7 Ways To Achieve Financial Literacy During Global Pandemic
It's one thing to learn how to better manage your money, it's another to manage your money during a recession, and yet another to manage your money during a recession and a pandemic, where everything and everyone is on lock down and resources are limited.
Financial expert, Jennifer Streaks, shares some money tips that we all should be taking in order to stay afloat during these unprecedented times.
1.File Your Taxes
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Go ahead and get it out of the way! This will make it easier to get your stimulus check, if you qualify. This will especially come in handy for those who have been laid off due to COVID-19. Although there has been an extension to file taxes until July 15, you should still do your best to get it in early to avoid delays.
2.Get An Extension On Payment Deadlines
Call your creditors and ask for forbearance on your payments. The entire world is on pause right now, and most businesses are being lenient towards their customers when it comes to funds that are owed.
3.Focus On Essentials Only
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This is not the time to stock up on unnecessary items. Right now, pay attention to what you need the most; food and in some cases, medication. In case of a complete lockdown (including grocery stores), you want to be sure that you are stocked with a lot of canned goods and whatever medication is needed to hold over for an extended period of time.
4.Track Expenses
Take the time, sit down and see where your money is going. There are many people that are seeing how much they spend on Uber, dry cleaning, Starbucks etc., and realizing how much money is wasted. Take a look at any subscription services that you don't need that can be put on hold for now. These payments can be resumed when normal life is back on track.
5.Seek Financial Assistance
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If you have not already, file for unemployment. Yes, the task is daunting because many states are overwhelmed, but do it so those funds can start coming in. You also want to be mindful of the fact that many people are applying at this time, so the sooner you get in, the sooner you can get access to funds to sustain you. If you don't qualify for unemployment, there may be new government-funded financial assistance programs specifically for those who are impacted by COVID-19.
6.Use Your Emergency Fund
If you need to dip into savings, go ahead and do so. This is what savings are for! The best use of your savings right now is to try to get at least two weeks worth of groceries at a time, and whatever extra essential supplies are needed.
7.Create A Pandemic Budget
ShutterstockPlan out a budget specifically for this pandemic. Money management is extremely important right now, and whatever money you already have, needs to last.
Jennifer Streaks is a financial securities expert, journalist and author. She has been an on-air commentator for years (MSNBC, Fox Business) and is a columnist/reporter having written for The Huffington Post, Motley Fool and Black Enterprise, as well as been a contributor for CNBC. Featured on national news outlets, Jennifer published her highly lauded book Thrive!...Affordably available on Amazon.com.
Featured image by Shutterstock
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ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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How A Stay At Switzerland's Luxurious 7132 Hotel Reminded Me To Live The Life I Deserve
Sometimes, as women—especially as single Black women—we simply need to be reminded that we are deserving of living a life we dream of. Even if that means creating it for ourselves. I recently set out on a weeklong trip to Switzerland, a trip I’ve been wanting to take for years, and near the end of my visit, I had an epiphany.
“DeAnna, this is the life you deserve,” I thought to myself as I took in the gorgeous bathroom in my suite at the famous 7132 Hotel and Thermal Spa. It was one of the most luxurious hotels (and bathrooms) I had ever stayed in—and that’s saying a lot for someone who often travels for work.
To help you better understand why this was such a mental awakening for me, I first need to give a bit of my backstory. I’m in my late thirties. I’m an attorneyand a journalist. I own a home and have traveled the world extensively. Essentially, I’ve done everything in life I set out to do. However, when it comes to dating, I struggle. Not because there is anything wrong with me per se, but because my career and “lifestyle” often create problems in my romantic relationships.
View from my hotel room
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I’ve been told everything from, ‘I can’t continue to date you because you seem to choose your career over wanting to settle down and have kids’ by a man after only the second date to ‘Maybe if you just sat down somewhere for a while, I’d actually wife you’ by someone who has honestly never proven themselves to be the settle down type. And these are only a handful of the things I’ve been told over the years.
It’s been frustrating, to say the least, and there have even been seasons where I purposely dimmed my light in hopes that my career wouldn’t push away potential suitors. I know what you’re thinking, “Girl, why would you even consider that? If they’re for you, it won’t matter what you do.” Hey, don’t judge me, but also, I one hundred percent agree.
My hotel bathroom
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That’s why this recent moment in Switzerland was right on time. When I first walked into the hotel to check in, I was blown away by the surrounding beauty. It was a five-star property with one of the world’s most famous thermal bathhouses. Yet, it was something about seeing that 90% of the hotel’s guests were couples, that forced me to sit back for a bit of introspection—while soaking in the thermal spa, of course.
As I went through the mental conversation, there was a battle of sorts. On one hand, I knew that being able to partake in experiences like the one I was having at that moment was important to me. I knew that, at times I actually love being able to dabble in the finer things—after all, I’ve worked hard to be able to afford them. On the other hand, and sadly, I knew that sometimes being a single Black woman that publicly showcases her “luxurious” habits can intimidate men and even scare them off from pursuing you under the guise of them feeling like they “can’t do anything for you, because you have everything.”
My hotel room
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So, what is a girl to do?
Do I minimize/hide the life and experiences that I have? Do I play down the hard work I’ve put in to get where I am professionally? Or, do I risk being single in exchange for being able to have said life, without backlash?
Luckily, the joy that I felt while being at this property won. There was something about taking a full day to simply pamper myself at the bathhouse and in my in-room steam shower and soaker tub, indulging in cuisine from a 2-star Michelin restaurant and doing all of this while surrounded by an amazing group of Black women that reminded me—this is certainly the life I was meant to live and that I deserve. Even if it means that right now, I’ll just have to provide it for myself until the right partner comes along. And honestly, I’m okay with that.
Restaurant at 7132 hotel
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