5 Things you must know to survive a recession (Part 2 )
Mom in charge
Survive a recession
When it comes to the downward spiral of our economy, there’s a certain level of anxiety and the unknown. While we know we’re immersed in a recession, the good news is we’ll eventually come out of it. The bad news? We don’t know when the end is in sight so we’ll need survival tips to get us through.
Dr. Kit Yarrow, consumer psychologist and professor of business at Golden Gate University says there are several things you must know to survive and thrive during uncertain times.
Enjoy little splurges
“One latte a week can produce more joy than a daily latte if it’s savored,” says Dr. Yarrow. The secret to not feeling deprived is to be mindful and appreciative about the things you do buy. When you do spend money, enjoy it and don’t sabotage the experience by feeling guilty.
Thrifty is the new black
Considering everyone seems to be mindful of their pocketbooks, there will be less social pressure to spend and have the latest, shiniest fill in the blank here item. Dr. Yarrow explains, “For many, this will be a relief and take stress out of their life.” It’ll be cool to save a few bucks and be thrifty. “Simplicity feels psychologically better than excess.”
