On weathering this economic uncertainty

A reader wrote to me the other day to ask if I would talk about weathering these uncertain economic times (tariffs, a tumultuous stock market, etc.)

I don’t have a magic answer to solve anxiety about this (if I did, I would be a lot richer), but I can tell you how I cope, and if it helps you, great!

Before we start, I want to recognize that I write all of this from a place of many privileges; I have never gone hungry, I have never been without a home, I have never been an immigrant, I’ve never been a racial minority, I do not have any serious physical disabilities, I am fortunate to even have money in the stock market to lose, and on and on. 

As a result, my perspectives in this post will probably be the most helpful if you also experience some of these privileges; I am writing through this lens because it is what I live and understand. 

I think it would be presumptuous of me to try to write from some other lens, but this is a limitation, and I hope you will read my post with this in mind.

1. I am not looking at any of my investments

I have zero interest in calculating how much my investment “value” has gone down.

Why?

Well, for starters, I can do absolutely nothing about it, so checking my balance isn’t useful. Rather, it is a recipe for sadness.

(Which is exactly how I feel about those apps that show how many people unfollow you on Instagram every day. Like, why would I want to know that? It’s unhelpful!)

Also, I do not plan to withdraw any of my money anytime soon, so the losses are theoretical at this point, just like my gains were. Losses and gains are only real when you sell.

Also, also (heh), knowing my investment balances does not change my strategy at all. My investment routine is to just keep chugging along with regular contributions regardless of whether the market is up or down.

So for me, ignorance is bliss.

If checking your balance every day is helping you in some way, carry on. But if it’s just making you miserable, might I gently suggest that you stop looking?

Join the Putting Our Heads in the Sand Club with me, ok? 😉

2. I focus on what I can actually control

You will recognize this as a running theme regarding how I deal with hard things!

I’m sure you remember that was my focus during my divorce, when so much was out of my control (including my bank account, which was teetering dangerously close to $0.)

I can’t control other people, I can’t control outcomes, but I can control the efforts I put out into the world.

I can:

• save my money
• cook at home
• pack my lunches
• buy secondhand
• reuse and mend things
• participate in a sharing economy (hello Buy Nothing groups!)
• help others who are suffering
• advocate for those who are suffering
• love my neighbors
• serve my patients well at work
• take good care of my body and mind

And all of those things will be better uses of my time than focusing on what is outside of my control.

3. I maintain hope that things will get better

I know some people poohoo this kind of outlook, but unfortunately (fortunately?), I seem to have been designed with an optimism gene from birth.

Whether it makes sense or not, I maintain a belief that hard times will not last forever, that the sun will come out after the rain.

While I see many, many disturbing things happening right now (and I will not say more for fear of opening a whole political can of worms), I am hopeful that even this is temporary.

4. I have some confidence in myself

In the comments on my post over on Elisabeth’s blog, as we were discussing optimism, I said that my optimism is not just a, “Things will all work out.” feeling, but more of an, “I know I will figure out ways to handle things.” kind of belief.

I have weathered some tough things before, some of which dragged on for a very, very long time. So, I know I can weather hard things in the future as well.

Sometimes when Lisey calls me to tell me about a problem or a hard decision she is facing, I say something to her like, “I know you will figure this out.”

I have oodles of confidence in Lisey’s ability to get out of a pinch or get through a hard time, and that’s because I know she’s done it before!

And I feel the same about myself. 

I am capable. I can pivot, I can adjust, I can adapt, I can survive. 

Whatever comes down the pike, I feel sure that I will figure out how to handle it.

What about you? How are you weathering these uncertain economic times?