Podcast Summary: Networth and Chill with Your Rich BFF

Episode: How to ACTUALLY Save on Back-to-School Spending!
Host: Vivian Tu (aka Your Rich BFF)
Date: August 20, 2025

Episode Overview

In this back-to-school special, financial influencer Vivian Tu breaks down the true cost of education in 2025 and offers a trove of practical tips to save money at every stage—whether you're a student, recent grad, or a parent preparing for tuition. With her trademark mix of realism, wit, and actionable advice, Vivian teaches how to navigate today’s expensive educational landscape, uncover the best student discounts, cut costs on travel, textbooks, and tech, and leverage tax-advantaged savings accounts. She closes with a listener Q&A, giving tailored advice on student loan limits, 529 plans, and how career choices should inform financial decisions.

Key Discussion Points and Insights

1. The Reality of Educational Costs Today

• College is more expensive and complex than ever—students and families need to plan carefully for the future.
• Major selection: Vivian challenges the “follow your passion” mantra, urging listeners to be pragmatic.
  • Quote: “My passion is being able to afford rent and pay for groceries at the same time.” (02:40)
• Career/lifestyle math: Use data to decide on a major, researching salary outcomes and required education at bls.gov Occupational Outlook Handbook.
  • Compare earnings based on geography (rural vs. urban, public vs. private sector).
  • Example: Social workers often earn about $50K/year while accumulating $40K in debt—knowing this helps plan for things like loan forgiveness or double majoring.

2. Top Money-Saving Tips for the School Year

A. Harness Student Discounts Everywhere

• UNiDAYS (myunidays.com): Free, verifies student status, unlocks discounts at hundreds of retailers (Apple, Nike, Best Buy, etc.).
  • “This is not an ad… but making an account is 100% free. Before you buy anything online, check Unidays first.” (15:17)
• Brands use student discounts to foster brand loyalty early.

B. Travel for Less

• Flight Discounts:
  • Use kayak.com/c/students, Flyla, ScholarTrip, and StudentUniverse for 5–40% off.
  • Proof of student status usually required.
• Train Discounts:
  • Amtrak: 15% off for ages 17–24, booked a day in advance. Great for last-minute travel.

C. Textbooks and Supplies

• Never buy new if you can help it:
  • Rent with Chegg or Amazon.
  • Check university library for borrowable copies.
  • Buy used via Facebook Marketplace or student groups.
  • Hot tip: “PDF sharing... the Internet is a vast place with many resources for resourceful students.” (28:12)
  • Speak with professors: They may have old editions, resources, or be sympathetic to financial hardship.

D. Student Discounted Subscriptions

• Amazon Prime: 50% off for students, free shipping, plus perks like discounted gas and streaming.
• Spotify + Hulu Bundle: $5.99/month for both services.
• Adobe Creative Suite: 66% off for students; check if your school offers free access via the library.

E. Bulk Shopping and Everyday Savings

• Costco via UNiDAYS: $20 gift card with student membership. Useful for savings on shared groceries with roommates.
• Costco Hack: Parents can buy Costco gift cards, which students can use without their own membership—even out of state.

F. Creative Thrift Approaches

• Buy Nothing Groups: Local Facebook groups where people give away unwanted items.
  • “Bring friends and use common sense—meet in public when possible.” (38:53)
• Community Swaps: Seasonal events to trade items you don’t need for those you do.
• Shop Clearance: Stock up on supplies in late September when stores heavily discount back-to-school goods.

3. Smart Planning for Parents: The 529 Plan

• 529 accounts:
  • Tax-advantaged, can now be used for K-12, college, grad school, trade/vocational expenses, and limited student loan repayment.
  • “You could potentially be giving your child a head start on both their education and their retirement.” (50:25)
  • Recent improvements allow up to $35,000 to be rolled into the child’s Roth IRA.
  • Start early, automate monthly contributions, and research specific state benefits.

Memorable Quotes & Moments

| Time | Speaker | Quote | |---|---|---| | 02:40 | Vivian | “My passion is being able to afford rent and pay for groceries at the same time.” | | 15:17 | Vivian | “Before you buy anything online, check Unidays first. Make it a habit.” | | 28:12 | Vivian | “While I cannot officially legally recommend specific sites, let’s just say, the Internet is a vast place with many resources for resourceful students. PDF sharing. PDF sharing.” | | 50:25 | Vivian | “You could potentially be giving your child a head start on both their education and their retirement. This creates an incredible opportunity for generational wealth building.” |

Notable Q&A: Listener Financial Dilemmas

(Starting around 01:03:00)

1. Should I go back for my master’s if I still have credit card debt?

• Vivian’s advice: Pay off the credit card debt first—it grows much faster than student loans (20–30% interest vs. 5–7%).
  • “I would encourage you to really prioritize that, get that under control.” (01:04:45)

2. Is it too late to start a 529 if my child is in high school?

• No—it’s always worthwhile for tax and growth benefits, even for just a few years.

3. How much in student loans is ‘too much’ to borrow?

• It fully depends on expected salary after graduation.
  • “Leverage the bls.gov handbook to figure out what your major and what your potential career will actually end up paying.” (01:09:05)
• Vivian gives honest reflections from her own University of Chicago experience—a six-figure loan is manageable only if your post-grad career pays accordingly.

4. Is it better for a doctor to work at a public hospital for loan forgiveness or go into the private sector for higher pay?

• “It depends on your total debt and the delta between public and private sector earnings.”

5. How can I estimate the future cost of a private out-of-state school?

• There’s no crystal ball, but prices keep climbing—private college is ~$300K now, might be $1M in 20–30 years.
  • “You can assume that it’s only going to get more expensive… By the time my kids go, maybe a million.” (01:17:03)

Practical Takeaways

• Do your homework on majors/careers: Research pay and job prospects before committing educational dollars.
• Use your student status for every possible discount: From flights to Photoshop.
• Bulk and secondhand shopping can save you thousands: Use Costco, join buy-nothing groups, trade with your community.
• 529s are powerful, flexible, and not just for college—start one, no matter your child’s age.
• Know your debt: Only borrow student loans you can reasonably cover with your career path. Prioritize paying down high-interest debt first.

Resources and Links Mentioned

• bls.gov Occupational Outlook Handbook: Job/career salary and demand data
• UNiDAYS: myunidays.com
• Kayak Student Travel: kayak.com/c/students
• Chegg: chegg.com
• Ask Dolly (Vivian’s new financial advice tool): askdolly.com
• Spotify + Hulu Student Bundle: Spotify Student
• Amazon Prime Student: Amazon Prime Student
• Amtrak Student Discount: amtrak.com/deals

Episode Tone and Style

Vivian’s tone is direct, practical, and funny—she busts myths (“follow your passion!”), sprinkles in real-life examples (including her own loan story), and offers hot tips you won’t find in every finance podcast.

Conclusion

Vivian wraps the episode reinforcing that education is still a valuable investment, but one that must be approached strategically to avoid the financial pitfalls of debt. With the right information, discounts, and planning (plus a little creativity), you can maximize your education’s return—without going broke.

“It’s still one of the best investments you can make in yourself… But like any investment, you want to maximize your returns while minimizing your costs.” (01:19:25)

For further questions, check Vivian’s new tool at askdolly.com and keep following "Networth and Chill" for more actionable financial wisdom.