October is National Financial Planning Month--Reassess Your Life Finances & Fitness During Covid-19
Updated October 2020
October is National Financial Planning Month. The same concepts for financial planning can equate to making sure you have a body and mind available for you and for those important to you, which is why you want financial security in the first place. This continues to be important even during a pandemic, such as the current one known as Covid-19. Here are a few general concepts with updates to consider, given the current environment, which may have affected your economic footing:
Pay/Put Yourself First
Always pay yourself first with keeping yourself energized, relevant, and contributing positively to your environment and for current and future generations. This means choosing activities that contribute to your well-being and the well-being of those you call your family. This is setting a good example of what is important and directing energy toward those items and people.
Sometimes paying yourself means taking time for physical activity that keeps you fit and well. From a financial perspective, the concept is the same. Paying yourself does not mean consuming and buying all you can because you can; you need to build resources for the long term. This is the same with eating right and maintaining an adequate balance of exercise, nutrition, rest and relaxation for healthy longevity. To help you put yourself first, utilize free November Mondays online at YOU.Better! Studio in Bay View, Wisconsin.
Gauge your Fitness
Do you have a plan or goal for keeping your mind and body alive? Using financial terms, minimally, 85% of your activities should be focused to keeping yourself energized, relevant and contributing positively to your current environment and the next generation.
The other 15% is reserved for future use when you need it. Of course in financial terms, experts talk about reserving and investing 15% of annual income and planning on a retirement income that equates to 85% of your (realistically) desired current income (adjusting for inflation, of course).
Build Fitness/Savings
Once you have your goals and priorities, the identification of activities to get there can be mapped out to make relevant decisions on a day-to-day basis. This does not mean there won’t be bumps in the road or challenges to face, such as working late, taking time to make healthy, nutritious meals, or demands from others that create stress in your life. Similarly, your financial plan can hit speedbumps that can take you off course, like an unexpected expense, succumbing to the temptation of consumerism or panic selling when the stock market takes a tumble (such
as early on when Covid-19 first hit the U.S.). Knowing your goals and plans keeps you firm to make the best decisions. Turbo Tax has some recommendations for you to start planning for tax time now. However, don’t forget to keep yourself open to new concepts and ideas to update the plan as appropriate. Keeping your mind-body reserve full versus depleted helps you build the appropriate energy savings to have it when you need it. Feeling depleted of health and vitality as well as depleting financial reserves is not the place we like to be in.
In summary, we trust you treat your mind and body with the same reverence and importance as you treat your finances. Without You in Your Best Form, the financial aspect is something you will trade for your health and deprive your family and loved ones of the most important asset--You! No Halloween tricks here; only the “treat” of a full, abundant life and a better You!
To help you put yourself first and relax your mind and body for better focus and clarity, utilize free Monday Mindful Movement Meditation (MMMM) in November online from YOU.Better! Studio. Reserve your online spot here!
Additionally, here are some other covid-19 resources:
https://www.benefits.gov/help/faq/Coronavirus-resources
https://fyi.extension.wisc.edu/toughtimes/covid-19-financial-resources/
https://www.hhs.gov/coronavirus/grants/index.html
https://www.cdc.gov/coronavirus/2019-ncov/php/open-america/financial-resources.html
https://www.rockethq.com/learn/personal-finances/where-to-find-financial-assistance-covid-19
Tip: 1) Always utilize all available resources to assist you. 2) Always consider working directly with debtors for solutions and avoid any quick or short term "loans" that may exacerbate the situation. This is true always - pandemic or no pandemic!
YOU. Better! Studio
We work with you and have many energy and connection modality answers such as Personal and Group Training, Nutrition, Reiki and Meditation, Energy, and Chakra strengthening regimens to maintain, enhance, or rehabilitate energy, and Life and Career Coaching for You. Better! Email us at info@youbetterstudio, call us at 414-939-4996. You are also encouraged to like us on Facebook and follow us on Twitter. Sign up for services and free offerings here.
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