When financial planner Catherine Scrivano and I recorded this episode of The Women’s Eye podcast, the tragic fires in and around the Los Angeles area had yet to decimate thousands of homes; displace residents; destroy thousands of lives and cause devastating financial fallout.
It is an unprecedented tragedy—one that will take years of recovery.
In this episode, Catherine offers tough-yet-positive advice and breaks down what is most important when dealing with the effects of various financial disasters that can happen to anyone, at any age, and at any income level. As we are witnessing, they can come at any time.
“Generally financial hardships in my definition are quite devastating. They really make a difference in the quality of your life and your relationships, and we must get out of denial. We have to know that it’s going to take some time. We also have to be prepared that we probably won’t come up with the exact perfect solution right out of the gate.”
—Catherine Scrivano, President CASCO Financial Group
Available also on Apple Music, Spotify and YouTube
Catherine is also a regular contributor to The Women’s Eye podcast for our Building Money Power series.
“I’ve been preaching the gospel of the ‘emergency fund’ my entire career,” Catherine says.
She says a study she discovered recently found that nearly 75% of Americans who invest have experienced a variety of financial setbacks of more than $25,000. Sometimes life just hands us significant hardships that we are not adequately prepared for.
“It’s all about how we react and go about picking up the pieces,” Catherine emphasizes.
Here are her five keys to recovering from financial fallout, which she discusses in detail throughout the interview:
- Don’t overreact
- Establish S.M.A.R.T. goals and priorities
- Modify spending
- Meet with a financial professional
- Take care of yourself
There may also be some fine-tuning you have to do, advises Catherine.
“We need to be a little bit pragmatic, a little bit strategic, and have some ideas about how you might be able to tackle this, as we do every other thing that comes in life.”
“Let’s just get through it and come out stronger on the other side.”
Hoping your financial setbacks become manageable and that you seek help if you need it. Our hearts go out to people in the Los Angeles area who are facing unimaginable devastation and upheaval in their lives. If you would like to know how to help victims of these fires, click here.
Join us for practical financial advice from Catherine Scrivano on this episode of The Women’s Eye podcast.
Check out Catherine’s Building Money Power podcasts here.
Catherine says,
“You don’t have to be wealthy to be wise.”
For more information about Catherine Scrivano:
Website: www.cascofinancial.com
LinkedIn: Catherine Scrivano
Facebook: Casco Financial Group
Twitter/X: CASCO Financial
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