Telling the truth, even when it’s scary, isn’t fear-mongering.
It’s essential.
It isn’t scarcity thinking to accept that the threat knocking on our door is real.
Here’s the truth.
People are scared.
3.3M have already filed for unemployment.
When things are uncertain, people spend less money.
Even the people with jobs will spend less money.
It will take time to officially declare the recession, but honestly, we’re likely already in one.
We will feel the effects ripple for months, even after the virus has cleared up.
That’s the truth. And yes, I know it’s not pleasant, but I never promised pleasant, I only promised honesty.
Time for more truth.
When things are uncertain, CASH IS QUEEN.
Pile it up, stash it away, just hold on to as much cash as possible.
Actual cash is great, but you can leave most of it in the bank.
I don’t see a total societal collapse on the horizon, just a bumpy road.
Cut unnecessary expenses, you can always sign up for that subscription again, it’s not going anywhere.
Postpone your debt repayment plan and any large purchases.
Why so gloom and doom, you ask?
Because the timeline for when all this ends is entirely up in the air right now. Are we talking weeks? Or months?
We don’t know yet, but we’re getting new info by the hour.
And when we feel this lost, we pause, take a breath and gather more information to help guide us. We wait.
I’ll leave you with a few more truths before I run to play teacher with my kids – wish me luck!
I’m optimistic about opportunity.
Even during uncertain times, opportunities are all around us.
Recessions always end, and they are usually short.
New businesses will be created and future empires will be born. (Google companies created in ’08 recession to see what I mean!)
Advancements in technology and medicine will improve life around the planet.
We’ll be different people at the end of this, in all the right ways.
Stay safe. Stay healthy. Stay home. ?