Women's Entrepreneurship Archives

During her career in preventative healthcare, Jillian Krenk saw the ways in which financial well-being promotes better overall health. She even co-led a study on the matter, tracking the responses of a comprehensive health and lifestyle assessment survey sent to over 30,000 individuals across the U.S. Through that effort, Krenk saw how financial stability resulted in better mental health, more thoughtful eating habits, increased physical activity, and decreased instances of smoking and drinking. In 2019, the Eugene, Oregon, entrepreneur decided to look after her own well-being – departing from what had become a toxic corporate environment to launch her passion project, MoneyWellth. Her company provides financial education resources, a comprehensive budgeting tool, and other services to help people manage their finances effectively – all in one app. Here's our lightly edited Q&A, from The Story Exchange 1,000+ Stories Project. How is your business different from others in your industry? Everything we do is about increasing access to financial resources and improving the overall health and wellbeing of our users by helping them to develop strong financial habits. Unlike our competitors, who often approach personal finances from the lens of dollars and cents, we take a more holistic approach. We know that having sound financial habits – and in general, more money – can lead to less stress, less anxiety, and overall better health outcomes. At the end of the day, it's not just about having the most amount of money – it's about living the best quality of life. Tell us about your biggest success so far. Growing our company to a size where we could internally establish the MoneyWellth Foundation, our nonprofit arm dedicated to providing free financial education resources to schools across the country. Reaching this milestone has been both incredibly challenging and immensely rewarding, as it allows us to further our mission of promoting financial equity. I look forward to fostering its growth, and ensuring that every school has the tools and resources necessary to prepare their students for successful financial futures. What is your top challenge and how have you addressed it? As a female founder in the predominantly male fintech space, I knew I would face many challenges. Competing in this industry typically requires significant capital – but then, I didn't enter this field merely to drive engagement with financial products and services. My goal was to offer a holistic approach to personal finance, one rooted in preventative healthcare. To stay true to my vision and mission, I chose to bootstrap the entire company. It required immense drive, creativity, and hard work to leverage the resources I had and collaborate with the right people to create a competitive product and service. Our success, despite our comparatively limited resources, is due to my incredible team — some of the hardest working, kindest, and most dedicated individuals I’ve ever met. I am fortunate to work with them every day. Have you experienced any significant personal situations that have affected your business decisions? At my first corporate job, I was repeatedly sexually harassed in the workplace. I was only at the company for about 2 years, and despite being incredibly successful, the harassment and toxic work culture was devastating to my mental health and well-being. A large part of wanting to work for myself stemmed from never wanting to be in such a toxic environment ever again. What is your biggest tip for other startup entrepreneurs? Don't quit your day job too soon. Build your business while you still have reliable income coming in, so you can tap into more resources as you grow – and not be put in a position where you have to compromise your vision because of personal needs. How do you find inspiration on your darkest days? I garden. My husband's family owns a 55-and-older retirement community, and I do all of the gardening for the property. This includes a memorial garden, courtyard, and recreation area for the residents. It heals my soul to be outside in the dirt, creating a flower show for the residents to enjoy. And in that quiet, patient work, I’m reminded subtly that, similar to my business, with dedication, patience, and perseverance, some of the most beautiful things will bloom. What is your go-to song to get motivated on tough days? “Fight Song” by Rachel Platten. Who is your most important role model? My father. I was raised with limited means by a single father who endured severe PTSD from being a prisoner of war. My dad learned the importance of staying true to one’s values and of having a strong work ethic – traits he passed down to his children. His only female role model was his grandmother, who made him promise to educate and support his daughter in ways she wasn’t growing up. Throughout my life, my dad told me daily that I could achieve anything I set my mind to. He ensured I understood and felt welcomed in every aspect of the business he ran, taking me to work often to show that I belonged at the top, just like my brothers. It wasn’t until after college that I fully appreciated how crucial it is to see oneself in a position of power, and to be told you belong there. My dad always reminded me that while others might be smarter, more athletic, or more successful, I could always be the hardest worker in any room. I deeply admire my father, and am grateful for his unwavering ability to make me believe that any dream is within reach. YouTube: @MoneyWellthLinkedIn: @MoneyWellth Share your story! Check out our Advice + Tips for entrepreneurs starting-upWatch our latest videosSubscribe to our podcast

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