Resilience is The New Black

It seems every month when I stop and pause to think what I would like to share, the landscape has shifted so abruptly, that I better it get it out there fast before something else comes up! Since I last wrote about moving past the pandemic, we have grappled with the floods and the war in Ukraine. By the time many of you are reading it, we may well be dealing with something else. We are all resigned to uncertainty now, and perhaps it was a certainty that has always been an illusion.

One thing is for certain, when it comes to our coping with our lives, and our money, resilience is going to be a key factor when it comes to success. Without it, life will become harder and harder to navigate.

So what is resilience to you? Is it getting through having covid and getting on with it? Bouncing back from rejection? Coping with an unexpected bill? Finding a solution to someone else’s problem? Whatever it is for each of us, it means having guts, and the mental fortitude and strength to hang in there, and not give up, even when the going is tougher than tough.

No doubt baby boomers learned a thing or two about resilience from their parents about coping after war. We are seeing remarkable cases of resilience and human decency all over the globe on social media as people help other people. Sometimes complete strangers. And I can’t help but think, perhaps all this hardship will help to bring us closer together. Both in our own communities and as a global community as well. These displays of strength and resilience are both inspiring and serve as a reminder of how precious human life is, and how we should take care of it.

So when I extend my theme of resilience out to money, it works the same way. How can you personally plan to make sure your finances are resilient? Are you rebuilding your savings if you have had to spend them in covid? Have you thought about getting a will, or updating yours? Have you looked at your insurance policies? Are they what you need? Yes, I know this sounds boring.

However, this kind of focus on your finances, even one thing, will help you build a financial resilience to shocks down the track – because who knows what else is coming.

So think about your own resilience. Celebrate what you have dealt with so far, and think about who you have helped. As humans, we all need to make human connections and know we are making a difference to people.

It’s been tough and it may get tougher, but knowing we are strong enough to face whatever it is that comes next, is a good place to be. And making a continued effort, even after taking a hit, to reinforce your wall of resilience around money, no matter if it is one brick at a time.

While we are all in this together, more than ever life has shown us that we also have to take care of ourselves and our own families.

Make sure you feel comfortable with your plan B.

Until next time,