MONEY WORRY IN TIME OF CORONA!! DON’T LET IT PULL YOU DOWN..

Ease your worry and fear during these turbulent times.

There is a global setback in investments as the economic severity of the coronavirus takes hold and it is indeed unsettling. All are worried that they may lose their job or salary. Many segments of the economy are in shutdown.

I want to share my thoughts on how best to navigate this financial crisis, which with time can lead to major stress, anxiety, and depression.

1. Seek out love. We’ll get to the money advice in a moment, but People First. Then Money. Then Things. Social distancing does not prevent us from communicating with friends and family. FaceTime, texting, or an actual phone call are all available to us. Journal for your own loving self-care. If you are stressed, talking (and writing) will help. And remember you have the ability to help others by listening and sharing. It also pulls us out of our own heads and gives us a positive sense of purpose and feedback.

2. Stand tall. Your spirit and attitude are your most essential money management tools. No financial strategy is more important than your mindset. Especially now you need to be a warrior. Not sure you have it in you? Don’t be scared. Let go of fear, shame, and blame. They only hold you back. Focus only on the future. Ask yourself each day, what can I do to feel more confident about my financial future. The answers will come.

3. Lean on Cash. What is going on in the markets right now will help you. Cover your essential bills and stay calm. Next, take a clear-eyed look at your spending, for example: Does your household really need so many cars?  Sharing with each other can help financially, and be an important way to stay socially and emotionally connected.

In the coming months, the health crisis will abate, the economy will begin to recover. While right now it may not be practical to downsize, use this time to start thinking about how to increase your financial security.

4. Keep your eye on the long-term. You would not be human if you weren’t somewhat nervous right now. But nervous is not a reason to act rashly. Keep an eye on the big picture. You need to think long-term. With that time frame, use this time to assist people to overcome their nervousness and worry, so when the lockdown opens not only will they depend on you but seek your advice for being financially secure and healthy.

5. Be smart. Invest in yourself, family and togetherness.  Make a daily routine and follow it. Kindly restrict the number of items in meals and try for zero wastage of food and water. Please do not overstock on essentials.

If this economic shock lasts for some time and not just months, stock values may continue to fall, and some companies may need to reduce their dividend. If you want to buy dividend stocks, only use the money you can invest, or you move money from other stock investments into dividend payers.

6. Maintain Faith. Thank God for all the Blessings. Keep yourself calm and know for sure “This too shall pass”.

MONEY IS YOURS BUT RESOURCES BELONG TO THE SOCIETY

Community matters so very much right now.

Let us all respect Nature, ACCEPT and SURRENDER to these turbulent times and thus FREEDOM will be ours.