Latest news with #VivianTu
Yahoo
5 days ago
- Business
- Yahoo
How to navigate the awkwardness of a wealth gap summer with your rich friends
Summer is here, bringing with it sun, sea, sand, and good times — if you can afford it. The pressure is on more than ever in the summer to say 'yes' to that group vacation at a glamorous overseas location, the festival that will set you back hundreds of dollars, or a weekend in whatever is your town's nearest version of the Hamptons. Many Americans are struggling with the cost of living. This year, about a quarter of Americans (24 percent) will not have a vacation because of the cost, according to a recent survey. Of those who are planning to travel this summer, 29 percent said they will take on debt as a result, the survey by financial-comparison website Bankrate found. The latter is 'terrifying' to former Wall Street trader-turned personal finance guru Vivian Tu, better known as YourRichBff, who advises her millions of followers on TikTok and Instagram. 'It might be amazing to go on that trip today, and you might have so much fun,' 31-year-old Tu told The Independent. 'But how are you going to feel when you spend the next two years paying for a vacation that lasted seven days? I think that's a pretty sobering question.' Navigating the wealth gap with rich friends when you are not making anywhere near the same salary is awkward, uncomfortable, and seems to only be getting harder thanks to social media. Sam, 28, is originally from East Texas and now lives in Los Angeles. 'I'm a first generation college student, low income and trans,' Sam, who attended an elite college on a diversity scholarship and asked to only be identified with their first name, told The Independent. 'In just about all of my friendships, there's a wealth gap and that pretty much started in undergrad.' They make approximately $48,000 after taxes working as a guidance counselor at a California university and feel 'isolated' by the wealth gap in their friendship group. 'I'm coming into this elite college straight off of food stamps and all that stuff,' Sam said. 'Most people's families [at college] were upper-middle class to rich. One of the people I know, his family owns a fleet of private jets. So coming from a rural area, and then being put into that was kind of weird.' Sam said summers were particularly bad, and that trend has continued post-college. 'Everyone I know was going on these big vacations and all these concerts,' they said. 'I wasn't even able to go to a concert until my first year of undergrad. I've never even left the United States for a trip.' Sam doesn't get invited on vacations by their wealthier friends. 'It's probably because they know that I can't afford it,' Sam said. 'Not once have I ever been invited on any of these trips. I always get the photos. I always see the Instagram posts.' 'It does make me feel left out,' Sam added. Personal finance expert Tu says that social media also has a lot to answer for. 'It just starts to set an incredibly unrealistic expectation of how often we should be traveling, how much we should be spending, and how frequently we should be doing all of that,' she told The Independent. Sam relates and said that social media has become a space for people to 'get Instagram likes' and 'show off their experiences' to others. 'I think that's just a really dangerous situation for people who are financially vulnerable,' Sam said. 'We're so desperate to be a part of culture, to be a part of the big moment. You want to have that story that everyone else has…and you're literally borrowing thousands of dollars to sit in an uncomfortable stadium to do it because your friends are doing it, or because you're missing out.' That feeling of disconnect is similar for 32-year-old Michelle, who lives in Nashville and works as a communications and events manager for a non-profit. Michelle, who makes around $65,000, and her boyfriend had a baby boy in December and can no longer keep up with the spending habits of their wealthier friends. 'They just so frivolously spend money — like, they'll randomly buy a new car, or jet skis or a brand new boat,' Michelle told The Independent. 'It's just really mentally tapped to try to appear like I can keep up with them.' Before she had the baby, Michelle said the group went on a $2,000 trip to Disney World that she couldn't afford. 'When I first started being exposed to this friend group, I would push my bank account, and I would really push my limits just so that I could hang out,' she said. 'And it really kind of messed me up. It maxed out one of my credit cards.' Since having a baby, priorities have changed. 'I am trying to figure out how to make sure I can get formula for my baby, and make food at home. I don't want to go out to eat every single time that we hang out,' she said. 'Every single month our bank account, it's just like we're at like the bottom. So it's very much like paycheck to paycheck,' she added. Her boyfriend was once a high earner but he lost his job in the last year. He is now getting back on his feet and working again, but money has occasionally become a source of tension in the relationship, Michelle said. 'We've had a lot of fights this year about money, and that has limited what we're going to do this summer.' The expense of weddings has also become a bone of contention, particularly if the nuptials involve travel. In 2024, 18 percent of couples hosting a destination ceremony abroad, according to The Knot's 2025 wedding survey. Michelle was recently a bridesmaid for two close friends, with one wedding in Florida's Key West and another in upstate New York, setting her back at least $3,000 per wedding, including travel and accommodation. 'I would do it a million times over for those girls, but it really does push your budget.' The new mom says that financial stress has been impacting her mental health, a trend more therapists are noticing with patients. 'People may not come to see me based on these feelings, but they most certainly come up in conversation,' said Aja Evans, a therapist who specializes in financial therapy. 'Comparison and pressure to keep up with friends is very common and unfortunately tends to skew how people look at themselves and their finances.' Evans advocates being honest with friends about your financial situation, which can be a way of 'breaking up the shame and isolation' that comes with hiding it away. 'Being honest with yourself around what you can and can't do, remembering that you are still a valuable and worthy friend despite how much money you have is very important,' Evans said. 'Attempting to disconnect your self worth from your net worth can also be helpful. Then, have a conversation with your friend.' 'Letting them know how you feel, what you are doing in terms of your financial health and how you two can navigate the differences,' Evans added. 'Now, this is very hard, being vulnerable is complicated and nuanced, so go easy on yourself.' Tu, who heads up her own financial education and advice company, says it is essential to consider what is 'truly going to bring you value' and not hurt you in the future at the same time. She has a handy tip that can help visualize whether that summer impulse purchase – be it new clothes, a night out or a trip – is worth it. 'I call it 'YourRichBFF is it Worth it? Equation,' Tu said. 'Figure out how much your hourly take-home pay is, and that hourly take-home pay, essentially, is how many hours you'll need to sit at your desk to afford something.' 'Say your hourly take-home pay is $20, you go to a fancy store and you want to buy a pair of designer leggings for $100,' Tu explained. 'You have to sit at your desk for five hours. Ask yourself, are you willing to sit at your desk for five hours so that you can afford those leggings? And in some cases, the answer is yes. In some cases, the answer is no.' 'You need to be honest with your friends about your financial situation, but also you need to provide an alternative,' Tu said. 'Because what's going to happen is if you continuously keep telling your friends, 'no, I can't come, I can't afford it,' suddenly they're going to stop inviting you to stuff. 'Once they stop inviting you to stuff, you are going to feel incredibly isolated,' she added. Tu doesn't knock hard-pressed families who have to put basic necessities like food on a credit card. But she advises others to resist the temptation to splurge on 'the fun stuff' if it's not affordable it right now. 'There are certainly folks in our country who are putting basic necessities like food on a credit card, not because they want to, but because they need to feed their families,' Tu said. 'This is not that. What I'm saying is, the visits to the nail salon, the drinks out with girlfriends, the fun stuff, if you are not in a position to be spending on going to keep you broke,' she said. 'We all have to know our limits, and it's not fair,' Tu added. 'But some people out there have parents who are paying their rent.'
Yahoo
21-05-2025
- Business
- Yahoo
‘Your Rich BFF' Vivian Tu: This Is the ‘Worst Finance Advice I've Ever Seen'
Have you ever heard of a NINJA loan? No income, no job, no asset loans — known as NINJA loans — are highly predatory loans that contributed to the 2008 recession. However, countless influencers are flaunting this loan product as a great way to get Airbnb businesses off the ground. Be Aware: Check Out: GOBankingRates will explore 'Your Rich BFF' Vivian Tu's stance on this strategy and why it's the 'worst finance advice' she's ever seen. This article will cover the dangers of NINJA loans, the issues with cash advances and the problem with banking your financial success on Airbnb. NINJA loans give borrowers access to funds despite having no proven way to repay the amount. Lenders do little due diligence to verify your credit, income or assets. These loans were extremely popular before the 2008 financial crisis, making them one of the top contributing factors. Borrowers took out funds they couldn't repay, resulting in high default levels. To avoid another financial crisis like 2008, the Dodd-Frank Act placed stricter regulations surrounding NINJA loans. For one, if someone is offering a NINJA loan, look into the terms. If the lender isn't credible, you could end up in financial trouble. Second, if you don't have any income, the likelihood of repaying the loan according to the terms is low, which can ruin your credit and lendability. Read More: Cash advances are another predatory loan option. Credit card companies allow you to take cash advances with a higher interest rate, usually between 20% and 30%. Like a NINJA loan, if you don't have steady income to repay the loan, your credit score and future lendability could suffer. Even if a credit card company offers a 0% APR for an introductory period, there's no guarantee that you will be able to afford the loan once this promotion ends. Credit card debt is one of the top contributors to bankruptcy filings. It's best to avoid taking out debt you might not be able to repay. Airbnb has been all the rage lately, with influencers telling you how they quit their jobs from just one property. What these influencers don't tell you is that operating an Airbnb is money and time-intensive. There's no guarantee that your Airbnb listing will do well. Instead of banking your success and ability to repay cash advances and NINJA loans on an Airbnb property, look for more stable income streams. A regular W-2 job is nothing to be ashamed of. It can provide you with the stability and security you need to set a strong financial foundation. Avoid these predatory strategies if you're just graduating from college and looking for what's next. While they may have worked for one person, there's no guarantee that starting an Airbnb business using NINJA loans and cash advances will be successful for you. Instead, stick to the basics. Find a stable job, track your finances and invest for your future. More From GOBankingRates 5 Cities You Need To Consider If You're Retiring in 2025 Sources TikTok, 'DON'T fall for this money TRAP!!' This article originally appeared on 'Your Rich BFF' Vivian Tu: This Is the 'Worst Finance Advice I've Ever Seen' Sign in to access your portfolio
Yahoo
11-05-2025
- Business
- Yahoo
Your Rich BFF Vivian Tu: Why ‘Everyone Is Freaking Out' About the Bond Market Amid Tariffs
Are you feeling jittery about the bond market? You're not alone, and in fact, your instincts might be right on the money. As Your Rich BFF founder and CEO Vivian Tu explained in a recent TikTok video, savvy investors are avoiding the bond market, indicating there may be a deeper problem with the U.S. financial markets. Find Out: Read Next: 'We're seeing a ton of volatility in the stock market,' Tu said. 'Typically, that would mean investors would flee to bonds as a safe haven. But instead, this go-around we're seeing investors sell off U.S. government bonds, signaling a potential loss of trust in the U.S. as a safe financial investment.' When investors start selling off their U.S. government bonds, it creates a domino effect. Widespread bond selling means that prices go down, Tu explained. As bond prices drop, the yields — the interest payments that bondholders receive — will increase. Yields and bond prices are always in an inverse relationship: When one goes down, the other goes up. This can turn into a vicious cycle, where higher yields drive bond prices lower, leading to higher yields, and so on. It doesn't stop there, Tu said. High yields on government bonds also drive up interest rates. As interest rates go up, it gets harder to take out a loan, which means ordinary Americans may struggle to get a mortgage, a car loan or a small-business loan. Bonds are a form of loan, as Tu explained. When you buy a government bond, you're effectively lending money to the government. In return, you receive interest over the term of the loan, and then the government repays the loan in full. Typically, bonds come with a fixed interest rate. The face value of the bond, also known as the 'par value,' is also fixed. So far, so good. It gets complicated, though, if you want to resell your bond before the end of the term. In an uncertain market, the value of government bonds can fluctuate a lot. When interest rates go up, bond yields increase, and the par value of bonds decreases. If you try to resell your bond when interest rates are high, you may not be able to recoup the bond's full value. A bond 'selloff' means many investors sell, or dump, their bonds in a short period. A major selloff causes turmoil in the bond market and the larger economy. Finance experts say a bond selloff is a sign that people don't trust the U.S. government, so it can indicate that the economy is in bad shape. When investors start selling off stocks and bonds at the same time, it can create chaos in the financial system, experts say, making it harder to predict what will happen next and plan an effective financial strategy. Even if you're not an investor, changes in the bond market can impact your life, wallet and future. When bond prices fall, yields go up. That leads to higher interest rates, which could impact anyone with a home loan, car loan or credit card debt. It could make it more difficult for ordinary people to buy their first home or finance a new car, for example. It's not all bad news, though. Rising interest rates are good for anyone with a money market account or high-yield savings account. You'll just want to stay mindful of your own situation as any of these changes occur. More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most How Far $750K Plus Social Security Goes in Retirement in Every US Region How To Get the Most Value From Your Costco Membership in 2025 12 SUVs With the Most Reliable Engines Sources Vivian Tu, Your Rich BFF, TikTok This article originally appeared on Your Rich BFF Vivian Tu: Why 'Everyone Is Freaking Out' About the Bond Market Amid Tariffs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
07-05-2025
- Business
- Forbes
Vivian Tu: Redefining Financial Education For A New Generation
V ivian Tu, better known as "Your Rich BFF," has emerged as one of the most accessible and impactful voices in financial literacy for the digital generation. After beginning her career on Wall Street as an equity trader at J.P. Morgan, Tu pivoted to creating financial education content that demystifies complex money concepts for everyday people, particularly targeting young women and communities traditionally underserved by the financial industry. With over 10 million followers across social media platforms, Tu has built an empire based on straight-talking financial advice that breaks through the intimidation and privilege often associated with wealth-building. Her meteoric rise from creating TikTok videos in her apartment to founding a multi-million dollar media company, Your Rich BFF, Inc., landing a bestselling book deal with "Rich AF: The Winning Money Mindset That Will Change Your Life," and securing partnerships with major financial institutions demonstrates how her authentic approach to financial education has struck a powerful chord with audiences seeking guidance in an uncertain economic landscape. The journey from Wall Street trader to financial education powerhouse wasn't a straight line for Tu. Her persistence stems from personal financial missteps and the determination to ensure others don't repeat them. After experiencing the exclusionary culture of finance firsthand, Tu committed to democratizing money knowledge, persevering through initial skepticism about her unorthodox approach. "When you are young, you are insecure, not sure what is going on, throwing around money to be perceived better," Tu reflects on her early relationship with finances. "I believe in the mantra 'Don't spend money you don't have, to impress people you don't even like.'" This hard-earned wisdom came through trial and error. "For those in their early 20s who want to look cool and rich... I wanted to have the designer bag and nice shoes," she admits. "But it didn't make the cool girls like me, didn't turn me into a supermodel... it diverted money away from activities. I had to forgo dinner with friends because I had bought something." Tu's tenacity manifested in her willingness to be vulnerable about these mistakes, using them as teaching moments rather than hiding them. When her initial financial content didn't immediately gain traction, she continued refining her approach, maintaining consistency in posting and messaging when many would have abandoned the effort. Now at 31, Tu sees the fruits of her labor. "Sending my parents on an all-expenses-paid trip," she shares as an example of meaningful financial freedom. This achievement represents years of disciplined financial practices—the very lessons she now teaches millions. Tu's determination is perhaps most evident in her commitment to changing the finance industry from the inside out, creating space where traditionally excluded voices can find financial empowerment. By consistently showing up with authentic, actionable advice despite pushback from traditional financial gatekeepers, she's proven that resolve can transform personal lessons into global impact. PURPOSE Tu's approach to both personal finance and business growth reveals an analytical mind that balances opportunity with discipline. Recognizing the gap in financial education for younger generations, she strategically positioned herself as the accessible, judgment-free "BFF" rather than an intimidating expert—a crucial distinction in an industry often perceived as exclusive and condescending. "When you are a young person, you face two main problems: not enough money coming in and too many places to take your money," Tu explains, demonstrating her ability to distill complex issues into relatable frameworks. This strategic simplification of financial concepts has become her hallmark. Tu advocates for purposeful career planning over the common "follow your passion" advice. She references the "Ikigai concept" to illustrate her strategic approach to career satisfaction: "Your purpose is found when you are able to find the intersection of what the world needs, what you're good at, what you like, and what you can get paid to do." With characteristic candor, she adds, "The world doesn't need more DJs." Her decision-making framework extends beyond personal finance into business leadership. "Instead of thinking of price, think in terms of value," she advises. "Divide what you're buying by your per-hour rate." This calculation helps prioritize meaningful expenditures while eliminating wasteful ones. As her platform has grown, Tu's deliberate planning has evolved. "As I've gotten older, it is time that I value most," she reflects, noting that money is merely a tool to create freedom and meaningful experiences. This perspective informs her business development strategy, which prioritizes scalable impact and sustainable growth over short-term monetization. Her leadership reflects the same clarity: "My leadership style... I will never ask you to do something that I wouldn't do or that I haven't already done." This principle has guided her management of a rapidly growing team while maintaining the authentic connection with her audience that fueled her initial success. PASSION While financial education is Tu's professional focus, her passion clearly lies in empowering others to achieve independence and confidence through financial literacy. This stems from her own transformative experiences and the recognition of how proper financial knowledge creates freedom, particularly for women and minorities. Tu challenges the notion that money management must be confusing or boring. Her enthusiasm for making financial concepts accessible shines through in her content, where complex topics become conversational, approachable and even entertaining. This dedication for simplification has resonated with audiences tired of traditional financial advice. "The most humbling experience in managing people is that I have to yell at my full-time employees to take PTO," she shares, revealing her desire to create a workplace culture that values well-being alongside productivity—a stark contrast to the burnout-inducing environments common in finance. Tu speaks with particular passion about mentorship, crediting her own success to those who guided her early career. "Role models and mentors—and a sponsor in particular—[are] life-changing... It can be the difference whether you succeed or not. Bonus points if you can find one that you like," she advises. "My first mentor helped me with everything from saving money on hotels to understanding my 401K." Her most passionate advocacy centers on representation in finance. Describing her first day on Wall Street, surrounded by "30-35 white men" as "the only woman and Asian person," Tu emphasizes how seeing successful women of color transformed her outlook. "The experience changed my brain chemistry... seeing the lived reality of someone who looked like me that got to win and got to be rich." This representation forms the core of Tu's mission. "What you had was freedom, and did not need to ask a man for money," she says about her early role model. "The power of a role model is for you to see what you can and will become, in your own special way." BUILDING A FINANCIAL LEGACY In just a few years, Tu has transformed from Wall Street trader to one of the most influential voices in financial education for a new generation. Her approach—combining no-nonsense advice with genuine empathy and cultural awareness—has filled a critical void in the financial literacy landscape. By sharing her own mistakes alongside practical strategies for building wealth, Tu has destigmatized money conversations for millions of followers. As she continues expanding her media company and advocacy work, Tu remains committed to her core mission: creating financial confidence for those historically excluded from wealth conversations. "The trauma bond of working together," as she describes her connection with her audience, has formed a community where financial education becomes a vehicle for true empowerment. Through persistence, strategic thinking and passionate advocacy, Tu isn't just teaching people about money—she's reshaping what financial success looks like for an entire generation. Explore The Series And Meet More Mould-Breaking Creators CREDIT Photographer: Brendan Wixted
Yahoo
25-03-2025
- Business
- Yahoo
Marshalls Expands Efforts to Help Women Access the Good Stuff™ in Life
To help reach women across the country, Marshalls will debut dynamic new online content and bring the Marshalls Good Stuff Social Club to three new cities this year FRAMINGHAM, Mass., March 25, 2025 /PRNewswire/ -- Marshalls (NYSE: TJX) today announces the expansion of the Marshalls Good Stuff Social Club to three new cities across the country and introduces engaging short-form video content to its online Tools & Resources Hub. Now in its third year, Marshalls remains dedicated to its mission of helping to close the access gap – the lack of access to tools, resources, and communities that help enable women to live the life they want, whatever that means to them. Following the success of the NYC, Atlanta, and Chicago events, the Marshalls Good Stuff Social Club is heading to Houston, Texas on Saturday, April 5th. The all-day inclusive event features programming designed to help women feel financially empowered, embrace self-worth, turn connection into valuable community and show up with confidence. Later in the year, Marshalls will bring intimate Social Clubs to Detroit and Phoenix, offering women in these communities access to local leaders and experts to help grow their networks. Women everywhere will be able to access the expertise of the Social Club speakers like Vivian Tu, New York Times best-selling author and CEO & founder of the financial equity phenomenon, Your Rich BFF, and Keltie Knight, Emmy Award winning E! News co-host and host of the LadyGang podcast, by visiting the Tools & Resources Hub at In addition to existing content from past Good Stuff Social Clubs, Marshalls will introduce newly curated modules on the hub, led by inspiring changemakers helping provide women nationwide with actionable insights to help them thrive in the most important areas of their life. "As we celebrate the third year of the Good Stuff Social Club, we are deeply inspired by the incredible women we've met at our events over the past two years and are committed to providing impactful programming to help women access the good stuff in life," states Sonya Cosentini, Vice President, Brand Marketing, Marshalls. "By continually enhancing our programming – both in person and online – we hope to provide more women across the country with access to valuable tools, resources, and communities that support their success." On Saturday April 5th from 9am - 6pm CT, the Marshalls Good Stuff Social Club will take over Reeves Art + Design (2415 Taft Street) in the Montrose neighborhood of Houston. Joining Marshalls will be longtime partners Vivian Tu, Keltie Knight, and Karen Blanchard, fashion stylist and influencer, as well as sessions with Deepica Mutyala, Houston-raised beauty entrepreneur, and Katya Echazarreta, electrical engineer and first Mexican-born woman to go to space, to name a few. In addition to an impactful day of powerful speakers, the Houston event will feature renowned local food, a chance for attendees to capture their headshots and personal color analysis from local women-owned businesses. Visit to register to attend on Saturday, April 5th in Houston. Tickets are free of charge. All session sign-ups are on a first-come, first-serve basis as availability is limited: Host: Keisha Nicole Houston-based radio host and Houston Texans' in-stadium emcee, Keisha Nicole, will host the day's activities, including participating in select sessions during moderated Q&As to foster an engaging conversation between session leaders and attendees. Rewrite Your Financial Story with a "Rich Mindset" Vivian Tu, financial mastermind and CEO behind the Your Rich BFF brand, leads an interactive session where you'll learn how to rewire your mindset around wealth, uncover the financial principles key to a "rich mindset", and kickstart your journey to developing a more empowered relationship with money. Harnessing Your Superpowers to Build a Personal or Professional Brand Join Keltie Knight, Emmy Award winning E! News co-host and host of the LadyGang podcast, for some real talk, personal stories, and practical strategies for building your personal and professional brand with intention. Get ready to elevate your brand and step fully into who you are — authentically and unapologetically. The Pivot Playbook: Finding Joy in Life's Detours In this uplifting and inspiring workshop with radio and podcast host, TV personality, and author Tanya Rad, you'll learn how to embrace life's twists, reframe setbacks, and step confidently into new opportunities. Mission: Mentorship – An Astronaut's Guide to Breaking Barriers & Propelling Upward Together Katya Echazarreta, the first Mexican-born woman in space, knows what it takes to navigate the world of STEM, overcome biases, & build a career that defies expectations. Being a woman in a male-dominated field comes with challenges and the right guidance isn't just helpful — it's mission-critical. Power Dressing: Own Your Style, Own the Room Join fashion stylist and influencer, Karen Blanchard, and Houston-based content creator, Tolani Eweje, for an interactive session about mastering the art of power dressing. You'll walk away with practical tips to dress with purpose, presence, and personality. Turning Passion into Profit: Building a Purpose-Driven Business Without Losing Your Spark In this fireside chat with renowned radio personality Keisha Nicole, Houston-raised beauty entrepreneur Deepica Mutyala will explore not just how to build a business that resonates but also how to determine if turning what you love into a livelihood is the right path for you. Consumers around the U.S. can continue to access digital tools and resources and learn more about Marshalls' mission on Details for the Detroit and Phoenix events will be announced later this year. About Marshalls: Marshalls is one of the nation's leading off-price family retailers with more than 1,200 stores spanning 48 states, D.C., and Puerto Rico, and online at Since opening its first store more than 60 years ago, the Marshalls name has become synonymous with off-price shopping. Marshalls shoppers can find an amazing selection of high-quality, on-trend, brand name and designer merchandise for women, beauty, accessories, footwear, home and more - all at amazing prices. For fashion tips, style alerts, and more, follow us @Marshalls on Instagram and TikTok. Visit to shop online and locate your nearest store. Media Contact: mgssc-media@ View original content to download multimedia: SOURCE Marshalls Sign in to access your portfolio
