In light of current world events, many people are experiencing abrupt financial insecurity. Whether going from one or two incomes down to one or none, or owning a business directly impacted by COVID-19, millions of individuals are experiencing significant stress around finances. Financial anxiety is one of the top reasons for chronic stress, but it doesn’t have to be.
On today’s episode our host, Dhru Purohit, talks with Christopher Girbés, a Certified Financial Planner and a Partner at AdvicePeriod. They talk about the details of the Coronavirus Relief Bill, who will be getting the CARES Act stimulus, how much, and how it will be delivered. They also talk about immediate ways to acquire money if you’re struggling to find a way to make ends meet.
Dhru and Chris also discuss 4 big ideas to tackle financial anxiety head-on, including:
- Understanding that real emergencies happen, that they’re not infrequent, and how to be prepared because it’s not a matter of ‘if,’ but when.
- Remember that crises can actually be opportunities to understand how better to prepare for them.
- When emergencies happen, step into the moment and learn from them.
- Create a system and not a budget.
Being aware of personal finances is an opportunity to create a system that works and to be prepared for the future, even when the present feels uncertain. Take financial power into your own hands by learning from this experience and preparing for the next one.
For more on Dhru Purohit, be sure to follow him on Instagram @dhrupurohit, on Facebook @dhruxpurohit, on Twitter @dhrupurohit, and on YouTube @dhrupurohit. Check out his website https://dhrupurohit.com/. You can also text Dhru at (302) 335-6565.