HOW TO SURVIVE THE ECONOMIC CRISIS HEAT.
By Lewis Madziire CONTRIBUTOR (Opinions expressed by YOH contributors are their own.)
When it rains, it rains everywhere. If the economy’s temperature gets high and its fever gets unbearable everyone, every part of it feels the heat. Banks, retail shops, the agricultural sector even the transport sector are hit hard. The loud jittery and cry is much loud and shakes the beds of those who hold the offices that drive the economy. The following are some tips that can help you survive the economic shocks.
Provide solution.
My mentor Pete Schuil told me that millionaires are made when there is crisis. Evidently, the FORBES magazine of April,27th 2020 reports that billionaire gets richer during Covid-19. Whenever there is a problem there is an opportunity waiting for someone to grab. As problems emerge they need solutions. Those who provide the solutions to the society are paid for their services and rescue they provide. These people escape the economic hard blows much easier and faster than the others. This is one of the simplest ways to survive the economic hardship. During this period where lives, finances are marred, ripped apart by the dread, hungry and vicious COVID-19, the providers of solution are surviving the tremor.
Preparedness.
“Therefore let him who desires peace get ready for war.”- Vegetius Renatus, Flavius.
Many motivational speakers and life coaches advocate that people stay alert and prepared for the uncertain future. It is like going into the jungle to hunt where you are hunting and fearing that you are a prey to predators as well. You need to be always ready to attack and defend yourself. Happy are those that had savings before the COVID-19, they are probably relaxed and using their savings to carry them through this painful era. Some of the ways to prepare oneself is to have multiple streams of income, have savings and mostly have good spending habits. Remember the story of famine in Egypt during the time of Joseph. They spent seven years of plenty food and good living. Surplus food and grains were stocked in preparation of the famine coming. You might be saying, ‘I am not a dreamer and I cannot predict tomorrow’. The fact that you cannot predict tomorrow is the reason why you must always set aside an emergency fund and a second plan to bail you out when you are in times of trying.
Get an Emotional Shield
One thing that destroys people, economy and nations is emotional instability. Once our emotions are not under control we suffer. Marketers are very good at playing with our emotions and feelings leading us to impulse buying or feeling like we are backwards for not having their products. If we are not disciplined, we fall prey and spend our hard earned monies on things we don’t need.
In times where the economy is hard patience, hope, discipline and not panicking are keys to the gate of bouncing back to a better position after the economy has burnt you down. These things that can add to your emotional shield. Patience will help you to stay on course hoping that the phase will pass. It will keep you strong. Discipline and non-panicking mode can take you through any turbulent like you are chick under its mother’s wings when the eagle attacks. Always have your hopes ignited for a better tomorrow that will give you power to wake up and hustle and hunt like hungry Great White Shark.
Reduce Costs of living.
This must be the initial step to take when the crisis knocks. Reducing costs of living must be done in and outside the crisis. It does not only help one to survive the economic hardships but helps save for the future and spending within one’s ability helping run away from menacing debts. A decent living does not kill and carries with it a lot of benefits. Some people say a decent living is a habit of wealth. All you need is to cut unnecessary spending, find where most of your cash outflows lie and reduce them. Get back to the basics make sure your basic needs are catered for.
Get more tips suiting your lifestyle, apply them and watch yourself get out of the economic hardships like a victorious veteran getting out of solitary prison into a celebration arena.
Lewis Madziire has been writing and speaking as a motivational speaker for over two years. He has vast acquired knowledge as a Finance graduate, life coach and fitness coach. This helps him attain his aim to help society create a balanced life-financially, socially and health-wise. His deputy book The anchor is a life-changing manual that you must grab. Lewis can be contacted via email [email protected]/ lewismadziire.wordpress.com
Lewis hail from Harare, Zimbabwe
#economy #crisis #covid-19 #
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