Read our blog post to discover the challenges of minority women and the initial steps to fuel their resilience.
The path to success has always looked different for minorities versus other groups. As we face a turbulent and ambiguous period due to COVID, this path has been more difficult as barriers for minorities has become greater. This week on our Live at 5, we hosted Maria Locker from RevolutionHer to discuss the difficulties minority women have been facing during COVID and the steps they can take to fuel resilience.
What have been some societal challenges minority women have been facing?
Due to societal expectations, some women today still tend to prioritize other family members over their own needs. Although this might seem caring, it might be building extreme pressure on women to carry the weight of so many responsibilities without recognition or financial reward. For women of colour, there is the added discrimination and racial bias that might prevent their personal and professional growth.
Job loss, income instability, marital problems and childcare challenges have been extremely common across communities during COVID. However, because of isolation associated with the lockdown, some women assume that they are alone in what they are experiencing. This not only impacts the way women respond to these challenges but may also prevent women from seeking support. Add to this the pressure of managing the household responsibilities, put women at a high risk of facing burnout.
How can minority women strive to succeed despite these challenges?
Resilience is the most important factor for minority women to push back on societal barriers and create a road to success. Whether it’s placing a greater emphasis on succeeding in their career or educating others on societal barriers, minority women face a greater burden to work harder. During COVID, society has had to adapt to various changes and minorities have a steeper path to climb.
In order to stay resilient, minority women now more than ever, need to prioritize self-care. Having the mental capacity to efficiently problem solve is always crucial for success, especially during COVID. Our guest Maria shared how some of her business’ members succeeded in their business so well that they pivoted away from reopening their physical stores after succeeding and adapting to moving their businesses online.
Our tips to fuel your resilience:
Resilience is an important trait for minority women’s success. Setting an intention to succeed is the most critical step to turn that resilience into a process. Having a clear mindset is essential to be able to understand the challenges and plan accordingly. Self-care is crucial to prevent burnout.
-
Be open: Sharing personal struggles with others in the community help to realize the commonality of these challenges and reduce stress. Building an online community can also create a resource for guidance and help.
-
Filter mass media: The news we consume daily might have a greater effect on our mental health than perceived. Practise information hygiene and limit your consumption of news. Track your news sources to ensure you are receiving reliable information.
-
Break unhealthy habits: Self-care is about giving the best of you to others instead of what is left from you. If you are constantly burnt out and struggling, you might not be giving the best of you to your friends, family, and clients. Although you might not want to take a break from your tasks, taking a self-care day can improve your long-term efficiency are great ways to take a mental break.
-
Set an example: Modifying your behaviour is not only important for you but also for your family. If you have a family, you might not be passing on a resilient mindset to your kids. An unhealthy approach to self-care can have long term impacts on your children as they tackle the going pandemic of racism.
We hope you enjoyed reading our blog about ‘Minority Women during COVID’! Check the full live chat here. You can find our live chats and more of the latest financial news on our News Blog. Stay tuned to learn more tips on a new topic each week on our Instagram Live at 5 on Instagram! Aside from our live chats, we post daily financial updates on social media!
More Financial News & Events
Learn Hacks to Help You Build Your Wealth!
Aug
Video – Learn About Regulatory Compliance and Operations with Parthik Mehta!
Jun
BTS with the Sales and Administrative Department at TJP!
Jun
Video – Get to Know Jin Lee, one of TJP’s Financial Planners!
Jun
Video – What Does Financial Happiness Mean for Business Owners_
Jun
Video – How Do Retirees Define Financial Happiness & Habits to Maximize Their Finances
May
Conquer Tax Season With the Right Bookkeeper!
May
Video – How Does Money Tie Into Personal Happiness
May
Video – What Can You Do to Cultivate Your Financial Freedom
May
Exploring Financial and Emotional Resilience
Mindshift Mastery and Emotional Resilience
Creating a mentor mindset: How to become one or find one
Jan
Legal Financial Fitness: A Comprehensive Checklist for Thriving Practices
Jan
How to Mentally and Financially Prepare for a Layoff
Jan
2023 tax considerations you may have missed
Dec
How to Hold on to More of Your Cash this Holiday Season
Dec
Financial Moves to Make Before Year End
Dec
Navigating Stagflation: Financial Resilience in Uncertain Times
Nov
Buying and selling real estate amidst inflation
Nov
Navigating the Changing Tides: Real Estate, Inflation, and Rising Mortgage Rates
Nov
How does inflation affect your financial plan?
Nov
Caring for aging parents: The journey and lessons learned along the way
Oct
Resources For managing care for Aging Parents
Oct
Talking to Aging Parents About Finances
Oct
Living your best life: Infusing your best life into your your everyday
Oct
Living your best life: Striking the balance between enjoying life now or enjoying it later
Sep
Living Your Best Life: Client Testimonials and Insights
Sep
Unpacking FOMO: Understanding biases, emotions and financial attitudes
Aug
How to overcome FOMO to not overspend this summer
Aug
How to Overcome FOMO on Investments
Aug
What behaviours undermine your ability to build wealth
Jul
How Do You Loose Wealth
Jul
What Does Wealth Building Mean to Our Clients?
Jul
Estate Planning: What You Can Learn From the Mistakes of Celebrities
Jun
Estate Planning For Lawyers
Jun
Estate Planning for Business Owners
Jun
Managing growth for business owners
May
Are you a lawyer with questions on how to grow your investments?
May
Cultivating a growth mindset around money
May
Why financial growth can be deceptive
May
Home and Financial Document Organization
Apr
Business owners, it’s time to start spring cleaning.
Apr
Spring Cleaning Your Finances
Apr
Unique financial challenges female lawyers face
Mar
Taking Action: A Woman’s Perspective on Deciding To Tackle Her Finances
Mar
Is there a gap in your income protection?
Mar
Knowing the difference between Tax Filer and Tax Advisor
Mar
Conquering Women’s Fears Around Finances
Mar
Trends in Family Law
Feb
PART 2: Financial Conversations Couples Need To Have at Different Life Stages
Feb