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10 Lessons Learned During A Weak Economy

Written by: Alvah Parker

Article Overview: Quiet times allow us the time to grow and to be creative. A lull in the economy provides the opportunity to regroup and rethink plans. Farmers allow a field to lay fallow for a year before planting again. The soil produces more after the rest. New ideas often come when a person is not so busy.

10 Lessons Learned During A Weak Economy

Quiet times allow us the time to grow and to be creative. A lull in the economy provides the opportunity to regroup and rethink plans. Farmers allow a field to lay fallow for a year before planting again. The soil produces more after the rest. New ideas often come when a person is not so busy.

1. Good friends are priceless when things are tough. They often can provide the emotional support needed to stay focused.

2. Keeping a list of contacts with whom a person networks gives one confidence that the resources will be there if it is necessary to find a new job.

3. Tolerance for risk is really challenged in a slow economy. It’s important to remember the feeling when the economy starts growing again!

4. One can learn to live on less by getting serious about cutting expenses.

5. It is important that not to overload a portfolio with stock from the company one works for. Always use asset allocation to make a balanced portfolio.


6. Profits may be less in good times but losses won't be so big in bad.

7. Getting additional training is a person's own responsibility not his/her employers. Keeping skills up to date increases a person's marketability.

8. It is important to pay off credit card balances when the economy is good so there will be no debt to pay off when things get tight.

9. Make friends both inside and outside of work. Losing a job is difficult enough but losing daily contact with friends too can be devastating.

10. No one is an employee for life. All jobs are temporary.

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Article Tags: bad economy, credit card balances, employee for life, quiet times



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