Do you want to reach $100,000? This could be in your salary, your small business revenue, and even your net worth.
To help us achieve these big milestones in our lives, I’ve invited Tori Dunlap to chat with us today.
Tori is a millennial money and career expert. Her career started with landing a digital marketing contract worth tens of thousands, and a full-time position as the head of marketing for a global company — all before she turned 22. On track to save $100,000 by 25, Tori founded Her First $100K to give women actionable resources to get their first six figures too.
Andy Hill: You’re in your mid-20s and you have almost $100,000. Where did this drive come from for you?
Tori Dunlap: I had a really great financial education when I was growing up. That is definitely a rare thing to have parents who not only exemplified what it meant to be really good with money but lead by example. They not only talked about being good with money, but they showed me.
I saw my dad negotiate the cable bill almost every month. I saw my mom balance the checkbook on 1998 Quicken, which they still use, by the way. Doing it the same time twice a month, every month. And so I really saw them lead by example.
And then I also had a really cool opportunity to start my first business when I was 9 years old. I owned 15 vending machines by the time I graduated high school. These are the kind of, you put a quarter in, you get a handful of candy out vending machines. I ran that business for 10, 11 years and then later sold it to a 10-year-old who also happens to be named Tori. Because that’s how this crazy world works.
I was not only learning regular personal finance from my parents, but they gave me this awesome gift of starting my first business as a young person. So I understood profit and loss statements. I learned how to save money, how to pitch myself and had my first checking and savings account when I was 9 years old. I would go into Costco and write my check for a product and hand it to the attended at Costco.
Related Podcast: How to Raise Financially Savvy Kids
And so when I graduated college, I knew the business thing was rare. I knew that wasn’t normal, but I thought, “Oh, everybody knows to not overspend on credit cards. Everybody knows to negotiate your bills.”
And I realized very quickly that that was not the case. I was the friend all my friends were coming to you for money advice and direction. When I realized that a lot of intentional choices along with a lot of privilege I had was going to be able to get me possibly to a $100k by at least the end of my 25th year, I was like, “Why not do it?” Probably a year or a year and a half ago I realized, “Oh, this is in sight. I might be able to do this if I grind it out a little bit.”
So, yeah, I’m just inspired and was so thankful for my parents giving me a really great foundation. And I feel like I have a responsibility now to not only make smart money choices for myself but to pass along that knowledge to other women.
Tori Dunlap coaching
Women, on average, are not given the same financial guidance and advice that men are. We invest less or not at all. We wait longer. So we know about the a href="https://www.marriagekidsandmoney.