Viable Strategies In the Process of Economic Transition

While the specifics of a tough season may come as different strokes for different folks, one common thread that runs through that fabric is discomfort.

Economic and psychological pressures have a direct correlation, and wisdom is required to stem the tide.
What do you do when the process is stalling, income is low, bills are high, and pressure is mounting? I’ll share a few defense mechanisms that can help you make it through the financial tsunami. I hope you find them helpful.

1. Reboot
When troubleshooting a sluggish system, one of the first recommended steps is to restart the computer. This closes all programs and restarts the operating system. In a reboot session, a computer shuts down, goes offline temporarily, takes care of some internal business, then comes back on.

You need to reboot. Withdraw from events and people that have a tendency to put undue pressure on you to spend money you don’t have. Aggressively close every undesirable program (door and window through which money leaks out).

I heard Dr. Myles Munroe say, “failure is an opportunity to more intelligently begin again.” When you restart, be willing to analyze your mistakes, and do things differently.

2. Restructure
You may need to adjust your modes of operation. Eliminate unnecessary luxuries and expenditure. When your finances are in dire straits, that’s not when you want to keep three cars in your driveway, or eat at your favorite downtown restaurant where you’re served by celebrity chefs.

You may need to use the public bus service, or ride the subway, instead of a taxi drop. Look for the options that save you money. To succeed here, you’ll have to swallow pride, and quit bothering about what those who know you will think.

3. Activate survival mode
Is it possible to move your private office to your house to avoid paying multiple rents? Depending on how deep in the woods your finances are, you may need to downsize on children’s schools, number of staff, vehicles, housing, as applicable.

Sometimes economic issues remain unmitigated because people want to impress their friends more than they want to be set free. By all means, do what it takes to stay afloat.

4. Don’t waste your bullets
Don’t spend your extra money on things you miss from your days of abundance. Save it and think about how to multiply it. Delay the urge for immediate gratification.

5. Think clearly
Let go of ideas you have used over and over without success. Seek financial education. The better we learn, the more we earn.

6. Adjust with a sense of vision
Seeing those temporary economic measures as medication for the situation, and not as a resignation to failure, will help your commitment.

7. Give yourself time
Haste will find a way to suck you back into that sour black hole that you are trying to escape from. Give yourself time to bounce back properly, and have your economy stabilized. After that you can then reward yourself with the needed upgrade.

May God’s grace come through for you!