I wanted to come and say hello after a few days of being quiet.
Given the level of change we’re all experiencing right now and how this is affecting our finances, I wanted to reach out to you with a few thoughts and helpful resources to get us through this pandemic.
As the effects of the coronavirus started spreading around the world into everyone’s local communities, I noticed that my first reaction was to share resources on Facebook.
By this past weekend, though, I started to go into freeze mode and was trying to process too much information all at once, so I paused.
Yesterday I was feeling heartbroken about restaurants and cafes closing all over the world and I wanted to support one of our local restaurants, so we ordered some take out food.
But when the food was delivered to our house our little family freaked out about all the possible ways that the food, containers, and bag could have been infected with the virus.
We stood in the kitchen discussing if they were wearing gloves and what if they coughed or sneezed on the food, or how we should unpack it and when to wash our hands, and out of nowhere I yelled at my family. “SO WHAT ARE WE GOING TO DO FAMILY!!??!! NOT EAT THE FOOD??!!!!??!!”
It was a short burst of a yell, but I can be really loud. Everyone was a bit startled, but we settled in, ate the food together, and washed our hands five more times. After dinner, we went to bed cuddling with each other in the darkness and I apologized for my big yell at dinner.
The next day I woke up, knew I needed a long walk in nature and a good, deep cry came. I was able to move through several layers of emotions during that cry, and now I feel ready to move back into sharing resources from my Financial Therapist perspective.
Before I do that, if you’re wondering why I just told you a little snippet of how I’m working through my emotions, here’s why: My Financial Therapy work has always been an integration of Emotional Literacy and Financial Literacy.
Those two things are intricately intertwined and it’s important for me to share real stories from my own experience.
It’s one thing to tell you that emotional and financial skills are deeply intertwined, but it makes much more sense if I share stories to show you how that looks in everyday reality.
For a little extra emotional support: Listen to a guided Body Check-In (one of my favorite tools when working with emotions and money) here.
Okay…onward with some helpful resources for you.
Right now, I’m gearing up to teach my monthly Art of Money community call this Friday (for my year-long program students). I’m sure we’ll focus mostly on how the effects of Covid-19 are impacting our cash flow, relationship to money, and the survival-fear responses that are coming up (like the toilet paper hoarding).
We’re all in this together, and even though you may not be in the Art of Money program, I wanted you to be aware of some of these helpful resources in case you’re going through more financial stress than normal right now.
Okay…here’s a handful of financially helpful things for you:
1. Our tax payments can be postponed for 90 days. Make sure you file an extension (no payment required) and take advantage of the extended time to pay, if that would be helpful for you.
2. Unless you are of retirement age, it’s best not to look at our retirement accounts and the loss there at this time. Yes this is unprecedented times and the market will most likely go up again in a year or so. (I’ll share more about this soon.)
3. I’m seeing many banks offering different forms of relief. Call your bank to see what they’re offering.
4. Federal Student loan interest rates are being waived. For now, the payments are not being postponed but any payment you make will go to the principal and not the ridiculous interest any longer.
5. If you have extra resources please pay your house cleaning crew, acupuncturist, or any other service provider you hire for any normal appointments that you cancel.
6. If you normally teach or do coaching, consulting, or therapy live and in-person, you can get online now to continue your work via video conferencing software (some of which is HIPAA compliant if you need that.) Check out Zoom for your online video teaching. (The CEO of Zoom recently offered to give his video-conferencing tools for free for k – 12 school classrooms.)
7. If you normally teach live, get online now to continue your work. Here’s an in-depth review from my husband re: his favorite online teaching platform (Kajabi). This is the same platform I use for my Art of Money program and community. I moved my Art of Money program to Kajabi this year and it’s the most user-friendly, beautiful platform I’ve ever used for my course.
8. We’re going to have to find ways to get creative in this pandemic and shifting economy. As my friend and colleague Amanda Steinberg says: “Necessity is the mother of invention. It’s time to get really creative.”
9. Find the helpers: I saw a friend post on Facebook that her tortilla business is doing really well in grocery stores right now. It’s doing so well that she offered to help close friends in need by directly sending them cash. Keep an eye out for beautiful opportunities like that, or create something like that for others if you have the means.
10. The NY Times, Ron Lieber, started, Your Money: A Hub for Help During the Coronavirus Crisis. “If your income has fallen or been cut off completely, we’re here to help. This guide will connect you to the basic information you’ll need to get through this, including on government benefits, free services and financial strategies.”
Ok that’s a lot for now.
I’ll compile additional resources and send them out next week.
Until then, we are in this together.
I’m sending some love your way and please make sure you find ways to feel and move through all your feelings.
With my dearest wishes,