Bouncing Back – The horrors of last year’s COVID-19 pandemic have left behind tremendous fallout in many areas of our lives. Not only are many people suffering from grief over the loss of a loved one, they are suffering from various forms of mental strain. These afflictions range from depression over being shut up at home, to managing schooling for children while working, to Zoom fatigue.
Now that the vaccination rate is rising, the country is starting to open back up. So, we are seeing an unprecedented rebound of the economy.
“We’ve never had anything like it – a collapse and then a boom-like pickup,” said Allen Sinai, chief global economist and strategist at Decision Economics, Inc. “It is without historical parallel.” From the June 2nd, 2021, Wall Street Journal Article, Economic Recovery Is Here. It’s Unlike Anything You’ve Seen.
What does this mean for women?
You may have read about the cancellation of hundreds of American Airlines flights a few weeks ago, due in part to staffing shortages. The hospitality industry, one of the hardest hit during the pandemic, is rebounding fast. They can’t find enough people to fill the open positions. Job opportunities exist for anyone who is ready to get back out in the world and work.
If you have been living in a financially abusive relationship, perhaps this is just the news you need. Standing up and choosing to find your financial success by telling your partner that you are taking a job outside the home might be just the impetus you need to break the controlling pattern of your relationship.
Having your own income is a crucial step to building the wherewithal to establish yourself on your own. Make sure that your paychecks are directly deposited into your own private account. Build your reserves if you are trying to leave. Use your work to strengthen your self-confidence.
Living in a financially abusive relationship is detrimental to your well being. You are the only one who can change it. Seize this opportunity.
If you have recently left or are recovering from a financially abusive relationship, it takes time to rebound and build your financial house up. Does the current economic surge offer you an opportunity to increase your earnings?
Since the end of the shutdown there has been an incredible increase in new businesses opening. People are rethinking their lives and deciding what works for them instead of their employers’ restrictions tying them down.
Is this something you’ve considered? Maybe it’s finally time to launch that side hustle into a full-blown enterprise. Now is the time to take risks. People are doing more, spending more, and enjoying the opportunities that were restricted during 2020. The chance of success for new businesses is greater as the economy rebounds.
Now is a good time to evaluate your financial picture and decide if changes need to be made.
If changes need to be made, what will be best for you? How can you improve your financial security?
I encourage women everywhere to fully evaluate their current earning potential, career happiness, and then to make necessary changes. The world offers so many opportunities to expand in abundance. There’s no reason to stay stuck in a financially abusive relationship or to struggle for recovery if you are exiting one.
Sherry Lutz Herrington is the owner of Sherrington Financial Fitness, a business consulting and accounting firm specializing in strategic business planning and solid financial accounting for businesses. She is also the author of Strong Women Thriving (https://strongwomenthriving.com/), a blog which focuses on empowering women to be financially savvy, particularly after experiencing financial abuse. Sherry is currently writing a new book that both shares her personal story and addresses financial abuse. She can be reached at firstname.lastname@example.org. Join our FB group https://www.facebook.com/groups/womensurivingfinancialabuse