Navigating Financial Uncertainty: From Personal Struggle to Community Focus
As a millennial, I’ve faced my fair share of financial challenges, particularly during the Great Recession. The economic downturn had a profound impact on my career and finances, forcing me to adapt and find creative solutions to stay afloat. With over $25,000 in student loan debt, I had to think outside the box to make ends meet.
The Birth of a New Era
After graduating in 2011, I entered a gig economy where benefits like healthcare and retirement accounts were scarce. I waited tables for three years, sending out hundreds of job applications with no success. It was during this time that I realized the importance of budgeting, money management, and investing. This led me to create Bravely Go, a feminist financial education company aimed at empowering young people like myself.
From Inward to Outward Focus
In the early years, my attention was focused on personal survival: how to budget, build an emergency fund, and increase my income. I took on five side hustles, paid off my debt, and learned to manage my finances. However, with the onset of COVID-19, my perspective shifted dramatically. The new reality required a collective approach to navigating financial uncertainty.
The Power of Community
The pandemic has made it clear that we’re all in this together. No individual, industry, or economy is immune to its impact. While the Great Recession saw some people thrive, COVID-19 has brought unprecedented uncertainty. The need for collective action is more pressing than ever. By working together, sharing resources, and supporting one another, we can mitigate the financial fallout.
Collaboration and Transparency
In response to this new reality, I’ve shifted my focus to professional collaborations, community building, and revenue sharing. I’m hosting online events, like the Financial Feminist Summit, and partnering with other educators and professionals to reach new audiences. Financial transparency is key, and I’m committed to practicing it in my business and personal life.
Flexibility and Community Support
On a personal level, I’m prioritizing flexibility and community support. I’ve created a “recession budget” with my partner, reviewed my savings goals, and committed to supporting local businesses. Every dollar I spend has the potential to uplift my community, from local restaurants to fashion lines.
Embracing the Unknown
As I look to the future, I’m unsure what a post-COVID world will hold. However, I’m drawing on my experiences from the Great Recession to inform my financial decisions. By holding myself with care, remaining open to possibility, and supporting community, I’m ready to navigate the uncertain road ahead.
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