Are you worried about money in 2020? (Here are 7 things you can do ASAP)

Do you have Covid related financial anxiety?

If so, you are not alone.  According to a 2019 Gallup poll, 25% of people worry about money all the time.  And that was before a global pandemic forced many people out of work, or working less often than normal.  

I’ve been spending the past few months grateful my husband has a job where he works remotely every day to begin with.  He doesn’t have to lose work, or expose himself to germs on a daily basis.  But sadly, we seem to be in a lucky minority.

People are scared about getting sick, or watching their loved ones get sick.  But they are also worried about how the pandemic will devastate both their personal financial situation and the economy as a whole.

In this post, I’m going to talk about how being worried about money can manifest itself physically and emotionally.  I’m also going to talk about how to fight limiting beliefs about money, and ways you can make extra money on the side until all of this blows over.

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Also, I am not a doctor or mental health professional. Just someone who has lived with anxiety for many years who is passionate about sharing her experiences and tips for success. If you are in crisis call your doctor, then click here for some good mental health resources.

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How being worried about money can manifest itself

Constant worrying about anything can have a lot of effects on your mind and body.  Mayo Clinic lists some amazing reasons why you need to focus on the positive and ditch the negative.  They say that practicing positive thinking can lead to:

  • Longer life
  • Less frequent depression
  • Lower stress level
  • Better immune system
  • Better psychological and physical well-being
  • Improved cardiovascular health 
  • Better coping skills when you’re going through hard times

So, let’s look at this from another angle. What happens to your body when you allow yourself to worry constantly?

  • You don’t live as long.
  • You feel sadder more often.
  • Typically, you feel more stressed.
  • You are sick all the time.
  • You experience a worsened health overall.
  • More risk of dying from cardiovascular disease.
  • You find it harder to cope with life’s challenges.

Now, can you see why it’s so important to try to not worry about money?  It really affects your health!

Keep reading to find out what limiting beliefs are, and how you can fight them.

purple background with white text that says "Are you worried about money in 2020? (Here are 4 things you can do ASAP)" with a black and white image underneath of a main looking at money symbols

Pro tips on fighting limiting beliefs about money

You might see people reference limiting beliefs in articles about personal development and mindset, but what are they exactly?

What are limiting beliefs?

According to an article from Forbes, “There are moments in life when something happens. We make up a story about the why and the what. We start to live as if our story were true. Because we believe they’re keeping us safe. The truth is, these stories are stopping you from getting the big results you’re looking for.”

Basically, your brain develops blocks that prevent you from being successful in certain areas of your life.

Here are some examples:

  • Relationships are meant to be hard.
  • All rich people are corrupt.
  • Friends come and go.
  • People always end up disappointing you.
  • Success is for others, not for me.

These stories are not just untrue, but they take root in your mind and hold you back from meeting your goals.

purple background with white text that says "Are you worried about money in 2020? (Here are 4 things you can do ASAP)" with a black and white image underneath of a woman putting a coin in a piggy bank

How can you fight them?

It’s important to try to challenge them whenever they come up.  Here are 3 methods you can practice on a daily basis to motivate you to be more positive and successful.

Cancel cancel method.  

I wrote about this a while back in a post about negative thought patterns, and it’s been very helpful for me.  It’s simple.  Every time a negative thought comes up, you say or think “Cancel cancel,” and follow it up with a positive thought.

I love this not only because it doesn’t cost any money, but over time, it really teaches your brain to lean toward more positive thoughts.

Here is an example of this method in action:

“I will never be successful and financially free.”

-Cancel cancel-

“I am working toward my goals every day, and I am capable of improving my finances.”

See? Easy as that!  Now, it’s not going to change your natural thought patterns overnight.  Like with any habit, you have to practice it regularly for at least a few weeks to make it stick. 

If you think you will forget to do this each day, you could set a reminder on your phone to go off a few times a day saying “Cancel Cancel.”  Or you can put a Post-It note in a few different places around the house where you are likely to see it.

The more often you tell yourself it’s possible to improve your money situation, the more likely you are to take action and put the work in.

Surround yourself with successful people.

If you want to believe that success is possible, surround yourself with people who have made it happen!  That doesn’t mean you have to drop all your less successful friends, but they say you are a product of the people you spend time with. Share on twitter

A good way to do this without ending friendships is to follow tons of successful people on Instagram or Twitter.  Engage with their posts and ask questions.  Not only will seeing their stories of wealth motivate you to keep going, but you will likely learn some of their secrets.

It’s a good idea to start a notebook for Google Doc and write down all the things that you learn.  Review this often and you brainstorm some action steps you can take.  Remember to make them as bite sized and manageable as possible.

For example, you follow Kelly K on Instagram, and she made $5 million last year promoting her lifestyle brand.  She posted the other day about how blog traffic was how she made most of her money.

Write this down, and then write down some subsequent action steps, like this:

Blog traffic can be a source of income

-Research starting a blog

-Join a blogging group on Facebook

-Purchase a domain name

-Set up a blog account + a hosting service


Try to come up with as many things to work on as you can think of, and try to cross off at least one a day!

Here is a free PDF you can download to get started.

Ditch Negative Nancies.

As important as it is to surround yourself with positive, successful people, negative people also have a converse effect on your limiting beliefs. They drag you down and reinforce your beliefs that you cannot be successful.

I’m not saying to cut loved ones out of your life just because they are negative.  But if your aunt for instance, always reinforces your limiting beliefs about money and has a massive poverty mindset, you might want to limit the amount of time you spend with her.

What is a poverty mindset? According to a Medium article I found, “Poverty mindset is a belief system that life is full of scarcity. It is the mindset that things are hard to get, that money is hard to earn, and that there isn’t enough out there for us. Poverty mindset rears its ugly head in the things we say, the thoughts we think and the actions we take.”

A lot of times this is based on how a person is raised, and not technically their fault. But try not to fall into this trap yourself!

4 ways to get a side hustle going

If you are super worried about money, there are a few ways you can earn a little extra cash on the side. They’re super easy and don’t cost much to get started.

Freelance work

There are lots of sites out there like Upwork or Thumbtack where you can get started doing freelance/contract work for others. For example, you can sell your handy person services (electric, plumbing, carpentry, etc.) Or you can start a house cleaning business and market it there. Another common type of freelance work is editing and writing copy for websites/blogs.

The point is there is a lot out there. Most sites don’t have a start up cost, so it doesn’t hurt to look into it!


You could always offer your services as a tutor! You could teach English as a second language (or whatever your native language is). Or you could pick the subject you’re most passionate about, whether it be math, history, or geography, and offer tutoring sessions for school aged children.

You’d really be surprised at the amount of people looking for this service. You can check for jobs that might suit your schedule and interests. Even during social distancing, you might be able to do it virtually!


With many day cares and school closed, this could be a hot market for people looking to earn a little extra cash. Have a friend that’s forced to work from home while managing their 18 month old maniac? Ask her if she’d be interested in having you babysit a couple days a week, or even full-time. Whatever works for both of you.

This is a great one to consider not only for the financial benefits, but the additional mental health benefits. Depending on the age of the child, they might be able to help keep your own children entertained and provide them with positive social interaction.


If you liked writing, and are a little tech savvy, you could consider starting a blog. It doesn’t cost that much to get started and you have multiple streams of income to benefit from.

  • Affiliate marketing
  • Premium ad networks
  • Selling digital products
  • Selling physical products
  • Providing services

There’s something for everyone out there, so do some research and see if it suits your skillset.

Don’t let money anxiety and worry about the future rob you of joy in the present.

No matter what you decide to do, your mental health matters. You deserve to live a life that’s happy and worry free. Like I’ve said before, you only get one life.

I know that sounds a little morbid, but it’s true. We all have a finite amount of time on Planet Earth. How are we going to spend it?

Are we going to let ourselves drown in crippling financial worries? Or are we going to get out there and make life amazing?

You might not pass on to the next realm with a billion dollars in your bank account. But you can strive for more than you started with, and live a life rich with joy.

So, get out there, and take some action.

After all, worrying about money isn’t going to make you richer!

Thank you for reading my post!

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Related posts about financial stress:

Taking control of your health: Only YOU can make you better

Health anxiety: What it is & What you can do

What self care really is and how is can totally change your life

Goals tracker for someone living with depression

72 thoughts on “Are you worried about money in 2020? (Here are 7 things you can do ASAP)”

  1. Thanks for the free resource Jen! I’ve downloaded it and will put it to use. I find that writing things down really help. I recently started using a planner and I will insert your resource in it. Very timely and informative post.

  2. Thankfully my husband has an essential job even though that came with its own issues, but finances is the first thing I thought about others. Personally I lost money due to COVID and some people in my life made it seem like I wasn’t allowed to complain because my husband had his job. But it was frustrating because I want my own career even if others can’t see the value in it.

  3. Awesome article that you post and it’s very timely. Everybody, right now is worrying this stuff. Money is very essential in our everyday life especially this time that we definitely need it.

  4. We are on no work- no pay since the lockdown. I am not sure when will work resume. We are trying to budget all things from food and expenses. I never order food online, I cook, one thing that save us from overspending.

  5. I love the “cancel cancel” tip for negative thoughts. It’s so important to take charge of our story and change the narrative so our brain becomes more positive and less negative. This can be so hard for me. I’m such a worrier!

  6. I remember when my husband had to quit his job due to health issues, it was scary. I hope these tips will help people let go of the worry and find ways to save money and/or earn money.

  7. Iโ€™ve got so much financial anxiety that started before Covid-19 but has been exacerbated by it. Iโ€™m very fortunate to have a support network who wonโ€™t let my husband and I sink under itโ€™s strain but itโ€™s always there. This was a useful read – thanks for sharing!

  8. We’ve been on vacation for the last month and money is tight but we planned for that. We’ve worked hard to become almost debt-free but I’m worried it won’t last. Especially if we have to go through this again.

  9. Thanks for sharing so much helpful information! I really like the cancel cancel method and think it would be super helpful for me. I always have financial worries in the back of my mind and hope one day my blog can help me support my family financially!

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