You Can Live Wealthy in Any Economy
Whenever I get plagued with an attack of ‘I don’t have enough’ or ‘Life’s not treating me well’, I fall back on a few simple wealth building tools. We talk a lot about building wealth and how to live wealthy here, but it’s important to remember that life’s a marathon, not a sprint. Further, you can live wealthy regardless of the size of your bank account.
How to Live Wealthy in Any Economy
1. The News is for Entertainment and Sensationalism
Don’t even think about the news, or the dour talking heads on your TV. You are the master of your own destiny. Life and success transcend money. Whatever your current circumstances, you have ultimate control over your greatest resources; your time and your mind.
The same goes for getting wrapped up in social media. The worst thing you can do is spend too much time comparing yourself to others and how they are doing. Set a time limit for social media-and stick to it.
“It does not matter how slowly you go, as long as you do not stop.” Confucius
2. Spend a few minutes with that gratitude journal and write down the gifts you already have in your life.
Don’t sigh, I know this is quite “Oprahish”. This strategy is a sure fire mood booster. You are already living better right now than royalty of the 1800’s. The luxuries of microwave ovens, computers, cell phones, indoor plumbing, electricity, video on demand, and more make our lives spectacular.
3. If you have friends, you already live wealthy.
For wonderful fun in a down economy, gather a group together for a cheap and fun filled gathering. We love potlucks with games both indoors and on the field. Try some touch football, soccer, charades, Taboo, or Wii tournaments. In winter, sledding or building a snow man or woman are free! Low cost, high energy fun. Plus, record the event and make a memory that will last.
4. When cash is low… travel.
Take a bus or train to a neighboring town and visit the free parks and museums. Pack a picnic lunch and feel like you are a million miles away. Last week end we traveled to a nearby city and wandered through the streets and city parks. It felt like we were in another world and we came home refreshed and invigorated, all for the cost of a train ticket. More proof that you can live wealthy on small change.
5. Finally, prepare yourself a gourmet cup of tea or coffee at home.
Sit by the fire or the heater, curl up with a good book and indulge in a break. Allow yourself to recharge and reinvigorate yourself by carving out some personal time.
What Goes Around Comes Around
Economic conditions are cyclical. Great economies are followed by downtrends, and ultimately things get better. This article was originally written during a recession, and now it’s being updated during a sunny economy. Proof that no scenario is stagnant. Within a span of five years, the country went from high unemployment and falling home prices in 2010 to a rebounding housing market and normal employment levels in 2015. Life and the economy are always changing. We’ve found it a challenge to enjoy ourselves during a down economy. And these simple strategies work just as well on a down day, in a good economy.
Barb Across the Web
- Moolanomy highlighted three of my articles in his posts; How to Communicate with the IRS, Alternatives to Investing in Low Yield CDs, and Haggling to Get a Better Price.
A version of this article was previously published and submitted to: KissMyAssets Contest by Bankrate.com
How do you cope in a down economy?