The True Price Tag of Fitting In | Vivian Tu EP 596

The Daily Motivation

Lewis Howes

Education, Self-improvement

4.8 • 893 Ratings

🗓️ 26 April 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Vivian Tu grew up with immigrant parents who instilled a scarcity mindset around money. She struggled with feelings of not belonging when she got to college and started making purchases to fit in that weren't financially responsible. After some costly money lessons, Vivian realized she needed to build her own value system around money separate from her family. Understanding money's role in her life has been an ongoing journey of aligning her spending and savings with what really matters to her.

Transcript

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0:00.0	Hi my name is Lewis Howes and welcome to the Daily Motivation Show.
0:07.0	What's the difference between learning how to save your money well and valuing your money?
0:17.0	The difference is knowing when you're willing to trade money for something or an experience or an item or time. I did not have a good barometer of like at what point that value equation made sense. I knew how to save I was a great saver. I was always saving.
0:34.6	Someone saying I was saving too hardcore. But developing your own system of value is as important as it is to develop your own system of values
0:46.0	because that's going to be how you determine every decision you make in your life.
0:50.0	Whether that be taking a job that's an extra 30 minutes away from home.
0:54.0	You want to spend that time with your kids or you want to drive?
0:57.0	You want to go on that one extra vacation or would you be that much closer to
1:02.0	retirement?
1:03.0	It sounds like people don't know what their true values are around money or even also
1:07.2	what their value system is around money, time, experiences, and their purpose of what they want to do with their time every day.
1:15.0	When did you realize that you had a challenging or unhealthy relationship with money?
1:20.0	Was it around this time or did it continue when you got into your career as well?
1:24.6	And what did you start doing to get out of that?
1:28.4	When I got to college, it was the first time I was seeing the world. I grew up in the suburbs of Maryland in what I would classify as an upper middle class neighborhood.
1:38.0	Of the community, I would say my family was slightly below median in terms of income and in terms of
1:47.4	net worth. In this community. In this community. In this community.
1:50.5	Roughly everyone around us was kind of the same.
1:55.8	When I got to college, I went to Chicago,
1:59.3	it's one of the top universities in the country,
2:01.7	and that attracts a very, very specific set of the top universities in the country and that attracts a very very specific set of the population and suddenly you have kids whose parents are
2:09.9	Titans of industry who own companies not work at companies.
	...

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