Coronavirus Edition: 7 Ways To Turn Fear Into Financial Favor
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.)
Featured image by Shutterstock
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.
Let’s make things inbox official! Sign up for the xoNecole newsletter for daily love, wellness, career, and exclusive content delivered straight to your inbox.
This Luxe Hotel Made My First Time In Memphis The Perfect Vacay
Memphis is one of those cities where, when you visit, you instantly feel its soul. The southern metropolitan, nicknamed Bluff City, is located right on the banks of the “mighty” Mississippi River. It is the headquarters for some major companies, such as FedEx and AutoZone, and it is home to St. Jude Hospital and the world-famous Beale Street. Conveniently placed near the action are Hyatt Centric Beale Street and Caption by Hyatt Beale Street. These sister hotels, which are connected, have a lot to offer guests, especially those who are visiting Memphis for the first time, such as myself.
Hyatt Centric Beale Street Memphis
Hyatt Centric Beale Street Memphis rooftop bar Beck & Call
Courtesy
Sitting along the Mississippi River, both hotels offer breathtaking water views from the rooms, and Hyatt Centric’s rooftop whiskey lounge, Beck & Call, which is the city’s only riverfront rooftop bar, captures expansive views of both the river and the Memphis skyline. Grab a cocktail and take in the beautiful sites Memphis has to offer or enjoy the light show the Hernando de Soto Bridge, aka the “M” Bridge, has every night. On Fridays, guests can unwind and listen to live music.
Hyatt Centric also has CIMAS Lobby Lounge, which provides breakfast bites in the morning and cocktails in the afternoon and evening. CIMAS restaurant has a delectable menu that includes Latin-infused dishes for breakfast and lunch. Other amenities include room service, an outdoor pool with a cabana and poolside dining, a concierge, a fitness center, and more. My room was comfortable and the perfect place to unwind after a full day of exploring the city. I even had a view of the river.
Caption by Hyatt Beale Street Memphis
Caption by Hyatt Beale Street Memphis
Courtesty
While I didn’t stay at Caption by Hyatt Beale Street Memphis, I did frequent its coffee shop/eatery called Talk Shop. Talk Shop is a laidback hangout spot that encourages community among its locals through its events like Blues & Brews and everyday activities like work (for all the remote workers) or meeting a friend for coffee or a cocktail in its beer garden. Its menu is full of variety, having everything from soft pretzels to BBQ pork sandwiches.
Caption by Hyatt Beale Street Memphis is built into the historic Wm. C Ellis & Sons Ironworks and Machine Shop building. Everywhere you look, you are reminded of its history due to the building’s industrial charm. But that doesn’t mean that it isn’t modern. The rooms are colorful and incorporate a lot of iron rods into the design, a nod to the ironworks building.
What is the Difference Between Hyatt Centric Beale Street Memphis and Caption by Hyatt Beale Street Memphis?
Caption by Hyatt Beale Street's Talk Shop and Beer Garden
Courtesy
If you’re looking for more luxury or traveling with family, then Hyatt Centric might be the better option for you. If simplicity and vibrancy are key, then you may prefer to stay at Hyatt Centric’s sister hotel, Caption by Hyatt. Either way, you can’t lose.
Memphis Attractions
Beale Street sign
Courtesy
Both hotels are walkable to all the city’s attractions, but of course, I have to start with the iconic Beale Street. Beale Street is where blues orginated and it is one of Memphis’ most popular places for tourists. Walking down Beale Street, you are quickly transported into another world, especially at night. Lights fill the streets as an array of restaurants and bars entice guests with its electrifying music. If you enjoy live music, B.B. King’s Blues Club is the place to go. The restaurant was created by the legendary singer B.B. King, who got his start in blues performing on Beale Street.
BBQ Chicken Nachos at Rendezvous
Courtesy
As revered as Beale Street is, it's not the only spot in town to find good food and a good vibe. For breakfast, take a quick ride to Sunrise Memphis and take your pick from the mouthwatering biscuits on its menu. If BBQ is your thing, then you are in the right spot. Memphis is known for its BBQ, and Rendezvous is one of the city’s best BBQ joints. The highlight for me is the BBQ chicken nachos, which is a Memphis stable. If you’re looking for fine dining, then Amelia Gene’s is a must. The food is exquisite as it serves food pairings that are unique and full of flavor. I especially love the food presentations of each dish, which adds to the restaurant’s ambiance.
Amelia Gene's
Courtesy
Other walkable attractions are the National Civil Rights Museum, the Blues Hall of Fame, and the Orpheum Theater. The National Civil Rights Museum is located at the Lorraine Motel, which is where Dr. Martin Luther King Jr. was killed. However, the motel has become a memorial for Dr. King as well as the work that many historical figures have done over the years, specifically during the civil rights movement.
The Blues Hall of Fame is near the National Civil Rights Museum, and it features exhibits dedicated to blues artists and culture. It has over 400 inductees and focuses on the history and achievements of each one. The Orpheum Theater is across the street from the hotels, and it is one of Memphis’ treasured venues. Its opulence is displayed inside and out as it stands at the intersection of Main St. and Beale St. As you walk in, you are greeted by a grand staircase and crystal chandeliers hanging above.
The Orpheum Theater
Courtesy
Touring the theater, you see its beauty, but like many southern businesses that have been around for generations, you also learn about the segregated history. Walking around to the side of the building, there’s a “colored entrance” that was used during segregation. You can even watch a video from people who grew up during that era as they each reflected on their experiences of going to the theater. Many cited all of the steps that they had to take to get to the balcony, which was the only area Blacks were allowed to sit.
Issac Hayes 24k gold Cadillac in Stax Museum
Courtesy
If you want to take a ride around the city, then hop on the Memphis Mojo tour. This bus tour stops at many landmarks, including Sun Studios, where Elvis Pressley and other artists recorded music. Or you can explore on foot by visiting all the haunted properities on the Memphis Ghost Tour. But we all know Memphis is known for blues, so I can’t end the story without mentioning Stax Museum.
The museum is named after Stax Records, which was a record label based in Memphis that housed a number of talented musicians like soul singer Otis Redding and Grammy award-winning artist Issac Hayes. What makes this museum exciting is that it showcases a variety of photos, records, costumes, and more from the artists on the label. But the highlight was Issac’s 24k gold Cadillac, which was put on full display.
Memphis is a charming city with a rich history and tons of activities for solo travelers, friend groups, and even families. So why not add it to your travel bucket list? By staying at one of the sister properties, Hyatt Centric Beale Street Memphis and Caption by Hyatt Beale Street Memphis, you will be surrounded by everything you need.
Let’s make things inbox official! Sign up for the xoNecole newsletter for love, wellness, career, and exclusive content delivered straight to your inbox.
Feature image courtesy