How to Thrive in a Recession

A lot of people write about how to "survive" in a recession, as if once things turn around they will return to their previous life. It is evident to me, however, that we are not going to be returning to that way of life any time soon. So then, how does one thrive during the recession and come out on top? I have a few ideas...

Difficulty: Easy

Instructions

1. First, take stock of all of your assets. Make sure you know the value of everything substantial that you own. There is no bliss in being ignorant over how much you are worth. There is no way to gauge your situation unless you know this information. Knowledge is power, especially when it concerns your personal finances.

2. Evaluate your place in society. I left this open-ended because so many things can come into play. We all have a place in society, but is it where you want to be? If so, good; if not, well... Develop a plan of action. It is well-known that people who have power usually obtain that power through a plan of action. Develop yours, stick to it, and emerge from the recessionary morass stronger.

3. Lastly, don't cripple yourself with fear. The unknown is scary, but it is always bad to go into the unknown with irrational fear. Rather, realize that situations come both good and bad, and you must try your best to turn around the bad and exploit the good.

[hyneman]

on 8/16/2009 Good info and also give hope. Thanks!