Skimm Special, Part 1: COVID, Women, and Their Wallets

Skimm This

theSkimm

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4.5 • 3.6K Ratings

🗓️ 28 September 2020

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Over the last few months, most of us have faced some sort of COVID-related lifestyle changes that have disrupted our everyday norms. Unemployment has skyrocketed, school closures have forced many moms to step back from work, and working from home has shut many women off from informal networking and mentorship opportunities that are key to career growth. On today’s Skimm Special, brought to you in partnership with Northwestern Mutual, we’ll hear from a financial advisor about how the pandemic is affecting the personal finances of millions of Americans, and women in particular. And we’ll also learn how financial planning can help Skimm’rs reach their goals and prepare for the future, even when the world feels upside down. On this episode, you’ll hear from: Chantel Bonneau-Stewart, Northwestern Mutual financial advisor If you want to add theSkimm to your daily routine, sign-up for our free newsletter the Daily Skimm. It’s everything you need to know to start your day, right in your inbox. Skimm'd by Ciara Long, Luke Vargas, Justine Davie, Marion Lozano, and Peter Bonaventure. ***NOTE*** The reference made by Chantel Bonneau-Stewart at 4:40 regarding 45% of adults having to make changes in regards to debt management can be found in the 2020 Planning & Progress Study, an annual research study from Northwestern Mutual. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's episode is brought to you by Northwestern Mutual.
0:06.6	No matter what your situation is, their financial advisors can guide you through it.
0:10.8	Get matched at Northwesternmutual.com slash the skim.
0:19.2	Welcome to Skim This.
0:20.7	We're doing something a little bit different today.
0:23.6	Over the last few months, most of us have faced some sort of COVID-related lifestyle changes
0:28.5	that have disrupted our everyday norm.
0:30.7	In Detroit, the rush to build a hospital as concerns rise about that city becoming the
0:35.3	next hotspot.
0:36.6	The gross domestic product fell by 9.5 percent between April and June when much of the
0:43.0	country shut down.
0:44.5	The biggest economic dive since the government started keeping records in 1947.
0:51.0	Some of us have been furloughed or laid off.
0:53.5	Some of us are figuring out how to balance childcare and work, sometimes even in the same
0:58.1	room.
0:59.1	And some of us are wondering, even if I'm okay right now, is it going to stay that way
1:04.3	over the coming months?
1:07.2	There are a whole bunch of questions that we've been hearing from skimmers that come down
1:10.6	to one thing.
1:12.2	Money.
1:13.2	How should I prepare for unexpected medical costs?
1:16.2	Is it sensible or even possible to be saving money right now?
	...

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