It’s hard to stay optimistic when bleak economic indicators keep pouring over us. Here are several tips gathered over the past year from economists and financial and job experts that may help.
• Cut your losses.
Whether it’s a house, car, boat, RV or other asset you can’t afford or no longer get value from, consider getting rid of it. We all want to hang on to things we paid a lot of money for. At some point, though, we just have to let go, enjoy being released from the burden, move on and learn a lesson.
• Park your ego.
If you are looking for work, consider taking something less that your ideal job until something better comes along. You may like it – and it may lead to a new career or at least help you see things differently.
• Don’t let fear hold you back from shopping.
That is what’s making the economy worse. Shop prudently and within your means and build up your savings. But allow some normalcy and take advantage of the great sales.
Also, show compassion for those who owe more than their homes are worth. Some were greedy, but most were just naive and unlucky.
• Be patient and open-minded.
This digitally and globally intertwined recession is unprecedented and serious.
Even the smartest minds disagree about what should be done because we’ve never been here before.
Leaders will make mistakes. The world is in shock, and there is a lot of anger and denial out there. It’s going to take months to figure this out, or as one reader pointed out, maybe years.