Sandra Hong & Melissa Wong, both 29, recently combined forces to launch the New Women Space. We had a virtual Q&A and discussed launching your own business in a matter of months, the nitty gritty on startup costs why women need their own space & of course, how they relate to finances. Brooklyn Plans works with professional women to help them take control of their finances and I’ll be teaching a class on controlling spending without budgeting next month.
Kristen: What is New Women Space?
Melissa: New Women Space is a project cultivation space that places the ambitions of women of all experiences at its center. Anyone is welcome to attend events at New Women Space unless specified otherwise, however, we reserve the ability to host an event or workshop at New Women Space for women. We believe that if women are provided more access to resources that have been limited to them in the past – space, exposure, feedback – that they can grow their projects and their confidence.
K: How do you answer people who may ask why do women need their own space?
M: We believe that women have traditionally had limited access to resources. It is not news to anyone that women were once not afforded equal access to the majority of spaces outside the home that pertain to work. Today, women are making great professional strides in their companies, industries, and entrepreneurial pursuits. Yet, women are still behind men when you look at the numbers. We aim to offset that imbalance by consciously creating space together.
K: How did you fund your vision? Here at Brooklyn Plans, we’re all about the numbers so please share the specific deets if you feel comfortable with it!
M: We each had some personal savings from our past occupations to contribute to a start up fund, totaling a little more than $10K. We also were able to raise $17,148 on Kickstarter. We tried to spec out our anticipated expenses for the first month and it looked something like this:
K: What does money mean to you?
M: I’m very aware of my money. I’m never someone who surprises herself by finding it in a jacket pocket. My dad helped instill/burn some sayings into my mind that I take with me: “Time is money”, “You can always have more money”, “It’s harder to save money than it is to earn it”, “You’ve got to set yourself up so that you’re making money while you’re sitting on the couch”. An attention to saving and investing is something he helped set up for me and something I’ve been fortunate enough to do.
K: What is one way you’re good with money?
Sandra: I honestly can’t say I’m the best with taking care of my own money, but I’m learning. There are so many apps and tools out there to help you keep track of your finances, so there really isn’t much of an excuse as to why you wouldn’t know where your money is going. What’s one way I’m good with money? I suppose I’m still figuring that piece out and that’s why I’ll be attending your workshop!