This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Opinions expressed by Contractor the contributors are theirs.
You are reading Entrepreneur United States, an international Entrepreneur Media franchise.
Throughout life there are ups and downs of all kinds, in health, in personal relationships, at work, and the financial thing cannot be the exception, all areas of our life interact , improve or decrease between them, and to be in balance, you have to pay attention to everything.
In the event of financial ups and downs we need to be prepared for all kinds of situations, emergencies, layoffs, unforeseen expenses, investment or buying opportunities and that is why now we are going to see some of the actions we need to take. to have good financial resilience
How are you feeling financially today?
If you are doing well and have excess income, now is the time to think about expanding, creating new income, and saving. But, if you are anxious, scared, or in financial chaos, then it is time for order, planning, creativity, increasing useful information and an emergency financial plan. Stop the financial panic that exists in your mind!
Resilience refers to the ability to overcome critical moments and adapt after going through a difficult situation, and since the title of the article is âFinancial Resilienceâ, we will focus on how to get out of your financial chaos. .
Advice: Understand your economic environment, the economy of your city, your country, your continent and yes, also your family and social environment, remember that through empathy we end up reproducing our social circle.
Identify and eliminate harmful financial behavior
- Family financial models: Many of the financial conceptions and vices that we carry come from the family, so it is important to carefully analyze the positive or negative habits that we reproduce and to abandon or increase them as appropriate.
- Guilt: To think financially different from the rest of the people you love, when a person changes for the better it generates changes in those around them, being different will positively affect your environment, you will not stop belonging to the group, you will l ‘will improve.
- Comparison: It is inevitable to compare oneself with others, and to some extent healthy when checking out a company’s competition, or establishing role models or guardians that one admires when pursuing goals that one does. others have already achieved, however, know that there are so many paths as humans, period, learn to live your own life.
- Bad expectation: Thinking in advance that the path will be easy, quick, effortless and successful the first time around, as it rarely happens, and when it does, it is usually wasted because it was not forged correctly, so be prepared because it will help you. it will cost you.
- The feeling of scarcity: The continued scarcity of a certain resource reduces our cognitive ability, which prevents us from seeing options even when we have them before us and limits our possibilities in advance, so continuously, at least twice a year, you should do a self-analysis to see if you don’t act like you’re running out of a resource you now have.
advice : Understanding economic cycles (Boom-Recession-Depression-Recovery), you can do it in the article ” Crisis, recession or stagnation: what is happening and what to do? “
Strengthen your financial mindset
- The power of bankruptcy: Being financially bad does not mean being scarce, it only means that you have no money, but that you have many other resources such as time, intelligence, creativity, social circle, experience and a long etc., use them.
- Use statistics to your advantage: Whatever your goal, it is a mistake to bet everything on one dart, shoot as much as possible and understand that there are already winning ideas, take one of them, innovate on it and shoot it. the best part.
- Evaluate your social circle : Develop it, challenge yourself to live with people who surpass you in one or more areas, who will also make you flourish, surround yourself with creative and positive people.
- Align your lifestyle with your financial philosophy : Is your way of generating income aligned with your philosophy of life? Otherwise, you will always be dissatisfied with your life.
Create new sources of income by capitalizing on your gifts and talents
List 10 activities or hobbies that you would like to do and think about how you could earn some income from them, also think about the skills you need to develop to complete them.
- Create new habits
- Evaluate and select mentors who have the lifestyle you want and whose values ââmatch yours.
advice : Errors when creating new sources of income.
- Believe that we need a lot of money to start
- Believe that we are not ready to start.
You might be interested in: 10 Smart Consumption Habits You Can Build Into Your Day To Spend A LOT Less