When Tori Dunlap asks women why they don’t invest, their answer is always fear — fear of starting, fear of losing money, fear of making mistakes.
“That fear is the narrative that investing is hard, scary, or only for men,” she says. Chance. “And of course none of these things are true. But those narratives keep us from learning more about investing. Investing is also a powerful wealth builder.
Dunlap, 28, is the founder and CEO of the first-ever $100K financial education platform for women. Dunlap hosts a business podcast, hosts virtual workshops, and has a book coming out in December. Financial woman.
To her two million followers on TikTok, the woman is known for “fighting the patriarchy by getting rich.”
Everything she does, Dunlap says, is focused on helping women achieve financial independence, whether it’s teaching them how to invest, giving tips on preparing for a recession, or using credit cards responsibly—sometimes wearing a “Shatter the Patriarchy” T-shirt.
“Until we have financial equality, I don’t believe we have any equality for any marginalized groups,” she said. “And I’ve seen in my life. I’ve seen that when I have money, I can let go of toxic situations.
A “shameful” approach to financial education
Dunlap set a goal for herself: to save $100,000 by the age of 25—and she says she did it in just a few months. She quit her corporate job and turned a blog she started when she worked to document her travels into a business.
“I was coming to adulthood and then to womanhood in America, a different America than we all imagined,” she said. “I was trying to figure out what kind of person I wanted to be. What do I want to stop? In my personal life, in my own personal experience, I’ve been realizing that I have a lot of choices when it comes to making money.
Since starting her career, she claims to have reached four million people through social media and her podcast (95% of those people are women). And last year, the business generated $3.4 million in revenue, she said.
Still, Dunlap credits her parents for their help and the financial habits they instilled in her. She says her ability to save money early in life has a lot to do with when she graduated with college debt. She was able to do so in part through financial support from her parents, her personal savings and scholarships. But she also worked multiple jobs during college, and set up automatic transfers from her checking account to her savings each month — “saving on autopilot,” she called it. Dunlap opened a Roth IRA (individual retirement account) at age 22 and tried to max it out every year.
Although Dunlap says her business was successful before she started creating content on TikTok in 2020, she knows the social media presence has pushed it even further. But sometimes it can be a double-edged sword.
“TikTok is incredibly important to our business,” Dunlap said. However, there are still too many people who do not take us seriously.
She continued, “We had to demonstrate our legitimacy in other ways. [like] Through a podcast or a book.
However, her focus on social media has helped her reach audiences she didn’t initially think would be interested, such as Gen Zers. And that’s probably because her content goes beyond what might be considered “typical” financial advice, on financial red flags in a relationship and whether it’s combining finances with a partner.
Her business, podcast and TikToks are all about a “shameless” approach, which she says the financial world lacks.
“Most of the financial advisors up to this point — Dave Ramsey, Suze Orman — are all very cynical and judgmental and reject systemic oppression,” Dunlap said, referring to other financial domains.
She added, “So the reason you’re not rich is because you’re not working hard enough, right? This is the narrative.
There are many factors a person can’t control: gender, race, sexual orientation, Dunlap said, can affect a person’s finances more than other personal choices. That’s why she said she wanted to start her career to give women the resources they need to improve their financial skills.
Dunlap’s website includes personalized financial plans and resources—some free and some not—to help users achieve their goals. The average price of those devices is around $50, but some are as low as $15, she said.
Dunlap’s key tip: Automate everything you can. This means switching from checking to savings accounts, automatic 401k contributions, automatic payments for bills and setting up credit card statements. But beyond that, Dunlap says be patient because not everyone knows how to better manage their money, and learning takes time.
Money is power, she said — and if women can improve their finances, they can help others down the road. But that doesn’t mean they have to give up what they love, she said, especially that she spends a lot on what she loves.
“I love really good food,” Dunlap said. That’s where most of my money goes, trying all the restaurants I can.
Last year, Dunlap was standing outside a museum in Florence when he heard someone yell her name. She said it seemed like they had known her forever. The woman came to her and told her that she was able to leave an abusive relationship because of Dunlap’s advice; She says they are still in touch.
