Life
Instagram personal finance guru Haley Sacks wants to convince a pessimistic generation that wealth is within reach.
$350 tickets to Taylor Swifts Eras Tour?
Mrs. Dow Joneshatesgirl math.
Millennials have children, and the eldest Gen-Zer is already 26.
Its not that Sacks, 32, is opposed to non-essential spending.
Its the lying thats a red flag for her.
Why are we deceiving ourselves?
This is my demographic, she says.
Which is to say, 20-somethings who dont want tips on budgeting or hidden deals.
Do you have a SEP-IRA?
I had never come close to opening a high-yield savings account.
I have used girl math.
Sacks is visibly disappointed.
This brings us to one of Sacks first rules: Friends share salaries with friends.
Heres the thing: There is an abundance of money, she says.
One persons success doesnt mean that you cant have success.
Theres enough for everyone.
This is not the kind of messaging were used to hearing.
The American dream has really changed, Sacks acknowledges.
But that doesnt mean we should just give up.
Im a millionaire who rents, you know what I mean?
Instead of resenting our current financial situation, Sacks prefers her followers take advantage of it.
We should be switching jobs frequently for maximize salary increases and setting up our own side hustles.
Social media, in particular, is a place where poor financial influences thrive.
Sacks hates the way apps like TikTok and Instagram have glamorized spending.
Were always online, and that means that were always being marketed to, she continues.
Wait 72 hours before pressing buy on an item.
Sacks herself no longer buys fast fashion and has stopped ordering food in favor of cooking.
She allows herself to Uber home from an event only if she took public transportation there.
Other habits from her past, like regular blowouts and manicures?
But the end goal isnt stringent frugality.
If youve got the big things right, you dont have to worry about the little things as much.
Sacks is urging a pessimistic generation to believe that building wealth is a realistic endeavor.
Sacks grew up in New York City, with both parents working on Wall Street.
They asked me all those questions, and my face went blank, Sacks says.
She turned to the Internet for answers but found very few accessible resources for finance.
Now, Sacks has more than 820,000 Instagram followers and another 286,000on TikTok.
She knows her situation is thanks in part to coming from financial privilege.
She doesnt have student loans, for instance, nor has she struggled with things like emotional spending.
The details of her portfolio arent surprising, she says, but arent really the purpose of her work.
There are some [personal finance creators] who are so open-book, she says.
But it doesnt matter what you came from; you still probably didnt learn about money.
It literally doesnt matter who your parents are.
Shes not a certified financial planner.
She cant tell you specifically how to invest.
She can, however, address our discomfort with talking about money at all.
Sacks wonders aloud at lunch.
Im like, There has to be something there.
Sacks adds that the finance industry benefits from peoples money insecurity.
How do we talk to ourselves about money?
And then its like, OK, whered that come from?
Is that from your childhood?
Is that how mom and dad would talk about it?
And sort of retooling that.
If youre 22 and you do that, thats literally going to change your whole life.
Maybe Sacks can turn you into an enthusiastic investor.
My work here is done.
