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11.10.2020 Sharon Spano, Ph.D.

Beat the Anxiety of Covid-19 Money Worries

For much of the world, 2020 has proven to be a year of financial worry--a year we will never forget. Common business brands have disappeared.  Millions of Americans are still out of work in the United States alone. We’ve been sequestered in one form or another working to keep our businesses going and our families safe.
 
The political, social, and economic climate in 2020 has undoubtedly increased your stress and anxiety, and even as we move into a “K” recovery—with many doing extremely well during the pandemic and others struggling to survive—there’s no guarantee that 2021 will look much better.
 
Recovery will be slow with economic ripples yet to be seen. So, with so much uncertainty, what can you do to protect your business and your family?
 
  1. Stay Focused on What You Can Control
Many of you have been working harder than ever to stay afloat. Most of you have reinvented how you do business in one form or another. But, if you’re still finding yourself anxious with worry, start with examining your perspective and your behaviors with respect to time and money.
 
Yes, it all begins and ends with your mind. With the complexity of life ever-increasing, it’s more important than ever that you understand how you think about both time and money because your thinking directly impacts the decisions you make and the actions you take.
 
You can control your thinking, but you first have to understand the source of that thinking and what exactly is causing you anxiety and worry.
 
For many of you, that source of thinking is rooted in a narrative that has nothing to do with the pandemic. It’s actually rooted in your past and the things you’ve learned along the way. It’s might even be rooted in the family business history from generations long ago.
 
Strange as this might sound, it's something I see every day. Business leaders and owners plagued by scarcity thinking that has come down through the generations-- a DNA of fear.
 
The point is this: whatever you've struggled with most during the pandemic--whatever fears have risen up--are indicators of scarcity thinking that deserves a deeper look.
 
In other words, your fear represents a tremendous opportunity for growth.
 
2. Examine Your Patterns of Behavior and Commit to Change
 
Once you've recognized the fears associated with your worry, it's time to take a deeper dive in how to change your behaviors.
 
When I developed the Time and Money Habits Decoded assessment two years ago, I obviously had no idea that we’d run smack into a pandemic. What I did know was that many of my clients were paralyzed by their own thinking with respect to time and money, and they didn’t know why.
 
There’s no right or wrong in how you think about time or money. The mistake most people make is that they have little to no awareness of their thinking much less how it impacts their behaviors.
 
The next step is to explore your thinking patterns and how those patterns impact your choices. If you’re constantly worried about your resources, that information is important to acknowledge and understand so that you can determine what needs to change.
 
For example, if you’re paralyzed by current world events, perhaps "waiting for things to get back to normal," you may be wasting precious time and money doing things the way you’ve always done them when in fact you might be better off restructuring your business.
 
Many business owners I know this year have revisited their systems and processes to determine how to institute better efficiencies and cut costs where necessary.
 
How you think bout this season of life will determine whether or not you attract new opportunities. If you’re negative or overwhelmed, you’ll attract far less than if you shift into a positive frame of mind that will help you land on creative solutions.
Download Free Quiz
 
3. Take the Time and Money Habits Decoded Quiz (It’s Free).
Yes, I’m going to be bold enough to ask you to download this quiz right now. I’m even made it easy for you by including a link on the graphic above.
 
We’ve redesigned the report for greater ease. It’s strictly anonymous and confidential. NO financial information is required, and your personalized report will come directly to your inbox in a matter of minutes.
 
Take a few moments to explore your own thinking so that you have a better understanding of where you can effect change in 2021.
 
Once you’ve read the report, feel free to shoot me an email if you have any questions about how to break through the anxiety of money worries. I’d be happy to schedule a free consultation call to help you generate a plan of action--not a financial plan of action but a money mind plan of action--because without this, all the financial planning in the universe won't ease your worry.
 
It’s going to take each and every one of us to restore the economy in 2021. What you think and believe about yourself and your potential to attract money is a key factor.
 
Learn what’s causing you the greatest worry now so you can change the course for 2021.
Published by Sharon Spano, Ph.D. November 10, 2020