Rebooting 2020: How to Take Back the Second Half of the Year After COVID And Economic Uncertainty

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Think back to your resolutions for 2020. You might not have felt confident about your ability to save money or lose weight, but you probably assumed that, at worst, you’d continue with the status quo. COVID-19 threw all that for a loop, with illness, job loss, and lockdown changing nearly every facet of daily life. Suffice to say, we’ve been put through the wringer this year.

At this point, it’s tempting to give in to pessimism and assume that the remainder of the year will be equally awful. After all, people are still suffering from the disease and its economic impact. That being said, it’s still possible to make the most of a difficult situation, as we discuss below:

Set New Goals

It’s tough to think of the future in such an uncertain world. As such, many of us have abandoned goals altogether. Unfortunately, this doesn’t make us feel better — it makes us feel driftless.

Goal-setting may not feel practical, but it can provide a much-needed sense of purpose in a chaotic world. If necessary, keep goals small and manageable. What can you do today to make a difference? From daily walks to setting aside a few dollars in a savings account, efforts to achieve small goals can grant you some semblance of control.

Experiment With New Coping Mechanisms

Your previous coping strategies may be off-limits, but that doesn’t mean that you lack options for finding stress relief. Plenty of solutions are available within the comfort of your own home. If you can’t hit the gym, try online exercise or yoga videos. Download a meditation app in lieu of an in-person class. Schedule a video chat to decompress with friends. Even reading a book or taking a walk could provide a few moments of much-needed relief.

As you seek a better end to 2020, don’t forget the important role of taxes in your day-to-day life. Contact the Highland Tax Group to learn how we can help you tackle tax debt and other IRS issues.