Yes, we said the dreaded word “money”!
So, what happens when a massive percentage of the working class are all of a sudden left without a way to make ends meet?
Well, in this site COVID Financial we intend to discuss the impact of this crisis, ways to handle the stress, ways to stay afloat, and even ways to get back on your feet after things open up.
The impact of the CoronaVirus (aka COVID-19) has had unprecedented negative economic repercussions across the United States, and around the world. When a forced shut down of many of the small businesses that have been the economic engine in this country since the industrial revolution and even before. This has resulted in a instantaneous financial blow. Many of the working class in America live pay check to pay check with little to no savings or way to survive a financial emergency. The shear numbers of those effected financially by this crisis has compounded the effect and damage that this has caused to our immediate economy and the future ability to recover. From farmers to restaurants, to carpenters, to lawn mowing companies the “Stay at Home” orders have had an impact.
Stress? Many of us know the direct result of our money disappearing. When we don’t have the resources to cover our day to day lives or that of our families we are exposed to financial stress. Add to that the aspect of being cooped up with our family and it makes for a proverbial powder keg. If the financial impact of the CoronaVirus crisis has stressed you out, or even shortened your fuse we would encourage you to talk to someone. You can maintain “Social Distancing” and still reach out, just pick up the phone or send a text or even an email. It can be a friend, a coworker, or even our parent organizations Advocacy program. Through The Advocate, you can reach a non-judgemental listening ear. As well as there are volunteers that you can toss ideas off, and even some may have suggestions of ways to relieve the stress and worry. That all of this has caused many of you on a personal level.
How do you stay afloat? Yes, they say that they are sending each person a minimum of $1200. But really, How far can you stretch that? Twelve hundred dollars is frankly not that much money. And when you have a member of our government openly stating that it should last 10 weeks, you almost want to laugh! I want to see them cover the cost of living, even a modest one at that on $120 a week. Now, that I’ve put it that way, it simply makes me made at their entitled attitude. They clearly are NOT in touch with the reality that many face in this country as they struggle to get by even on a normal paycheck that they worked for. So, lets think about this and brain storm some practical ideas to help you float this out:
- Sell some of your excess stuff. Most of us have stuff we don’t, won’t, or can’t use. Use the various technology resources to facilitate the sale of that stuff, in a manor that is safe and includes “social distancing.”
- Pick up some gig work.
- Cut your expenses.
- Get creative, out of the box thinking.
- Contact those you owe payments to.
Not only will some of these ideas help you even slightly with the tight financial situation you are in. But they will keep you busy, and a busy person has less time to stress, stew and be anxious about their situation.
Getting back on your feet. When this pandemic is over many have been stressing about how they will put their lives back together. For many that have been laid off, furloughed, or otherwise experienced a employment related financial crisis they are even questioning the “going back to work”. For many their work may be very different. Different safety and health related requirements, to different hours, and some even different pay. Different pay as their employer trys to stay afloat from the missed income for these many week.
I hear a lot of people saying that the old way of work or their job “Wasn’t working”, that “it needed to change”. Many seem very hopeful that those changes are on the horizon as a result of this situation. We would encourage you to be open and honest with those in regards to your concerns and needs, with your employer. As well as look at and consider a nontraditional out of the box approach to employment and supporting your financial needs.