Planning Your Finances During Quarantine Season. We started off 2020 setting goals and making resolutions and before we reached the end of the first quarter, in came Rona with her own plans! I sincerely do hope that everyone is safe and well and taking all the necessary precautions so we may begin to return to some new level of normal in the near future. So, where do we go from here?
While many of us have suffered some form of financial hardship either by experiencing a decrease in business sales, loss of clients, having to close our business all together, or any other type of financial hardship, we must remember that things will get better. The economy will open up again but there are questions many of us have:
- Should I apply for the federal assistance being offered through the CARES Act?
- How do I do this?
- Will it be forgiven?
- Will we as individuals and business owners operate in the same way?
- How do these changes affect our finances and the goals we have set for ourselves, our businesses, and our families?
There is no time like the present to take this time we have in quarantine to think about these things and many more. Strategize on how we can leverage this time to revisit the goals we set and see if they continue to align with the changes we have experienced and with what our new normal may be going forward.
I encourage you to take this time to review your goals, budgets, retirement plans, financial plans, emergency funds, federal aid including the Paycheck Protection Program through the SBA and reevaluate how they align with how you feel and how you envision your future post COVID-19.
Do you not have these in good order or set up at all? No worries! I cannot think of a better time to start… After every storm, comes a rainbow, so let’s get to it!
Virginia Vich is the Managing Partner at VXV Consulting. With over 18 years of experience, Ms. Vich can help you achieve your financial goals. 305.972.1415 | firstname.lastname@example.org | vxvconsulting.com
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