392: Money Trauma, Wealth Culture, and the BIPOC Grad Student Experience with Esther Saehyun Lee

In this episode of the Grad School Femtoring podcast, I’m joined by Esther Saehyun Lee, founder of Elevate Philanthropy Consulting and a Trauma of Money certified fundraiser, to explore money trauma, wealth culture, and the financial struggles of first-generation and BIPOC graduate students. Drawing on our experiences navigating higher education, we discuss how hidden costs, unequal access to resources, and family responsibilities shape students’ choices and sense of belonging.

Together, we explore how scarcity develops through experiences of survival and can continue influencing our decisions as our circumstances change. We discuss recognizing the systemic roots of financial shame, honoring the full context of our money stories, and reclaiming agency within our current circumstances. Esther also shares guidance for graduate students interested in transitioning into nonprofit and philanthropic work.

In this episode, you will learn:

• How wealth culture shows up in higher education and shapes your sense of belonging.
• Why graduate school’s hidden costs create financial, emotional, and capacity burdens.
• How real and internalized scarcity can affect future planning and career decisions.
• How family financial responsibilities and immigrant experiences shape money stories.
• Ways to understand financial shame in its systemic context and recognize your agency.
• How informational interviews, courses, and writing practice can support a transition into nonprofit work.

Work with me

• Join the Grad Empowerment Coaching Circle for community, compassionate accountability, and support navigating graduate school’s hidden curriculum: https://gradschoolfemtoring.com/group-coaching/
• Express your interest by October 8 for a cohort tentatively beginning October 26. If the cohort moves forward, enroll by October 19 to receive my Sustainable Productivity Toolkit, a $99 value.

Connect with today’s guest

• Connect with Esther Saehyun Lee on LinkedIn: https://ca.linkedin.com/in/esther-saehyun-lee
• Scarcity vow article, “Are nonprofit leaders unknowingly taking a ‘scarcity vow’?”: https://candid.org/blogs/nonprofit-leaders-scarcity-vow/
• Wealth culture article, “Money, Power, Respect: What Fine Dining Taught Me About Fundraising”: https://communitycentricfundraising.org/2024/12/02/money-power-respect-what-fine-dining-taught-me-about-fundraising/
• Book recommendations: The Psychology of Money by Morgan Housel, Loaded by Sarah Newcomb, and Scarcity Brain by Michael Easter.

Free resource

• Download your Grad School Femtoring Resource Kit: https://gradschoolfemtoring.com/kit/

Explore more

• Listen to more episodes on Financial Literacy and Grad Funding: https://gradschoolfemtoring.com/podcast_catergory/financial-literacy-and-grad-funding/
• Support the podcast with a one-time or monthly donation: https://donate.stripe.com/bJedR8dGRcs6ewGdwq38401
• Access transcripts and additional resources: https://gradschoolfemtoring.com/podcast/
• Audio and transcript edited by Yessi Sanchez: https://www.linkedin.com/in/yessisanchez/
• This podcast is a proud member of the Genuina Media network.
• The Grad School Femtoring Podcast is for educational purposes only and is not a substitute for therapy or other professional services.

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