How Will You Recover from 2020?

 

This is the second in our three Rs series about coming out of 2020 with our sanity and finances intact.  Today we talk about Recovery.

 

Personal

  • Remember that setbacks happen to everyone. If you lost your job or had to move in with your parents or had to dip into your 401(k), it’s not a personal failure.  You are still a good person, just like you were when things were going well.
  • Think about what is in your control and what is not. Try to focus on the in-control items and let go of the outcomes you can’t change (like inventing a vaccine).
  • Hang on to your sense of humor!
  • Write down lessons learned and positive memories from this difficult time.
  • Acknowledge the new skills you learned during this time. Growing food, Qi Gong, basic conversational Italian?  Great job, you!

 

Financial

  • I hate telling people to budget, but now would be a good time to take a deep look at your costs and find those items that you can live without. Knowing where you are helps you get to the next steps.
  • Look for available financial resources: Unemployment benefits, home equity, loan forbearance opportunities (contact your creditors on this), Medicaid if you fall below a certain income threshold, tuition discounts.  Don’t be afraid to ask for help and participate in social safety net programs.  It won’t be forever.
  • Set a plan with reasonable goals and move forward one step at a time.

 

No one gets out of this life without setbacks.  It’s the way you handle them that forges character!

Share this post
Facebook
Twitter
LinkedIn