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Networth and Chill with Your Rich BFF

My Immigrant Parents and Money

Networth and Chill with Your Rich BFF

Vivian Tu

News, Business, Careers, Business News, Entrepreneurship

4.41.6K Ratings

🗓️ 31 May 2023

⏱️ 23 minutes

🧾️ Download transcript

Summary

On this week's episode of Networth and Chill, I'm talking about my parents! As the daughter of two Chinese immigrants, my relationship with money and finances was shaped by my parents lived experience and trauma. And to this day their relationship with money has directly impacted my own. Today I'll be telling their story and talking about how our finances looked growing up. Plus, I'll be breaking down how those experiences have affected my own relationship with money and spending.

Got a financial question you want answered on a future episode? Text me or leave me a voicemail at 908-858-3410.

Special thanks to our sponsors:
Olive and June: Use my link to get 20% off your first Mani System.
BetterHelp: This episode is sponsored by BetterHelp. Get 10% off your first month of online therapy by using my link.

Transcript

Click on a timestamp to play from that location

0:00.0

What's up, Besties? Welcome back to another episode of Network in Chill with me, your

0:11.5

host Vivian2, aka your rich BFF and your favorite Wall Street girly. So today we are going

0:17.2

to talk about my parents. Sort of. We're going to talk about how their immigrant experience

0:23.6

shaped their relationship with money, what positive financial values they gave and instilled

0:29.0

into me and also some of the deep-seated financial traumas I have because of who my parents

0:35.3

are. And this is going to be a very vulnerable episode. So even if you can't directly relate

0:40.9

to being a first gen daughter to Chinese immigrant parents, I do hope it helps you do a little

0:46.5

introspection and soul searching on your relationship with money, your parents and

0:51.6

why you think about finances the way you do today.

0:55.1

So I got to start with the backstory. My family is from Shanghai, China and my mom is

1:00.6

currently in her early 60s and my dad's in his later 60s. And to put it lightly, they

1:05.8

had a fucked up relationship with money long before I came into the picture, long before

1:10.3

I even was just like a glimmer of an idea in their eye. And that's largely because they

1:14.9

grew up during the communist revolution. So quick history lesson for those of us who dozed

1:20.4

off during world history in high school, China used to have a nationalist government that

1:26.3

largely seemed to only care about city business interests and rural landlords, while they

1:32.6

were pretty much ignoring all of the suffering of the common people, the peasants, and when

1:38.9

the communists and nationalists went to war, essentially when the communists would win,

1:45.2

they would acquire landlord land and then hand it over to the common peasants. And as

1:52.2

these peasants got more and more land, they started to feel like, ah, wow, this system

1:57.7

is so much better than the nationalist system which never cared about us. And the leader

2:02.9

of the communist revolution was Mao Zedong. And he focused on winning over the peasants

...

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