Lockdown Creatives: Interview with Gilman scholar and financial coach, Wahidah Aziz

Although studying abroad is required in many degree programs, the ability to even go to another country can seem like an impossible dream. This is especially true for individuals who hail from lower socio-economic backgrounds or are first-generation college students. As a low income and first-gen student, my own study abroad experience would have been impossible without the support of scholarships, including the support from Gilman. I have the pleasure of interviewing another Gilman alumna about her study abroad experience, financial background, and what she’s doing now to promote financial literacy.

“The Gilman Scholarship Program, sponsored by the U.S. Department of State’s Bureau of Educational and Cultural Affairs is an undergraduate program for U.S. citizens of limited financial means to enable them to study abroad, thereby internationalizing their outlook and better preparing them to thrive in the global economy.”

Wahidah Aziz is a financial coach and founder of Saved It!Financial Coaching. She grew up in Indiana; her family is from Malaysia where they occasionally visited extended relatives. That is how her love for travel was sparked. Having grown up at the poverty line, Wahidah watched many family members struggle with money and make avoidable financial mistakes; this made her pursue personal finance. Wahidah was able to save $100,000 at the age of 27. She now teaches other women of color how they can reach their money goals. She has traveled to 22 countries and has been all over the U.S. Once it’s safe to travel again, Wahidah and her travel fund are ready!

Anesce: Tell us how your childhood influenced your decision to teach financial literacy.

Wahidah: Growing up around the poverty line, I watched many family members struggle with money and make avoidable financial mistakes. I quickly realized that lack of money meant the lack of power, security, and stability. This led me to adopt a scarcity mindset. I felt like I had to save as much as I could and would feel guilty if I spent any money, even if it was for things I needed like groceries. Having a scarcity mindset made me great at saving money, but to deprive myself of any pleasures because it cost something, was not healthy. After ten years of financial stability, I’m still learning how to spend my money without guilt.

I started really learning about personal finance a year into my first job after college. Our HR department had a large meeting and they mentioned 403b and Roth IRA like it was common knowledge. I had no idea what they were talking about. That’s when I did a Google search and found out that there were so many other things I could be doing with my money rather than keep it in a checking account. I felt so embarrassed that I didn’t already know this information. I thought this was basic information that everyone knew but me. That is when I did a deep dive into everything regarding personal finance. I was listening to podcasts, watching videos, and reading books.

Over the years I started to feel confident on some topics and started to talk to friends and family about what they were doing for things such as investing for retirement, or saving an emergency fund, or paying off debt. We were in our 20s and it turned out that they weren’t doing too much at all. If they were investing it was just a little bit into their 401k and most were just paying the minimum on their debts. I found that I had good insight on how they could form a strong financial foundation. Many of my friends and family grew up low income and are first generation college students. As I taught them what I knew, I loved the fact that I was also helping to close the wealth gap. Now I get to help women of color take control of their money and I feel so grateful.

Anesce: Tell us about your Gilman experience.

Wahidah: In 2014, I traveled to Rwanda to take a one-month course entitled “Peace, Conflict, & Development.” We learned about the 1993 genocide, what caused it, and steps the country has taken to move forward. We visited churches with 20-year-old blood stains, we were invited to pay our respects at a mass grave, and I saw the parliament building with a wall still riddled with bullet holes. Even with all the death and painful history, the country and the people I met had so much hope for the future. The people were so welcoming and very ready to share their stories in hopes that we can learn from their mistakes and replicate their growth and healing as they moved forward.

The entire trip I was speechless. It was the first time it dawned on me how little I knew about the world. Coming home from this trip I started following news companies for the first time. I was excited to start learning.

A: As a first generation college student, I’m deeply touched by your vulnerability to share that your international experience cultivated a desire for you to start reading the news. I, too, had only begun to regularly read the news when I prepared to study abroad in China with Gilman. Please tell us more about your background, why you didn’t read the news, and what first got you hooked.

W: Honestly, I didn’t read the news because I found it boring and not relatable. Reading news articles felt like homework. When I went to Rwanda, I realized how little I knew about the world and how interconnected the world was. Before taking this class abroad, I hardly knew anything about Rwanda. I was learning so much about the country, their policies, and the people. I found it hard to form an opinion on anything because everything I was being introduced to and learning was just so new to me. I felt so unintelligent. This trip made me realize I was living a life in ignorant bliss and the veil was finally being lifted. When I got home, I started following news companies on Facebook to be more aware about what was happening in the world. Fast forward seven years and my Facebook feed is 90% informational.

A: Tell us a story that you heard from one of the Rwandans during your Gilman experience. Why is this story important, according to you?

W: In the 1980s, the Rwandan state started to take control of the forest land for conservation, tourism, and security. The original inhabitants of the land and forest dwellers are the Batwa people. They have been forced off the land with unfair compensations (as documented with Minority Right). Our class visited a relocated Batwa community and listened to their stories.

Before they were relocated, they were hunters and gathers. Since losing this way of life, they now have to find other ways to survive such as doing odd jobs, making pottery, and farming. Hearing about their story, non-profits, governmental organizations, and concerned international communities would come in to offer their assistance which the Batwa community appreciated.

Within the community was a soccer field. One of my classmates asked if the Batwa kids wanted to play a match. That’s when we were told that no one in the community actually plays soccer but the kids did play with the soccer balls until they were worn out. The field was built by a group of international volunteers. The community did not ask for the field but that was what was being offered. They did get some compensation in assisting with developing the land so they saw that income as beneficial. They mentioned that instead of a soccer field, they would have preferred to be able to use the funds to buy things they needed like food and medical supplies. This made me realize that as an outsider I don’t inherently know what is best for someone, especially if I am not familiar with their culture, way of life, or values. If you find yourself in abundance and able to give to a person or community in need, having a conversation to see what they need should be the first place you start.

A: How have your (in)visible identities influenced your study and travel abroad experiences?

W: I am Malaysian American, and whenever I traveled I would be asked, “Where are you from?” I found that depending on how I answered I had to be prepared for certain conversations. When you are abroad you become the ambassador of your country. If I said I was from the United States, I knew questions about politics would come up. People around the world do pay attention to U.S foreign policy. The world is so interconnected; one policy can have a ripple effect on many countries. I could also expect to get asked how my family ended up in the US. If I said I was from Malaysia, I could expect questions and comments about the food, culture, or references to the capital Kuala Lumpur.

Depending on what conversation I wanted to have, I’ll answer a certain way. I found this to be an effective way to protect my energy.

A: Tell us about your language backgrounds in Malay and Arabic. Why did you pursue these languages and how do they influence your day-to-day now?

W: My family is Malaysian so Malay was the first language I knew. Growing up in a Muslim household learning Arabic was important. The Quran was in Arabic and prayers would be said in Arabic. I was taught how to read and write Arabic before I knew the word-for-word meaning of what I was saying.

In high school, I needed to complete my language requirement. I already took a few Spanish and French classes and wanted to explore a new language. I decided to take Arabic at the local college. I really enjoy the conversational aspect of learning a new language. I enjoyed it so much that the summer of my sophomore and junior year of high school, I enrolled in free Urdu courses at the local college. During my undergraduate years I studied Arabic, even majored in it. I did a dual degree in near eastern languages & cultures and public management.

Over the years, unfortunately I haven’t kept up with the languages and now only know simple phrases and numbers. However, when you’re learning a language it is important to learn about the culture of those who speak the language. This cultural knowledge has stayed with me and has helped open many doors for me. I got my first job after college in international admissions at a university because of my background. Turns out being able to navigate through multiple cultures and customs and being genuinely interested in my students’ stories made me great at my job.

A:How has your Gilman experience influenced your role as a financial coach?

W: To be able to afford my study abroad trip to Rwanda and my internship afterwards in Vietnam, I had to find funding. I applied to every scholarship I could find. I knew if I couldn’t secure enough scholarships, I would not be able to afford to go. Financially I could not rely on my family. When I applied to the Gilman scholarship, I never expected to receive it since only one in four applicants are awarded the scholarship.

At this point in my life, I was a strong student academically, but I was extremely shy and not confident in myself. I was surprised to receive this scholarship and more surprised that the scholarship committee thought I deserved it. This helped me see that I am good enough as I was and it was a small step towards finding my voice and confidence.

Many of my clients today come to me in a similar situation: they are not confident in themselves or in their money management abilities. However, up until that point, they just haven’t been given the right tools to be successful financially and having someone believe in them makes a world of difference. I love being the surge of confidence my clients need to start believing in themselves as the Gilman scholarship was for me.

A: How do your cultural and linguistic experiences influence the work you do now?

W: Being introduced to many cultures and languages has made me a better empathic listener. Everyone has a unique story to tell and something to teach you. Many of my clients are first or second generation Americans. We’re drawn together through our lived experiences, we not only had similar financial barriers but also cultural barriers. With my own background and experiences, I am able to relate to my clients and provide a very safe space for them to grow.

A: You have now traveled to 22 countries. Have all of these international travel journeys been on a shoe-string budget? How did you manage this?

W: I’ve been to 4 continents, 20 countries, and 22 states in the U.S., including Alaska and Hawaii. Over half the places I’ve visited were done while in college or shortly after I graduated while making less than $7,000 a year, not including scholarships.

I prioritized travel on a student budget, so I was willing to be temporarily uncomfortable to be able to see so many wonderful places. I would travel in groups when I could, this would help spread the costs for expenses, such as lodging and transportation. I would take the cheapest flights and sleep in airports overnight during long layovers. Some of my favorite trips are the ones with the longest layovers, that way you can explore a new destination without paying extra for a flight there. In 2014, I had a 22 hour layover in Doha, Qatar and spent the entire day exploring the city. I have even slept in cars with multiple people to save money during road trips. Choosing locations with local friends in the area is also cost effective, more often than not they had a free couch I could stay on and were more than willing to show me around their city.

A: What has been most important to you in your plethora of international travel experiences?

W: Every time I get to travel, I feel more and more grateful. I know I am so privileged to have traveled as much as I have. Every time I get to experience a new place, travel business class, or take an Uber across town because of its convenience, I am so humbled. It was not always like this. Growing up in a low income family, so many things in life had to go right to get where I am today. Over the last ten years every major life event happened in my favor. I was able to go to college on a full scholarship, I learned how to invest my money at a young age, and I have a partner and family that are very supportive of my ambitions. To pay it forward, I volunteer with nonprofits to teach financial literacy to low income communities.

A: You have saved $100,000 at the age of 27. Wow! That’s an impressive accomplishment. Many people have lifelong career goals — do you have a lifelong financial goal? If so, what is it?

W: My goal is to be financially independent. There is a movement I resonate with called FIRE which stands for Financial Independence Retire Early. I hope I never retire; I love what I do as a financial coach. However, I do want to be financially independent so I do not have to rely on a paycheck. In the future when kids come into the picture, I want to be able to go part time. I want to be able to say yes to opportunities I care about without having to worry about how it will affect my abilities to pay my bills.

A: How has the lockdown impacted you as a financial coach?

W: I actually started my business during the lockdown when NYC was the epicenter for the coronavirus. I was fortunate to be able to keep my job and work from home. I was no longer commuting 2 hours a day so I found more time and energy on my hands. With the extra time, I felt this was as good a time as any to take a chance on myself and start my financial coaching business. At this point I was already a financial coach for my family and friends and volunteering at an organization as a coach.

During the pandemic, there has been a big increase of interest in personal finance from the Millenials and Gen Z age group and rightfully so. People saw how fast the job and financial security they thought they had could unravel. They now saw the importance of learning to manage their money and starting to save for their money goals. Teaching women how they can take control of their money and future has been a great privilege.

A: On your website, you state “Understanding your financial privilege and where you stand financially today is the first step to financial security.” Can you elaborate on this?

W: We all have unique backgrounds and experiences. One mistake I see people make is that they compare themselves to where others are financially. We just cannot do this. We are where we are and that is where we need to start the work.

Especially in the world of social media, you only see the picture perfect posts about the new car, home, or job. We don’t see behind the scenes, maybe there is debt or family that is able to help with expenses.

We all have privileges. Some more than others. We all have different starting points and backgrounds in life so it really is impossible to compare someone else’s journey to yours, so let’s not even try. Understanding this will allow you to focus on your own journey and not get caught up with trying to keep up with anyone else.

A: What advice would you like to give someone who aspires to both travel and create financial security?

W: I’ll share advice my high school calculus teacher, Mr. Walda, shared with me,“If you are able, travel. If you can find a way to travel on someone else’s dime, even better.” 6 out of the 20 countries I have visited didn’t cost me anything. I received scholarships to study abroad such as the Gilman scholarship and through my work as a recruiter for a university this allowed me to travel on the company’s budget.

Ultimately what has helped me become financially secure and still be able to do the things I love, is by adopting a value based spending plan. This is something I teach to my clients and essentially you want to find what your values are and spend/save heavily in those areas, unapologetically. Spending on everything else should be greatly reduced or eliminated. Trust me, you will not feel deprived from cutting out spending that was not important to you. The opposite happens actually. When you focus your spending on what you value, each dollar you spend goes towards maximizing your happiness. Money is very emotional and personal with little math involved. Understanding why we chose to spend the way we do is the first step to shifting our mindset to start reaching money goals.