What My Immigrant Parents Taught Me About Money
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- Опубліковано 20 тра 2023
- For AAPI History Month, I wanted to share more about my family background with you all. @YourRichBFF wasn't always rich. No matter how far I've come, I remind myself of all the sacrifices that my family made for me.
Can you relate? Do you have a similar story? Please share below ❤️
I'm not Chinese or even Asian, but my mother was a first-generation American like you, raised by people who spoke English with strong accents and who had sacrificed everything to come to America. Because her parents in their time were products of the Great Depression, my mom was very careful with her money (and my siblings and I were probably part of the last American generation commanded to "clean your plates, there are people starving in China"). My dad died before he turned 40 and I was the oldest of six siblings, so my mother had to be VERY frugal. She taught us survival strategies for times when there wasn't much money and we learned early how to cook, do laundry, and otherwise take responsibility for running a household together. Even though she was proud, my mother learned how to accept a hand up, not a handout, and she had neighbors, friends and family members who did what they could to help her in hard times. In turn, she was always there for them when they needed help. My siblings and I aren't rich, but we are definitely doing better financially than the generations that preceded us -- because we can stand on the foundations they built for us. I'll never stop being grateful for that.
Most parents try so dang hard. I'm happy to see a video showing respect, appreciation, and understanding of the struggles of parenting and wanting the best for your kids.
IT's craazy how much our parents (I'm also asian. similar background. First gen etc etc) sacrificed for us. The love is so real
OMG you remind me of my niece. She is first generation half Filipino half Chinese. Like all immigrant parents they sacrifice to hopefully elevate the next. Thanks for sharing.
I completely get this. My parents were terrible with money and so when I look at my siblings I can see where we each have a different level of hoarding when it comes to money because we never want to have that uncertainty again. But as we get old we are slowly unpacking and learning to enjoy our hard work. Therapy and self awareness can change your life 😊
As a Korean American, This hit me pretty hard. Thanks for sharing my friend. Love the swim team picture of you. That girl in pink was destined for greatness. ❤
I never realize the biggest struggle I have faced as an immigrant in Canada is my relationship with money until I watched your videos. My life was good in Hong Kong until I had to move to Canada pretty much for the same reason why your parents moved to the US. I no longer make as much money as I used to, and I became so insecure and I felt inferior than many people. I am totally with your parents when it comes to education being financial freedom. I am trying to be an accountant/CPA too but it's because I want, like you, to never have to worry about money again.
Anyway, Instagram shows me your content regularly but I didn't realize how genuine you are as a content creator until this week. Your content is so helpful, genuine/sincere, and just.. You are so kind. Thanks a lot.
I'm first gen but not asian, my parents did the best they could and unfortunately we all struggle through financial illiteracy but learning especially with resources lile yours
I'm 2nd generation Middle European. My grandparents were groomed by the Depression to be frugal. Unfortunately, money and the management of it were not topics of discussion in my family. For me, it has been a learn-as-you-go lifetime project. I appreciate your history and the information that you share.
Putting well-earned money into the stock market can be over emphasize for first time investors,unlike a bank where interest is sure thing! Well, basically time are uncertain, the market is out of control,and banks are gradually failing. I'm working on a ballpark estimate of $5m for retirement, and I've a good 6 figure loaded up for this, could there be any opportunity a boomer like me?
That’s true , I’ve been getting assisted by Jessica Katherine Ellis for almost a year now , I started out less than $200k and I’m just $19,000 short of half a million in profits.
@@donnidonald1895 Please how can I reach her?
I think I should try this woman I've heard so much good news about her
Google her name and reach her out through her page.she understands the job perfectly
*JESSICA KATHERINE ELLIS*
She appears to be well-educated and well-read I ran a google search on her name and came across her website; Thank You for sharing.
Thank you for sharing your personal story. ❤
My dad was first in the family to go to college and became a chemist. My great grandparents were poor Polish immigrants who couldn’t speak or read or write English and my grandmother made all her own clothes to this day at 104 years old. I love celebrating our history and diversity by sharing our family stories because I find we all have way more in common than anyone would ever think. Thank you for your channel I am sharing it with my step son so maybe he will listen and use the information to apply it to his own life and financial decisions instead of ignoring ours. Lol
Thanks for telling your story, I now feel like I will appreciate your content more.
Thank you sharing your story and I loved the vulnerability. As a 1st-gen Filipino American to immigrant parents, you also had me reflecting on how hard it was for my own parents immigrating here in the US.
Frugality was also something I had learned growing up, but my parents never shamed me for spending.
Like you, I also want to be rich, in part so that I can give back what my parents had done for me.
Thank you again for sharing all your stories and tips. You provide so much value!
Awesome video!!!
Putting yourself out there, helps people stop and think.
What they could do to correct their paths.
Thank You🙂
Thank you for sharing your story. I learned a lot from this video and I appreciate your recommendation to reflect on my own life❤
Thanks for sharing! I admire U even more.
This is a wholesome content in a every way! Thank you ♥️
I love this! Thank you for sharing your bringing.
Thank you for sharing your story with us!
Happy AAPIHM!
Thank you for sharing with us. Excellent content as always.
Please do more parts!! My parents were also immigrants, from South Asia, and weren't particularly gifted or skilled. Regardless, I can identify with your experiences a LOT. Your video almost made me cry 😢 in a good way. Thank you.
@YourRichBFF0 shut up grifter
Mine taught me NOTHING .
we just sacrifice our everything to simply survive 😢😢😢
Great Video! Thank You for sharing. and Yes, this helps me to reflect as to why I have the understanding I do, about money. Time to fine tune and refine somethings. Thank Again!
Excellent story, thank you for sharing..♥️♥️
I’m a Portuguese immigrant. My family moved to Maryland, also. I can relate to so much of this! Thank you for everything you teach to make others more financially stable. I hope your parents are super proud of you!
The swimsuit story got me emotional.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly
Achieving significant returns isn't about volatile stocks; it's about effectively balancing risk and reward. Proper position sizing and leveraging your advantage repeatedly are essential, whether you're a long-term investor or a day trader
Certainly, many underestimate advisors until emotions lead to losses. A few summers ago, during a tough divorce, I sought a licensed advisor who, through diligent work, boosted my business from $190k to around $720k despite inflation
wow that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio
Do you mind sharing info on the adviser who assisted you? I’m 40 now and would love to grow my stock portfolio and plan my retirement
The Adviser I'm in touch with is *'Jude Ryan McDonough'* , he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me her strategy works hence my result. He provides entry and exit point for the securities I focus on
Great story and life lessons! I hope you can use your abilities and social media to educate people of your generation!
I love all your videos, shorts, & podcasts! Can you do a video about tips/secrets of buying a new car?
Great video !
You are amazing! and wise ❤
I was lucky enough to have my great grandparents to talk to before they passed away, if you're wealthy, you don't have to show it off. I see many people who spend money that were made on the backs of their parents and grandparents!
I think a lot of these traits transfer over to people who came from very poor and/uneducated families. I’m in my forties but am one of the first in my family to graduate from high school and college. I’ve done well but am by no means rich. I feel guilty buying anything that isn’t on sale - even food.
💪🏿💪🏿All the BEST to your Mom & Dad. Their investment of Love & Time in you paid off.✅❤❤✅
I am a mom, I came from communist Poland, I was a young person mostly unaware of my parents' struggles - as all teenagers are when I came to the USA. And from easy college days, I was thrown into working the lowest jobs - as you, say to survive. with time I was making good money but that idea - you work you eat, you don't work you don't eat stayed with me. I can just put myself in your mom's shoes and this video would be about me and my daughter. I am happy to see that your parents' fear didn't stop you from achieving your goals, like many would like to "see" I am following you - from one wall street girls to another.
Great story. I enjoyed the pink swimsuit story.
❤ Happy AAPI DAY. I am Native American Indian. Thank you. ❤❤❤ VG
Gurl !!! My dad is 66 mom turns 60 this year my Chinese grave orwnra my mom side come south to look for work they are country ppl . My parents met In states OMG gurl ur parents realy smart my parents aren’t but still good w money a beautiful nest egg . yea dad worked at intel . Wow girl and we used credit the right way now parents before 55 they had home kid off everything paid off extra houses land
I'm a big Fan of you n your channel, and I'm also a Asian/immigrant mom living in Canada, could you please share the top three shares that you would buy with 10k ( the money you have sitting in your saving account and not growing).
Greatly appreciated 🙏❤😊
Subscribed !!! Well deserved 👏🙌👌👍❤
every kid in America MUST WATCH, You are a gem , parents did an outstanding job, they should be running the country
My biggest financial influencers were my grandparents who lived through the Great Depression and my ex-husband who was an accountant and former bank officer. From my grandparents I learned the same lessons your parents taught you about the value of money and saving and being prepared and self-sufficient and carrying no debt. How to weigh a purchase decision. How to be a better consumer. From my banker ex- husband I learned about institutional and retail banking and how they make their real money. About which debt to keep, when to pay it off, what debt and fees you NEVER pay, how banks market financial products. Investing. When to recognize & seek out expert advice.
Even to this day I op shop (thrift shopping), scour different price comparisons mostly on the net nowadays, and try to make my $$ stretch all THANKS to frugal parents. BUT, that mindset too has come at a cost as in not being able to let go sometimes and pay the higher price for something least the actual choice/s made, result in a false economy which does happy on the rare occasion. However, I think I'm generally more safe and conservative in my spending currently. I also have no hesitation in investing money in education, stockmarket (targeting feed the people, clothe the people, entertain the people shares), where there is also a clear calculated positive risk. I'm grateful too for the luck and wins from real estate as my motto for "buying in emerging suburbs, on average every 3-5 years, for a house that you would yourself live in", renovate, then happily on-sell it at a fair price to the next owner. My advice is "know your financial appetite BUT be open, excited, and adventurous to new and different prospective financial opportunities. LOVE LOVE your verve, easy, articulate style, and happy disposition Vivien.
This is when you know your long form content can’t crack your short form content we all know what we are here for
This is true for Hispanic families as well pinching pennies and when I grew up I just wanted to spending being tired of being told no we don’t have money for that. Well I learned my lesson and more from watch you and helpful tips to save now and in the long term
Happy AAPI month! I wouldnt trade my Asian or Indian market for anything! I'm Latina 😉 I also was raised with parents in survival mode. You're much smarter Vivian than I ever was. Now at 39, I have changed my money mindset and transitioning out of survival mode. Thank you sister for sharing this!!
4:55 I decide to never buy things in a situation like yours.... Ohhhh the traumas
Hey, I just watched your video and I must say that it was really informative and well-made. I loved your videos. I was wondering if I could help you edit your videos and also make highly engaging shorts for you?
Hii thank you for your content I love reading your emails weekly too! I was wondering if you would create a UA-cam video talking about Roth IRAs, what it is how it works etc? I would really really love to hear what u have to say about it!! Thank you Vivian for your content!!💞💕🌹
Was the family photo shown at 0:07 taken at West Point?
Wisdom is the principle thing....therefore get Wisdom and with all they getting get understanding. --Book of Proverbs
I’m not Chinese, but I eat a lot of Asian food 🤣
I used to be bad with money in my teens and early 20s. But i read finance books and figured out how to leverage my type of job into being able to save lots of money FAST then spending it on investments/assets. After putting it into practice for a number of years I understand the concept of being “pennywise and a dollar foolish”. Your swimsuit story made me think of that and I understand your parents guilt they feel when they remember that. I try not to be that way myself. It’s important to save and invest, but it’s equally important to know what to spend your money on. Sometimes it’s not worth it to cut corners and you have to recognize when those times arise.
Which books do you recomend that helped you the most?
@@mx_moi1964 Rich Dad, Poor Dad and Cashflow Quadrant, both by Robert Kiyosaki. And M.A.C.K. Tactics by Christopher Curtis and Rob Wiser
Omg you are shanghainese too!
I was so curious about ur background im Asian too Laotian chinese
The CCP did the same thing to our family😥Gosh, amazing how strong morals shape our financial commitments.
You looked so cute as a child.
👍✌️🙏✨❤️💜
One toxic parent here, who has been and still is a financial bully
I would love for every "poor" Black American to listen to this story, and then whine again why they are still at the bottom of the socio-economic ladder, victims, BLM and all that.
Your video about your family's immigrant experience is truly an inspiration. ❤
Im an african immigrant and im trying to be millionare at age 15 love you are realy my bff
I will email you
🌈🌈🌈✔✔🌀🌀🌀🌀🌀cảm ơn bạn đã chia sẻ,
chúc bạn thành công vả hạnh phúc💥🌺💥🌺💥🌺💥🌸
What does frugal mean?
economical
You don’t spend a lo loco
How did you get buzzfeed to pay you $600k a year??? I need to know.
Yea yes survival my brothers even won’t buy a new car tog et yelled buy my mom as long as it works my brother. Befor 28 he bought his own house . I am 37 and able to be home after mistakes in relationships and be the princess I am not having to be at a crap job
I think immigrants alone we are same no need to be Chinese but immigrants parents r similar
Glad to see someone with my nose doing well on UA-cam. #flatnoselivesmatters
Asian Heritage month. Does anyone realize that 60% of the world's population is classified as "Asian?" So we're celebrating the majority of the world's population this month, then we do the other 40% next month? Is that how this works?
So no siblings ????
why you roast him like that??
ripped jeans are stupid
Start Early and Make It Practical:
It's never too early to begin teaching children about money. Start by introducing basic concepts and gradually build upon them as your child grows. Here are some practical steps to consider:
a. Allowances and Budgeting: Consider giving your child a small allowance and help them create a budget. Encourage them to divide their money into categories such as savings, spending, and giving. This will teach them about prioritizing and making choices based on their financial goals.
b. Saving and Goal Setting: Teach your child the importance of saving money for future needs or goals. Help them set achievable savings goals, such as buying a toy or saving for a special outing. Provide a piggy bank or a savings account and discuss the progress they are making towards their goals.
c. Money Skills through Chores: Assign age-appropriate chores and tie them to a small monetary reward. This will teach children the value of hard work, responsibility, and the concept of earning money. It also helps them understand that money is earned, not just given.
d. Smart Spending: Involve your child in everyday purchasing decisions, such as grocery shopping. Discuss the importance of comparing prices, finding deals, and making informed choices. Encourage them to think critically about their purchases and consider the value and utility of what they are buying.