI to help help it help you figure out money? So like you could put in your credit card statements and your bank statements and then ask it to compare your current spending to the 50 30 20 budget. which is like a really good sort of baseline for your spending, where you put 50 percent of your money into needs, 30 percent to wants, 20 percent to future use. You have to have a little fun putting some away.

37:51And you're also making sure that you're like taking care of your rent and everything like that or you're buying or your mortgage or whatever. And so you could ask it to break it down for you and you could see how far off you are from that, from those ratios. And then you could ask it, what are some easy changes that I could make next week? or next month, next month to improve those ratios. And, you know, I'm really big on negotiating. Anything is negotiable. And so you can negotiate your credit card interest rate. You can negotiate your phone bill. You can negotiate your cable bill, whatever it is.

38:22And what I love using AI for is making those scripts. Oh, my God, that's genius. So you're using the script from AI to negotiate. Yeah. Or say, write me an email. Perfect. Let's do a quick pivot into negotiating because we were prepping for this podcast as we deal with it. And it's not just us. We have the team. We all get together and we have the whole team, which is primarily women, ask what would people be interested in. And towards the end of the call, we got on the topic of negotiating. And I said, I negotiate everything. And what I also pointed out is most people that I've dealt with, the wealthiest people are always negotiating the hardest.

38:56And I saw there was a moment on the call where people were like, wait, you can negotiate? And I think it would be interesting for your perspective to talk about this because I think a lot of people don't even realize they can in the first place or that they should. Yes, 100 percent. You need to be negotiating everything, but especially your salary. And the I think that, you know, the first step to negotiating is having data and understanding like why you're why you should be able to get what you want. And so, you know, if you're negotiating a salary, I always say have a wins folder at work throughout the year so that you are.

39:39Yeah. So like whenever your boss is saying, oh, you did this great, you know, or I increased the newsletter by 30 percent subscribers or, you know, our revenue grew this much, put it in your wins folder so then you can be like receipts, timelines, like come right in and clock them with all the things that you did well. So they're like, damn, this girl is fucking fire like I need to keep her how much does it cost for me to keep her because where who am I going to find that can do all this so you got to have that wins folder and then you also got to know the market data so and this you know you can find this you use AI you could use LinkedIn you use Glassdoor figure out how much other people are making in that position in similar roles so that you understand sort of what's reasonable and then I would say it's also important to know like when you're going to negotiate like you don't want to negotiate at 6 p.m.

40:26on a Friday when like someone has their son's birthday party right after work, they're trying to run out the door. You want to negotiate when the company is doing well, when you are in a good position, when they know they have the time to have an actual meeting with you. That's really important. You don't want to spring it on them. Make sure that you tell them in advance. And then, you know, I think this is another great use of AI because people get very anxious about negotiating, especially women. That was the theme on the call. I saw a lot of anxiousness, like some of the comments where. Well, they think you're going to get mad at them.

40:58They're like, you know, or intimidating or I'm going to do it wrong or like, you know, I like my job, so I don't I don't want to lose. Like, you know, don't think because I'm asking for more. This means I'm going to leave like, you know, apologizing. But this is what I'm saying, that women are taught to play defense and men are taught to play offense. And that's what helps, you know, keep this huge wealth gap. And so it's very you should also know it's very normal to negotiate. Like, I think it's important. Like I'm a boss, I have a team. And like when I'm hiring someone or when I have an employee who's been with me for like a year, it's like a red, it's a green flag for me if they negotiate.

41:32It is a red flag when I interview someone and they take the salary at face value. I'm sort of like, do you know who you're working for? Like, you got to play a little hardball. So what do you do? Well, you know, it depends what kind of who the person is. But, you know, I wouldn't say to them in that moment because, you know, you're trying to get a good deal. I'm still running a business. If someone wants to work for me for that amount of money, fine, I'll take them. But like you offer the salary thinking that they're going to. Yes, I always like I'm saying I'm going into it. It's like sort of like, you know, you go to a restaurant and you expect them to say, do you want, you know, a certain restaurant sparkling or flat water?

42:06If you're negotiating, if you're hiring someone, you expect them to say, well, actually, this is how much I want. But I love that you said show up with receipts and data, because as employers, and this may sound harsh to people that are in this position and want to negotiate with their employer, when somebody shows up and wants to negotiate for a higher salary and the only thing they have is I've been here for X time, that's not a good enough reason to start a negotiating process. That feels riddled in entitlement. Well, it also, I think some people think because they've been somewhere for a certain time that the company is then obligated to continue to pay more and more.

42:44and it's and maybe people won't say this but it's not the truth but if you show up and you say look at all the value that I've added that has benefited the company and here's x y and z examples I think as an employer immediately you're like wow this is somebody who like really cares and is providing a ton of value to the company and making it more valuable so we've obviously got to peel off some more resources not just like I'm here clocking in the time and I'm here a hundred percent yeah I think that's such a good point like you really have to like I had a rule when I worked in corporate that was first one in is the hottest.

43:16Like, I think you have to be good at your job and work really hard at your job to be paid more. Like, first one is the hottest. Work hard, show up early, like go above and beyond. Like, that's, we are in a buyer's market when it comes to talent. There is a lot of unemployment in this country. There's a lot of talented people who are looking for jobs. There's, you know, there's, it's not the same world that we're living in as people, like, who are hiring people. And so, you know, you have to show up and make sure that you're adding value and that you're, you know, that's the first step to getting a breeze is being good at your job.

43:46I think the energy of that's not my job either is a tough one too. I think as the boss to me, everything's my job. And I feel like when people are scrappy about it, like Ariel and I were talking, Ariel has been my photographer for 10 years, which is crazy. That's so crazy. You've done a great job. She's amazing. She's amazing. She's documented everything. Oh my gosh, I love She's such a finance girl. I love that. She's like so into finance. Okay, that's so good. And she was talking about how every single job that she approaches, whether it's with crypto, because she has a lot of crypto, or with what she's working on as an entrepreneur or with photography, it's like she just assumes everything's her job and she'll do everything to help.

44:31And it shows she's been with me for 10 years. You know, you see that in a person. the energy of that's not my job i don't that's not what i would advise people to do well i think like the truth of the matter is like you can have whatever attitude and perspective that you want but you have to decide like what is going to get the right kind of attention that you're looking for and what is what is going to entice the employer to invest more in you right like if if it's like i'm here and i'm doing what i'm paid for and that's all i want to do great fine but if if you're competing in the workplace with other people that like what else you got for me and i'm ready to go then like that that's just what you're up against right yeah and so when you do these reviews i think people my thing is people can do whatever they want and behave however they want and and earn what like all that stuff but you have to be realistic about your competition and what's going on and you also to your point earlier have to be realistic about the position that the world's in right like you know during covet it was really hard to find people really hard to hire yeah right now whatever right now there's a lot of layoffs yeah yeah yeah it's different what investments let's get down to the brass tacks are really good investments that people wouldn't think like bags well i think i usually i feel like i love this well wait can i add one thing on the negotiating thing please there's another good thing to know when negotiating is your batna which is the best alternative to the negotiated agreement so like if you go in and you're like oh actually we can't do raises right now then you can actually ask for like a higher or you could ask for more days at home.

46:00You could ask for a different title. You could ask for them to pay for your courses. You could ask for all these other things besides more money. Obviously, we want more money. And then I would say if they say no, say, well, what do I have to do to get more money? And that's now your KPI. And if you then hit that KPI and they still aren't giving you a raise, then it's time to leave. But I don't forget about BATNA because there's other things that you can negotiate for besides just cash. Really good tip. Yeah. We need to hit the BATNA, girl. Really good tip. yeah yeah the batna batna batna batna okay so we need to talk about the bags yes let's talk about bags yeah listen i'm happy to like talk about these but i think for this i think like you know listen when you start to get into alternative like why i never like really get into like alternative investing on this show is i think there's probably people that are better and more expect scott galloway was on yesterday he can talk about that better than i can but i think foundational what I realized doing this show for as long as most people just don't have the basics they don't understand how to set up the basic things that are going to set them up for success and I couldn't agree more with you that like that first hundred thousand is so miserable it's such a hike it is so stressful but after that things become a lot easier a hundred percent yeah I always say with your investment portfolio like 90 percent of it should be super boring low cost index funds just like I you want to have a fabulous life.

47:26You don't want to be average in your life. You don't want to have average hair or vacations or family or relationships or whatever you you want to live fabulously. But for my or at least for me, I don't want to have an average life, but I want average investments. I'm like, please give me average, because I think that the moment that you start to look for not average is when you get lost in the get rich quick quick sand, which then can lead you to actually losing a lot of money. That being said, I think that if you have an interest in something, like say you are really interested in bags, like I love secondhand luxury handbags.

48:01I've taken trips to Japan, to Paris, to Milan, to source rare bags. And I have not sold them because they're part of a collection. But when I run the numbers online, which I always do before I buy them, yes, they are valuable. That being said, are they liquid? No, I would have to find the right buyer to buy that bag. But I would only ever put five to 10 percent of my portfolio into those more risky investments like a crypto or Birkins or wine or whatever your pleasure is. And then I would keep the rest of it really simple. I think that's important for people to hear you say because, you know, you read all these stories about somebody investing in a startup that goes to a billion dollars or, you know, somebody invested in Facebook early.

48:46Yeah. But you hear very rarely about all the ones that go bust. And in my experience in those things, most of them go bust. Yeah. You have to be able to never. That should be money that you're OK to say goodbye to like money that you're like, you know, the cost of doing business money. It's just like, you know, money that you could live without. But the other 90 percent, that's money that we want to hold on to and that we're growing. And you also don't even need to have that five to 10 percent of risk taking money. You could be 100 % just in low-cost index funds, keeping it average, looking for those 8 % to 10 % returns.

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56:16It's so cute. It's baby pink. And I should tell you the towels are shaped like a doily. So that's fun too. Go to shopskinnyconfidential.com to grab your face towels today. When you get presented with decks, I'm sure you do all the time. You guys do a lot of, you've been doing some investing in companies. We do it, but again, to your point, I do it either because, or we do it because we're either very interested in the sector, we're doing something for, you know, the greater, like if Dear Media is doing something, like maybe we're investing in one of the talent businesses. We're doing it with dollars that we are completely at peace with parting with me like obviously we don't want to lose them no of course but you your life will not change because of that yeah your future will not be affected and and what i tell people is we've covered the basics first and the boring stuff and you know you're not betting the farm on something that could go belly up tomorrow 100 i just think people need to hear that oh my gosh like i was obsessed with or i still am obsessed with farmland like i really because like like bill gates owns the most farmland in America.

57:21Like I'm like, OK, land is like this amazing resource like land and water. I want to be invested in land and water. And so I did all of this research on farmland and it's like actually a bad like it's not not amazing investment. Like it's like, OK, you're maybe going to get like over time, like seven percent back. I mean, this is not as crazy as talking about like a Birkin where you see the crocodile Birkin online that, you know, then goes for 300 percent more five years later. But what I'm saying is like, but if I did invest in farmland, it would be the sort of thing where it would be with that five to 10 percent just because I'm passionate about it versus because I think that this is how I'm going to really hit it big.

57:55And I also get really jealous of those headlines. Like, of course, we all want to be early. Like what I that's like my biggest thing that I tease myself with. Like, oh, my God, like 15 years ago, like what would I have done if I knew if I could go back in time now? Like it's such a fun question, but it's also really annoying. It's like hindsight is 20-20. What deck impresses you that comes across your email? I think, well, I'm always looking for financial services, right? Because it's like, I really love what I do, which is connecting with people and helping them feel empowered with their financial literacy.

58:27And that is like more than a full-time job. Like I have a big team, like we're doing so much just to get the content out there. So like, I don't really have the infrastructure in-house to build the solutions that I think would really help people. So when I look at Dex, I'm looking at is this a product that's going to solve a problem and make it a lot easier for people to be financially successful So that's what you invest in if it comes to like a creator or like a grassroot company Yeah, I mean look I would love to Well, my worst investment was during the pandemic when I became obsessed with powdered coconut water because I was doing tracy Anderson for like three hours a day and I was so dehydrated you couldn't get coconut water anywhere so I became obsessed with Laird Hamilton's coconut water and then I realized that it was a public company Laird is public and I was like okay I'm so freaking early on this like this is gonna go to the moon and I put all this money in it and it has gone to zero and so no offense because I know uh on your network but I love the product but like there was an investment it was not great but I I got lost in the sauce like I sort of just I did no research I went completely with my gut and I gambled.

59:40And so, you know, it's also what I'm looking at with the deck is do you have the fundamentals? Because I have like I'm the most impulsive, like like, you know, stars in my eyes person. So I have to ground myself with the systems that make it so I won't just throw away my money. Tracy Anderson, three hours a day. I was very slow at it, Lauren. So it wouldn't say that the whole time, you know, she's working really fast. It's like maybe you're pausing, you're, you know getting a little water nothing else to do i i've never taken her class do i need to try her class um i actually had to get knee surgery after doing that so i would say i'm not the biggest proponent for it but stick with the pee ball what a review yes okay it was a whole i crashed and i burned if somebody and i lost is listening or watching and and they're and they want to future proof their investments they want to be a future rich person they want to be a future later in life yes what are the three things you're telling them okay one you have to have a money because okay like rihanna rihanna was when she was 16 she was you know i think she was on her ponder replay tour she was making so much money and she was like one of those she you know had no financial literacy and i think felt like okay money is not for me i'm gonna do what i'm really good at which is making these bops and dancing and see my fans.

1:01:03And then, you know, I think someone at Rock Nation, which was her label, set her up with accountants. And she was like, cool, I can trust them. And so then and she was never looking at anything, no bottom line. And then she got off of the tour and she tried to buy a house. She didn't have enough money for a house. And she was like, how do I not have enough money for a house? Like I'm Brianna. I've been on tour. I did a world tour. Like this is crazy. And upon digging, realized that those accountants had been completely frauding her tax fraud, taking huge percentages, you know, the whole shebang.

1:01:30And, you know, happy ending now is a billionaire. But I guarantee you, Rihanna signs her own checks. I guarantee you that having, you know, that Rihanna is having a money date, that she is keeping an eye on her bottom line, because what you do not track will not progress. And what you do, and if you don't have an eye on your bottom line, someone else will. So number one, it doesn't matter how rich you are or, you know, where you're starting from, you need to have systems in place where you're able to review your full financial picture. Lauren, we're going to have a money date now? Sure. And by the way, it's normal for it to suck.

1:02:00No, no, no. I'll have a money. Yeah. I'm excited about this. I think that you're being a little funny to me because I have a money date every single month, twice a month. You have a credit card review date? No, no, no, no, no. With my product line, I watch the money like a psycho with my team for an hour twice a month. And then I have a weekly money date. I'm not going to put you on blast because I'm going to get pinched and hit or something. I'm going to get attacked. No, this is true. You won't hit me, but you'll pinch me probably. That's the money dates I have. But with a straight face, with Miss Dow Jones straight across from you, could you say that you're perfecting your money date right now with me?

1:02:39Not. Okay. This is the truth. The money date, I don't do a money date with Michael. I do one for my companies. Where are our partners? By the way, the companies are doing great. By the way, you don't have to give too many deals. where are our personal checking accounts oh fuck you that's a problem right well yeah no we are going to give me the information that when you die laura and i are going to take over yeah but that is we just could do a money date to just review where things are okay we're going to do a money date i'm inspired money date is good and then the other thing is you need to invest you got it like we talked about how you know 90 percent of the stock market is owned by the top 10 wealthiest people that is what separates someone who is a future rich person versus not is someone who and who can stop working eventually is you have your money working for you so you need to buy assets i think it's so like important what you're talking about because again like money is a relationship it's a huge stressor for people's life if you whether you like having you know reviewing money or not, like it will affect you.

1:03:45And I think one of the things you touched on is many people that are good at earning money have told themselves that they don't like money or talking about money. So they just don't look at it ever. Yeah. And I think that could be very problematic. Yeah. And it's like you could be it's like, you know, there's a famous janitor who died with like eight million dollars. And then you'll see like, oh, someone who is earning so much money who dies with nothing because it's you know or has debt and it's all because just of financial management like financial management actually matters even like it's as important as how much you're earning like you can't you need a delta you need to be making money that's important but you know if you're not managing it correctly then you're never going to get rich if someone wants to do a money date tomorrow what's is there like a system exactly of how it should be run Absolutely.

1:04:34Okay. So the first thing is like, know that it's okay to not want to do your money date. Like I do money date every month. And like, sometimes it's like going to the gym. Sometimes I'm like, I'm going to the gym. And then some days I'm like, are you going to go to the gym? Like I would rather do anything else, like procrastinating gym, whatever. But you have to put it in your calendar and actually stick to it. And this is a great place to like use community support. Like when I started doing my money date, I would do it with my best friend. If you have a partner, you could do it with them. Like, I think this is a really good thing to like tag team, you know, even if you don't want to talk about your money with them, just sit and do with them.

1:05:07Then you're going to go through all of your bank statements, your credit card statements and your account balances and look through them. Like I said, this is a great place for AI. So you could have it, organize it to your needs and your wants and to your like future you fund. So you can review that and then see like what is your what story is your money telling you? Like what what are you spending a lot on? What and do you actually value that? Like, I think that was a lot to what I noticed when I started to review my finances was I was like, like I hate delivery sushi. Like, OK, you guys have sugar.

1:05:45We have sugar fish now in New York, too. Like, that's a good one. They're not in my delivery zone. I'm in Brooklyn. But like, you know, most sushi delivery, they'll get you like that's like going to be like with fees, so much money. And it's like it's never as good as just going to sit there. So like little things like that where I was like or, you know, subscriptions that you forget to cancel. Like Disney Plus just got me and I, you know, emailed them two days later and they refunded it. But it's like you have to keep an eye on your finances. So, you know, looking at those little things, I also think the money date is a great time to return packages.

1:06:13You know, all those little things. Open your mail. So annoying to open your mail. This is your time to do it. And when are you going to do it? Otherwise, you're going to be like, wake up and be like, I want to open all these bills. No, you have that set time. And then if you get them throughout the month, put them aside and then you can look at them there. Lauren shovels all the mail, even her mail up into my office and leaves it all on a pile and then what i do is i take all the mail even stuff to me and i put it on the stairs yeah the mail is tough i will get you i actually don't like opening envelopes nobody does so who's like i can't wait actually so true so that's why i put it on i'll go through it with you though once a month i'm i'm down to do that a money date but the money date cannot be like you bragging like it's got to be like it's got to be okay here's my and you can't shame her like i think i won't shame her like no he doesn't shame me yeah no there's no shame here's the thing i think for couples out there that share finances or are working to build a financial life i think there's all there's typically somebody who's further along yeah right like that's usually how it is and i think it's a good idea as a couple to just like sit and bond over that and and do it in a calm way because i think again in relationships it's a huge stressor in relationships oh it's the number one thing that like people fight about the number one reason for divorce it's like you know and that's what drives me crazy too about like online content where it's become this like really funny thing for or funny thing for people to make couples content about like me asking like like let's prank my husband and i'll tell that i paid the mortgage or like you know like i've seen those yeah yeah just like these where women are like making fun of being like so financially reliant on the man and then sort of like positioning themselves as you know so disconnected from the household finances that it's a joke it's not funny no and i don't think it's funny either i think that this is one area of my life that I would love to like really get control over I don't think we have a lot of issues I don't if someone was asking me like off or on air I don't think we have issues with money I don't find that we fight about money in our marriage with ourselves no in our marriage there's no like there's no tension I just would like to have a lot of control over it and then what would you like what would you do like you just want to know like where everything is I don't want to be ignorant to it yeah i don't want you to be either yeah i want to know exactly such an easy fix yeah like truly but it's it's it i heard it's the number one reason for divorce yeah is financial issues in couples and again i think what we're talking about here is it's very like you it's you could figure this stuff out with a couple conversations and just getting people on the same page and for couples you would think that you want to do better together and you want to save and invest more because if you're into spending it's going to create an opportunity for you to be able to spend even more in the future, right?

1:09:07But also who you marry or who you partnered with is like the biggest financial decision that you will ever make in your whole life. Because, you know, in most states, when you marry someone, you're also marrying their debt too. So if you're marrying someone who is coming in in a bad situation, and some people get married and they have no, that's why I think prenups are so important. Not even because, you know, one person has so much money and the other doesn't, you want to protect it. Yes, that's part of it in some situations, but it's also just a great way to go in with complete clarity about each other's financial situation.

1:09:39It forces you to sit down and like bottom line your net worth. Say, here's everything that I'm working with. Here's everything you're working with. And you have complete clarity. You'd be so shocked at how many couples never do that. And then if you're not in the rhythm of talking about money, then, you know, it does become this thing where you start to resent people. like I do on Instagram, we'll put up a question box about financial secrets. So many of the financial secrets are about people hiding money from their spouse, people being really upset about how their spouse is spending. Like just it's really interesting.

1:10:14You can get ahead of it really easily just by, you know, communicating. Should you sign a prenup? Yes. Everyone. Everyone. Does it matter? So even if you go into the relationship with no money? Yeah, because you could earn a lot of money in it, first of all, but also who you marry is not who you divorce. So you want to get on really it's like you wouldn't go into a business deal without having a term of contract. And if you don't have a prenup, then you're leaving it up to the state to decide if you got divorced, what's going to happen. So wouldn't you rather like write your own prenup? Yeah, no, it makes total sense.

1:10:48Well, I think sometimes what happens, though, is somebody will get with someone, man or woman, and one person is far along financially, and the other may not. And then they're offended that the person wants them to sign a prenup. He's like, well, you know, but that's a red flag. Like, I love Kelly Ben Simone from Rony Real Housewives of New York when she was like engaged to that guy and she went on ultimate girls trip and was so excited about him. And then they were going to get married and she pulled out because he wouldn't sign a prenup. And I was like, that's my girl because it is a red flag.

1:11:15I'm like, because he wouldn't sign it for her. Yeah. And she's like, you know, does all this real estate, whatever. It takes care of her daughters. Like, she's like, I'm not I'm not doing this unless we have a prenup. Yeah. On my second marriage, I would for sure have him sign a prenup. I would be like, you're signing this. I totally agree with that. You would need it for a second. I would insist if it's your second marriage. I make sure that flows down to our heirs and our children. That's true. Can't have some scumbag coming in at the last minute and swooping up all the loot. Where can everyone follow you to get financially strong?

1:11:48Well, I just launched my podcast. It's called Financial Tea and you can find it on all podcast platforms. So come join me there. I go through all of like the hot financial topics and also I'm interviewing really interesting people. So it's a great way to just pop in earbuds and feel financially literate. And then I also have my book coming out. Congratulations. Thank you. Tell us what it's called. It's so cute. Future rich person, the new rules for building wealth, even if you are stuck broke and that billionaire will not text you back congratulations on the book the podcast everything at miss dow jones on instagram thank you so much for coming on the show hailey that was so good i'll report back to you about the money date after i'm doing a money date no i really am doing a money date space time yeah well i just got my money date on the calendar make sure it's in green learn it live it love it thank you so thank you hailey stay rich