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.
Image via Giphy
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?
Did you know that xoNecole has a podcast? Subscribe on Apple Podcasts or Spotify to join us for weekly convos over cocktails (without the early morning hangover.)
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RELATED
While an evolution is a natural progression that happens as businesses grow, a rebrand is a total change. Lola tells xoNecole, "A total rebrand is necessary when a business’s current reputation/what it’s known for is at odds with the business’s vision or direction.
"For example, if you’ve fundamentally changed what your product is and does, it’s likely that your brand is out of alignment with the business. Or, if you find your company is developing a reputation that doesn’t serve it, it might be time to pump the brakes and figure out what needs to change.
She continues, "Sometimes you’ll see companies (especially startups) announce a name change that comes with updated messaging, visuals, etc. That usually means their vision has changed or expanded, and their previous branding was too narrow/couldn’t encompass everything they planned to do."
Feature image courtesy
The Brand Doula was born in 2019, and its focus is on putting "the experiences, goals, and needs of women of color founders first," as well as brands with "culture-shifting missions."
According to Lola, culture-shifting is "the act of influencing dominant behavior, beliefs, or experiences in a community or group (ideally, for the better)."
"At The Brand Doula, we work with companies and leaders that set out to challenge the status quo in their industries and communities. They’re here to make an impact that sends ripples across the market," she says.
"We help the problem solvers of the world — the ones who aren't satisfied with 'this is how it's always been' and instead ask 'how could this be better?' Our clients build for impact, reimagining tools, systems, and ways of living to move cultures forward."
The Brand Doula has worked with many brands, including Too Collective, to assist with their collaboration with Selena Gomez's Rare Beauty and Balanced Black Girl for a "refresh," aka rebrand. For businesses looking to rebrand, Lola shares four essential steps.
1. Do an audit of your current brand experience — what’s still relevant and what needs to change? Reflect on why you’re doing the rebrand in the first place and what success would look like after relaunching.
2. Tackle the overall strategy first — before you start redesigning logos and websites, align on a new vision for your brand. How do you want your company to be positioned moving forward? Has your audience changed at all? Will your company have a fresh personality and voice?
3. Bring your audience along the journey — there’s no need to move in secret. Inviting your current audience into the journey can actually help them feel more connected to and invested in your story, enough to stick around as changes are being made.
4. Keep business moving — one of my biggest pet peeves is when companies take down their websites as soon as they have the idea to rebrand, then have a Coming Soon page up for months! You lose a lot of momentum and interest by doing that. If you’re still in business and generating income, continue to operate while you work on your rebrand behind the scenes. You don’t want to cut existing customers off out of the blue, and you also don’t want so much downtime that folks forget your business exists or start looking for other solutions.
While determining whether the rebrand was successful may take a few months, Lola says a clear sign that it is unsuccessful is negative feedback from your target audience. "Customers are typically more vocal about what they don’t like more than what they do like," she says.
But some good signs to look out for are improvements in engagement with your marketing, positive reviews, press and increase in retention, and overall feeling aligned with the new branding.
For more information about Lola and The Brand Doula, visit her website, thebranddoula.com.
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With 37 beaches, charming French bakeries, and Dutch wine and cheese shops, the island is great for those craving variety. It also serves as a perfect base for exploring the neighboring islands of Saba, Anguilla, and St. Barths - all just a ferry ride away.
If you’re looking for a destination for an upcoming solo or girls’ trip that combines adventure, beachfront relaxation, and great dining, here’s why St. Maarten should be at the top of your list.
Sonesta Ocean Point Resort
Sonesta Ocean Point
Where To Stay
To get to St. Maarten, I booked a flight to Princess Juliana International Airport, which is on the Dutch side of the island. After landing, I checked into Sonesta Ocean Point Resort, an adults-only, all-inclusive property about 10 minutes from the airport. The property has 24-hour room service, four bars, and three restaurants. My favorite restaurant was the cliffside Azul, where some menu standouts included mushroom ravioli, grilled swordfish, and braised lamb shank.
If you want to party, you’ve come to the right place. The resort also offers poolside DJs, nightly live entertainers, and the largest casino on the island, Casino Royale. You can also spend some quiet time at the Serenity Spa getting a bamboo massage in the Japanese Zen garden or enjoying an Island Flow massage in the outdoor gazebo.
The hotel is also located on Maho Bay, just steps from the famous Maho Beach. Nicknamed “airport beach,” the beach is a popular place to snap pictures of the planes landing or departing just a few feet above you. If you want to know the best time to hit the beach, check out the Sunset Beach Bar, which has a chalkboard with a schedule of landings and departures.
Downtown St. Maarten
Credit: St. Maarten Tourism
What To Do
While you could easily spend your whole vacation at the resort, there’s so much to do in St. Maarten. One of the best ways to discover the island is by ATV through Xplore SXM, which offers daily rentals and the option of a tour guide. The rental office is just steps from the resort, and I opted for a guided tour of the island.
The island is only nine miles long and eight miles wide, and it takes just a few hours to drive around the entire island. There’s no border control (just a sign to mark each side of the island), and you can easily travel between the two sides. As part of my tour, I stopped by St. Martin’s Orient Bay, one of the island’s best beaches. I also spent the afternoon strolling through Phillipsburg, the Dutch capital, and browsing around The Amsterdam Cheese and Liquor Store, which offers gourmet cheese, wines, and even wooden clogs imported from the Netherlands.
Orient Beach
Credit: Mariette Williams
Another popular activity in St. Maarten includes ziplining. If you’re brave enough, book a trip to The Flying Dutchman, the steepest zipline in the world. The ride is over 2,800 ft long and includes a drop in elevation over 1,000 ft. At the top of the ride, you can see neighboring Saba, St. Barths, St. Eustatius, and Anguilla.
During my stay, I also booked a visit to the recently opened We Culture Museum in St. Maarten—one of the highlights of my stay. A visit to the 8,000-square-foot museum includes complimentary drinks and a history lesson on Carnival across the Caribbean. There were instruments and handmade costumes on display, and I tried on some of the Carnival wings and headpieces.
The We Culture Museum
Credit: Mariette Williams
Where To Eat
Of all the islands I’ve traveled to, St. Maarten/St. Martin has some of the most diverse food offerings. On my first night, I took a taxi to Bamboo House, an Asian restaurant overlooking the city. The restaurant offers a variety of dishes like braised duck nachos and a special West Indies Espresso Martini made with Venezuelan rum.
During my ATV tour, I stopped for breakfast at Chez Fernand, an authentic French bakery in St. Martin, where I practiced my French by ordering the pain au chocolat. I also ate eggplant lasagna at Irie Gardens, a local vegetarian restaurant in Phillipsburg. St. Martin also has a big Haitian population, and Villa Royale serves traditional Haitian dishes like djon djon rice, pikliz, and grilled conch.
St. Martin is also home to several beach clubs, perfect for day drinking and lounging in breezy cabanas. Rainbow Cafe has a laid-back, boho vibe, perfect for slow brunches, and Ocean’s 82 is a beachside French restaurant specializing in seafood like roasted sea scallops and lobster fettuccine.
Aerial view of Saba
Credit: Kai Wulf
Where To Island Hop
St. Maarten is one of the easiest places to island hop, and you can collect passport stamps in three nearby countries. Start with a trip to Saba, a Dutch island about a 90-minute ferry from St. Maarten that departs at 9 a.m. twice a week. You could also opt for a quick 15-minute flight and experience landing on the shortest commercial runway in the world. I opted for the plane ride and held my breath as we touched down the 1,300-foot-long runway.
If you’re just in Saba for the day, plan a hike to Mount Scenery. Guided hikes are offered through the Saba Conservation Foundation, and my hike was led by Crocodile James, an expert hiker and local Saban, who took my group on a 90-minute hike to the top of Mount Scenery, the highest point in the Kingdom of the Netherlands.
Mount Scenery Trail
Credit: Mariette Williams
Views of Saba from Mount Scenery
Credit: Mariette Williams
Mariette pictured taking in the views of Saba
Credit: Mariette Williams
After your hike, stop by Tropics Cafe for a refreshing lobster salad or curry coconut shrimp.
I also recommend a day trip to Anguilla. The daily ferry ride is about 25 minutes long, and rides start at 10:30 a.m. In Anguilla, the best beaches are Mead’s Bay and Shoal Bay, and my favorite restaurants on the island are SALT at the Four Seasons Anguilla, Straw Hat at Frangipani Resort, and 20 Knots at Zemi Beach House, which has tables right on the beach. Anguilla is made for beachgoing, but you can also go horseback riding on the beach or enjoy a rum tasting at Zemi Beach House’s Rhum Room, the island’s only rum bar.
St. Barths is another option for a day trip, and the 45-minute ferry from St. Maarten to St. Barths leaves three times a day starting at 7:15 a.m. The island has a reputation for being a hideaway for celebrities and socialites, and like St. Martin, it’s lined with swanky beach clubs and restaurants. Check out Nikki Beach or Ocean Club St. Barths and head to the island’s capital, Gustavia, to check out French boutiques like Louis Vuitton and Cartier.
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Featured image by Kai Wulf