We are all going through unexpected changes with this pandemic, which has affected not only our daily routines and mental wellbeing but also our financial wellness. We hope this free course we put together arms you with the resources you need and gets you on some steady ground to stand on as we walk through this pandemic and its effects together. We exist to empower our community of women to take control of their lives no matter what we face in the world.
This workshop is for anyone who is already feeling financial implications, is worried they might be impacted, and anyone who isn't sure if they should be worried financially. We’ll dive into tactics to keep your financial future safe and strategies for when you areas where you may feel unsure, while also providing resources that will help guide your specific financial situation.
Your point of view can change the way you deal with any situation
What you need to know about your money
How to handle each stage of a crisis
When we look at financial decision making, myWorth’s cornerstones, our 4 pillars used to analyze each and every decision are Mindset, Security, Time, and Freedom. We’ll walk you through how to use these and relate them specifically to the decisions you may be faced with as a result of this pandemic.
Your mindset can change the way you deal with any situation. It’s often an area we neglect, yet it can define our results. What is your current mindset towards this situation? What are you feeling? What are you thinking What are you doing? Who are you being?
It’s only natural to question how secure you feel at a time like this. There are some things you can do to help you feel more secure, especially when it comes to your money. We’ll dive into tactics to make sure you have the ultimate security for yourself.
Time is an important part of how financial decisions are made. When will you need money to do or buy the things you want? What time frame are you looking at when setting financial goals and actions? How do you balance your future goals with present needs and wants? Where does time help or hurt us?
When making decisions about money, some choices allow us to have more freedom than others. Since we don’t know what will happen over the next few weeks or months, having the freedom to choose can be empowering. We’ll give you back that sense of control we are all craving, even in dark times.
There are 5 components to your finances that will ultimately determine your financial health and ability to handle unexpected situations. We take a holistic approach to financial planning to make sure you’re not only setting yourself up for the future but also making sure you have protection when something unexpected happens. We’ll walk you through the best financial strategies to handle this crisis.
This is what’s coming in and what’s going out. There are changes you can make to increase your cash flow or adjust your spending plan to give you much-needed wiggle room.
These are ways to protect your assets, income, and life. This would include insurance products, government programs, wills, and advance directive documents. Protection is something we can’t get after the fact, which is why it is critical to address. What do you need to be thinking about how to make sure you are protected?
How much should you be saving? How much should you have saved? Where should this savings live and when should you access it?
This is what you are building for the future. Should you tap into that now? Should you be making changes? And if so, how best can you do that? What should you consider in this time to give you what you need, while continuing to have growth for the future?
How do you deal with debt at this time? What is important for you to do now to not make this worse? Do you stop debt repayment plans and if so, what are the ramifications?
Crisis management can be broken into three phases: pre-crisis, focusing on prevention and preparation; crisis response (or mid-crisis), when you have to respond now because you are in the crisis full-on; and post-crisis, what happens after the crisis is over or is under control. All three phases are important as you might not be in the phase you think you are.
It may feel like you are past the pre-crisis phase, however, there may still be some things you can do regarding prevention and preparation. Things are changing day by day so we’ll look at some steps you can take now to fortify your ability to manage things if and when they change.
Once you are fully into the crisis response phase, you can approach solving a problem using some of these steps. We’ll walk through where to simplify, adapt, reframe, and innovate.
When this is all over, and it will be all over at some point, it would be a great learning opportunity to do a retrospective. What worked, what didn’t work, what was missing, and how can you safeguard yourself from any future crises?
We’re in the midst of something we have little control of, so finding things we can take control of in our individual lives is important. We’ll walk you through some tips that have helped others to manage their lives through this quarantine.
In this uncertain time, we want to make sure we're here to help you make the right decisions for you. To continue to bring you the latest information about how to deal with the financial fallout from COVID-19, we'll be doing live sessions to answer questions on Instagram and Facebook.
Our team is working hard on providing more courses just like this. If you want to be the first to find out more about release dates, special promotions, and exclusive content, sign up for our education email list.