You have heard me speak of this before, the three main components to perfect health...physical wellness, chemical wellness, and emotional wellness.
The physical side to this triangle includes things like staying fit and injury free. The chemical side includes anything you put into or onto your body (food, vitamins, skin care, medications, environmental pollution, etc.). The emotional side includes anything to do with emotional, mental, or spiritual alignment. This is the side of the triangle that we will be diving into today.
Because our economy is the way it is right now, "emotions" are fluctuating greatly. Financial issues are a major emotional stress for everyone, but remember, these fluctuations are greatly affecting your health and the health of those around you. We tend to listen to the bad news about the economy and let our fears control our finances. In times like this, people end up selling their investments and stopping their expansion plans. We end up getting depressed and expect things will just get worse.
Well guess what, this is the time that smart people gain control and actually have an influx in their financial situation! These people buy property and stocks when no one else wants them. They happily expand their businesses while others are in fear. They take advantage of the opportunities of the "bad" economy.
Recessions happen all the time. Per the National Bureau of Economic Research, we have had 32 recessions since 1854. Subsequent periods of prosperity are three to 15 times longer than the contractions. So the question is: Will you hide and "ride it out", or will you use the slow economy to your long-term financial advantage? Here are a few opportunities to consider:
1. Buy a new home or office space to rent out or use. If you have been wanting to move to a bigger space or a newer home, now may be the time to negotiate. Better deals are often available during a slow economic phase.
2. Hire top talent for your business. Job ads get a bigger response than ever during a recession.
3. Remodel. Building contractors are eager to work right now and building supplies are also cheaper. Top contractors can build your new addition or modernize your structure at lower costs and greater speeds than ever.
4. Leave your stocks alone. If your portfolio is diversified and you do nothing, history shows you will end up a winner
5. Negotiate. Whatever it is that you want may have a softer price than you realize. Just asking if that’s the best price available may give you some incredible deals!
6. Disagree. There is no real reason for your income to drop. If you don’t agree with reasons for failure, you can turn bad times into your advantage.
Let’s refrain from depressing talk about gas prices, food prices and our failing economy. Concentrating on it doesn’t make it go away, and it can be detrimental to the emotional side of the complete wellness triangle. Let’s instead get ready for what inevitably will come next... PROSPERITY!