Amy Jarczynski is the founder of the luxury Middle Eastern online wedding platform Aroos Joon. The 37-year-old American spent 10 years working for the globally renowned bridal site The Knot, before setting up a travel and weddings online platform. She began work on the concept behind Aroos Joon in 2014, officially launching the platform in May 2016.
qHow did your upbringing shape your attitude towards money?
aI was raised in a comfortable financial situation where I didn’t face great challenges. My parents provided everything I needed to create a good foundation, but didn’t spoil me. At a young age they taught us the value of a dollar, never giving in to anything that we wanted in excess, and making us do chores and tasks around the house if we wanted to earn more money on top of our allowance.
How much did you get paid for your first job?
At 11, I began purchasing candies called salt water taffy at a local gas station for a penny a piece. I’d take orders from some of my classmates and bring in their pre-packaged candy order to school, each piece selling for the rate of 10 cents, making nine cents a candy. Then at 15, I was a lifeguard at the country club pool near where I grew up. I earned US$7 per hour.
Are you a spender or saver?
I’m a spender at heart, but I’ve always been good at saving up for big items. I saved most of the money I earned growing up, later using it as extra spending money when I studied abroad in Europe in the summers during university. These days, I spend every penny I have on the business.
What is your most cherished purchase?
The cumulative purchase of 20 years of travelling experiences. I spend most of my disposable income on travel and have benefited from not only visiting every continent (apart from Antarctica), but developing friendships with people .
Have you ever had a month when you feared you could not pay the bills?
Yes, every month over the past year-and-a-half. That’s what running a start-up is all about, as there will always be far more expenses than revenue in the beginning. It’s like I’m living my life in a game of Tetris (from the original Nintendo), balancing myself on moving blocks and trying to determine what is the most urgent detail needing monies and predicting how that will effect the next step.
Where do you save?
Typical savings accounts and a 401K from a past employer. I’ve previously invested in various stocks over the past 20 years, but I recently liquidated all these to fund Aroos Joon.
What has been your best investment?
Aroos Joon of course. Although we’ve only just started to monetise, it’s by far the greatest investment of my life and has above and beyond the greatest earning potential. It’s my baby, so I’ve invested all of my time over the past two years to this start-up. Now let’s see it grow.
What do you most regret spending money on?
I probably spent too much on dining out and nightlife when I was in my 20s. I could have cut back and have a lot more saved.
What financial advice would you offer your younger self?
Pace yourself. Save more than you think you’ll need, as life can throw you curveballs, but always invest in travel and enriching experiences.
Do you have a plan for the future?
My plan is to stay focused on Aroos Joon, grow the site’s traffic and brand awareness internationally over the next two years and roll out new tech features, products and some offline brand extensions. Additionally, my fiancé and I plan to finally marry hopefully some time in late 2017. In the long-term future we’d like to retire early, continue travelling and dedicate a good amount of time to charity and humanitarian work.
jeverington@thenational.ae
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