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« Obligation a Cause of Procrastination | Main | 4 Hour Workweek Checklist »

The One Essential Resource For Surviving the Recession

It’s been amazing over these last few weeks how the world situation seems to have changed and fear taken over. I have no intention here of pontificating about the future. Like the vast majority of people, I have no idea what is going to happen.

In times of uncertainty like these in what can we trust? Can we trust our work? Probably not - a lot of jobs and businesses have already gone and more will follow. Can we trust our clients? No, they’re in the same position as we are. Can we trust the banks? I don’t have to answer that one! Can we trust our savings and pensions? They seem to be the things most at risk. Can we trust our politicians? There’s an old saying “No problem is so bad that government interference can’t make it worse.”

So is there anything we can trust? Yes, one thing. Ourselves. That is to say, our own ability to handle whatever life throws at us.

Well, we can trust it if we’ve got it. But what we have to realise is that the standard of self-management which is sufficient for the easy times is not going to be sufficient for the hard times. We can afford to waste time, be unfocused, drift along, be immersed in trivialities when there are easy pickings to be had. We can’t afford any of those things when the supplies start to dry up. When we deny reality, reality always comes back and hits us sooner or later.

I would suggest that time management and personal organisation - the subjects of this website - have now moved from being an optional extra to being a matter of survival. If you don’t have these skills already, you need them now. You may have got away with not having them in the past. You won’t get away with it over the coming months and years.

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Reader Comments (2)

Mark, I was wondering if you still follow a "dogs of..." investing strategy? It seems you've removed those blog postings or I would have commented on one of them (don't want to clog up your forum with investing topics!) If you do, did you use them during the downturn in the fall?
May 5, 2009 at 15:48 | Unregistered CommenterJacqueline

If I had I would have lost nearly every penny I have!

As it was I sold everything when it became obvious the market was about to collapse.
May 5, 2009 at 16:11 | Registered CommenterMark Forster

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