Tips for Keeping Your Wits

My name is Markus Hart

and this is my story.

I’ve studied depressions, recessions, stock market crashes and bank failures for many years, and what strikes me most is the predictability of recessions. Just as seasons come and go, so too does the average temperature of the planet and the ebb and flow of money.

What also surprises me is how many millionaires and even billionaires are made as a result of recessions: men and women of average means before the crash, become fabulously wealthy afterwards. What makes them so significantly more successful than individuals supposedly wealthy before a crash?

Mindset

They refuse to accept the doom and gloom constantly blasted at us by the media (who need sensationalist stories to sell their wares). They realize that (real) money doesn’t disappear - it simply changes hands. They keep their wits, while all around are panicking.

Here are three tips for keeping your wits during these insane times.

Recession Busting Tip 1: Maintain Perspective

What the economy is facing today is nothing to the financial crises we’ve weathered in the past. At the close of 1776, the year that saw the first battles of the American Revolution, George Washington was in Valley Forge, just after his lightning-quick victory over the Hessians at Trenton. The troops were mustered for roll call, and as David McCullough writes in 1776, these troops were cold, tired, weary, hungry, and ready to go home. Their enlistments were up. Washington rode up and down the line and urged them to sign up for another six months. He backed this offer with a $10 signing bonus. Still no one stepped forward; the prospect of another year of fighting was not something they welcomed. But without missing a beat, Washington “wheeled his horse around” and made another plea, this time reminding the men of the urgency of the times and the future of their families. This time men stepped forward. Congress approved the bonus money and Washington had his troops for at least the next six months.

The winter of 2008 is not the winter of 1776. Yes, the challenges of the day are daunting, but they always are. For those who look to lessons learned from the past, know that where there is a will, we can and will prevail.

Recession Busting Tip 2: Maintain Positivity

Often in times of stress, the mind is the first thing to weaken. It’s normal. Your food costs are higher, gas is through the roof, airline tickets are a small fortune; all the while you’re making less money and your spouse is out of work. How could you not go crazy? It’s called mental strength. No matter how stressed you are, it’s important that your mind is the last thing to weaken.

In times of economic pressure, strive to maintain a clear, strong mind. You will make better decisions, cultivate vision for the long-term, and sustain an upbeat attitude that positively affects those around you.

So many people right now feel stress, pressure, and struggle. Your state of mind will determine whether these trying times make you stronger… or weaker. As Victor Frankl said, “Everything can be taken from a man but one thing: the last of human freedoms - to choose one’s attitude in any given set of circumstances - to choose one’s own way.”

Recession Busting Tip 3: Maintain Presence

There are two types of happiness: internal and external; happiness by choice, or happiness as a result of external influences or stimuli. While we seldom acknowledge that we rely on external factors for our happiness, we kid ourselves by saying things like:

• “When I’m rich I’ll be happy”
• “When I’m thin I’ll be happy”
• “When I’m in a relationship I’ll be happy”
• “When my stocks rebound I’ll be happy”

There is a continuum or process of development from external to internal happiness, which goes something like this:

Materialistic - The first stage where we seek happiness through money and possessions.

People-centric - The stage where we seek happiness through relationships, circle of friends, recognition and status.

Independent - The first stage of internal happiness where we are no longer dependent on people or things to provide our happiness.

Interdependent - The highest stage of internal happiness where we not only recognize that people and things will never provide happiness, but we learn to form relationships for mutual gain.

Here’s an Idea

Let’s face it: we’re awash with negativity, and it’s only going to get worse. Wouldn’t it be nice to receive a daily reminder to help maintain perspective, positivity and presence? I know I’d like to receive a regular dose of sanity. So I went hunting, but couldn’t find anyone offering daily tips, suggestions and affirmations specifically designed to counteract the credit crisis noise. So I collected my all-time favourite inspiring sayings and quotes together, and I’d like to send them to whoever is interested. But I’m not sure if this would prove valuable.  Would you enjoy receiving a tip a day by email?  What sort of ideas would you like to receive?  What would make something like this stand out from the clutter I’m sure you currently receive in your Inbox?  What would you not enjoy reading about?  And what’s your biggest concern right now?

Please leave your thoughts, comments, suggestions and ideas below.  Your feedback will determine whether I go ahead with a service like this.  Thanks for your time.

Stay strong,

Markus

PS. Please feel free to share with your friends - the more ideas we get, the better the service will be.