The planet is going by means of a main economic turn-about. A new planet economy is emerging, and no a single has a clue what new economic models will evolve in this procedure. Thanks to coronavirus pandemic, an unprecedented transform is taking place about us. Everyone is asking yourself what is in retailer, and how we will survive this era.
But, there is great news. It is currently the starting of the finish. Once the vaccine reaches everybody, we all will be back in action. The planet will turn out to be additional hectic than ever. We all will be super busy, each in the physical planet and the digital planet. But, ahead of the great occasions commence, let us address a crucial challenge most of us are going by means of: How to handle the existing economic crisis.
Let us appear at Chanakya’s assistance on this. But, note that his tip will be valuable not only to handle the corona-associated economic crisis, but the economic complications that can emerge in the future also.
Chanakya says, “Be ever active in the management of the economy because the root of wealth is economic activity; inactivity brings material distress. Without an active policy, both current prosperity and future gains are destroyed.”
(Arthashastra 1.19.35,36 )
Kautilya, or Chanakya, is recognized as a single of the foremost economists of mankind. Nearly 2,400 years ago, he found the principles of how to deal with any economic matters. He is telling us to ‘be ever active’ in great or negative occasions. Do not be lazy. Because the activity is straight associated to financial development. If we are inactive our effectively-getting will be lost. And, due to inactivity, our present prosperity will vanish. Plus, our future gains will also be destroyed. Activity is the crucial to good results in the present and future as effectively.
1. Stop worrying, commence pondering: When a economic crisis hits us, our minds get blocked. We get mentally stuck. And rather of pondering about options for the existing economic crisis, we commence making additional complications inside our minds — ‘Oh, I lost my job… Now there will be no income! How will I pay my EMI or my other expenses… I will lose everything…I will be finished…’
Stop that flow of thoughts going in a damaging path. Now, rather of worrying, commence pondering about what can be carried out. Look at yet another job or supply of earnings, speak to some pals or appear at an option profession. Think, rather than reacting.
2. Financial calculations are a should: Since it is a economic matter, it is essential to commence functioning on the numbers. Start performing your economic calculations. Sit down with a cool head and list down your earnings and expenditures. If you are a family members individual, get your spouse involved in the discussion as effectively. Also appear at the savings you have, and how considerably time can you sustain with no any earnings.
Then make a sensible program primarily based on these numbers. Cut down unnecessary expenditures. Think what new or further activities can you do to get additional earnings. If doable, also assume of diversified earnings from several sources. Once you perform on your numbers, you have half won the game. You will really feel relaxed and beneath manage.
3. Get out get going: Now, pals, it is time get out and get going. Let not the worry issue make you inactive. Even the lockdown has opened out. Be cautious and take all precautions. Yet, it is time to be active. Lucky are these, who can sit and perform from property. Yet, the majority has to get out and get going. We need to have to commence some perform, otherwise there is a danger that you will be at property forever, and create mental overall health challenges.
Remember, what Chanakya stated, “Without an active policy, even current prosperity and future gains will be destroyed.”
That indicates, even if you have savings, and are financially effectively to do, commence functioning. Because the most significant danger is that with no activity, you can turn out to be lazy forever.
Whenever a economic crisis hits us, the 1st enemy is our thoughts. Win more than the thoughts, get into a good mindset and get going. Soon from a economic crisis, you will uncover economic good results.