One thing that will forever be certain is that life will change.

Living in today’s “new normal” has caused disruption in the way we live and plan for expenses. We have all been affected by weaving this new way of being into our everyday lives. The majority of us have had to adapt to a new way to earn an income, service others, interact with our partners, our children, our friends and the rest of the people who are part of our lives. 

All this has caused stress to our systems. Some of us adapted new strategies from working out at home, finding our space for some ‘Om time’ (aka meditation or breath work), adding more technology to our everyday lives to make communication and work a possibility. But the question is, how do we handle this new way of dealing with our finances? 

I wish I could share with you a great secret, a magic formula, a new way to do things but no matter how much I try to think of new ways for this “new normal” I come back to the basics. The basics are what keep us grounded and allow us to navigate through all changes in life. 

Basics #1

Just breathe…know that no matter what happens in life, it is a small moment of time in the essence of living. 

Basics #2

Know where your money is going.  Some of us call this a budget, I like to call it money allocation. 

Basics #3

Have a cash reserve! Now may be the time you need to touch it, or start one if you haven’t already. 

Basics #4

Make debt work for you, not the other way around. 

Basics #5

Stay proactive on your investments. Resist the urge to cash out and discuss with your advisor areas of opportunities. Make sure you are always in a position to take advantage of these moments. 

Basics #6

Continue allocating resources towards your long– term goals. 

Basics #7

Just breathe…stay focused and don’t lose yourself in whatever craziness is going on around. 

Staying focused and connected to yourself, your goals, your vision is perhaps one of the strongest assets you will ever possess. Work with an advisor who understands you, who will challenge you and who will be your sounding board to keep you leveled through changes in life. At Amida we enjoy being the right-hand person for our clients, if you feel you are short on any of these basics, reach out to us. We’ll be happy to talk with you.