Note: More to Life with Faith and Lois is designed to be heard, not read. We hope you’ll listen to the audio, which includes emotion and emphasis that won’t be on this page. Our transcripts are generated with speech recognition software and may contain errors. 

Lois 

Welcome to the podcast More to Life with Faith and Lois.

 

Faith 

I’m Faith.

 

Lois 

And I’m Lois.

 

Faith 

Our podcast explores the things you face in life that inspire and daunt you.

 

Lois 

Hello, Faith.

 

Faith 

Good morning, Lois. It’s good to be with you.

 

Lois 

It’s good to be with you too. And for those of you who are hearing us in a bit of a different era, or whatever you are right now you are because Faith and I continue to social distance, and we have begun to feel like Zoom is our friend.

 

Faith 

Indeed it is. I don’t know what we would do without Zoom. Because it’s one way that we’ve stayed connected. But this is very different to do a podcast in this particular way. But I’m glad we have this vehicle to get some things set today.

 

Lois 

That’s right, because during the season of coronavirus, our lives are being changed dramatically. Sometimes on a daily basis, so we thought that instead of planning ahead and having themes for you, our theme for the foreseeable future is coronavirus, and how it is impacting you. So faith and I have decided that we might like to hit on areas in terms of how you’re staying in place. I mean, maybe it has to do with how you’re raising your family right now, or working from home or feeling the economic impact or managing older family members. There are so many areas that you are facing right now. And if there’s one particular one you’re interested in, by the way, please, we welcome your input.

 

Faith 

Mm hmm. Absolutely. And there’s a lot of different reactions going on. And it’s so important just to know that during this time, all your feelings, all your reactions, all your experiences are valid.

 

Lois 

And so we’re here to focus on that today. And by the way, if you want to listen to other topics, because you want something else to hear, please know that you can still find them all on our web. sight mortal life with faith and Lewis comm or on your favorite podcast platform, we also have a weekly newsletter, where we will remind you of what we’re going to be doing in the next few weeks, and you are going to be hearing more about the corona virus from us. So if you want to sign up for that email, please go to our website and sign up and those podcasts will come directly to you. And by the way, every week, faith and I are also seeing each other visibly right now you’re only hearing us but if you want to see us every week, we are doing a Facebook Live on Thursday, late morning and we would love for you to join in that as well. So here we are now in a special edition of our podcasts. How are you dealing with the economic impact of this crisis? And Faith I think it’s always best for us to start with how we’re dealing with situation. So would you be willing to share how you’re managing right now?

 

Faith 

Well, for one thing, we’re hunkered down and we are staying at home as much as possible which is the majority of the time working from home, which both my husband and I feel very fortunate that we can see clients on line and continue to do our work. Not everybody is as fortunate. Some people have actually lost their jobs. So gratitude is a big part of helping me through this time of being grateful for what is is available. But that doesn’t mean it looks like it usually does, or new clients are just, you know, at the door waiting to come in. So we’re playing it cautiously, and with a lot of gratitude that we can continue to work. But being a little more careful, because we don’t know the outcome yet of what is how this is all going to unfold eventually for us.

 

Lois 

Faith that is so true. I think that is the big deal, right? We don’t know the outcome. And so every day that we have clients or interact with businesses, we know it’s a gift. And in our household much the same, my husband is upstairs and he is working on his business the best he can and managing and navigating work from home, as most of us are in this scenario, although I have neighbors who are in the healthcare industry, and I watched them leave every morning to go out on the front lines, and I just, you know, give a word of thanks for them as they head out and pray for their safety and their blessing as they are dealing with people. Right on the front lines. Myself, same thing, I just now branched into full time life coaching, and what a time to come in and really scratch your head going, Wow. And yet, because of Zoom, because of the ability to stay home and do this, it’s become a real blessing. And I know for you Faith, I don’t know about other providers, but for me, I’ve watched some of my clients go in a position where they’ve lost position their own jobs, and so I’m changing how I interact with them. Sometimes it’s a sliding scale, sometimes it’s completely for free. It depends on the person because we believe that this will come back. So I’m making a couple of pivots to because I love my garden and I and I like making kombucha and other things. And I’m wondering how that will play into the role, I have to encourage people, and maybe some more tutorials in that arena. So I’m actually starting to think a little bit out of the box, hoping that this is a season that will be over in a few weeks, maybe a few months, and maybe it isn’t. So I think that I’m taking it day by day like you are too. And we are noticing, on one level, the savings that we are incurring, because we’re eating inside all of the time. And so we’ve changed a lot of the ways we probably had financial flow going outward. A lot of that is staying in the household right now.

 

Faith 

Mm hmm. I think it’s just using wisdom and some discernment as to the unknown and at the same time, also being grateful and giving in the midst of it. And I’ve done that as well. And I’m finding that, that in on certain times financially, sometimes the giving actually brings some peace and some calm. And, you know, I did that with a friend of mine who occasionally comes in, and she will clean and because she hasn’t cleaned and done things because coming into the house, David and I both agreed that we would compensate her for a month just because we really truly appreciate her and like her a lot. And we know she’s struggling because she’s in transition with her job. So, even though we sometimes want to be really cautious, we need to also be open handed, and consider the ways how do we step into what moves our hearts to help someone else who maybe is in a worse situation than we are?

 

Lois 

face. I love that because we all have people in our lives that contribute and make us better make our homes cleaner better. And if there is a way for you to discover if they have a Venmo account or a place to send a check or something to do it is a gift that is unexpected by the receiver. And you’re absolutely right. It puts you in this different place. And we have had those conversations and those actions as well in our household and I love it that we’re on the same page. It’s just so much fun. Thank you.

 

Faith 

We’re kind of like that.

 

Lois 

Yeah, I guess so. I guess that that is what happens. Right? So you are listening to more life with faith in Lois. And we’re taking basically this kind of community pause that we’re having right this collective pause to look at the coronavirus and its impact on us and today we are focusing on the economic impact of this crisis. And if you are looking to ease your distress, if you’re facing a number of economic hurdles, I really like to suggest an article in The New York Times It was written by Tim Herrera, it was last month but you can find it it is called “Suffering through your first financial crisis? Read this to relax.” Now Tim Herrera clearly is a millennial and he has not been through one of these financial downturns before. So what did he do? He picked the brains of a number of seasoned financial investors who’ve been through other financial downturns. And we’re going to share some of their ideas and the ideas that faith and I also have in this arena, but one of the first places we’d like to start is how to keep your emotional feelings in check. When this happens when you see your portfolio drop. And Faith this is so important for every arena but especially in the financial one as well.

 

Faith 

Right? That’s what we call the heart sink. It just drops to the bottom of your belly. When you see those figures and you see everything dwindling and your savings is going out the window on your your cave. Reserve is going deplete is being depleted. Did not being put into so many fear factors can rise up, what is going to happen? What is going to be the worst case scenario and that’s where we usually go, the worst case scenario. And we imagine ourselves totally bankrupt on the streets homeless. And then it can become that catastrophic. A lot of times to people. They can’t imagine the in between, because that heart sink, sends alarms through your entire body. And you’re, you’re viscerally reacting to what you see. And it’s so important. That’s where you take that deep breath and go, we do not know what is yet to come. And it’s coming back into what can I do right now? What is my situation now? And how can I prepare for the next days ahead? And and that may be getting advice. We can Talk the various ways that we get support around that. But you have to deal with that first initial heart sink, you know, and it’s a reality. It hits us hard.

 

Lois 

It really does. And here’s some great suggestions by Deena Katz Evensky, who’s a professor emeritus in the department of personal financial planning at Texas Tech University. And she says over and over again, maintain this buy and hold mindset, whatever is happening when you get that heart sink when you get that fear and say, What should I do? The best thing you have going for you is time. And I was talking with a friend of mine whose daughter has just been accepted into a very prestigious university. And of course, her college fund at this point because of what’s happening in the market has just plummeted. And so they’re having to sit tight and as they talk to financial advisors, know that this is the place that they are in and these are the conversations that you are able to have with potential Financial lenders and if you’re in a really tough predicament, there are ways to move through this. So whatever you do, try not to pull things out and re adjust at this moment. It is the time to sit and to wait and to probably if you can have conversations with those people who might either be able to ease up some things or slow things down or understand where you are, and know that you will be back, because you will be back on you always come back.

 

Faith 

We do. I mean, if you look historically, it doesn’t mean you don’t suffer. It doesn’t mean that you’re not stressed. It doesn’t mean that you don’t have great concerns, but you survive it. And that’s the key thing is that we’re all going to get through this, but it’s how you survive it. If you survive it with a lot of panic, a lot of fear, a lot of anxiety, then that’s going to do a number on your health. Your emotional health, your mental health, and your physical health as well. And the key thing is you want to get through this and come out better on the other side. And so many good ideas, and so many wonderful transformations can happen during this time, if you will allow it and and be intentional about taking it one step at a time.

 

Lois 

And you know, if you’re getting really anxious about this, and it has to do with the fact that on your phone or on your computer, you’ve got all these push notifications coming to you not just by news organizations, by the way, but by your financial they mean well, but you have your your financial information that’s pushing this went down this did this or the stock market. Those might be the things to take off your push notification. We don’t suggest you know, living blindly and not knowing where you are, but you don’t have to be in such a panic state. That every time some news like this comes across You then go into that, you know, this mode and the sky is falling and there is a good way to do that. And that is to get yourself on a cycle of when you monitor it, to know it so that you are aware if you have to have those conversations, but not to have the crush coming in you and you know, faith and I talked about that the last time we in our, in our definitely in our Facebook Lives and another podcasts about this reality of, you know, limit the amount of news and financial news and all of that that you ingest, so that you don’t panic yourself and watch you if you can handle it. Wonderful, wonderful. Most of us need to be on a bit of a diet.

 

Faith 

Exactly. But at the end and having said all that it is also important that you honor the fact that what you feel in the moment or in the days following is very normal. Yeah, so it’s not like you’re doing something wrong. It is a shock to the system. It’s like anything that is unexpected. If you’re in an automobile accident, it’s unexpected, you have to deal with the shock of that. And the residue of that for as long as it takes to same thing with this, but deal with it, deal with it, don’t let it Don’t let it take so much root inside of you that it becomes a way of being base it write about it, journal about it, get support, talk to somebody, get balanced news, information, whatever you need to do to bring it into more of a central place, rather than the black and white place of looking at it.

 

Lois 

You know, Faith it’s so interesting that you bring all of these things up because no matter what topic we’re on, the premise for engaging in the fear is the same. And I think sometimes we think if it’s money Oh, then we only can look at the the checkbook and the financial advisor and this kind of thing and it’s, you’re absolutely right. It’s facing it and going through it. Sitting in it like, yeah, this is really difficult. But as one of the points in this article brings up, don’t let that consume you. So yes, it is something to actually face and it is something to sit in and to figure out where you’re going to go next. But then don’t let it consume you. And there’s a great insight from Alison Green, who writes this book and blog. It’s called “Ask a Manager.” And she said, If you got laid off tomorrow, what things would you wish you had done in the last few months? Those are the things that you can be doing now. And I think as we’re sitting here, not knowing what’s going to happen, and you’re looking at a list of what can I be doing on these days where I have a little more time is your resume up to date? Are your skill levels have you taken what you need to make sure that you can present should the opportunity arise, and it really is beneficial to us this time right now to take that step? Forward, face it. And I totally agree. acknowledge that this is really hard. And then what are you going to do next?

 

Faith 

Yeah, those are just the next steps in life. No matter what we face, we have to calculate and then think about where am I going next. But it is momentum. If you look at it, we really are moving forward on a continual basis. We feel like we’re moving backwards. We feel like we’re going to be held in restraints. We feel like we’re going to lose everything. And the reality is no, there is a momentum. It’s different and different doesn’t necessarily mean it stops you means it’s moving you in a different direction. Follow it.

 

Lois 

Yeah. And what’s so beautiful about connecting with people during this time. If you for some reason, get to this place where you feel embarrassed or you’re fearful or you don’t want to connect Here’s a great reason to connect. We’re all in the same boat. We’re all, you know, losing on terms of some financial status. All of us are no one is very few people I should say, are just going, Oh, this is you know, I’m writing this just great. We’re all struggling. And so when we talk to people, we realize, oh, we’re not alone. I thought she or I thought he was doing great. And actually, this is dropped off this way. So how are they using that drop off time to do other things? I mean, for Faith, and I, you know, Faith posts, amazing things to see on Facebook, I will create these wacky videos that you can watch me doing things. It’s how we function in these downtimes if you want to know how we’re dealing with the stress that comes around us. So, So reach out, talk to people, and you’ll discover Oh, that’s why you’re doing it so that you can function on a daily basis. We all have our ways. Right?

 

Faith 

Exactly. And sometimes we think, Oh well, somebody has a lot of money. They’re not really hurting. Oh, yes they are. And, and so it’s not whether you have a job where it’s an hourly wage, and you’ve lost your job. You’re in the same boat with somebody who’s made a lot of money, and they’ve just lost a lot of money. And they’re having to deal with the same kind of feelings you’re having to deal with. Because it’s gone. It’s not there, and what they were anticipating for their future or for their retirement, it’s no longer available. And so it’s important to recognize it’s not elevating someone at a different level. We’re facing it in different ways, but we’re feeling very similar feelings.

 

Lois 

I love that and we have to just keep reminding ourselves that our feelings are still valid and they may be completely personal, and others are going through it. So keep those lines of communication open. Probably the biggest gift that we can offer you are from those who are more seasoned who remind us that this is not our first economic downturn. And if you’ve lived through any big swath of the 20th century, you know what we’re talking about how many times did the stock market fall or maybe you were around or your parents were around or family was around for the Great Depression, to have watched what happened. And Brian Preston, who’s a CPA and he hosts apparently this podcast called “The Money Guy Show,” he actually says this downturn does not feel any different to me than other periods of panic and wild swings. In fact, he says whenever I hear new paradigm or This time, it’s different. I internally smile, because we are humming the same song. I have been here before. Now that you know and if you think that that’s being, you know, someone who doesn’t care about the situation, he’s just watched this and observed it and and time is the benefit here. If you can wait through this It’s just an interesting idea that not only has he seen this before, but you know, just be careful how seriously you take it in terms of that this is the end of the world as you know it, because this has happened. And Faith as you mentioned before, we’ve recovered

 

Faith 

We do, we do. I remember, even wasn’t all that load it was a matter of just years ago, looking at the decline in building No, there was no cranes to be seen anywhere. There were no bulldozers, no lane, the land loads to build condominiums and apartment houses and everything. And that went on for several years of where you just would go up and down, you know, the highway and nothing was happening. And then it shifted. And then it exploded. And we’ve been in the explosion time. And we’ve seen all the apartment houses going up everywhere because that’s the big thing. And and that’s been go quiet for a little while. You know, we’ll see that decline. Why There’s a recovery. But it doesn’t mean that it stops permanently. There’s an ebb and the flow. And there’s another tab and a flow. I think if we can accept that, rather than life is good and life is right, rather than wrong. If everything is flourishing, I, that is such backwards thinking, that does not dictate to us a good life or bad life. It’s life. It’s just life. And there’s an ebb and a flow to life. And we’re in it. And we need to learn to accept it and how to step into it and go, we’ll get through it, it will come back and how am I going to move through this time?

 

Lois 

And you know, there might be real big changes you make as a result of this happening. There’s so much being written on after the Great Depression and after the last big downturn. You know, a lot of people started boosting how much they saved because they never wanted to face This again, how many people do we hear living paycheck from paycheck paycheck to paycheck? Now maybe it’s because of the job you have. But maybe it’s also because you’ve spent a lot of money in the place you live. And so I think that there are conversations that I’m having over the fence with my neighbors is, you know, I don’t need this extra service that I’ve paid for. I don’t need this. And I’m learning that in this closed in time, but we are actually functioning like this. And I wonder, this time if we won’t carry that for a little while, it may not be forever, but it may be for a little longer time as we quietly as we come out of the coronavirus era at some point, as we decide when the area is clear. How do we want to live our lives – financially as well?

 

Faith 

Yeah, and I’ve seen people begin to make some plans about changing their career, that they’ve had something in the back of their mind for quite a while that they wanted to do but they stayed in where it was comfortable. And this is pushing them out of that comfort zone into maybe This is the time, maybe this is the time now I go and finish that education that I started and be able to move forward into something I’ve wanted to do for a long time. So there can be really major changes, but for the better, and helping your life in the future be more stable and more rewarding to you.

 

Lois 

So weird you as you sit in this and Faith mentioned this earlier, and you face this and it’s difficult. Use this time to look at what might be a shift that is bubbling up inside of you that you’ve considered, but you never went to that full arena because you didn’t have to. Maybe this is the time even if you don’t take the plunge that you can start doing exploratory measures to consider what that might look like in the future. Because if you can resist the urge to obsessively read about all the negative things that are happening, and instead use this time to open up your heart your mind as to what could come next. It might prove to be something that will really benefit you. And by the way, if you really do need to talk and you’re in a crisis point, we are absolutely letting you know that professional medical help is absolutely possible and important during this time. And you know, Faith is a registered psychotherapist, I’m a licensed life coach, should you need to talk to either one of us, you can find us on our websites and we would be willing to have conversations with you and walk you through some of  these uncertain times. And by the way, I haven’t certain times too. It’s not I just sit there and go what, why, who, where, and then I say alright, so how am I going to deal with this today?

 

Faith 

Navigating these on certain financial times can be daunting. And if you are or a loved one is sick, you are feeling the pain at a greater level.

 

Lois 

We hope that by connecting to those you love and reminding yourself of how you have managed tough times before you will be able to better face this anxiety.

 

Faith 

You are not alone. And we are here if you need to talk.

 

Lois 

And join us next week when we explore another facet of how we are managing life in these challenging times.

 

Faith 

Sign up for our weekly newsletter on our website and subscribe to our podcast wherever you listen.

 

Lois 

No matter what you face in relationships, your body, spirituality or your craft.

 

Faith 

We are here to assure you there is always more to life.

 

Lois 

We’ll be back next week.