How To Practice Financial Self Care, According To “Your Rich BFF”

When one hears the term “self-care,” visions of lavender-scented, suds-y bathtubs, sheet masks, and meditative yoga stances likely come to mind. But, what about “financial self-care”? What does that terminology elicit? Budgeting apps, perhaps? Carefully monitored savings accounts? Coupon -clipping? Well, as it happens, all these things are not off the mark. In fact, just like an efficient beauty regimen, financial self-care, is all about consistency — and the baby steps you take regularly to help you live a more economically secure life. This principle is what personal finance author and educator Vivian Tu (aka “Your Rich BFF”) has hinged her ultra-popular platform on.

Rooted in Tu’s personal journey from Wall Street equities trader to content creator, she aims to demystify complex financial concepts for everyday audiences on TikTok and Instagram in an effort to make economic security a more digestible — and entertaining — idea. Because everyone should access to the finer things in life, right?

In fact, with this sentiment in mind, Tu recently partnered with Marshalls on its luxe Upgrade Lounge in NYC’s JFK Terminal 4 over the Memorial Day holiday. Weary weekend travelers were invited to relax in style — for free! — and enjoy luxe seating, travel essentials, giveaways, refreshments and snacks, and a beauty bar stocked with skin care products. (For those who missed the pop-up, you can still get in on the action via Marshalls’ The Upgrade Shop, which will be open all summer long.) “What's so special, I think, about The Upgrade Lounge by Marshalls, is the fact that, normally when we're traveling, we might pay high prices for low comfort, all with some mediocre food in between,” explains Tu to TZR. “It's really unfortunate, because even though we're spending all of this money, we have to make some really big compromises to actually travel.”

To gain access to exclusive airline lounges, travelers typically have to achieve a specific membership status, pay for a pricey first-class ticket, or sign up for a high-ticket credit card with a chunky annual fee. “We all deserve the upgrade,” says Tu. “[This pop-up] is just really an opportunity to remind everyone that they deserve a moment to kick up their feet, relax, and refresh. This enjoyable travel experience and access to the good stuff is for all of us.”

Said good stuff doesn’t stop at travel. Ahead, Tu offers some actionable tips on how to approach your finances easily and practically — like a customized skin care routine — so you can indulge in life’s little luxuries sans stress.

Pick The Right Strategy For You

Personal finance is just that: personal. “I have a very specific skin care regimen that I follow because I don't want to break myself out,” explains Tu. “We have different skin care routines and that is A-OK. We are each allowed to have our own special relationship with our skincare. And the exact same thing can be said with our finances.” The money expert expands on this, explaining that when it comes to your wallet, comparison can truly be the thief of joy. Because what works for someone may not work for you.

“You need to find the regimen that works for your lifestyle, works for your income, works for how your family spends,” she says simply. Perhaps, for you, this means an automated savings account, debt managing app, employing a financial advisor, meal planning, or setting up an emergency fund. Whatever avenue(s) you take, they just need to make sense for your specific economic situation.

Don’t Overload Yourself

Often, when empowered to set a goal in motion, ones human instinct is to dive in head first and make several changes at once. This, unfortunately can often set you up for failure as it can mean a shock to your day-to-day life that you just aren’t prepared for. “You don't suddenly go from having no skin care routine to having a 20-step skin care routine,” explains Tu. “What I say about financial wellbeing, compared to every other wellbeing, is that it's also about baby steps. Maybe the first step in your skin care routine is you simply start putting on an SPF every morning.”

The same goes for finances, as you don't suddenly go from being struggling with money to a perfect budget overnight. “Just do one small thing that makes that improvement,” suggests Tu. “And then maybe next week, you add one more thing on. And maybe the week after that, you add one more thing on.”

Take Care Of Yourself Today

“The same reason why we have our beauty routines and our skin care routines today is to hopefully be able to create some preventative measures that are going to help us save on some of those more expensive treatments and procedures later on,” explains Tu. “It's the same as going to the dentist. It's always cheaper and easier to go every six months for your routine cleaning than it is to get a root canal or a crown put in.” Similarly, with your finances, making a smart healthy choice today — like an IRA or high-yield savings account — can help you avoid a position of duress later on. “It can actually lead to you completely bypassing those problematic situations in the future,” says Tu. “So, why not have today you take care of future you?”

Don’t Be Afraid To Indulge ... Wisely

Making responsible financial decisions doesn’t mean you have to completely deprive yourself. Yes, you can still book a vacation to that luxury wellness resort you’ve been dreaming of or by that Loewe handbag you’ve been eyeing since spotting it on last season’s runway. The key here is to be mindful. “You are allowed to buy something just because you like it, and because you want it, and you think you're going to get a lot of use out of it,” says Tu. “That said, there is a saying that my mentor taught me that I absolutely live by: ‘Buy it nice or buy it twice.’”

This philosophy is particularly relevant to a fashion expense. “You can either get an overpriced piece of fast fashion that's going to be cute for one season, or you can make really smart investments in your wardrobe,” explains Tu. “Instead of just buying something that might be cute for three weeks or one year, I want to buy staple pieces that I can pair with 1,000 different other things that are already in my closet, that are going to look cute this year, next year, and the year after that.”

Think about the items and purchases that are going to serve you in the long haul and hold their own over time in terms of quality, durability, and versatility. “Because the more wears you get out of something, the lower the cost per wear actually is and the better value it is,” says Tu.