The novel coronavirus has affected the world in various ways. Other than the loss of life, the economic fallout of this pandemic has been no less devastating. So many businesses shut down; and many others that survived had to lay off a significant part of their workforce.
With countless people losing their jobs and having income streams dry up overnight, an imposing mental health challenge has emerged as well. In the United States alone, about 45% of the adult population has had its mental health negatively affected as a result of stress about COVID-19 and its financial implications. This is according to a survey conducted by the Kaiser Family Foundation back in March 2020.
The situation is no different for women. In fact, they’ve fared far worse in many ways. For instance, working women have faced greater layoffs compared to their male counterparts. According to data gathered by the National Women’s Law Center, about 61% of job cuts in retail alone were attributed to...
The year 2020 hasn’t been kind to a lot of us, and perhaps even that is an understatement. Reeling from the devastating impact of COVID-19, the world is trying hard to make a recovery. From a business standpoint, the effect of the pandemic has been somewhat varied. Different industries/groups have had to endure different types and levels of crises.
However, one group has had to bear the brunt of the economic catastrophe unleashed by the novel coronavirus. Female entrepreneurs (and working women in general) have been hit especially hard by the recession that gripped the world following Covid-19. Several women-owned businesses both at home and abroad couldn’t survive and needed to be shut.
Getting the Short End of the Stick
As per a recent US Chamber of Commerce survey, the ratio of female business leaders who ranked the overall health of their enterprise as “somewhat or very good” was 60% in January 2020. By July, this number had declined to 47%. During the...
It’s probably been said a million times already, but I believe I need to say it again here at the outset.
“The world might never be the same again thanks to 2020.”
The global spread of the coronavirus earlier in the year demonstrated just how uncertain life really is. Yes, death can meet anyone at any time whether or not there’s a pandemic in your area. But there’s a lot more you need to be prepared for.
As the planet went into lockdown, we all became painfully aware of our vulnerabilities. The seemingly simple but crucial things can no longer be taken for granted. Going forward, alternative options to secure our futures will be needed to hedge against unexpected occurrences like COVID-19. This applies to all areas, especially health, money, power, or overall well-being.
For working women, this means a whole lot of responsibility to tread carefully. We know that they have borne the brunt of the pandemic. If you can relate to this, now...
All your life you have been told that finance is complex, and managing money is better handled by professional accountants or managers. That is as far from the truth as possible.
Life can become a whole lot simpler when your finances are in order, and you can teach yourself to do it. A well sorted out financial plan cannot be stressed enough in the post-pandemic world where so many people are struggling to find decent work and having a hard time making ends meet.
Even if you didn’t lose your job this time around, living from paycheck to paycheck is tough anyway. In my career as a financial coach, I’ve met many people who fall into high-income brackets but still struggle to afford a life they truly desire.
If you’re in the same boat, then don’t stress over it. A lot of Americans have probably never had sound money management advice in their life. And when the pandemic struck, not many had a solid contingency or fallback plan. Very few people have side...
We all want to achieve love, health, and wealth. And sometimes we ask ourselves why things are not working the way we want them to do. We pray to God; we ask the Universe and try many different things, but we still can't get what we want.
I was one of those who felt frustrated because I was not achieving the results I wanted, and most importantly, no matter my efforts, it felt like everything and everyone was against me.
However, by making a few changes and putting in practice certain rituals, I experienced firsthand that it is possible to achieve things that I always wanted, and I want to share them with you.
Here are seven things that have worked for me, and I want to share them with you.
This year the Global Pandemic (COVID-19) has raised awareness about how uncertain life can be. We are no longer sure about how long we can count on things that made us so strong. Simple things such as the freedom to go out; our dependency on security infrastructures; the mere feeling that we were covered for life.
In the most tragic cases and the most unexpected turn of events, we may even have to deal with the loss of a loved one. When the main breadwinner of the household is no longer around, you are forced to rethink your options in life.
According to LIMRA, almost 50% of Americans lack life insurance in the household or don't have enough coverage for contingencies. Statistics show 1 in 3 families have expressed their inability to afford a life without the support of the main wage earner. The pandemic has the potential to worsen this ratio as more and more people fall prey to employment losses and economic challenges.
How can life insurance provide security and...
You’ve been a hard earner all your life but when you check up on your savings, your heart skips a beat.
Where did all the money go?
Sound like something you say often? You are probably one of the large numbers of Americans that have poor budgeting habits.
According to Gallup, only 30% of US households have a long-term financial plan.
It doesn’t matter how much money you are earning; the real indicator of freedom is the purchasing power you have based on your savings at any point in time. For steady savings, you need a killer budgeting routine to keep you on track. A detailed budget will steer you clear from large debts, boost your credit rating, and help you cover for emergencies when they come!
Don’t worry if you don’t have a clear budget yet. So many like you have missed out on the right financial advice all these years.
Here are 6 no-brainer ways to help you build your way straight from a money mess into pro financial management mode.
I was thinking about you today, and I am imagining that due to everything that is happening right now, you might start feeling the financial pressure.
A lot of people have lost their jobs or temporarily not working. Others, their income has been reduced. However, others are striving, their income is going up, and they are helping a ton of people.
Maybe you have been affected directly or indirectly. But I want to share with you a few things that I stop doing to help me strive financially during these tough times.
First, I stopped watching the news on T.V., and here is why. It is essential to stay informed; however, viewing the report on the television has proven over and over to lower your vibrational state.
Having a low vibration, especially after watching the constant negative news, is going to impact negatively everything else you do, as this state will last much longer than the time you spend on the T.V.
I have opted to...
A lot of times, we see this as a bill, and we might start thinking about all the other things that we could be doing with that money. Or we rather avoid altogether by not getting one. But is having life insurance an expense?
When you buy life insurance, you might feel that it is a burden and an expense. And therefore, we see it as something negative instead of something positive. A lot of times, we associate negative emotions with life insurance. Perhaps it is because it makes us think about death instead of life.
However, it is a matter of the perception that we have about it. It might feel like an expense because you do not see immediate benefits.
But life insurance is peace of mind policy. These days, it is not just to protect your loved ones if you pass away, but also to protect you if something unexpected happens and you are still alive.
Also, many life insurances are a great tool to increase your wealth and to use as income in the...
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