Money Musings 💭 investing myths, debunked ❌
For many people, the stock market is a scary and intimidating place. That’s by design. For decades it was designed to keep people OUT.
I’m partnering with Public.com on a free investing workshop to get more people IN (to get you IN).
If we’re not investing, we’re missing out on hundreds of thousands - if not millions - of dollars over the course of our lifetime. And that’s NOT okay.
Public is a new investing app that exists to let people IN and do so in an inclusive and educational way. And, they’re doing this by busting some of the commonly-held myths you might have about the stock market, like…
❌ You need to be rich to invest. Apps like Public offer fractional investing, which means you can start small. Can’t afford one share of Amazon at $3,000 a share? Most of us can’t! But on Public you can buy a smaller slice of stock for as little as $1 or $5.
❌ If you didn’t study finance, you’ll never learn. Not true. Public did a study and found that 55% of investors are self-taught. Everyone needs to start somewhere. There’s lots of great educational content on Public to arm yourself with knowledge. Plus, their in-app education allows you to learn by doing (which you know I think is the best way).
❌ Talking about money is taboo. You know that’s not the case here. We need to get conversations about money and investing into the open so we can benefit from shared knowledge. Public puts a social layer on the stock market so you can discuss investment ideas with friends and others in the community, which happens to be 40% women.
We’re busting all the myths in our workshop by talking about money ✅, educating you about investing ✅ and giving you the tools to start ✅.
The workshop is on May 18th from 5 - 6 pm EST. If you can’t make it, sign up anyway to get the recording.
Once you sign up for the workshop, you don’t have to wait to get started on Public. Here’s $10 of free stock.
*This is not investment advice. Valid for U.S. residents 18+ and subject to account approval. See Public.com/disclosures/.
MONEY MOVE OF THE WEEK
PAY YOURSELF FIRST. How we traditionally save money doesn’t work. We earn money, pay everyone else first (our bills, 💡live our life 🍽, even get gifts 📦) and then we hope there will be money left to save (aka pay ourselves). There’s not. We earn more and think we’ll finally start saving. Still no. What gives?
To pay ourselves first, we want to treat saving like any other expense. Set up an automatic transfer to your new online savings account where it’s out of sight, out of mind. If you’re thinking, "Ashley, there’s no way I can save… I’m living paycheck to paycheck," start with as little as $5 per paycheck. Check in and up the ante when you don’t miss it.
YOU GOTTA SEE THIS
EQUAL PAY DAY FOR MOTHERS. Today is Moms’ Equal Pay Day. It’s a day to raise awareness about the wage gap women with children experience and to discuss how it disproportionately impacts moms of color.
This year, we’re also thinking about the nearly 3 million American women that have left the labor force over the past year. The reason? Pay inequality, undervalued work, and antiquated beliefs around caregiving.
We’ve seen a pandemic-induced increase for childcare at home, disproportionately pushing working mothers - often with partners earning more than they do - to leave the workforce to take on those responsibilities.
You’ve heard it from me before, but we need to see major changes from the top. We desperately need to: 💰 Pass policy for equal pay. 💰 Raise the minimum wage.💰 Mandate paid parental leave, paid sick leave and paid sick days. 💰 Provide affordable, high quality childcare. 💰 Perform company pay equity audits. 💰 Revamp internal hiring and promotion processes. 💰 Address the unpaid labor of women. 💰 Shift cultural gender norms and attitudes from a young age.