This Entrepreneur Built Her Business Around Helping Others Focus on Financial Wellness
Six months into the pandemic, many Americans likely face more job instability than ever. After all, it’s hard to reconcile how you’re going to stay afloat while living in unprecedented times. That’s where Ennie Lim comes in. As the CEO and co-founder of HoneyBee, her mission is all about teaching folks about financial wellness and how to de-stigmatize asking for help.
Lim especially understands the constraints money can put on a person, as she herself had financial setbacks after her divorce, forcing her to move back into her parents’ home. It wasn’t until she met with an old colleague, who explained his parents’ philosophy of helping out their employees when they were in financial strife that she realized more people needed to feel prepared with their money. Hence HoneyBee was born.
“Everyone needs access to emergency funds at no interest and with a few single clicks,” she told Men’s Health deputy editor Spencer Dukoff during the latest installment of the Boss Mode Instagram series. “That’s on top of getting the financial support people need.”
One thing Lim is adamant about is financial education. Most adults don’t necessarily realize they need to learn how to protect themselves financially until they start looking for their first jobs out of college. How does Lim challenge this? She recommends people start educating themselves about finances as early as possible, so they’re less fearful of going into debt and asking for money from their employers.
“Why aren’t we teaching in school about financial education and about finances?” she asked. “Seven out of ten Americans are living paycheck to paycheck. How are they supposed to teach you about finances when they’re barely met?”
That’s why HoneyBee’s personal mission is to provide tools people will need throughout all stages of life, whether you’re just starting your career or trying to provide for a family. But how does one get started on creating a better understanding of their finances? Rather than trying to absorb all the elements of finances (credit, a 401k, etc.), Lim says to simply take it back to basics and learn from those who’ve gone through a similar situation to you.
“It’s important to understand all the basics… but it’s overwhelming,” she said. “It starts by executives and people who have gone through the struggles and come out on the other side to share their stories. I think that can help a lot of people take the step towards understanding their finances better and what to do next.”
With that goal in mind, Lim found an easy way to keep the authenticity going between the company and her customers: Make her employees feel like they can be open about how they’re doing financially and personally. Though she does admit it can be challenging sometimes, in the end it does help with staying open-minded about their clients’ needs, especially amid COVID-19.
“Every Friday, we have someone on our team share something they’re personally passionate about,” she said. “I think that really kind of puts us together on this vision and mission… It wasn’t always this easy, and it’s still not easy. But I think especially in times of the pandemic, it’s all about constant learning.”
If there’s anything Lim has learned about creating financial wellness amid a pandemic, it’s to set goals for the unprecedented future, and hers is to bring more financial health coverage to those across the country.
“Our goal is to provide our coverage to as many working Americans that need access, and we’re just scratching the surface,” she said. “It’s also important to just take it one day at a time, and it’s a series of problems that we do at HoneyBee every day. Though 2020 looks a little bit dark, just fight for the things you care about and in you fighting the good fight.”
You Might Also Like
