International economist Yew-Kwang Ng recently researched cultures on a country-by-country basis to identify why Asians save more. And despite statistics to the contrary, most people don’t think of the Su-Su savings clubs or the hours of number-crunching that many Asian-Americans employ to get a grip on their money. That’s why AAPI personal finance trendsetters like the individuals below are so important: In the name of visibility, representation, and racial/financial equity, they’re sharing their money stories and dismantling “model minority” myths, one financial plan at a time. “My mom inspired me. Legit, I’m not even trying to be funny,” she says. “Watching my mom hunched over, literally scrubbing feet all day (she owns a nail salon), makes me want to grind so hard that she never has to work again. This is the second year I maxed her Roth IRA. She has no clue what any of it means, but she will in 10 years. Asian immigrants (like my parents) associate time with money, and I’m here to break that generational mindset.” Folks come for the cuddly baby photos, but they stay for Chris’s very popular meal prep pictures that are mouthwateringly budget-conscious. For those who can’t get enough of this daddy-daughter finance team, Chris has a self-paced course packed with modules on money principles, pitfalls, and projections. And if you’re not yet ready to invest in a class, some of Chris’ IG Lives are among the best-kept secrets in free personal finance advice for young and growing families. Her personal master plan is to reach financial independence and to relax from work when she hits her early 40s. For now, while she’s teaching others what they can achieve, she’s also teaching women to be empowered after years of feeling financially and professionally discouraged. “As an Asian American female, I’ve always been given the messaging to ‘know my place,’” she says. “And starting my career in two white male-dominated industries (financial services and tech), I never felt I quite fit in. I always thought there was something wrong with me. But I look back now and realize that me being different wasn’t wrong. I’ve spent the last five years forging my own path, but still untangling the decades of feeling like I wasn’t good enough.” Now, the Chinese-American money expert has a seven-figure net worth and a new baby to boot. To manage it all, she draws a lot of inspiration from her parents who “left China with basically nothing and built everything from the ground up. They survived mass starvation in China and yet did not let that limit their mindset. I saw how hard my parents worked as immigrants to learn English, earn money, save and invest money, get me into good schools—and I was inspired to build on the foundation that they gave me and not take everything for granted.” What motivates her to run businesses that help others grow their wealth? “My parents were small business owners that came to define the soaring Asian economy in the 1980s,” she explains. “Growing up in a household supported by a small business means that business and family life were commingled. I never thought taking control of my own finances through self-employment would be difficult, but I was not ignorant about the sacrifices that I would need to make and the risks I had to take. Now that I’ve owned my first business for seven years and started a second one, I appreciate that my parents always exposed us to entrepreneurship ever since I was young.” Now she offers that same perspective to individuals and families led by self-employed and geographically independent earners.
