It's official. You've been grounded for a few weeks and are being forced to stay in your home, which can feel like solitary confinement. Mama Corona did not come here to play with you!
While you've been prescribed to socially distance yourself, the isolation can leave you feeling idle and anxious with concerns around the impact this will have on the economy, your job security, or your business. Times like this can feel like punishment, bringing up those same fears, frustrations, and feelings of being "bad", but this time with money, leaving you uncertain about your financial future.
Image via Giphy
Many people think worries about money are just a "broke" person's problem, but SPOILER ALERT, they're not. The truth is, even HIGH EARNERS can still have a TON of fear around money. It's the equivalent of hearing someone cough around you during this pandemic--the kind of fear that makes your body tense up and makes you question why your throat or stomach is hurting all of a sudden or why you aren't feeling well.
As a Money Mindset + Business Coach, I am here to help you replace panic with peace, and turn your fears into financial favor. Here are 7 steps to get started:
1. Get grounded (in a good way).
First, take inventory of your bills. If you are concerned about the months to come, figure out what is a necessity versus a luxury. If you have the money, pay your bills. If you're experiencing financial hardship, take action.
Call the creditors and see if you can receive a 60-day suspension of payments or interest.
This may apply to mortgages, rent, cable, electric, student loans, etc. While the debts won't necessarily be forgiven, it will provide you an opportunity to get on solid ground. Connect with nature, take social media breaks when needed, and make sure you are still connecting with others and not isolating yourself during social distancing.
Image by Giphy
2. Get out of your own head (and into your body).
With gyms shutting down across the country, your usual workout routine may not be available. Get creative with home workouts or take them outside for some fresh air and sunshine. You can find plenty of free workouts online or support your fitness friends that have taken their businesses online.
The endorphins will help you find a sense of peace in the midst of chaos, helping you to make better, more informed decisions. Make a habit of this, and if you find yourself overextended financially once the panic over coronavirus subsides, you can cancel your gym membership and pay yourself instead.
3. Shift your mindset.
Balance is key. Enjoying experiences and guilty pleasures are necessary as life is meant to be enjoyed. When you're feeling financial uncertainty, shift your mindset from CONSUMERISM to OWNERSHIP. Your emotions and boredom can get the best of you during this time which will only make you feel more financially strapped. With the way Amazon Prime is so conveniently set up, you may find yourself spending unnecessarily.
Rather than letting boredom take all your dollars that you won't see again, get in on the greatest sales of the year by making purchases that will actually provide you a return on your investment.
Just because you can't fly right now doesn't mean you can't buy and hold a piece of your favorite airlines. Those stocks might just bring you back some "free flights" in the future. Cryptocurrency and stocks are having their biggest sales in a long time right now. Plant a few seeds that will potentially help you rebound or pivot in the months and years to come.
4. Go digital.
Create or take your side hustle or business digital. And no, I'm not talking about unethical business practices like hoarding 17,000 bottles of hand sanitizer and getting banned from selling them online during a global pandemic. I'm talking about a business that feels like it's made for you because it is. Do you think it's a coincidence you've been forced to sit and slow down? It's times like this when you have more time to find and develop your purpose.
Take this time to assess your aptitude (innate gifts) and learned skill sets to monetize your talents. The world has been changing right before your eyes, and if you've been distracted by life, it's providing you with an opportunity. Will you take it?
5. Adapt.
Remember your ex, Blockbuster? It can be hard to recall when you found the current love of your life, Netflix. When Blockbuster didn't adapt, refused to do his inner work to heal and get with the times, he became a thing of the past and just didn't do it for you anymore as you evolved. This rings true more than ever today as society and technology continue to evolve. Some of the most lucrative and disruptive ideas were born from the last recession.
It is during these times it pays to be more receptive than ever to new money strategies and understand that through change comes opportunity.
Need an example of how to adapt? If you've been driving Lyft or Uber and this income stream has left you financially stressed, adapt to the current environment and consider food or grocery delivery (i.e., UberEats and Instacart, respectively).
6. Financial wellness is not determined by your bank balance.
This may sound counterintuitive. However, how much money you make or have does not determine your financial health. While being cash strapped can create anxiety, financial wellness is how you feel about your current financial situation. True abundance is being grateful and at peace no matter where you are. As we navigate through the unknowns in the wilderness of the coronavirus and the economic impact, focus on financial peace and balance. There are a lot of people whose identity is tied to money, who have lots of it, and they are being challenged to figure out what's really important.
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7. Own your money mindset. Don't let it own you.
What does this mean exactly? It means to gain clarity and take hold of the way you think and behave when it comes to your money. Oftentimes our beliefs around money and scarcity mindset run deep, connected to our childhoods. If you've never healed your relationship with money, it's a great time to invest in doing so. The fear, anxiety, and avoidance around money that has you stuck in cycles of shame and guilt aren't even yours and it's time to unpack that.
A truly abundant mindset is being grateful with what you currently have no matter where you are in your journey to financial wellness, even during a quarantine.
Staying grounded and connected especially during these chaotic times will help you shift from fearful to favored, like scoring the last pack of toilet paper. Don't you agree?
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"I refuse to let the internet consume me. It’s supposed to be a resource and tool for connection, so if it becomes anything beyond that I will log out."
Credit: Malcolm Roberson
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Featured image by Malcolm Roberson
My main motive? Mostly, I hope that it will serve as a solid reminder to embrace all of the things that you adore about this time of year, so long as you do it in moderation and you weigh the costs.
Especially as far as drinking alcohol is concerned.
PRO: Manages Blood Sugar Levels
GiphyHere’s something that you may have never seen coming. Were you aware of the fact that alcohol can actually help to stabilize your blood sugar? Yep, according to the American Diabetes Association, so long as you leave it to no more than 1-2 cocktails a day, alcohol may be able to lower your A1C levels. Pretty cool, right?
CON: It’s a Carcinogen
GiphyAlcohol is a carcinogen. The reason why this should somewhat alarm you is because carcinogens are things (like tobacco, UV rays, processed meats, etc.) that can increase your chances of being diagnosed with cancer (especially mouth, throat, esophagus, stomach and breast cancer). There are various ways this happens including the fact that alcohol, specifically, can hinder your body from breaking down certain nutrients, it can cause your estrogen levels to spike and alcohol can also cause certain toxins to damage your DNA and certain bodily proteins over time.
PRO: Cultivates Euphoric Feelings
GiphyIf you find yourself feeling more euphoric while you’re enjoying a drink, it’s not all up in your head. Although, for the more part, alcohol is considered to be a depressant, when consumed in small amounts, it can provide a stimulant effect. This happens due to the fact that when you first start to consume alcohol, it causes the production of the feel-good hormone known as dopamine to increase — and since dopamine makes us all feel more relaxed and confident while heightening our senses of pleasure too…well, there you have it.
CON: May Increase Anxiety/Depression
GiphyAs they say, “what goes up, most come down” at some point — and that is what you have to be careful of when it comes to alcohol consumption. For instance, when you drink alcohol, although it tends to initially cause your dopamine levels to uptick, because it is a temporary bodily response, sometimes the dips are lower than the rises…and that is when anxiety starts to kick in. A similar point is made with depression because oftentimes, people with depression-related symptoms, will use alcohol as a way to deflect from what’s really going on with them — and that can make them feel even worse than ever once the buzz of alcohol starts to wear off.
PRO: Has Some Heart-Related Benefits
GiphyWhen it comes to your heart, there are interesting findings surrounding its relationship to alcohol. For instance, some research states that, so long as the consumption is moderate, alcohol can actually help to increase the good cholesterol in your system while also breaking down proteins that can potentially lead to blood clots; both of these factors alone can reduce your chances of dying from heart disease.
CON: Packs on Pounds
GiphyIt’s no secret that alcohol tends to contain quite a few calories. That’s why, it’s not uncommon for people who’ve lost weight to mention “I’ve stopped drinking” as one of the causes for the shed pounds. That’s not to say that there aren’t some alcoholic beverages that have less calories than others including vodka (133 calories per serving), white wine (148 calories per serving) and tequila (99 calories per shot). Just keep in mind that the more you drink, the more calories get into your system and the more weight you stand to gain.
PRO: Lowers Inhibitions
GiphyAlthough you really should only be uninhibited around people who you absolutely trust, if that person is your partner and you’re looking to have a pretty — eh hem — active evening, alcohol can certainly help to make that happen. The science of it all is the prefrontal cortex of your brain is what regulates your inhibitions and levels of self-control. Meanwhile, alcohol suppresses your inhibitions which can cause you to be more spontaneous and open to trying things that you might not immediately do if you were sober. And with the right individual, that can be sexually beneficial (emphasis on “right person”).
CON: Makes It Harder to Orgasm
GiphyOn the other hand, as odd as it may seem (in light of what I just said), if you have too much alcohol in your system, it could make climaxing difficult. That’s because orgasms happen, in part, due to your nervous system being stimulated — and since alcohol is technically a depressant…well, it could reduce nerve sensitivity (especially as far as your clitoris goes) for you while making it challenging for your partner to remain erect or have consistent stamina. And yeah, that sucks.
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‘Tis the season. And with that, if some wassails or hot buttered rums are in your immediate future — hey, don’t let me stop you — not even a lil’ bit.
All I’m saying is now that you know what alcoholic drinks have to offer (both ways), you can know exactly how to incorporate them into your holiday plans. Enjoy!
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