SolveYourProblem Article Series: Money Stress
My Lack Of Cash Is Freakin' Me Out!

     

Will Thoughts Of A Future Economy Reduce Your Stress?

When it comes to the economy, you may feel like we’re destined to have problems for the rest of your lifetime. However, the truth is that the economy is a cycle. Right now, the global economy is in a downward pattern, but that doesn’t mean that it will remain so forever.

In fact, you don’t have to look to far back to see that the economy tends to rise and fall in a cyclical pattern. Probably the greatest time in history that this is reflected was the Great Depression that happened in the 1920s. While people were struggling and the stock market crashed, this wasn’t a permanent condition. And by the time World War II came in the 1940s, the economy was beginning to recover.

The same is true for the problems of today. While it may seem like we won’t recover from this crisis, the truth is that the economy is in a cycle. Things will get better and you’ll be able to improve your current situation.

Sometimes promises of a better future aren’t enough to cope with the stress of today. If you’re feeling downhearted and overwhelmed by the current economic conditions, you can seek help. Make a financial plan to protect you and your family from what’s happening right now.

And if you’re in the middle of a cycle of unemployment, major debt, or another type of economic crisis, you must deal with it head-on. If you don’t, your stress will only get bigger and your problems will increase. Remember that no matter how bad things seem right now, they will get better if you take control. If you’re not in the middle of a major crisis, now is the time to prepare so that you can prevent problems later.

Work to get out of debt and put more money into savings. Invest in ways that are safe and won’t be affected by large swings in the economy – especially if you’ll need to get money out of those investments in the near future. When you get out of debt, you improve the likelihood that you’ll be able to stay above water until the economy turns around.

And when the economy turns around – because it will – you need to continue to stay out of debt and live within your means. Sometimes an economic improvement motivates people to get back into debt. Remember not to repeat mistakes from the past so that you can continue to have wealth and not financial stress.

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