Exploding the Myths of Financial Health in a Recession Free Article
May 1st, 2009 | Categories: Financial PlanningThe hot topic on everyone’s mind right now is how to cope with the current recession. A lot of the analysts and talking heads are recommending that businesses and investors pull back, reduce their expenditures, create a budget and save their money.
This is the worst advice possible in recessionary times–or any other time, for that matter. When you reduce, budget, and save, you are effectively limiting your opportunities for success.
The fact is that more wealth is created during a recession or depression than any other time. Why? Because everything is on sale! Remember the old adage, “Buy low and sell high”? Well, now is the time to buy. Now is the time to invest. Now is the time to build your business bigger and more profitable. Stop listening to those who are, in fact, major contributors to this economic downturn.
Think about the natural result of developing, implementing and following through on a plan. Since the first step of any good plan is to set the goal you are trying to achieve, the natural result is to achieve the goal. At ProVision, we believe that the best alternative to cutting back and reducing expenditures (negative goals) is to strategically plan for your success. We have even developed courses and coaching to teach our clients how to do this.
The second step to a good strategy is to plan the celebration you are going to have when you reach your goal!
What a change in focus and energy! We change our entire world from a feeling of fear and despair to one of hope and possibility. And remember that whatever you focus on is what you will get.
So how do you create your strategy? Start by knowing where you are today. Do you know your current cash flow and net worth? Do you know the value of your business and investments? Do you have good financial records? If not, now is the time to get this part of your financial house in order.
It’s very simple to create a strategy once you have a clear picture of your goals and your present situation. It’s simply a matter of filling in the gap.
You can learn how to accomplish your goals through self-study courses, like our School of Wealth Strategy (www.provisionwealth.com/products) or you can work with a good strategic wealth coach. Whatever your preferred method of learning, understand that your financial education is the best investment you can make. Of course, you know that or you wouldn’t be investing your time in reading this article.
The biggest key to your success? Take action now! Stop listening to all of those naysayers and take advantage of this wonderful financial market. Now is the best time in 60 years to reach your dreams. This opportunity won’t come around again in our lifetime, so take advantage and start planning now to celebrate your success.


