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Thoughts on Money Mindset During Covid – 19

The world has changed, your value hasn’t. Please hold on to this belief as you maneuver your way through whatever is happening in your job, business or life currently.

Uncertainty and transition typically breed fear and self doubt, both the logical and illogical kind. It’s easy right now to feel the push to charge less, or accept less value in exchange for your services or products. 

As we observe what people are going through, it’s an important time to bolster your money relationship and your mindset around money, because it is possibly under attack from negative thoughts.

There is a greater feeling of desperation, which leads people to feel like they should make adjustments to accommodate a “lesser” sense of worth. 

To be clear, people are taking pay reductions, and businesses are offering special deals, and that is all fine. That is a necessary career or business decision that you are agreeing to, so that you can continue operating through this unusual time.

Many are also self sacrificing as a choice – a conscious decision, and a generous one.

However, the fact that you may be earning less money in this period, or taking on a loan, does not mean that you are worth less than you were two months ago. 

You may be temporarily modifying expectations, but you are not resetting your value in the long term. Your sense of value may have taken years of nurturing to get it to where it feels right. 

Don’t abandon that investment in yourself now. It could be harder to rebound if you take that stance. 

Keep an empowered mindset going forward, regardless of external circumstances. It’s important to maintain the knowledge of your value, despite what might be happening in the marketplace near term. 

Guard against minimizing your own perceived value, as a result of job loss, salary changes or business shutdowns. 

Your worth is your worth based on what you know, your experience and the results you are able to achieve.  Keep your mindset strong around your value, and don’t lower it to accommodate what is happening in the marketplace. 

This is an opportune time to reinforce within yourself how valuable you are now, and will be in the future. You can use this time to increase that perceived value even more. Spend some time thinking and writing about the following:

  • Gaining awareness of your transferable skills
  • Exploring new avenues where your skills and strengths can be beneficial
  • Learning new skills to further enhance your value 
  • Finding revenue streams that you have not yet considered or tried 

In these tumultuous times, you want to avoid equating your value with earnings. Allow your worth to be determined by you, not the current circumstances.

If you’ve ever thought that the money you earn accurately reflects your value, think carefully. It very well might. Then again it may not. 

College professors are a good example. They have more education and knowledge than most and work very hard. They are teaching, doing research, often consulting and heading committees simultaneously. The ultimate results of teaching students and of their research efforts, create a significant ripple effect in the world.

In my opinion, their paychecks rarely reflect the value they provide in the world. So, in the best of times, you cannot always draw a line between the two. 

Professors know their value and they know that their salaries don’t always reflect their value. They choose the profession for many reasons, and have options to capitalize on their knowledge in other ways, if desired. 

When companies require pay cuts, furloughs, or are laying people off, that is because of their issues. If you are an employee, do not create a story featuring your failings, to explain those events.

If you are the business owner, then see where you can improve or add to your business in new ways, and remember that entrepreneurs are adaptive. Your money mindset should be powered up by that idea.

Should you know your value and be paid a salary that aligns with your value?


Does the marketplace play a role in determining how much you can generally expect to earn in particular fields? 

Of course. 

However, for this moment, as we weather this particular COVID-19 event, let’s be mindful of how current events can impact the way we view our value and potential. This is the time to hold fast to what we know to be true about ourselves in the face of challenging factors. And, to make accommodations, knowing that they are temporary and to keep our strengths top of mind. 

When it’s time to show up again fully, do so with confidence and ready to express your unwavering value.