I do want to acknowledge that things have been very difficult in the world right now. I have a solo podcast episode that I will drop tomorrow to talk more about it, but if you follow me on Twitter or Instagram, then you already know my stance and my feelings about everything. It’s been a trying week trying to focus on anything, but I think what’s going on right now is so important for us to progress as a society.
But, that’s not what this episode is about. For this last interview of the season, I have the amazing Lauren Silbert, VP, General Manager of The Balance (one of my favourite personal finance resources). I recorded this episode a month ago at the beginning of May, and we discussed how to make sense of money (and manage it the best way possible) during this pandemic.
I just learned that in Ontario (where I live), our State of Emergency status has been extended until June 30, so we are still in the thick of it. I have no idea what the rest of the year will look like, but if there’s one thing I do know, it’s what to do with your money during uncertain times. This is the time to preserve your capital, save up that emergency fund I always talk about, and avoid making any emotional decisions with your money.
Moreover, this is the time to start taking your finances seriously. I know it can feel overwhelming and stressful, but during chaos is the best time to try to create some stability in your financial life. So even though I’ll be going on summer hiatus for the show (I’m sure I’ll pop in with a few bonus episodes though), take this time to listen to other podcasts, read blogs and books, and make improving your financial literacy your number one priority.
Resources You Should Check Out
Want to continue learning how to navigate money during the pandemic? Here are some great resources from The Balance!
- Coronavirus Hub on The Balance
- Financial Experts Answer Your Questions About Money and COVID-19
- How Credit Card Companies are Helping During the Pandemic
- What to Do if You’re Struggling to Make Monthly Payments
Looking for Financial Help?
Looking for some financial help during these tough and uncertain times? I’m currently opening up slots to my financial counselling program, and have just reduced the prices on all my online courses to make the more accessible. Moreover, I’ve just opened up a scholarship program so if you still want to enroll but can’t currently afford to, you can apply for a scholarship here.