Things Not to Worry About

There’s no denying these are tough economic times. Whether it’s corporate giants going belly up (and getting bailed out) on the news or your hard earned paycheck catching light at the gas station, financial woes – big and small – are omnipresent, and tough to escape. Savings are dwindling, home values depreciating and unemployment is rising – it’s no wonder we’re stressed.

But if your financial worries have gone beyond standard stresses and you find yourself feeling overwhelmed, anxious or even fearful that you’ll never get ahead – or out of debt – it’s time for a shift of perspective. That’s right, the key to surviving (and thriving) in the recession might be right under your nose… or at least behind it. In your brain, that is. Just stop stressing – and ride the wave of your financial status quo until the economy and your finances begin to pick up again. Simply changing your perspective on money to a simple, “It’s okay, I’m hanging in there…” can make all the difference.

License to chill
While the metaphysical reasons for a new point of view are obvious (you attract what you emit, etc.), there are some practical arguments, too. For starters, the economy is constantly changing. There have been recessions before and there will be again – there’s almost nothing you can do about it. Interest rates will rise and fall, stocks will do the same. So you may have to stay in your home for longer than you planned in order for the value to increase. Or, perhaps it’s time to get comfortable with the idea of sharing your place with a roommate. As for that savings you’ve watched dissipate over the last 12 months, be grateful that you had the money to access in the first place.

Naturally, it’s never a good idea to ignore your money – bills need to be reviewed in an organized fashion and tended to in the best way you can. But now is not the time to pour over every 401K statement or market shift. It may be difficult, but it’s time to simply keep the faith!

Find your balance
Conversely, if you’re the type who hasn’t been paying attention to your finances until now, maybe you want to have a look for the first time. After all, if there’s no place to go but up, that’s not necessarily a bad thing. In doing this, perhaps you’ll see that all the excesses of a few years ago weren’t worth it. And sure, this may inspire you to start saving. But at the same time if you can’t swing it, there’s no point in beating yourself up. You are so very, very far from alone!

If you’re among the multitudes having a hard time meeting minimum payments on bills, call your lenders and make alternate arrangements for the next few months. Most of them are willing to work with you.

The bottom line is while you want to be mindful about money, you don’t want to worry yourself into panic. If you find yourself falling to far to either side of the equation, do your best to achieve a balance.

Cheap is chic
Now all of this “get comfortable with your status quo” thinking does not mean it’s time to run out there and be irresponsible. What it does mean is that you can view being frugal, riding the market wave and saying no to unnecessary extras as ways of taking care of yourself rather than depriving yourself. With the economy in the state it’s in, cheap as chic has gone beyond being smart, it’s an actual trend. Instead of going shopping at the mall, why not go thrift shopping with friends. In times like these, it’s not cheap to cut back on your lifestyle, it’s chic.

The value within
On top of it, spending more time at home offers the opportunity to get connected to your true self and closer to the people you love. On that note, you’d be wise to use this time for appreciating the people in your life – starting with yourself. If you’ve been saying you want to meditate for years, then do it! Same for yoga or exercise or painting or antiquing (at second hand sales of course!). Now is the time to fulfill all of those desires you’ve always had but couldn’t find the time for because you were too busy working and spending your money (or running up your credit card debt). There’s an old saying that the best things in life are free… and it’s true. It costs nothing to deepen your self-understanding and the rewards, you will likely find, are limitless.

And when things improve, you may just find yourself enjoying the little things in life (and everyone arond you!) a whole lot more.