How To Weather The Coming COVID-19 Recession

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Photo by M. B. M. on Unsplash

Accept the Coming Recession

Step one is going to be to accept that a recession is almost guaranteed to happen now. Listening to the politicians during an election year or listening to CEOs desperately trying to appease their investors is not going to get you anywhere. Everyone is going to tell you that it is not going to happen until the numbers come out this summer in Q2, Q3, and Q4. Accept it now so you can start to prepare.

Suspend Your Disbelief

The best thing you can do for your mental health and anxiety is going to be to suspend your disbelief for the remainder of the year. 2020 is going to be wild, and the sooner you can accept that, the better. As coronavirus ravages the world right now, in quarter one, there is still so much coming up that is only going to exasperate the growing problem. That includes but is not limited to: a dubious Summer Olympics and a presidential election.

Control What You Can Control

During times of global crisis, there are very few things you, as an individual, can control. Identify those and start making plans for those facets of your life. Do you want to sell your stock or hold them? Am I washing my hands enough? Is it okay to cancel my cruise? These are all things you can control. There are going to be people trying to give you advice throughout this entire crisis, but there are certain concrete things you know you have power over in your life. Identify those and make a plan.

Let Everything Else Go

You can’t stop the stock market from collapsing. You can’t force Disney to reopen its theme parks. You can’t force your mom to stay indoors. There are a lot of forces that are going to be much larger than individual people. Try your best to let those go. It won’t be easy, and everyone else is going to be trying to control those very things that they cannot, but doing your best to stay above that fray is going to help immensely.

Make a Plan, Stick To It, Stick It Out

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Hobbyist historian | Political scientist | Story teller | Lover of animals | Freelancer | Always open for work ->

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