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Readjusting Financial Goals During Covid-19

readjusting financial goals

Here are some words and phrases being used frequently these days: “new normal”, “unprecedented” “like we’ve never seen before”, “in these uncertain times” and “uncharted territory”. None of us has ever lived through a global pandemic but we are learning how to adjust and shift with the times, but are we including our financial goals?

The movie Rudy is one of my favorites and if you’re unfamiliar, it’s about a young man who chases and realizes his dream of playing football for Notre Dame against some pretty staggering odds. He had abysmal grades; no one in his family had ever gone to college; his siblings were jealous and constantly discouraged him. On top of it all, he was a small guy. To quote a character talking to Rudy, “You’re five-foot nothing, you weigh 100 pounds and nothing, and you don’t have an athletic bone in your body.” Talk about raining on Rudy’s parade! The movie chronicles the relentlessness of someone bent on doing the impossible. Every time I watch this movie I am inspired to revisit dreams and goals I might have pushed aside or given up on.

Is it time for readjusting financial goals?

When dealing with our finances, I think too many of us let our negative circumstances or the word “no” intimidate us into paralysis.  Since these times are different, we have to be different and that doesn’t always have to be negative. What if this is the perfect time for resurrecting dreams and readjusting financial goals?  What if you throw yourself headlong into improving your credit report and your credit score? What if you search for every program available for first-time homebuyers and chase your dream of homeownership? Maybe you’ve already noticed how much less you spend on food, clothing, and gas and can pay down those bills that have been causing you angst for a long time.

What if YOU create your own new normal and use this time as an opportunity for financial reinvention?

According to Forbes magazine, “During the hardships of World War II, we witnessed an unprecedented period of innovation. Modern air travel, satellite communications, antibiotics, and GPS are direct results of those extreme circumstances.”

In The Innovation Ultimatum, author, Steve Brown says “Castaways endure on desert islands because adaptation is our strongest human superpower and survival is our strongest instinct. Just ask any anthropologist.”

While the COVID-19 pandemic is scary and the future is unknowable, there are still areas where we can exert  some control over our lives.

Here are some practical goals you can achieve

  • Order your credit report and look for areas of improvement. If you need assistance understanding your financial picture, a credit counselor can help.
  • Revisit the idea of an emergency fund. It may feel impossible, but small steps toward a big goal are achievable. Building up or maintaining an emergency fund can be crucial if you face a future financial crisis.
  • Brainstorm ideas for potential steams of income. So many cottage industries have turned masks into the hot new accessory. What talents or assets can you leverage to make a bit of extra income? Dust off your old journals, vision boards and ideas for businesses you can do at home. Has this pandemic revealed a talent or gift you never knew you had? Don’t accept “no”, not even from you. Giving yourself permission to succeed is half the battle on the way to your goals.
  • Build a household budget (or dust yours off if you have one that’s gotten stale.) The benefits of a household budget are enormous and can be the backbone of financial success.
  • Allow your heart to hope in a promising future against a backdrop of uncertainty.

If you have the opportunity, please watch the movie Rudy and get inspired. Readjusting your financial goals might be exactly what you need to start seeing yourself conquering financial mountains and knocking down money obstacles. You can do it!


If you are experiencing financial difficulty and are looking for a solution, CESI is here to help. Our counselors are available to assist if you are experiencing job loss, temporary loss of income or financial hardship during this time. Contact us today for a free financial assessment with one of our certified credit counselors.

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