Recession. Coronavirus. Elections. That’s a lot of stress for one year. So how are you planning on maintaining financial wellness in 2020? As all the chaos uncertainty of this year continues to build, it is really hard to keep your head over water. If financial wellness is something that you are worried about, here are our tips to keep yourself strong through the rest of 2020. Help isn’t out of the question, despite all of this upheaval.
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Financial Wellness and Coronavirus
The Coronavirus pandemic has completely upended the current standards people have been expecting. COVID-19 has changed economic standards, and that isn’t going away any time soon. Just as Coronavirus has changed the financial wellness cities and states and nations and the world, it has also changed the wellness of 2020.
Maintaining reality and empathy
Ignoring the consequences of Coronavirus is truly silly right now. If you been watching TV, you notice most of the marketing has been reflecting COVID-19 and its impact. So, what does this mean for financial wellness, especially as 2020 drags on?
Operating like business-as-usual would be impossible for the moment. A recent report from Google discusses this, pointing out how consumers right now are not in a position for acting like the world is going properly. All people need financial help in various forms, which applies to businesses and beyond. Keeping that in mind, make sure that you relate to your current customers. They need your help just as much as you might. Nothing is financially stable right now, so focus on a sense of universal wellness as 2020 continues.
2020 Politics and Financial Wellness
Coronavirus still comes into play here, obviously. But the political world of 2020 and the recession that we are all in will have impacts years into the future.
The recession is obviously hurting people. Six months ago, we mentioned how recession fear was dying down but not going away. Now that the recession has come (and in a form we never expected), it might be too late. Look at how you can cut costs and save money right now and look for loans that you might be able to rely on.
Regarding the 2020 election, you cannot neglect your financial wellness to rely on the future. It is hard to predict what political things are norms and are out of the ordinary right now. Should we expect bailouts to continue? How about a basic income? And when will loans need to be repaid? All of this is still on our plates. Things are changing so rapidly, it is hard to prepare for what comes next. But focus on what you need.