dollarswithdani

HR professional, MBA student, and money coach | Helping you master your finances and thrive in your career! ⤵️

[dollarswithdani @dollarswithdani]

Don’t think of your career path as a ladder, where you move from one step, up to the next step, and so on.

Think of your career as a jungle gym.

You may make lateral moves, or take a step back, in order to eventually move up. And that’s OK!

Everyone has a different path!

[dollarswithdani @dollarswithdani]

Job search reminder:

Regularly check your junk/spam folder. You never know what emails from potential employers may end up there.

I once almost missed an interview request because it went to my junk inbox.

#jobsearch #interviews #humanresources #hr

[dollarswithdani @dollarswithdani]

Playing the lottery is gambling.

Your odds of being killed by lightning are higher than winning the lottery.

Yet about half of adults spend $1000+/month on the lottery.

Imagine if that money was invested in index funds instead. $1000/month for 30 years is over $1.1 MILLION

[dollarswithdani @dollarswithdani]

When managing your money, stop thinking of your finances as:

Income - Expenses = What you Save / Invest

Instead, pay yourself first and think of your money as:

Income - Savings/Investments = What You Spend

Focus on your financial goals first!

[dollarswithdani @dollarswithdani]

Sales aren’t as great as they seem

If you buy things you don’t need, you’re not saving, you’re spending money

Sales are good for things you would have otherwise bought that you’re now getting cheaper

But companies have sales because people overspend. Don’t fall into the trap!

[dollarswithdani @dollarswithdani]

The biggest investing mistake you can make is selling when your investments drop.

The market will always go up and down. But you can’t let that shake you!

You don’t actually lose money until you sell.

I buy & hold for the long-term and ignore those market fluctuations.

[dollarswithdani @dollarswithdani]

Looking to increase your credit score?

First, understand what factors make up your credit score and how they’re weighted.

-Payment History 35%
-Amount Owed 30%
-Length of Credit History 15%
-Credit Mix 10%
-New Credit 10%

Improve these areas and your credit score will go up

[dollarswithdani @dollarswithdani]

5 things you should do before investing:

1. Track your expenses
2. Get in the habit of saving
3. Build an emergency fund
4. Pay off high interest debt
5. Do your research

Only exception: if you get an employer match for your 401k or 403b - take advantage!

[dollarswithdani @dollarswithdani]

People make investing seem a lot more complicated than it is.

They focus on day trading, futures, crypto, options: the things that sound “cool” but carry high risk.

My strategy: buy and hold mutual funds and ETFs

Yes, it sounds boring. But it’s straightforward and it works!

[dollarswithdani @dollarswithdani]

Continued...

Shareholders are always stakeholders.
But stakeholders are not always shareholders.

Examples of stakeholders: shareholders, employees, customers, suppliers, vendors

[dollarswithdani @dollarswithdani]

I see people sometimes confuse the difference between Shareholders and Stakeholders.

Shareholders: own at least one share of a company and have financial interest in company profitability

Stakeholders: have interest in the company beyond just stock performance

Continued...

[dollarswithdani @dollarswithdani]

@WarrenGosling It probably targets certain industries more than others. Healthcare is doing well, whereas small businesses and service industries are being heavily impacted

[dollarswithdani @dollarswithdani]

I had some tiktok videos go viral& some of the men disagreed with me through attacking things that had nothing to do with my video

“Your vocal fry is intense”
“Why do you blatantly lie so much Dani???”
“This girl knows nothing”

Do you think these would be said if I were a man?

[dollarswithdani @dollarswithdani]

@sassymisfitdoll That’s very valid. The purpose of the stimulus check is to help Americans get through this difficult time.

But for those who don’t need the money immediately, investing it is a great way to make the money work for us and grow into something more!

[dollarswithdani @dollarswithdani]

All this talk about the US stimulus checks recently, so I ran the numbers.

If you invest the stimulus check for 30 years assuming a 7% yearly return you’ll have:

With a $600 stimulus —> $3,967
With a $2,000 stimulus—> $13,224

So, I’m investing my stimulus check. Are you?

[dollarswithdani @dollarswithdani]

What you should do with a year-end bonus:

1. Save it to build an emergency fund
2. Pay off high interest debt (over 7% interest)
3. Invest into Roth IRA
4. Pay off low interest debt (under 7% interest)
5. Invest into a brokerage account

[dollarswithdani @dollarswithdani]

An important number to know is your net worth

Net Worth = your assets minus your liabilities

Assets are what you OWN. Cash, money in savings & investment accounts, and physical items like a car w/ no loan

Liabilities are what you OWE. Any debt or items you have with a loan

[dollarswithdani @dollarswithdani]

There are 2 ways to make money when investing

1) Capital Gains: if your investment grows in value and you sell it, you can earn a profit

2) Dividends: some companies redistribute their profits to their shareholders, aka pay them for holding their stock

Which way is your fav?

[dollarswithdani @dollarswithdani]

The best way to achieve your financial goals is by automating them.

You just need to set it up one time and you’re set - nothing else to worry about.

I automate money into my savings with each paycheck, and into my Roth IRA monthly.

Which of your finances do you automate?

[dollarswithdani @dollarswithdani]

Treat your savings like a bill - something you need to pay every month. And automate it! #MoneyTalks #moneymatters #savethatmoney