Vivian Tu left behind a $600,000 salary to become social media's fave financial expert. Yes, you read that right, $600,000. That's how much Vivian was making as a strategy sales partner. Before that, Vivian cut her teeth on Wall Street as a trader with JP Morgan after graduating from the University of Chicago, the best economics school in the world.
During the pandemic, Vivian decided to quit her full-time job to start YourRichBFF because she noticed all of the questionable financial advice swirling around the internet. What started as a side-hustle has grown into a thriving business. Through her podcast, Networth and Chill, her newsletter, EnRiched, and her viral Instagram and TikTok accounts, Vivian shares no-BS financial advice in a tangible, approachable way.
Avery chats with Vivian about how she found a way to stand out as a Wall Street intern, the process of climbing "Cringe Mountain" to find her way to success as a content creator, and whether she's been able to match her former salary as a full-time content creator (we won't spoil that one for you). Oh, and Vivian dishes out some truly great financial tips, of course.
7 Personal Finance Dos and Don'ts
with Your Rich BFF
Do know your worth. You're not bad with money because you get an iced coffee every morning, or splurge on avocado toast on the weekend. "It's a lot easier to create an extra surplus of $5,000 by asking for a raise rather than cutting out every single discretionary expense that brings you an ounce of joy," says Vivian.
Don't wait until your debt is fully paid off to start investing.
Do reframe your relationship with debt. "Debt is not an evil thing," says Vivian.
Don't cancel your oldest line of credit. Downgrade it, upgrade it—but don't cancel it because that shortens your credit history.
Do be responsible with your credit card usage. Do your research first and find a card based on your spending habits to maximize the rewards, like cash back, or points to put towards travel, dining, entertainment, shopping and more.
Don't hold everything in your checking account. At the bare minimum, put your savings into a high-yield savings account. "But if you want to grow your wealth, you're going to have to start investing," says Vivian.
Do talk to your friends about money. "It should not be embarrassing for regular people to talk to each other about what we make, what we're spending, and how we're saving and budgeting, and what we're doing with our money," says Vivian.