In the face of unsettling financial headlines—such as the collapse of Silicon Valley Bank (SVB), and its potential ripple effects on banks worldwide—it is natural for individuals to feel anxious.
Add growing concerns surrounding inflation and interest rate hikes, and uncertainty becomes the prevailing sentiment. However, it is essential to remember that our minds possess immense power in shaping our reality, particularly during challenging times.
Officials urge the country to “remain calm” and not to make a run on the banks or to stop spending because that will make things worse. But how does one stay calm during uncertainty and turmoil?
Drenda Thomas Richards—a spiritual teacher, subconscious mind expert and published author—offers valuable guidance on how to maintain a sense of balance and focus during turbulent economic periods.
Drawing from her diverse experience across various industries, including ministry, law enforcement, and corporate America, Drenda shares insightful strategies for preserving peace of mind and staying optimistic.
Following are six top strategies that Richards uses to help her clients through uncertain times.
Limit exposure to mass media:
Richards reflects that inundating oneself with distressing news only serves to magnify fears and anxieties.
Instead, she suggests: turn off the TV, reduce social media scrolling and avoid excessive media consumption.
"Limiting your exposure to negative news is essential. Instead, focus on things within your control. What you focus on, grows. Make sure your attention is focused on empowering yourself instead of fear and dread." - Drenda Thomas Richards
By focusing on aspects of life that are within your control, you can foster a sense of agency.
Re-evaluate your career path while exercising wisdom in financial matters:
Richards advises, “Take the time to reflect on whether your current job aligns with your passions and aspirations. Consider switching to a more fulfilling career or starting a side hustle."
This move can not only generate additional income but also lay the groundwork for a potential transition to a new full-time endeavor in the future.
According to Zippia.com, in 2020 the US added 1.7 million new millionaires. If someone can become a millionaire during a pandemic where the entire world is shut down, it can happen any time, no matter the circumstances. The global number of millionaires is expected to reach 84 million by 2025.
Why not be one of them?
Cultivate an attitude of gratitude and new perspectives:
One of the quickest ways to change your focus and energy is to find something to be grateful for. It can be something as simple as appreciating the beauty of a rose or tulip. Gratitude is a simple yet powerful way to keep fear out of your thoughts.
Changing your focus changes your thoughts.
According to Richards, it’s key to recognize that despite the challenges you face, everything will eventually work out for the better.
What if you started believing that everything is working for your good? How would your life be different?
Acknowledge your true source of income and prosperity:
Richards says, “Understand the government, your job, your spouse, and your family are not your source of income. God/The Universe/Divine Mind or whatever higher wisdom you subscribe to is your source. Money can come to you from unexpected places. Believe that. Focus there.”
She advises opportunities for prosperity can come from unexpected sources and maintaining an open mindset can attract abundance in various forms.
At the same time, practice wisdom in your financial matters.
She adds, “Don’t be ridiculous and max out your credit cards because you think the Rapture is happening soon or the government will bail you out. Be wise.”
Conversely, hoarding, being stingy, and refusing to spend money out of fear repels any good that could come your way. Remember, you reap what you sow.
Another healthy habit is to develop a meditation and breathwork practice:
Cultivating resilience is key during uncertain and turbulent times.
In the face of potential recession or any challenging life situation, Richards emphasizes the importance of harnessing the power of your mind.
Through conscious effort, we can transform our mindset from one of fear and worry to one of strength, enabling us to thrive, even during times of financial turmoil.
Richards recommends incorporating meditation and breathwork into a daily routine—anywhere from 5 to 20 minutes—because it can yield numerous benefits, such as reduced stress and anxiety, improved sleep quality, and enhanced focus.
More importantly, these practices shift our awareness and allow us to release detrimental thoughts and mind chatter.
Embrace the power of community and take action:
When it comes to Richards’ expertise, she says one of the most important things that she recommends is getting socially involved with a community.
She explains, “Connecting with like-minded individuals who share similar values and goals can provide support and encouragement during difficult times.
By engaging with others who are also striving for personal growth and financial well-being, you can gain valuable insights, ideas, and inspiration—and not feel so alone on the journey.
As Drenda Thomas Richards has demonstrated through her work and teachings, our minds are our greatest assets.
She comments, “Don’t let your mind become a liability. Protect it. Use it to your advantage.”
As you adjust your mindset and cultivate a fresh outlook, it is crucial to take action on your goals and aspirations.
This includes exploring new opportunities, investing in your personal growth, and committing to making tangible progress in your personal and professional life.
By protecting and nurturing the mind, we can positively influence our lives and effectively navigate the uncertain financial landscape.
By adopting these six strategies and prioritizing mental well-being, individuals can not only survive but also thrive amid economic uncertainty.
Henry Ford perhaps said it best: “Whether you think you can or can’t, you’re right.”
Where are you putting your focus?
For more about Drenda Thomas Richards, visit www.drendathomasrichards.com.