Ok, so the last year has been anything but a financial miracle. We’ve seen the global economy stall and in parts of the developing world come to a grinding halt.
Unemployment remains a challenge (although the US economy added 266 000 jobs in April) and many businesses have folded with many more who are yet on the brink. But, it’s not all bad news. The green shoots of recovery are not just “shoots” in some sectors but full-blown forests and as with all major global events, there are winners…and there are losers.
So if you are one of the unlucky ones who fell into the latter part of that category, don’t fret.
HOW TO START OVER, WHEN YOU’RE STARTING OVER
Whether you lost your work or your business you’re probably feeling pretty bleak right now and while it’s important to allow yourself some healing time, it’s even more important not to dwell there. So take stock, take a breather and recognize where better financial management before the pandemic and its consequences might have helped you to “weather the storm better”. We’ve all been dealt a massive blow and the takeaway has to be that in the future, we could all do with being better stewards of our resources.
There’s no time like the present to learn personal financial management skills. Preparing for the future starts now.
Recognize that much of what happened this past year was totally out of your control. Conduct a personal assessment to determine what was truly out of your control, and where you could have planned or acted more wisely. It’s truth serum time. Once you have the answers to those questions, you’ll have a solid foundation to create your recovery plan.
IT MAY BE (THE PERFECT) TIME FOR A CHANGE
Look, Covid has revolutionized the way we see office work. Your old career may not even be an option anymore and you may have to dig deep to determine what your next move is going to be. Whichever way you look at it, change is in the air and if you’re open to it, this may be the biggest favour you’ve been given in a long time. How often do we truly get to hit the reset button, no matter how much we want to?
Well now – you might not have a choice and that means you get to redesign your life exactly how you want to.
INVEST IN YOURSELF
This may seem like an odd suggestion right now, but the time has never been more right to take a few classes, skill-up and reposition yourself in the job market and speaking of which, now is also the time to look at the myriad options that exist in this brave new world in “non-traditional” and alternative industries. You will no doubt want to be smart about it but thankfully, there are many ways that you can learn how to minimize student loan debt and still find a great job.
It’s time to think outside the box. The world has changed around us and it’s not likely going to get back to what we thought of as “normal” anytime soon.
Buckle up, it’s “go” time!