Well-being in Economic Crisis

Plunging markets, high food and energy costs and an alarming increase in unemployment understandably cause stress and anxiety.  The World Health Organization has warned that the current global financial crisis may spark a rise in mental disorders and health problems as many turn to alcohol and drugs and otherwise neglect their health.   These may be gloomy times, but they present an opportunity to revisit the simple things that are most important and to focus on what can be done to alleviate hardship.

Redefine what is necessary.  So many things that were once viewed as luxuries have transformed into “necessities” over the years.  When I was young, second cars and even televisions were luxury items, never mind the hundred-plus channel cable packages for the multiple televisions many people own.  Few choose poverty, but it provides an enduring understanding of what is needed to survive and what matters most. Don’t panic.  Frank Farley, a professor of psychological studies at Temple University, says the four “C’s” can help people cope.  Stay calm.  “Don’t panic.  People who panic do very dangerous things in their lives,” Farley advises.  “Some amount of anxiety is healthy, because it motivates you to take action, but too much anxiety can interfere with your ability to think straight.  Be cautious and careful, and have confidence. We have gone through financial crises and recessions, and we have always come out of them.  Have confidence that we will again.” Scale down, wherever you can.  The best antidote for panic is a plan of action.  Sit down with the family and make a budget, distinguishing between what is essential and what is not.  Have family meetings regularly to measure progress in sticking to the budget.  We do not want to burden children, but it is fair to let them see that changes are necessary and why.  Eat out less.  Cut out or reduce expensive habits.  Find free entertainment – play board games or hike or bicycle on public trails.  Wearing your financial seatbelt can be gratifying as you take control of  the situation instead of falling into despair. Manage your stress instead of letting it manage you.  Now is not the time to fall back on harmful coping mechanisms – alcohol, drugs, overeating or isolating.  Exercise, get plenty of sleep and eat as healthily as possible. Keep a positive attitude.  Continue to enjoy your life and make plans for the future.  We have endured before in similar circumstances and we will again.  We must keep the focus on what we have to be thankful for and the things that bring us joy, regardless of finances. Share.  Giving of yourself brings riches back to you.  More than ever we need to help each other out.  There are always ways to lighten the burden of others.  Look around you.  Share a meal with a family who has experienced a job loss or  shovel snow for someone who is physically unable to do that chore.  Generosity tends to have a ripple effect, as recipients of kindness “pay it forward.” These tough economic times can lead to worry, anxiety and depression.  These are normal reactions, but do not have to be permanent if we take charge and make necessary changes.  If the worry and depression are significantly affecting your ability to function in your normal manner, please seek help.