Recession Must-Dos: Reclaim your life!

Does the current market scenario mean the end of the world? No way!

Though you might believe otherwise from the news coverage and mass hysteria, the world is not coming to an end. The financial "crisis" will make it more difficult for those with not so perfect credit to get loans, but it really shouldn’t affect your day to day life.

What it should do is make you realise that this will impact only a tiny fraction of your existence and there are so many other areas of your life that you have complete control over. Why not work on them, and secure your future?

What's the worst that could happen?

Ask any economist, and the only response you will get is their opinion or theory. The markets are responding to the hysteria and the uncertainty of our past mistakes and future fears. Do not be swayed! Stay strong! Eventually when the government allows our markets to stabilise (by stabilising themselves) we will return to our bullish times. Until then, realise that this period will be over at some point. Just make sure that your house is in order.

Work On Yourself

Healthcare is all about self care! If you need to lose a few pounds (or gain them as the case may be) work on it. Do you know that diabetes is much, much less common in certain Asian countries? That has everything to do with diet and exercise. You can take control of what you put in your mouth -- and you most certainly don't need a doctor to tell you to keep your body moving and those calories burning.

Healthcare is all about self care! If you need to lose a few pounds (or gain them as the case may be) work on it. Do you know that diabetes is much, much less common in certain Asian countries? That has everything to do with diet and exercise. You can take control of what you put in your mouth -- and you most certainly don't need a doctor

to tell you to keep your body moving and those calories burning.

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If you have a case of self-doubt, work on that, too. Have you ever considered that the root of your problems -- whether that's a lack of social life, relationships that need help, or a job that doesn’t challenge you or pay well… starts in your own mind? Working with a life coach can teach you to fully engage, recognise what's lacking and realize what you need to do to turn things around.

Work On Your Relationships

When attempting to muddle through your daily existence, it’s easy to go day by day, week by week and not realise the relationships you are neglecting. Take this time to reflect on the family and friends who you have not connected with in a while. Have you ever heard those stories told by the old timers who made it through the Great Depression with the help of their families, friends and neighbors? Some didn’t always have much money, and none had the vast array of high tech amusements we have access to today. But they knew how to live for the moment and enjoy each other.

Your bonds with those that you love can help shield you from other unfortunate events. Taking your mind off of the here and now and focusing on those that you love and have always been there for you (and you for them) will help you through these difficult financial and emotional times. Reconnect with your sense of fun and simple pleasure… and invite your loved ones to join you!

Work On Your Finances

First off, make sure you know where you stand financially. Know where all of your savings are and please don’t freak out if you see the balance dropping on your 401K!

Next step, find out where your debts are… your mortgage, your home equity loan, car loans, credit cards, store credit cards etc. If you do not have a two month cushion in savings already, make sure to pay yourself first before paying off that Home Depot account.

With uncertainty, your best defense is a good offense! If you have that money socked away, make sure to pay off the highest interest cards first, followed by car loans. Leave mortgages and home equity lines of credit until last because you can write off the interest on these loans. If you’ve done all of this, good job! You are on track and can do one of two things: pay down your mortgage and home equity loan or take advantage of all the great "deals" out there as our markets slide to the bottom!

What We Do Know

"The world will not end today and I will not die today." Take comfort in this. The economy does not dictate your life. Instead, take this opportunity to fully engage in life, enjoy today and be more prepared for tomorrow. Improving you life can only be done by you. The face you put out to the world is probably not the face that you see each day. Only you know what can be improved and only you have the power to change. Instead of letting things that are out of control wreak havoc on your life, feel the achievement of improving YOUR life now!

This feature has been sourced from David B Bohl's SlowDownFast . David is a lifestyle mentor, educator and author. He prefers the simple life, relishing his role as a coach after frenzied years in the stock exchange and as an entrepreneur.