Learning from Lincoln: Overcoming Financial Stress in the Pandemic

financial stress concept

If there’s the best time to press the panic button, these days must be it. Quite frankly, the misery experienced by Americans when the virus came is unprecedented. With the death toll climbing to half-million as per the latest count, everyone is on their toes — many wrapped in fear.

It’s true. Never has there been a time when so much of everyday life is affected. In effect, this pandemic is wreaking havoc on the economy. Worse, it can be giving you undue financial stress right now. Take note that mental health is key. If you fail to deal with it right, not only will you go down the rabbit hole of depression and extreme anxiety, but you will also slowly lose your innate capacity to earn a living. In short, you diminish your financial standing.

However, fret not. Financial stress is not an invincible enemy; it can be handled. Putting things into perspective should bid you well. Check out expert take on the topic to get you started. Most importantly, learn from Lincoln.

Deal with Your Feelings

We’re not invincible. We’re only human. Even during primeval times, people fear for their lives. They either fight or flee when confronted with danger, such as a saber-toothed tiger. Today, we still have that knee-jerk reaction. As you experience financial instability, it’s normal for your brain to trigger those age-old instincts. You feel tense, and your pulse quickens. Plus, you seem out of breath.

Right from the get-go, don’t panic. Instead, take time to take a step back and get your bearings. If you feel panicky, do some deep breathing. Better yet, do yoga. The important thing is you come to terms with how you feel.

Express Your Grief

When you take a hit, you lost your job or lost a business. You will feel the pain of the loss and must grieve. It’s a natural process.

However, know that grief is not forever. It’s a process. Pundits liken it to a crest of waves crashing to the shore. Soon, it will subside. What’s important is you ride it out.

The key to handling grief is to be gentle to yourself. Take good care of your body. When you’re feeling the pain, it’s the time your body would need you most. Take time to rest now and then and treat yourself to a hearty meal. When you take care of yourself, you have greater chances of coming out of your grief whole.

Keep Things in Perspective

woman working remotely

It’s not unusual for anyone to blame himself in times of financial distress. You can have a long list of reasons why you could have done better. But you should keep in mind that we are all in the same boat these days. Many of the things happening are beyond your control.

And if you lost your job and are jobless, remember that staffing is adversely affected by the diminishing returns of business due to the pandemic.

Additionally, business closures have followed one after the other. With consumer consumption down, operating a business is truly an uphill climb. And that’s because COVID-19 is making things harder for all of us.

Take note, however, that there are ways you can start anew. For one, more and more businesses and jobs have sprouted online. You can call the internet a lifesaver for millions of Americans. Not only has online learning saved America’s kids from boredom, but it has also provided a timely way for kids to learn.

What’s more, online marketing will allow you to grow and advertise a business right from home. Meaning: You can start from scratch. You can maximize on the most sought-after search engines (Google) and social media apps online at a minimal cost. And not lose a single cent on TV ads.

Additionally, there are tons of opportunities waiting for those who want are going through tough financial times.

Reach Out and Learn from Lincoln

Abraham Lincoln said it best: “To ease another heartache is to forget one’s own.” And America’s favorite president is right.

In this regard, you should seek a community to help you ease your heartache. In doing so, you might also extend help to others in similarly difficult situations.

That’s why taking time to connect with your loved ones and circle of friends should bid you well. Taking time to help people who are also struggling via video chat or calls can go a long way to help you recover.

Take note that you are never alone. There are crisis management teams that you can call should you need immediate attention. Or someone to talk to. When you realize that you can do something about it and is not totally helpless, better finances should follow.

Take a page from Lincoln. He should know. He’s been through the roughest of times. His losses were unthinkable, and yet he succeeded eventually.

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