The current economic downturn is dragging more and more people into a state of financial panic. Some have lost their jobs, others their businesses. Especially in a fast changing environment of a big city, one should know how to keep his fortunes under control. Here are a few recession survival rules to follow:
Acknowledge and Evaluate
Do not be in denial. You have to acknowledge the situation and be willing to evaluate it. This isn’t just, like, a rough time and you might be already into survival mode without acknowledging it. When you have got a few coins in a pocket of a family of four, you are shifted into survival mode, and you need to evaluate what the real deal is.
The number one priority for a family is to keep the family unit together. Financial stress can wreak havoc on a marriage. Do not let the current economic downturn deteriorate your marriage and family.
Action Toward Number One Priority
Take action toward your priority. Stop blaming your partner and fighting with your spouse. You got into this mess together; you can get out of this mess together. Maintain your relationship so you have the strength of a family unit to keep moving forward.
Stay Focused of the Truth
Deal with the truth of the situation. This is math, not magic. If you don’t have the money, you need to deal with the reality of that. There is no room for denial. In the past, you may have been able to spend money on designer clothes, birthday parties and little league dues, but the reality is you cannot afford that anymore. Even the cinema tickets are expensive.
This problem can either be a wedge that’s driven between you, or it can be glue that pulls you together. You don’t want to turn on each other when you need each other the most, and that would be the real, real tragedy here. This is a teachable moment for your children right now.”
Keep in mind, there is no room for these: denial, ego, pride, emotion, venting or blaming and off-task action.