4 Things + A Possible To Focus On During The Pandemic
One of my favorite sayings is “Opposition creates opportunity”.
This was proven true during the last recession when I found myself unemployed for 4 years (yes, you read that right) and uncertain of what the heck was going on. Believe it or not, during that same transition I learned more about money when I didn’t have any. Oxymoron, much? Yet, it is the complete truth. I was in the triple negative and trying to learn more about wealth when the country was in the dark.
During that dark moment of history, companies that are founded and now hold cult status. Does the name Instagram and Etsy ring a bell? They were founded within the last recession and now people see opportunity thought them. Pretty amazing!
Now back to you! Corona or COVID- 19 has really did a hard reset for things that we deemed normal. This shake up has allowed us to see the new things reshaping before our eyes! From education to global warming to work culture, things are really changing. Even within the bad, there is still good unfolding at the same time.
I held a Facebook Live at speaking about the 4 Things + A Possible (Spades) that people should be doing during The Rona. Check it out below:
What prompted me to host this live? The following meme:
Well on that live I disclosure what I feel that people should be doing to ride through this complete reset:
(Staying) Sane:
While this is easier said than done, it is something that we have to strive to do on the daily. Self-care and preservation is top key for your star player (yourself) right now. Like I said on a IG Story a few weeks ago - learn to put yourself on rice. Just like when your phone falls into water and stops working, we put it in rice to restore it. Commit to doing the same for you if you start to feel overwhelmed. Unplug if you need to. Create a routine of self-care and maintain it when we go back outside. Continuing with the big reset, I hope that self-care continues. Along with the conversation of mental health. Whew Chile.
Spending:
I really want us to focus on our spending habits while we are in quarantine. Even thought every store is having a sale doesn’t mean that we have to purchase. Peeping your spending will allow you to see where you have holes in your wallet. Like I tell my e-mail Tribe often “audit your wallet”. Pull your bank transactions from the last two months to see where your money has been spent the most. Even comfortable clothes can cost your cash flow. Here are some additional resources for bills.
Saving:
With continuing with the last point from Spending, I want you to really focus on your cash flow. Yes, credit is important right now but so is your cash! Have cash (liquid) is important no matter the economic climate. Stack your savings, Tribe! No matter if it is part of your stimulus or simply your paycheck, you should be looking to stack that cash. I built a eGuide to help you stop slacking and start stacking! Click here to check it out! Tea: Stop relying on your basic savings account. While they are easy for you take take from (preventing you from saving more), they also give you nothing in return in regards to APY.
Stocks:
While many are really hopping into the markets while there is an on-going Black Friday type sale going on, I want you to do one ting: Research before you reach for your wallet. Be smart before you snatch stock. In the live I called out some things to remember when buying stock in such a a volatile market. Make sure you have the stomach to handle it. Look into platforms to see what works for you. Need ideas on what funds you look into? Consume What You Consume. This article goes into this theory a bit more. Also, be mindful of how your 401K and 403B is preforming too. Asset Allocation is bae.
(Build Your) Skill:
During this time at home - boost or build your skill set. There are a tone of platform that are free for not only for you, but your kids. Of course, here are some links to check out. Keep in mind the questions that I asked during the Live. The main thing - what skill pay high and take little to gain. Configure your ROI or in this case ROS (Return of Skill). As we are noticing, having multiple streams of income isn’t a luxury any more, it is a necessity! Take this pause to get paid during the pivot!
Yes, you might’ve noticed that all of the things I listed started with the letter “S”. Trust me, it wasn’t planned. The flow hit me and I ran with it.
Need help with walking these steps out within your own situation? Grab a session with me to build your strategy!
Stay positive! The people who we were B.C. (Before Corona) will not be the same A.C. (After Corona). You are going to come out of this much better than you know!