When the economy is in a slump, it is time to be resourceful and devise your own coping strategies. And like many other things in life, it all starts with the right mindset. This is what you can do:
- Understand your fears. We often think of fears as facts. But unless you are in clear and imminent danger, fears are our emotional response to certain thoughts, usually about the future. Notice your fears, accept them and just let them be. They are like an overprotective grandmother, they mean well. Resisting or shying away from your fears will only make them stronger because your mind will be locked on the worst-case scenarios. Instead, spend time with your fears by examining the thoughts and beliefs behind them and their possible origin. Lean into you fears and let yourself fully experience the emotions they bring. Then, thank them for their warnings, smile, and move forward by doing what needs to be done.
- Learn from the past challenges. The English playwright and poet John Heywood said: “If you will call your troubles experiences, and remember that every experience develops some latent force within you, you will grow vigorous and happy, however adverse your circumstances may seem to be.” Remembering the adversities you overcame in the past can help you remain strong when you face new challenges. Think of the qualities and strategies that helped you deal with the difficulties in the past. We all have those reserves of resilience inside us that allow us to survive, adjust and thrive in a variety of situations.
- Practice gratitude. Don't slip into the “gloom and doom” mentality by reinforcing negatives. Instead, look for things that continue to work well and things you normally take for granted. Positive psychology research shows that gratitude techniques, such as gratitude journaling, boost well-being when done regularly. So, write about all the wonderful things that are happening in your life, send positive thoughts to people who love and care about you, and look for new ways to express your gratitude to others and spread joy around.
- Choose your words wisely. You may not be able to avoid hearing the word “recession” but you can decide not to repeat it. The words we choose color our perception of the world around us. When we use certain words, we activate the pathways in our brains that link everything that we associate with those words. For example, if you lost your job in a previous recession, the word is likely to stir up some anxieties about your current employment. If those negative thoughts cause you to behave differently at work, for example, by being more guarded or suspicious, you may start fulfilling your own prophecies. Don't let your language control your actions and reactions. Eliminate the words from your vocabulary that take power away from you and give it to some external sources, circumstances, or influences. The power is WITHIN you to be and achieve whatever you want. That power is always in motion and you need to direct and align it with your vision.
- Embrace uncertainty. It's our human nature to look for certainty and stability. We can go through familiar routines on the autopilot, but need more attention and energy to process new information. We are wired to resist change. The solution is to practice getting out of your comfort zone more often. Challenging times present more opportunities to stretch and grow.
- Take action. Choose a course of action and dive in. The key is to have a clear goal on which to direct your energy. Fear can paralyze, and that immobilization can accelerate your worst fears. Instead start moving towards a goal with an open mind to self-correct along the way. Albert Einstein said: “Life is like riding a bicycle. To keep your balance you must keep moving.”
