Tarra Jackson, known as Madam Money, is a seasoned Personal Finance Expert with over 20 years experience in the personal finance sector as a corporate trainer, loan officer, Vice President of Lending and Executive Vice President at several major financial institutions. Tarra is the author of the best-selling book “Financial Fornication” as well as a nationally acclaimed speaker, commentator, consultant, author, & syndicated blogger covering topics from cash and credit management to insurance and investment basics.
With the Coronavirus spreading across the globe, the United States has finally got its wake-up call with the first two deaths in Washington state, and now we must prepare for a pandemic. A pandemic is a widespread infectious disease, bacteria, or virus that sickens a large number of people worldwide. As we begin to learn how to prepare and protect ourselves from this highly infectious virus, the question that we must also address is, “how will this pandemic affect our finances?”
There have already been rumors and signs of a recession. However, the threat of a Coronavirus pandemic is frightening even the most confident economist.
Instead of panicking, we must focus and prepare financially. Here are few ways to financially prepare for a pandemic.
Build an Emergency Fund and Keep Cash on Hand
Preparing for a pandemic is like preparing for any other emergency like a natural disaster, power outage, or major medical occurrences or accidents. However, there is time to prepare for a pandemic because we have ample warning of its potential arrival.
An emergency savings fund will help to cover expected and unexpected medical costs that could arise from being sick, including doctor visits, medications, tests, or even lapse in pay while out of work. Now is the time to start an emergency fund or contribute a bit more, if possible. Setting aside even small amounts to the savings account can make a big difference. Remember to “Save Something Sooner!”
It is also a good idea to keep some cash handy when needed for emergencies.
Check Your Health Insurance Coverage & Sick Leave Policy
Review your health insurance coverage to understand what is and isn’t covered. When it comes to paying for medication, prescription discount cards are a great way to save money, whether insured or uninsured.
Also, check how much paid-time-off (PTO) or paid sick time accumulated or available because some companies may change their policies due to the Coronavirus outbreak. Asking about the opportunity for telecommuting or the company’s remote work policy may be beneficial, as well.
Review Your Investment Portfolio and Act Your Age!
With the stock market dropping rapidly and consistently over the past few weeks, many consumers saw their investments and retirement accounts dwindle. For the young investors with more than 10 – 20 years before retirement, waiting out this market dip may be the best thing to do. Markets move up and down, however over time, they rebound.
However, for mature investors who have less than ten years to retirement, now is the time to reevaluate your investment strategy and consider less volatile investments or accounts to protect what’s left of your principal balances. The reality is that older investors may not have enough time to recover what they need for retirement.
Regardless of age, consult with an investment adviser to discuss the right options for your situation.
Leverage Online Banking Services
Many banks and credit unions offer user-friendly online and mobile banking services to complete a wide variety of transactions from the convenience of your home. Using secure online banking services is an excellent way to manage your finances during a pandemic.
Consider setting up direct deposit for your paycheck, as well as automatic payment or bill payment for monthly bills.
Executing these strategies, as well as health tips from the World Health Organization, will help you prepare for this possible pandemic and other emergencies.
Financial services industry has always been a male dominated field. Financial experts giving cookie cutter advice didn’t always fit the mold of most women, like myself. The reality is women face different challenges when it comes to health, relationships, career and money.
When I decided to enter the financial education space, I was so delighted to know that there were other amazing women who were just as passionate about financial literacy.
So, in honor of Women’s History Month, I wanted to share 31 Women Financial Experts you should follow.
#1 – Tiffany Aliche
Tiffany “The Budgetnista” Aliche is America’s favorite financial educator. The Budgetnista is a spokesperson and passionate, award winning teacher of financial empowerment. She is an Amazon best selling author and the founder of the Live Richer Challenge!
As a nationally recognized money expert, Stefanie O’Connell‘s mission is to help ambitious women feel as confident with their money as they do in their careers. Stefanie is also a published author.
Sandy Smith is a Side Hustle Expert focused on improving people’s lives financially. Sandy is the founder of the award nominated blog, Yes I Am Cheap which helps people save money, get out of debt and increase their income so that they can live their best financial lives.
Athena Valentine Lent helps Latina women turn off the noise in their head so they can focus on money instead. Once homeless in high school, Athena is now the founder of Money Smart Latina, where Latinas and finance meet.
Marsha Horton Barnes is a sought after Certified Financial Social Worker, Financial Educator, and finance commentator. The Finance Bar was born based off of her desire to provide financial resources and guidance in a creative and nonjudgmental way.
Melanie Lockert is the founder of the blog and author of the book, “Dear Debt.” Melanie is also the co-founder of the Lola Retreat, which helps bold women face their fears, own their dreams and plan to be in control of their finances. Melanie is passionate about empowering women to get out of debt.
Tonya Rapley is a millennial money expert and creator of the award winning site, My Fab Finance. Tonya’s mission is to help millennials break the cycle of living paycheck to paycheck so that they can become financially free and do more of what they love.
Amanda Abellais a brand ambassador, an online business coach, and a Latina millennial money expert. Amanda has a passion for business, fascination with money and desire to empower her generation.
Lynnette Khalfani-Cox,The Money Coach®, is a personal finance expert, television and radio personality, and the author of numerous best selling books. Lynnette is an award-winning financial news journalist and former Wall Street Journal reporter for CNBC.
Miranda Marquit is a freelance financial journalist and money expert. Miranda specializes in topics related to long-term financial planning, beginning investing, and running a home business. Miranda is a podcaster, website owner, and business owner.
LaTisha “Tish” Stylesis a lifestyle influencer, speaker and marketing consultant helping clients grow an online business. Tish is the founder of Creating Coins®, which provides courses and trainings in digital marketing.
Shannon Lally McLay shares tips, tools, and ideas to help people make the best financial choice at her Financially Blonde blog & podcast. Shannon is also a personal Financial Fitness Trainer and CEO of The Financial Gym, which creates and maintains a financial fitness plans, customized to clients goals, budget and lifestyle.
Natasha M. Campbell, known as the Wealth Stylist™, provides training, coaching, and workshops to women! Natasha is also the founder and host of The Wealth Stylist Podcast. Natasha has built a business from the heart that is creating lasting transformation in the lives of others.
Brittney Castro inspires people to use their money to live their dream life. Brittney teaches money principles that changes her clients’ financial life for the better, forever. Brittney partners with her clients to navigate the different stages in their lives.
Tela Holcomb is not a stock broker, but she is an ambitious mom and wife who will stop at nothing to build a legacy of wealth for her family. Tela is a straight-talking success igniter who pushes people to propel past their most unimaginable dreams. Tela is the founder of Trade Your 9 to 5™ courses.
Kate Dore is a nationally recognized money coach, financial planner and personal finance writer. Kate also educates and engages audiences as a featured speaker and workshop presenter. Kate created Cashville Skyline website to share her expertise in personal and behavioral finance.
Dorethia Kelly is a national speaker and author of “#MoneyChat: The Book.” Dorethia is also a personal finance, entrepreneur and nonprofit coach. Dorethia founded the #MoneyChat movement to make talking and learning about money fun.
Erin Lowry helps millennials get their financial life together. Erin’s best selling book “Broke Millennial” provides refreshingly simple advice with hilarious true stories and is an essential roadmap every financially clueless millennial needs to become a money master.
Patrice Washington, known as the Money Maven, is the financial voice of the nationally syndicated Steve Harvey Morning Show where she empowers millions. Patrice is now helping people Redefine Wealth by teaching how to Chase Purpose … Not Money through her podcasts, videos and events.
Elle Martinez is the creator of Couple Money blog and podcast, as well as Marriage and Money Tip Show. On her popular Couple Money podcast, Elle talks with financial experts, renowned journalists, and real life couples who have done extraordinary things with their money.
Michelle Singletary is an award winning, nationally syndicated columnist for The Washington Post. Michelle is the author of several best selling books, including the “The 21 Day Financial Fast: Your Path to Financial Peace and Free.”
Emma Johnson is a veteran money writer, noted blogger and popular speaker. Emma’s popular blog Wealthysinglemommy.com, and podcast Like a Mother, explore issues facing professional single moms: business and career, money, sex, relationships and parenting.
Candice Marie Latham started Young Yet Wise blog to document her own money journey of not knowing much about money to paying off 47,000 worth of debt. Today, Candice inspires millions of ambitious professional woman to master their money and life.
Melissa Leong is one of Canada’s best-loved authorities on personal finance. Melissa is a sought-after speaker, national media personality, best-selling author and award-winning writer. She’s the author of “Happy Go Money” and is the money expert on Canada’s leading daytime talk show, The Social on CTV.
Tai McNeely has spent years in the financial industry, helping people with loans, debt, and money matters. Tai now shares her knowledge and expertise on the award winning platform of “His and Her Money” blog and podcast, which she co-founded with her husband, Talaat.
Farnoosh Torabi is a favorite go-to money expert, sought-after speaker and bestselling author. Farnoosh interviews leading financial and business experts, authors and influencers about their financial perspectives, money failures and habits on her award winning podcast, “So Money.”
Ashley Hill is a college funding expert, speaker and conducts professional development training for new college students. Ashley teaches parents and students how to pay less for college and all of the expenses associated with going to college.
Kassandra Dasent is a personal finance consultant, educator and speaker who addresses the emotional impact and effect that money has on people’s lives. On her Facebook Live series “Minding Your Money with Kassandra Dasent,” she shares information, advice and resources to help viewers achieve their financial goals.
Lisa Phillips is a real estate investment expert and founder of Affordable Real Estate Investments, a fast growing community of real estate investors who want more… more success… more profits… and more security with in their real estate investing strategy. Lisa helps professionals build profitable rental property portfolios.
Patrina Dixon is a Certified Financial Education Instructor and international speaker. Patrina is also an award winning author of “It’$ My Money™” journal book series, workshops and book club. Patrina’s passion is serving her community and providing money management strategies to people of all ages.
Deborah Owens is a financial services veteran with more than 20 years of experience and a former vice president of Fidelity Investments. Deborah is on a mission to show people of all incomes how to build wealth. Her keynotes and workshops engage, enlighten and inspire audiences.
My name is Tarra Jackson, aka Madam Money™. I am a personal finance expert, international speaker and contributing writer for BlackEnterprise.com and Upscale Magazine. I am also the author of best selling book, “Financial Fornication” and proud founder of DUALpreneur.com, a community that provides resources to entrepreneurs that also have full-time jobs.
With the right tools and resources, your prosperity venture can be a fun ride. Here are a few of my favorite financial resources to help you with saving money, investing…
Even if you have a working budget, there is a set of expenses that will make or break your spending plan. These safety-net expenses are often overlooked or ignored.
Some experts say another recession could be on the horizon. Madam Money Tarra Jackson shares how millennials (and everyone) can financially prepare for a looming recession via Cheddar TV.
Tarra “Madam Money” Jackson is a financial educator, international speaker, author, and wealth empowerment strategist helping you heal, build, and grow your wealth.
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