Q: Im worried about whats next with this COVID-19 crisis. We dont know when the stock market will recover, when employers will rehire or when the curve will flatten. We dont even know when well be allowed to walk in our parks or spend time with family and friends. Ill have a job to go back to, but I dont know how this will affect my finances longer term. Can you offer some ideas on how to survive this financially?

A: These certainly are interesting times. But dont fight your fears and negative feelings. Instead, accept them because they are bang-on. We simply dont know what will happen, because its actually unknowable at least in the short-term.

But if you believe, like I do, that humankind will conquer the coronavirus, then it can inspire you to hope. And hope can inspire you to action. And with action, you can achieve your goals.

This isolation time has been forced upon us, but you can use it for the better. You can think, plan and act now to improve your financial future.

There are two schools of thought on how to attain financial success: spend less or save more. Its much tougher (and less pleasant) to decrease spending to create wealth. Saving to build wealth is much easier (and more enjoyable) and the easiest way to save more is to earn more and then invest to grow that money.

So, let me ask you, when the COVID-19 pandemic becomes history, what will you have done to set yourself up for financial success? Dont dare let yourself down by permitting this time to pass unproductively.

If you elect to earn (and then save) more money, how will you plan now to make that happen in the future, after the coronavirus crisis is resolved? Will you go back to the same job and the same financial situation? Or might you contemplate a career move or advancement? If so, you could study online for a diploma through Mohawk College. Or simply read a number of ebooks to develop specific skills. You could take some notes from a video course and email them to your employer on how to make his or her business more profitable. Ill promise you theyll be impressed and may even offer you a raise when you are rehired.

Maybe youll investigate additional part-time employment or a side gig to complement your earnings from your job. Or perhaps youll explore becoming self-employed and starting your own business. Regardless of the means, now is the time to learn as much as you possibly can about how to earn more money to enhance your financial future.

This current worldwide situation might feel unsettling. Just the same and in spite of it make this COVID-19 crisis a distinct financial turning point in your life, for the better. I promise you that a time will come when youll look back on this with either a sense of accomplishment ... or a sense of regret. You can choose to take control of your financial success, even during this crazy situation.

I would never have wished this global health calamity upon you, me, or the world, but we have it. We dont know when companies around the globe will recover; but we know that they will. We dont know when jobs will return; but we know that they will. We dont know when the coronavirus curve will flatten; but we know that it will. And we know that well be allowed to walk in our parks and spend time with our family and friends. But I also know that it will be up to you, and how you use your time today, to determine if you will survive or thrive financially.

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Where will you be, financially, when this crisis ends? - TheSpec.com