Surviving the Recession

During this time of turbulence, average people are bombarded with an avalanche of information. Being able to separate what is fact from opinion is becoming harder every day. It is my hope thatthis guide will help to put some perspective on the information overload.

Every day when you wake up and turn on the television, there is a new barrage of data hittingyouand the coffee has not even finished brewing. The news anchor starts talking about theStockmarket performance, job loss numbers, retailers closing and it goes on and on. Many peoplehavebecome unemployed or for the ones who are still working it is like walking on egg shellswaitingfor the pink slip.

Every day when you wake up and turn on the television, there is a new barrage of data hittingyouand the coffee has not even finished brewing. The news anchor starts talking about theStockmarket performance, job loss numbers, retailers closing and it goes on and on. Many peoplehavebecome unemployed or for the ones who are still working it is like walking on egg shellswaitingfor the pink slip.

As in any hard time, it would be much easier if there was someone to blame but who is at faultforthis recession? Is it the bankers for giving out risky mortgages, wall street for greedilybundlingand selling mortgages worldwide or as some say is it the regulators for not doing theirjob?Without a clear enemy, who do we come together and fight? 

Many people are feeling scared, not because they lost their retirement, had homes foreclosedorlost their jobs but because they feel alone. Government cannot fix the problem, businesshaveabandoned them so who do they turn to for help? That is the crust of everyone’s worrybecausewe can overcome the financial melt down but not alone. 

Add on top of this how the news is constantly telling us that the Federal Government isspendingtoo much and the nation will be broke soon. The bail out of many banks and autocompanies andnow California is insolvent. Where will it end?

What is the solution? There is no one solution to surviving this recession but a series ofsmallsteps need to be taken. Here are some ways to keep anxiety down:

1. Pay attention only to the news which pertains to your daily life. It is easy to becomeworriedthat GM will go bankrupt but that is not going to affect your family this week so skip thatsegmentof the news. 
2. Put your time to productive use. If you have lost your job, no doubt much time is spentjobhunting. Unfortunately, that can burn you out so take a few hours out and researchbusinessesyou can start or ways of earning money on your own. This will bring a sense ofempowerment andcontrol.
3. Know that you did not start this recession and millions of other people are in the verysamesituation that you are. The recession will end so spend your time getting ready to capitalizewhenit does.

One very good exercise is to make a skills inventory. This is a great time to sit down andlisteverything you can do and that will allow you to make a strategic plan. Speaking of exercise,usethis time to get physically fit. Since it is known that a fit body helps keep a fit mind this willhelpgetting through this time. 

It is often said that during times of financial trouble is the best time to go it alone and startyourown business. Whether this is true depends on the type of person you are. For those whohavenothing to lose, skills which can be profitable or are tired of corporate america, this can be atimeto reinvent how you collect a paycheck. 

This is also a good time to re-evaluate how you view wealth and what priorities will be carriedwithyou when this recession ends. Are the changes temporary or will they become part of yourlife? 

Times are tough but by taking steps to keep your anxiety low, formulate a plan and beproactivewith opportunities this can be the best economy we were ever in.