It was the night of December 31, 2019, and the entire world was excited to start 2020 off to a big bang. Everyone had completed their vision boards for the year, and they were all set to put them in action for the upcoming year. Somebody people had jobs and careers lined up they wanted to get into; others were planning extravagant vacations to exotic places. Some people like Angelica were thinking of living her best life in Bali with her sisters during spring break and in Toronto with her girlfriends for her birthday. No one in their right mind would predict a virus, across the world would wreak such havoc on earth. Or that this year would actually turn out to be the worst year in everyone's lives.
Okay, so per usual, I'm being extremely dramatic! I figured since we can't all go to movies, why not bring the movies to everyone. I saw a meme from one of my Instagram followers that said, "We can all agree when someone asked us what we would be doing in five years, we all lied." I thought it was hilarious and so true! Who would have thought most of us would be working from home? However, with every blockbuster movie, at least the good ones, there is always a twist. That twist was our finances!
When my husband I started the year, we were already planning on paying quite a bit of debt off. We some home improvement items that we had put on a credit card, student loans, and a line of credit from the year before we had accumulated. See the prior year, we had purchased our house, and like most things, when you buy a home, things seem to happen. In the fall of 2019, the garage door sensor broke, the garbage disposal jammed, and the sump pump died. All these things added up quickly, and the once very plump-looking emergency fund was looking scanty. I went into 2020 with priorities, but even I'm not going to lie, it wasn't still my priority to necessarily address everything, most things but not everything.
Well, with COVID, my my my, how the tables have turned. Not only have we paid off all our commercial debt, but we have only some of the loans left because some have been paid off. Not to mention our emergency fund has blown up so much, we now we have two—one for when investment opportunities and one for just in case. I can now list what COVID has done for us financially.
It allowed me up more responsible when it comes to money. My priorities in 2020 were travel, food (I love to eat), and debt. I always felt that paying off debt was important, but I also wanted to live life to the fullest.
Starting my Financial Lioness blog and putting my mouth where my money is when it came to finances. I love talking about money and making money. I had started this blog a while ago in 2018 and didn't touch it until COVID came. What better time than now to talk about money management and finances.
I saved and invested more in the last year than in my entire life. I had always been a strong advocate for saving and investing, of course, but I always felt like fun got in the way. The fact that I've been so serious about my money journey proves that sometimes you do need to sit down and get serious.
Getting into grad school was one of the benefits of COVID. I've been thinking about school for a while now, but COVID kicked that into high gear for me. It's like there was something in me that said, if not now, then when! So I went on ahead and applied in the summer to start school in the fall.
I know everyone is honestly dealing with COVID in their own way, but we all have to be thankful for our blessings, health, and loved ones. It's definitely stressful with all this uncertainty; trust me, I'm literally crawling on the walls of my place some days with anxiety. The only thing we can do is be happy with what we gained and know that nothing in life lasts forever.
The Lioness is a financial blogger based in the Twin Cities. After spending most of her career in accounting, she decided to leap into the world of small business, investing and savings. As she is on this journey of juggling both her career and small business, she wants to share what she is learning along the way, as she builds her passive income.