Nivi Achanta says she’s making progress at understanding how to use money to dismantle oppression

Name: Nivi Achanta

Age: 24

Neighborhood: Fillmore, San Francisco

Occupation: I’m the Founder and CEO of Soapbox Project, a media startup that makes social impact easy for busy people like you. I write a weekly 3-minute email that gives you actions to learn about and fight climate change from your inbox.

Where do you bank?

I bank with Keypoint Credit Union and National Cooperative Bank. 

Why did you choose those?

My Keypoint Credit Union account was opened for me when I was 16 years-old by my father. He mentioned something about credit unions being better. I totally forget his rationale, but I just went with it.

I chose National Cooperative Bank a few months ago after learning about it via Mighty. I'm passionate about structural social impact (i.e. not just donating a few bucks and calling it a day) and I believe one of the best ways to do that is by intentionally leveraging my wealth. I also happened to be in the market for a high-yield savings account since I didn't have one. I went on the Mighty website, filtered for a high-yield savings account, and found National Cooperative Bank, which reinvests most of its money into the community. So it was a win-win.

What’s the top thing you need in a bank or credit union?

A good mobile interface. 

Describe what you do in your job, in one sentence.

I make it easy for busy people to fight climate change.

What’s a piece of money advice you live by?

Try not to get overwhelmed by the millions of financial advice pieces out there. I found that I was putting off important decisions because I wanted to "maximize my wealth". I should have just gotten started (with something like a high-yield savings account, for example), because interest compounds. Start simple, start early, and go from there. 

Are you a finance person?

No way. 

What’s a finance person, anyway?

Ha! I think of someone who never forgets the difference between a 401k and a Roth 401k, grew up listening to financial advice from their parents, and makes loads of supplemental income from day trading (okay, so a Wall Street Bro). I know it's a stereotype, but the unbridled confidence of finance bros made me nervous to get into investing - I felt that I'd never fully get there. I'm making progress and making friends with smart money-minded women who are not Wall Street Bros and it's helping a lot. 

What was the name of the first bank or credit union you ever had an account with?

Keypoint Credit Union.

Do you remember anything from going to the bank or credit union as a kid?

I always wondered what a bank teller's job was. I'm still not sure! Also, when my little brother and I were really young, we used to go to India every other summer. My brother, who was a toddler, would put on a hat that was way too big for his head and accompany my grandfather to the bank almost every single day. I'm not really sure why, but I have fond memories of seeing them return from the bank every morning on those hot summer days. I, on the other hand, would not step out of the AC apartment.

Tell us about a neighborhood that’s special to you and why it’s special.

I love the Fillmore in San Francisco, where I lived for the past year. I love San Francisco in general. Despite its flaws, it's my favorite city. The Fillmore is a microcosm of SF. It's got great food, lovely parks, and community centers. It also has a complicated history of racial and socioeconomic inequality as well as historical violence (which I learned about after reading Season of the Witch). It's special because it represents the best and worst of what a neighborhood can offer, and living there made me think more consciously about my role in my community. Plus, it's got the best coffee and the whole city is bike-able!  

What’s the last thing you used cash for?

Buying vegetables at the farmer's market.

Cash, card or mobile?

Card for now.

What finance-related article, book, or movie has made an impression on you?

This primer for personal finance by Young, Not Broke, helped me out a lot. I mentioned earlier that I found finance extremely overwhelming and bro-y; the article helped me ground myself in the basics. And yes, it's why I opened that high-yield savings account I keep talking about.

If you were the professor of an economics class, what would your course be called?

“Capitalism As The Antithesis of American Democracy.” Fun fact: I have an econ degree from UC Davis and I didn't ONCE learn that capitalism was promoted by the founding fathers intentionally to discourage democracy.

What does wealth mean to you?

Having enough money and security to live my best life: to live in a well-lit and cozy place, eat delicious and healthy food with my friends, and not have to worry about my bank balance once I've paid off my zillion medical bills. 

Can you give a recent example of how you used your money to make a difference?

Beyond opening a bank account with National Cooperative Bank, I use my money for political campaign contributions, donations to racial justice organizations like Color of Change and local bail funds, and I try to shop local whenever possible - especially for produce!

What will you do with all the bank interest you’ll earn in the next year?

I'll invest it - either in the stock market or into my startup, Soapbox Project, so I can continue to help busy people make a difference in their communities.

Finish these sentences:

Money _

defines oppressive American power structures and we, as holders of money, need to be better at understanding how to use it to dismantle oppression.

Banks _

hold a majority of our wealth and it's alarming how little we think about where we bank.

Mighty _

is one of the best tools for easy social impact on a structural level and I recommend it to people at least once a week. Seriously, I'm starting to sound like a sponsored ad.

What’s a dream you have for the world?

That people care just a little more. We live in such a fast-paced society with a zillion problems. It's easy to feel overwhelmed and hopeless, but my dream is that we take all the info we absorb every day and we use it meaningfully to improve our communities. There are so many simple ways to do that (opening a values-aligned bank account is just one) and I want to encourage as many people as I can to push themselves just a teeny tiny bit. It really adds up!

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