How to Emotionally Handle an Economic Crisis

In life there are ups and downs. This applies to both personal affairs as well as the global economy.

Before an economic crisis happens, it is important to find a strategy to keep afloat and at the same time allowing you to find opportunities to exit the downturn better than when it started.

So no matter if it is a personal crisis or the next global economic depression, here are 4 tips that can help you.

1. Focus more on increasing your income and reduce your expenses

Reducing your expenses is great, but it could be limited if you are uncertain of what things you’d want to give up. While increasing your income has virtually no limit.

Looking for ways to pay less for the things you need is fine. But there comes a time when more effort may be required to reduce your expenses without drastically changing the way you live.

Redirect your energy and resources on increasing your income. It’s easier if you can find work that you enjoy or start a side-business that requires little to no investment.

2. Accept responsibility for the situation

Mind you, I’m not saying that it’s necessarily your fault. But the only person who is responsible for getting ahead is yourself.

Graciously accept all the help you get, but do not rely on others. Do not expect the government, your friends, your boss or anyone else to take responsibility for you.

“As soon as you trust yourself, you will know how to live.”
-Johann Wolfgang von Goethe

3. Eat a Healthy Diet

Eating healthy foods may be a simple way to boost your spirits and can very well have a positive impact on your mood.

Medical researchers are studying the connection between nutritional choices and the effects on mood and mental health. According to Sherry L. Pagoto, PHD, professor at University of Massachusetts Medical School, “The link between emotions and eating is no myth.”

4. Do not to watch the news

If you are a regular consumer of news you’ve probably heard recently of something to worry about regarding the current economic situation, politics, disease or violence. The media is good about reporting bad-news; because it makes money. Very seldom do we see positive stories on the news.

The interesting thing about this is that when bad news happens, it spreads faster than good news.

News awareness won’t make you happier. In fact, today’s news channels are infinite sources of negativity. All this negativity can damage your emotional well-being and health.

Don’t worry about missing important news. We live in the information age and it highly likely that you’ll hear of news that is of concern.

Unplug from your electronic devices and spend time with family and friends. Or simply do something that makes you feel good.