Growing up with Asian parents, you might have a frugal money mind-set that makes you risk averse.

That’s what happened to Shang Saavedra, personal finance expert and author of "Wealth is a Mindset.”

Which is why her story is so powerful. In this episode, she talks about how her frugal upbringing, cultural conditioning and her parents’ aversion to risk-taking influenced how she looked at money.

But when she was in her 20s, she and her husband decided to go to extreme frugality in New York City to retire early by 31 — and then delves into all the lessons she’s learned since about the importance of grounding herself in the present, shifting your mindset toward abundance and looking at financial decisions from a place of calm rather than fear.

Shang shares some simple, practical tips for how to deal with some of the biggest financial stressors — unexpected expenses and how to make big purchases manageable.

I loved talking to her about how to shift the relationship between emotions and money patterns.

You don’t want to miss this healing conversation about money!

THE TOP LEARNINGS IN THIS EPISODE:

• How your cultural upbringing shapes financial habits and mindsets
• The importance and challenges of risk-taking for financial growth
• The reason generational trauma influences money worries and behaviors
• The decision and sacrifices behind early retirement
• Emotional health directly impacts financial decisions
• Building self-awareness and positive money talk is essential for wealth mindset

GUEST BIO:

Shang Saavedra is a published book author and the founder and CEO of Save My Cents, a nationally recognized personal finance expert. Shang finished saving for her retirement by the age of 31, and is America's leading expert on saving for retirement with joy.

Her insights have been published by Business Insider, CNBC, Forbes, Fox Business, USA Today, Time / NextAdvisor, Nasdaq, and more. Shang was educated at Harvard and University of Chicago, and has worked in strategy for various Fortune 500 companies. Her book, Wealth Is a Mindset, was published in January 2025 with Third State Books.

If this episode inspired you in some way, take a screenshot of you listening on your device, post it to your Instagram stories, and tag @nicoletsong and Shang Saavedra @savemycents so we can give you a shout-out and thank you for your support!

ASIAN VISIBILITY SYSTEM: Want to permanently reverse cultural conditioning and step into a life where you feel purposeful and thrive? Grab the Asian Visibility System: go.nicoletsong.com/visible.

Do you struggle with boundaries? Discover the blind spots holding you back and take the Boundary Tendencies Quiz: nicoletsong.com/quiz

Want to build morning habits that last so you jump out of bed with energy and clarity every morning? Join Nicole’s 5-Day Morning Challenge: go.nicoletsong.com/morning-habits

Haven’t left a review yet? We’d love for you to at: https://podcasts.apple.com/us/podcast/school-of-self-worth/id1678655504

For full show notes, transcript, and links, visit nicoletsong.com/podcast.

Have a question or topic you’d like Nicole to touch on in a future episode? Email podcast@nicoletsong.com to share any thoughts or feedback.

Learn More About Shang Saavedra at :

• savemycents.com
• https://savemy