It’s Been Like A Working Vacation!
A few days ago I mentioned four ways people got through the Great Depression. Here are four more:
1) Elevate your morale
If you check out some of the updates on social media, many are finding cheap, resourceful ways to entertain themselves. Especially now that many Americans are heading into the winter and the real possibilities are popping up of some states shutting down all over again. So trying to figure out what to do if this happens is starting to get on everybody’s mind. Some people have been taking part in epic Monopoly throwdowns while other have been binge-watching some guy called the Tiger King.
Others are taking the opportunity to play music and sing to one another. In our neighborhood we’ve had a professional world recognized Saxophone player play songs for the entire community to listen to as they pass the house. His name is Edwin Sepulveda and he’s fantastic. This year has certainly made people think out of the box.
Keeping morale high no matter what’s happening in our world—with music, for example—is an integral part of living during trying economic times.
2) Grab those deals
Whether it was making your own clothes, growing your own food, or making your own home repairs, people found ways to cut down on spending during the Great Depression.
Back then, people recycled everything.
Deals are everywhere: from buying in bulk to websites like Groupon that offer daily deals. Be sure to scope out the deals that you can use—and do all you can to take advantage of them.
3) Diversify, pivot, and build
Businesses that worked well before the Depression—for example, a billiard table manufacturer—took a hit once disposable income took a hit. To compensate, the company turned to making toilet seats, and looked to increase billiard business by contacting a new client: The U.S. Commerce Department, who bought billiard tables for work camps.
Today many restaurants have pivoted with specialty take-out dinners. When old revenue streams dry up, don’t despair. Attempts can be made to diversify your business—by finding new clients, new products, or a new business altogether (while staying within your means).
4) Help when you can
Despite stories of petty crime and selfishness between neighbors, there are countless tales of communities banding together during tough times.
Alone, we may feel more resilient and independent. But there is strength in numbers, and sticking together—whether with family, friends, or neighbors—can help us get through the tough times, both financially and emotionally.
This is perhaps the most important lesson of all. If possible, try not to worry.
Things have been worse. They are continuing to get better and will continue to get better!
Our entire team at Group 10 Financial is stubbornly optimistic about your future and it’s always been our goal to provide solutions that can help financially protect you from the unpredictable.
Don’t forget, we have over 90+ Podcasts available for you to listen to. If you haven’t already, just go to this website and check it out. You just may binge listen to it like a lot of others have.
Just go to https://OnTheMoneyShow.com.
All the Best,
Nick and Jerry
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