How to survive a recession for 2022.
I’m not going to insult you…I”m sure your fully aware that the increasing amount of unemployment is adding crumbling pressure to families and individuals. It’s probably why your on this article talking about how to survive a recession.
This particular economic down turn has been even harder because we aren’t just facing a financial crisis. But also a health crisis too.
we all handle this kind of impact in different ways. I find myself into work in my online business because I actually enjoy it and it keeps my focus off the media, which seems to just deliver negativity after negativity.
Many people who lose employment, or whose business crumble under the pressure can feel completely defeated… like there is no possible way to dig ourselves out of this negative spiral.
It breaks my heart to know that through all this so many people will suffer from depression, alchohalism, domestic violence, and denial.
If this is you. Please seek help early on. Your health and safety is the most important thing.
If this isn’t you, it’s bound to be someone you know, please extend a hand and offer support to those around you. Community is so important and helping each other through this is going to make it infinitely easier for someone.
The truth about recessions and robots.
Did you know there’s actually a connection between recessions and robots?
This has happened time and time again throughout many different recessions.
When the economy tanks, companies must lay off employees in order to survive and instead work on skeleton staff.
Wages and salaries are one of the biggest expenses to a company in any industry.
Finding ways to automate jobs can massively improve cash flow and profitably putting their business in a more stable position should they be faced with another recession.
Its normally under the pressure of a recession that businesses are forced to be innovative and look for ways to automate work.
This can be a daunting fact to face.
But here are two things we all need when it comes to our jobs and employment in order to survive a recession and come out the other end as unscathed as possible.
1 Positive mind set.
Recessions are a natural cycle of our economy.
As hard as that is to swallow, at the moment with everything going on, it’s true.
It happens time after time and our economy and quality of life rebounds and in the long run, it actually improves.
As counter productive as this might seem, it actually brings me peace with the whole situation. Because knowledge is power.
Like any other recession in the past, we will get through this.
It wont be easy… But we will come out the other side stronger than before we went into it.
I also believe that we should take what we can from this recession… And I’m not referring to looting shops or selling off our furniture to cash up or capitalizing on the misfortune of others.
I’m referring to the lessons that we learn through times of crisis.
While companies are using this as a chance to innovate and cut costs. It’s actually our chance to truly reinvent ourselves and clarify around what it is we want and what we don’t want and whats really important to us.
Clearing the slate so to speak.
And that means continuing to invest in ourselves and our skill set.
Our skills and our self awareness is something that cannot be taken away from us, no matter the circumstances.
Its the exact reason why I’m such an advocate for the continuation of learning and why investing yourself in the best investment you can make.
Why we should always seek to be that little bit better today than we were yesterday.
2 A good budgeting system.
You might already have this in place, you might not.
Having a good budget will help you identify areas in your life where you are spending more money than you realize.
It also makes it easy to cut back expenses when you need to and really know what impact those cuts will have.
A budget should be able to help you not just pay your bills and pay off debt. It should also help you build an emergency fund and investment fund so you can survive should the unexpected happen.
In times like these, it can be hard to pull ourselves out of a dark place.
What seemed stable a month or two ago, is suddenly pulled out from under us.
There’s no doubt that our mind set has been getting a hammering lately. Shaking that scarcity mind set is not an easy task, but its so incredibly important.
Maybe you’ve been in the same career for many years – so being thrown into this recession is very much unknown.
How do we deal with this?
Adaptability is one skill that I truly admire.
I also believe its a skill that can help us really pull through this if we are willing to embrace it.
It might mean doing something that we are at first uncomfortable with… redefining our norm and pushing our boundries.
But lets face it… we are already being forced out of our comfort zone… we have no option but to face it.
Being more fluid in our actions and being adaptable to the situation means that we are much more likely to achieve and even possibly thrive.
It might mean we can instead choose to see this situation as a blessing in disquise – prompting us to embrace change and start creating a more fulfilling life,
What does adaptability mean?
I’ve seen pubs (taverns) turning themselves into grocery stores so that can serve the community in a different way.
I’ve seen businesses who are adapting to allow their staff to work from home to keep them employed and the business running (something that they had never attempted before.)
What I’m seeing through this (and I really am trying to focus on the positive posts on social media), is people really blossoming in the creativity and adaptability throughout the covid pandemic and financial crisis.
At the end of the day, we are all facing our own challenges through this time.
We still have to pay bills and mouths to feed.
Whether you’ve lost your source of income or not, its scary to stand up in the face of this.
The best way for how to survive a recession is to be creative and adaptable, to increase our own personal value and invest in ourselves and not focus on the loss or the past… we must keep moving forward.
A heartwarming example of adaptability after tragedy.
I truly believe that adaptability is such a key skill in figuring out how to survive a recession.
Today I saw a post on social media from a woman and her mate who were both laid off.
So they went and bought some princess costumes and offered their services doing one on one video calls with children… now, the’re all booked.
As a mom and a human being, this warmed my heart.
There will be so many young children that will be missing out on birthday parties or even just enjoying some time at the play ground, because of the current circumstances.
Out of tragedy and fear of losing their only source of income, they’ve created an opportunity and business doing something that they genuinely love and that provides genuine value to other people.
Everything is figure outable. We just need to trust in ourselves to keep pushing through.
What does adaptability look like to you?
Sure… maybe an online princess isn’t for you… and I get it (maybe you have a well maintained mustache that doesn’t go with your princess dress).
Adaptability doesn’t need to result in a complete change in either direction either. Simply learning new skills that make you more indespensable in the work place is going to give you greater potential for maintaining employment as the economy begins to rebuild itself.
There’s also the option of a side hustle. Having multiple streams of income helps reduce the risk of losing your job as you’ll still have income.
There are so many different ways to make money online or else where doing all sorts of things.
Web site like Fiver and up work are platforms that allow you to outsource your skills and your talents to people in need.
There are many many other ways to earn an income in alternative ways. Maybe you’ll be like the princesses I mentioned earlier and end up finding a whole new career path doing something you absolutely love.
So where do we go from here?
My goal from this article is to help you find more confidence, more peace and discover a clearer direction in a troubling time. Not everything I’m suggesting to you is going to fit… at the end of the day, we are all battling our own challenges and we all have our own unique skills and values.
Only you can decide how you’re going to ride out this recession. Only you can choose the direction you want to take in order to survive it.
This is a challenge for everyone. Please stay safe, remain open minded, and look for hope and positivity every single day.