Buying a new car is often an exciting prospect, with the allure of modern features, sleek designs, and that unmistakable “new car smell.” We’ve written how this is seemingly more prevalent in the Asian communities. However, many fail to recognize the opportunity cost associated with this purchase. We’ll delve into the true cost of buying […]
The Hidden Costs of Buying a New Car: Exploring the Opportunity Cost Read More »
In Asian culture, family is the cornerstone of everything, including their approach to finances. For many Asians, financial decisions are made not just for themselves, but with the well-being of their family in mind. This means that they are often willing to sacrifice short-term gains for the long-term security of their loved ones. There is
Asian Cultures: Prioritizing Families over Financial Well-Being Read More »
There is a widespread perception among Asian cultures that real estate investing is safer and more trustworthy than stock market investing, and that stock market trading is intrinsically riskier. The financial preferences of many Asians are shaped by this viewpoint, which has strong historical and cultural origins. Historical Context: Understanding the historical backdrop that has
The idea of upholding one’s reputation is heavily emphasized across a wide range of Asian cultures. In order to do this, one must refrain from doing anything that can make themselves or their family look bad. Furthermore, social status and material things are valued in many Asian societies. Being raised in an Asian family exposed
As a second-generation Asian American, you may have grown up with certain beliefs about money that are different from those of your American-born peers. These beliefs may have been passed down from your parents or grandparents, and they may be based on the values of your home country. While these beliefs may have served you
Managing Finances as a First or Second-Generation Asian in the US Read More »
