Sallie Krawcheck, CEO and cofounder of Ellevest, wrote an article last week about five things that the coronavirus pandemic has taught us about financial wellness. These lessons are:
Some were hit harder than others during this time: Some people lost jobs, some lost savings, others lost loved ones. In short, every person has been negatively affected in some way, shape, or form by the novel coronavirus.
Companies found ways to grow and prosper despite these hard times: She calls this “Capitalism in action;” she points out that the stock market has consistently and historically been a generator of wealth for Americans. She also highlights the necessity for financial comprehension to enable this type of long-term financial growth.
Financial wellness is receiving the spotlight right now; we should keep it this way: Krawcheck argues that financial wellness should be viewed in the same light as emotional, spiritual, and physical wellness. Money is the number one source of stress for many, and financial wellness can reduce this stress.
Employees have learned more about their employers due to the pandemic: Were they sympathetic? Demanding? Flexible with hours?
Money can fuel the lives we want to live: “If you don’t control your own money, you don’t control your own life.”
For more information on how the pandemic has impacted views on financial wellness, visit: 5 Things the Pandemic Taught Us About Financial Wellness.
Written By: Your Financially Fit Me Team
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