In continuing this series of keeping calm in the pandemic, it’s important to talk about financial stress.
With unemployment levels at an all-time high and businesses being shut down, millions of people are struggling to figure out how they’ll manage financially.
There is hope!
This particular message includes a story to inspire you and strategies to help you.
First the story to inspire you . . .
Last week, I was interviewed on The Morning Show to provide strategies to help parents reduce worry during the pandemic.
Before the show, I asked moms and dads to share their parental concerns related to COVID-19. One of the parents wrote this:
“As a parent, I’m scared of having to make the choice between paying my mortgage or paying for food.”
This is real. This is the kind of stuff that keeps you up at night.
Her worry was one of the four real-life examples I used during the interview. Here’s what I said in response to her worry:
“Can this mom control what’s happening because of the pandemic? Absolutely not; but, she might be able to brainstorm some solutions for her particular concern. Maybe she could contact her mortgage lender to talk about refinancing so she has some extra cash flow; or, perhaps deferring her mortgage payments. Those kinds of things.
Keep in mind that when we are overwhelmed, when we are in a heightened state of anxiety, it might be very difficult to see possible solutions. If that’s how you’re feeling, get on the phone with a friend and ask them to help you brainstorm.”
Guess what happened?
This mom did just that! She later reported back to me saying she had good news!
She opted to refinance her mortgage and, because the rates have plummeted, she got an amazing rate. As a result, she was able to increase her monthly cashflow! On top of that, because she secured a cheaper rate, refinancing didn’t cost her anything and it didn’t add any years to her mortgage!
I could hear her relief.
By the way, here’s the link if you’d like to watch that short interview on The Morning Show. It also includes strategies on:
- How to cope with balancing your child’s well-being with online schooling
- Two questions to let go of guilt
- How to end “What-if?” thinking.”
Now the strategies to help you . . .
Over three million Canadians have either lost their jobs or have had their hours reduced.
In addition to the stress of figuring out how to manage financially, many are experiencing the added emotional pressure of feeling like they are letting down their families.
If you are feeling that pressure, join me on CALM Online in a conversation with David Imler, Mortgage Agent for The Mortgage Centre – Rock Capital Investments, on:
Tuesday, April 14 at 7:00 p.m. (EST)
In this episode, learn valuable strategies to ease your financial stress. Discover the answers to the following questions:
- What are some no-cost ways to improve your cashflow during this time?
- How could refinancing your existing mortgage help?
- What are some options when it comes to mortgage deferral?
- What are the best things we can do to protect our credit scores during this pandemic?
Those who join us will receive a copy of 6 Ways to Recession-Proof Your Mortgage (compliments of The David Imler Team.)
Register here today!
These webinars are free of charge.
My intention is to help you ease your worries during this time. We look forward to having you join us online!
All my best, Denise Marek
1) To help your organization to reduce stress and worry within your business and with your clients, I deliver high-content virtual programs for immediate and lasting results. Please send an email to firstname.lastname@example.org for more information on programs and fees.
2) This is the link to watch my interview on The Morning Show.
3) Here’s the link to register for the April 14th webinar on: Financial Stress in the Pandemic – Easing the Burden