Updated: Mar 16, 2020
I know we're in the midst of great uncertainty. The scale, speed, and severity of the #COVID-19 situation has made many fearful and anxious of what the future may hold. Especially for businesses owners whose salary is dependent on their venture.
Coming together as a community has never been more important.
Please know I'm committed to showing up powerfully for you in any, and every way I can.
There are three important things I hope for you to keep front of mind, as we move through this uncharted terrain together.
1. This too shall pass.
2. The more we can stay calm and centered, the less reactive we’ll be.
3. Once this passes, and it will, please let this experience serve to remind us and hold us accountable to keeping our financial house in good order.
I’ve pulled together a number of tips and tools I personally implemented this week to remain as calm and centred as possible through the external chaos and confusion. I share them with you here in hopes they can help you, too.
MONEY MANAGEMENT: I’ve built a Revised Budget and Backup Plan to keep me as financially fit and healthy as possible through this period. There are a number of personal decisions you will need to make regarding your investments and sharing. However, for all of us, we have to get smart and deliberate about our spending. Stop or limit any non-essential expenses. Last year, I made a number of recommendations, canceling unused subscriptions and reducing mobile costs and data plans are just two of many ideas, posted here.
*A NOTE ON MAKING FINANCIAL DECISIONS: As I’ve done in the past, and especially now when we tend to be reactionary, please use the Rule of Three when deciding on what course of action is best when it comes to your investments and mortgages. Ask three experts the same questions before you react. Review their responses and be able to defend why you’ve chosen the course of action you have.*
**A NOTE ON ADVICE: Earlier this year I announced I'd be launching the Magnificence of Money Podcast. As it turns out, the timing was serendipitous. April I'll be interviewing experts who are open and willing to share their no-holds-barred perspective and advice as it relates to the Management, Mindset and Motivation of Money.
MONEY MINDSET: Remain aware of your behaviours. Often when fear and panic are dominant in our emotional state, our autopilot system kicks in, making us react in dramatic fashion. Be diligent of what Money Types are acting out in ways that don’t serve you.
INNOCENTS: Hide from their financial reality, afraid of what the truth will reveal. Action>>> There is a way through every situation. The only way to move through it is to know, with clarity, what we’re dealing with.
MARTYRS: Sacrifice their safety and security for the sake of others. Action>>> Putting our oxygen mask on first, is the only way to survive, so that we can then help others.
VICTIMS: Choose to blame their situation on others or external factors. Action>>> Our current financial situation is a reflection of the decisions we’ve made in the past. Taking ownership of our actions, or inaction, is the first, most important, step to altering our financial trajectory.
TYRANTS: Have a need to control and manipulate the situation. Action>>> It’s important we listen to everyone’s voice. We’re stronger together. The best solutions are found through collaboration.
FOOLS: Rush forward without weighing the costs or consequences of their actions. Action>>> Calculating the risks and mitigating any possible damage are important action steps for all of us these days.
MONEY MOTIVATION: Now more than ever, given the amount of external chatter, stress, and anxiety being felt around the world, it’s important we keep our emotional state strong and positive. Perhaps this is a good time to revisit your Anchoring Routine and Reset Buttons from Week Three.
Here are some additional tools my daughter and I have been using this week to keep our energy in-check:
Reading Inspirational Books (reading to each other)
Free Online Courses
Baking and Cooking Healthy Food
Card and Board Games with the Kids
Physical Exercise§ Donating Food and Clothes (charities need our help more than ever)
Random Acts of Kindness (i.e. shovel neighbour’s sidewalk)
Planning a Fun Getaway (for when this shemozzle is over)
And please, for the love of Pete...Turn off Social Media notifications and news feeds (99.9% is negative and stress inducing)
I’ll be showing up as powerfully as I can each and every day on social media (especially our Facebook Group) to share messages of inspiration, positivity and empowerment through this time.
We’re all in this together.
Please don't hesitate to reach out if you need anything! I know our community is strong, fierce and committed to helping each other in any way we can.
Feeling immense love, gratitude and appreciation for each of you.
Stay strong and healthy!