Comments on: How to Mentally Prepare for a Financial Crisis http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/ Sat, 13 Mar 2010 12:02:48 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Lou http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-7370 Lou Thu, 05 Feb 2009 04:34:01 +0000 http://thedailymind.com/?p=322#comment-7370 Very helpful advice. I especially relate to don't panic and don't talk finances with scared people. For myself so far, early in my day I like to do a casual regimen of positive thinking, affirmation, and just staying present to get me into a clear mindset. Talking to someone who is scared and panicky about financial matters can definitely be a challenge. It unnaturally forces me to reprogram the positive outlook I established earlier in the day. This is getting easier to deal with though, for if I have a negative encounter with someone I remind myself that to be panicky and scared is non-productive and makes me LESS able to help myself or others. Very helpful advice. I especially relate to don’t panic
and don’t talk finances with scared people. For myself so far, early in my day I like to do a casual regimen of positive thinking, affirmation, and just staying present to get me into a clear mindset. Talking to someone who is scared and panicky about financial matters can definitely be a challenge. It unnaturally forces me to reprogram the positive outlook I established earlier in the day. This is getting easier to deal with though, for if I have a negative encounter with someone I remind myself that to be panicky and scared is non-productive and makes me LESS able to help myself or others.

]]> By: IQ Matrix Blog » Blog Archive » Wealth Management: 20 Strategic Tactics & Tips | IQ Matrix http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-6554 IQ Matrix Blog » Blog Archive » Wealth Management: 20 Strategic Tactics & Tips | IQ Matrix Fri, 23 Jan 2009 08:59:21 +0000 http://thedailymind.com/?p=322#comment-6554 [...] How to Mentally Prepare for a Financial Crisis @ The Daily Mind [...] [...] How to Mentally Prepare for a Financial Crisis @ The Daily Mind [...]

]]> By: The Daily Minder http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3248 The Daily Minder Mon, 27 Oct 2008 01:02:18 +0000 http://thedailymind.com/?p=322#comment-3248 Not at all Mickey! I love reading them. Thank you! Not at all Mickey! I love reading them. Thank you!

]]> By: Mickey http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3165 Mickey Fri, 24 Oct 2008 16:21:16 +0000 http://thedailymind.com/?p=322#comment-3165 If irritation is a sign of stress than I suppose so. I don't get stressed more by it in the conventional sense. My day isn't worse by having seen the same clip aired over and over again. I'm more annoyed that enough people clearly are getting some false fulfillment out of watching the same thing over and over, that its reinforcing *paying* the networks to air it. Case in point, during 9/11 when the planes flew into the twin towers. I saw the same clip of the plane crashing into the towers probably a hundred times at least. Its all they showed, that and tearful people. They had nothing to offer of value, no "real" information, all they had was emotional "junk food" to keep people riveted to the tv. That annoys me. I also feel like it sensitizes people to the horror. If you watch something violent or negative, its been shown that it quits having an emotional effect on you. So the news desensitizes people to violence and strife, and people begin to accept it as a matter of course, and then apply it to their own realities. I know people that are terrified to walk outside at dusk because of what they see on the news. A killing in Sacramento scares people across the country, it makes the person feel like it happened in their own back yard. When in reality most of these people live in statistically improbable places for violent crime to happen to them. The ones that live in higher probability violent zones, see it so much they just have to move on with life. Its crazy man. That's what stresses me out, I really think the 24 hour news is driving the collective consciousness of our world into a much more negative state. All I can do is choose not to participate. My house has been unlocked literally for years, I don't even know where my house keys are right at this moment, I could find them if I had to but... Have I ever been robbed? Nope. May I some day be robbed? Yeah maybe, but would that person break in anyway regardless of my locked door? I think so. So I'd prefer to get in my home faster when its rainy outside than to fumble with my keys in the dark wasting probably hours of my life over the course of my existence, just on the off chance that I may lose a TV. Just a few weeks ago our news in my city started running talking points about a gas shortage due to one of the hurricanes. It was just in our town, but every radio station started repeating it, all the local news started airing it. Guess what happened? We were out of gas for a week! Why? Because people heard it all day that they had to rush out and top off all their tanks, literally causing 2 hour lines at the gas pump and draining every drop of fuel out of our city. Gas prices spiked, people got angry, but drive 30 minutes south and there was plenty of fuel. Lower fuel costs and no lines just 30 minutes away. There was no shortage, but people saw it on TV so it must be true, and the news created the new reality. That seems criminally irresponsible to me, yet I don't think the first thing was ever done to rectify that behavior. People as a collective are often little more intelligent than sheep. The bible had it right. Sorry, end of rant, you must all be tired of my posts by now :-) ~Mickey If irritation is a sign of stress than I suppose so. I don’t get stressed more by it in the conventional sense. My day isn’t worse by having seen the same clip aired over and over again. I’m more annoyed that enough people clearly are getting some false fulfillment out of watching the same thing over and over, that its reinforcing *paying* the networks to air it.

Case in point, during 9/11 when the planes flew into the twin towers. I saw the same clip of the plane crashing into the towers probably a hundred times at least. Its all they showed, that and tearful people. They had nothing to offer of value, no “real” information, all they had was emotional “junk food” to keep people riveted to the tv. That annoys me. I also feel like it sensitizes people to the horror. If you watch something violent or negative, its been shown that it quits having an emotional effect on you. So the news desensitizes people to violence and strife, and people begin to accept it as a matter of course, and then apply it to their own realities. I know people that are terrified to walk outside at dusk because of what they see on the news. A killing in Sacramento scares people across the country, it makes the person feel like it happened in their own back yard. When in reality most of these people live in statistically improbable places for violent crime to happen to them. The ones that live in higher probability violent zones, see it so much they just have to move on with life. Its crazy man. That’s what stresses me out, I really think the 24 hour news is driving the collective consciousness of our world into a much more negative state. All I can do is choose not to participate.

My house has been unlocked literally for years, I don’t even know where my house keys are right at this moment, I could find them if I had to but… Have I ever been robbed? Nope. May I some day be robbed? Yeah maybe, but would that person break in anyway regardless of my locked door? I think so. So I’d prefer to get in my home faster when its rainy outside than to fumble with my keys in the dark wasting probably hours of my life over the course of my existence, just on the off chance that I may lose a TV.

Just a few weeks ago our news in my city started running talking points about a gas shortage due to one of the hurricanes. It was just in our town, but every radio station started repeating it, all the local news started airing it. Guess what happened? We were out of gas for a week! Why? Because people heard it all day that they had to rush out and top off all their tanks, literally causing 2 hour lines at the gas pump and draining every drop of fuel out of our city. Gas prices spiked, people got angry, but drive 30 minutes south and there was plenty of fuel. Lower fuel costs and no lines just 30 minutes away. There was no shortage, but people saw it on TV so it must be true, and the news created the new reality. That seems criminally irresponsible to me, yet I don’t think the first thing was ever done to rectify that behavior. People as a collective are often little more intelligent than sheep. The bible had it right.

Sorry, end of rant, you must all be tired of my posts by now :-)

~Mickey

]]> By: The Daily Minder http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3161 The Daily Minder Fri, 24 Oct 2008 12:56:14 +0000 http://thedailymind.com/?p=322#comment-3161 Interesting Mickey. Do you think the news makes you more stressed? Interesting Mickey. Do you think the news makes you more stressed?

]]> By: Mickey http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3159 Mickey Fri, 24 Oct 2008 12:02:14 +0000 http://thedailymind.com/?p=322#comment-3159 Another vote against American news. John Stewart, or Stephen Colbert, one of them said that the problem now is that we're on a "24 hour news cycle" yet there is no more news than there was 20 years ago when people got all they needed at 6:00. So they're hyping everything to ridiculous extremes to sell ad space. What's worse is that you almost can't get away from it. It seems like every "mid-low range" eating establishment or hang out place has a TV in every corner, and they are almost always turned to some 24 hour news channel. Its crazy. I'm a NPR listener which is pretty much the same as PBS news, its public radio. I like it because I've never, not once, heard anything, not the first mention, of Paris Hilton's sex life, or Brittany Spears underwear. I swear should it ever be brought up, I'll swear off "news" all together :-) Even NPR I can only listen to for a little while before I just have to go to something more "inane". Too much information doesn't do me any good at all. ~Mickey Another vote against American news. John Stewart, or Stephen Colbert, one of them said that the problem now is that we’re on a “24 hour news cycle” yet there is no more news than there was 20 years ago when people got all they needed at 6:00. So they’re hyping everything to ridiculous extremes to sell ad space. What’s worse is that you almost can’t get away from it. It seems like every “mid-low range” eating establishment or hang out place has a TV in every corner, and they are almost always turned to some 24 hour news channel. Its crazy. I’m a NPR listener which is pretty much the same as PBS news, its public radio. I like it because I’ve never, not once, heard anything, not the first mention, of Paris Hilton’s sex life, or Brittany Spears underwear. I swear should it ever be brought up, I’ll swear off “news” all together :-) Even NPR I can only listen to for a little while before I just have to go to something more “inane”. Too much information doesn’t do me any good at all.

~Mickey

]]> By: The Daily Minder http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3139 The Daily Minder Thu, 23 Oct 2008 22:46:00 +0000 http://thedailymind.com/?p=322#comment-3139 Puerhan, I think you are probably right, it is so hard to tell whether news stations are presenting the unbiased facts these days. Unfortunately I think it is important that we watch the news because we need to know what is happening in the world. But, we should do what we can not to support channels like Fox News who are blatantly sensationalistic and biased. Thanks for commenting. TDM Puerhan,

I think you are probably right, it is so hard to tell whether news stations are presenting the unbiased facts these days. Unfortunately I think it is important that we watch the news because we need to know what is happening in the world. But, we should do what we can not to support channels like Fox News who are blatantly sensationalistic and biased.

Thanks for commenting.

TDM

]]> By: The Daily Minder http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3138 The Daily Minder Thu, 23 Oct 2008 22:43:54 +0000 http://thedailymind.com/?p=322#comment-3138 Hi Beth. I imagine checking your 401(k) balance all the time could be quite anxiety producing. I think it is a good idea not to do that! The fear certainly is fuel for the fire, and not just metaphorically. Much of the crisis is centered around people taking their money out of the stock market because they are afraid something bad is going to happen. Fear has made it much worse. TDM Hi Beth.

I imagine checking your 401(k) balance all the time could be quite anxiety producing. I think it is a good idea not to do that!

The fear certainly is fuel for the fire, and not just metaphorically. Much of the crisis is centered around people taking their money out of the stock market because they are afraid something bad is going to happen. Fear has made it much worse.

TDM

]]> By: Puerhan http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3130 Puerhan Thu, 23 Oct 2008 20:59:02 +0000 http://thedailymind.com/?p=322#comment-3130 I would say that while the BBC and other UK / European media outlets might seem less sensationalist in comparison, watching / listening to them still fills your mind with unhelpful content most of the time. Even if the news reports are apparently more factual, do we really need to know the facts they (selectively) broadcast? Do they truly have relevance to our life and our circumstances? Related to this and in terms of other useful pointers I recommend reading the excellent post by Bruce Muzik on his Designer Life Blog called <a href="http://www.designer-life.com/blog/?p=92" title="Credit Crunch? What Credit Crunch?" rel="nofollow"> All the best! I would say that while the BBC and other UK / European media outlets might seem less sensationalist in comparison, watching / listening to them still fills your mind with unhelpful content most of the time. Even if the news reports are apparently more factual, do we really need to know the facts they (selectively) broadcast? Do they truly have relevance to our life and our circumstances?

Related to this and in terms of other useful pointers I recommend reading the excellent post by Bruce Muzik on his Designer Life Blog called

All the best!

]]> By: Beth http://www.thedailymind.com/how-to/how-to-mentally-prepare-for-a-financial-crisis/comment-page-1/#comment-3126 Beth Thu, 23 Oct 2008 15:41:11 +0000 http://thedailymind.com/?p=322#comment-3126 Great post, thanks. I'm in the U.S. and you are absolutely right about the American news. I've made a point of not listening to the financial news and not checking my 401(k) balances. I have about 25 years until retirement, so I should be okay in the long run. The other points you made here are really good. It is important to learn as much as possible. I also liked the idea of not talking about the situation with people who are scared. It seems that this is all anyone is talking about these days and I wonder if we don't just fuel the fire with all this fear-based talk. Great post, thanks. I’m in the U.S. and you are absolutely right about the American news. I’ve made a point of not listening to the financial news and not checking my 401(k) balances. I have about 25 years until retirement, so I should be okay in the long run. The other points you made here are really good. It is important to learn as much as possible. I also liked the idea of not talking about the situation with people who are scared. It seems that this is all anyone is talking about these days and I wonder if we don’t just fuel the fire with all this fear-based talk.

]]>