The New Savvy was founded with the mission of empowering 100 million women to achieve financial happiness. Our team consists of a group of women, each dedicated to contributing what they can, to achieve our common goal.
From all across the globe, catch a glimpse of each and every member of the original #savvysquad in action. Here we have The New Savvy’s Chief Marketing Officer and Hong Kong Chief Ambassador, Natalie Pringle, sharing with you her hopes and dreams for The New Savvy in Hong Kong.
The New Savvy: In the past, what were some common traits for women in your country?
Natalie: Whilst women have traditionally held the homemaker role, due to the prevalence of Migrant Domestic Workers (now approximately 380,000 in HK alone) this has increasingly allowed women the time and opportunity to focus on their career whilst also making quality time for their families as they have been able to outsource other household responsibilities.
This is quite a unique situation and as a result, women have been able to pursue their careers and launch businesses in an environment which is very welcoming to start-ups.
The New Savvy: Personally, do you think that women have become more dedicated to achieving their personal and professional goals?
Natalie: In this environment, women are very dedicated to building a successful career and although there are still some cultural influences which instil more ‘traditional’ values on women, those who have studied abroad and been more exposed to Western societies are eager to build something independently. These women understand the importance of forging their own way in the professional world and securing their future professionally and financially.
A number of women who have moved to Hong Kong as Expats from other countries also use this opportunity to develop themselves personally and professionally, seeking out new experiences and having the freedom to dedicate to their goals without the family ties that they may have had at home.
The New Savvy: We believe in empowering women to achieve financial happiness. Why do you think it is important for the women in your country to be financially savvy?
Natalie: It is incredibly important for women in Hong Kong to be financially savvy because there are now even more opportunities for women to climb the corporate ladder, embrace a career pivot into a different industry or start their own business. Whilst we are making great advances professionally, we also have a responsibility to know what we are doing with the money that we are earning. We need to understand concepts which are interlinked with things like debt, credit and interest.
We are in possession of a greater proportion of the overall wealth now and we must safeguard our own futures by being aware and financially literate. In one of the most expensive cities in the world, it is crucial that we plan and have well thought out goals so that we can work towards those and protect ourselves throughout the circumstances we may encounter in our lives.
The New Savvy: How do you think The New Savvy can empower the women in your country?
Natalie: By opening up the conversation and allowing these incredibly accomplished women to feel comfortable being vulnerable about where their knowledge gaps are and their individual concerns when it comes to financial literacy. Very few of us learn how to properly manage our money or how to make our money work for us. These are things that we can help women with, without the fear of being misled or feeling naive.
We explore a number of areas across Finance, Investment and Career and run events which promote open discussion and learning so that we can empower women to take action and be aware of the realistic steps they can make towards achieving their goals.
The New Savvy: What are you personally hoping to achieve for The New Savvy in your country?
Natalie: To empower women in Hong Kong to feel comfortable asking questions about finances, understanding concepts which previously seemed to be confusing and complex and to allow them to take action in controlling what happens with their money, now and in future.
The New Savvy: What are your personal financial goals?
Natalie: To become more confident when investing and be more comfortable in taking calculated risks which will benefit my portfolio and help to secure capital growth for the future.
The New Savvy: How do you think modern women can be more fulfilled in their lives?
Natalie: By doing something that they truly believe in and having an impact on those around them in a positive and meaningful way. Sharing knowledge is a huge opportunity to give to others and also learn something new in return.
In our busy lives we often forget that many people experience the same or similar struggles to the ones we are going through. Only by sharing can we fully understand the solutions and how to keep growing.
The New Savvy: Any advice for women looking to break gender stereotypes and advance their careers?
Natalie: To keep moving forward, look for opportunities to up-skill and always have your eye on the next challenge. It is important to dream big and not to let self-limiting beliefs stop you from doing the things that you want and being the person you aspire to.
In many industries which are now emerging, there is a “new normal’ being created and this is something we should embrace and take full advantage of. Play to your strengths, stay flexible and keep learning every day so that you can stay current, aware and ready for the next move.
The New Savvy: What is a skill you think all women should learn and why?
Natalie: To ask questions and not be afraid of not knowing the answer. By showing this vulnerability with our peers and those who have more knowledge in areas of Finance and Investment we can help each other so much more and all learn something new.
The New Savvy: What is the biggest challenge facing women today?
Natalie: Having the confidence to speak up and acknowledge where there are inequalities or gaps in the opportunities which are available to us. A number of female founders still find it difficult to secure funding for new businesses and this is something which still needs to be improved with greater education both for women in business but also the VC’s and investors who could create more opportunities. Once we have that financial support, and that very clear expression of confidence, then there is very little that can hold us back.
The New Savvy: How do you improve your financial knowledge? What do you think we can do to improve financial awareness today?
Natalie: By asking questions, staying curious and working every day to fill in the gaps in your knowledge. Attending events on topics to do with personal financial management and mixing in networking groups where these topics are discussed is a great place to start. Find a mentor who has experience in the area that you want to learn more about and take time to prepare well thought out questions which can help you once you have done your own research to understand the salient points.
Be proactive and understand that you won’t be able to know everything but know when to ask questions of ‘financial experts’ and banks when it affects your money and the costs that you will be facing. There is no excuse for not knowing and a lot of the time it comes down to a lack of confidence which we need to overcome.
The New Savvy: What changes would you like to see more/ or implicated in your country?
Natalie: For Fintech to be used not just to enable inclusion in the Financial services industry but to provide more education and a focus on financial literacy. Having one without the other is not addressing the true cause of many of the financial problems that people encounter and there should be a greater awareness of this.
We now have so many opportunities to help others and empower through a greater understanding and accessibility but the majority of the time it comes down to what is the most profitable and exciting, rather than looking at the long-term benefits.Recommend0 recommendationsPublished in Hong Kong, Interviews