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Maintaining Well-being and Dealing with Economic Uncertainty during a Pandemic

The pandemic is taking its toll on you and me. No one is left out of the impacts of the pandemic economically. Owing to the time spent serving at the parliament in Antigua and Barbuda, I can evaluate how well everyone is coping. Now, I’m not saying I have a perfect idea, but I wouldn’t […]

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Asot Michael on Wellbeing in Pandemic

The pandemic is taking its toll on you and me. No one is left out of the impacts of the pandemic economically. Owing to the time spent serving at the parliament in Antigua and Barbuda, I can evaluate how well everyone is coping. Now, I’m not saying I have a perfect idea, but I wouldn’t be entirely wrong to pass accurate comments on the state of the people and the nation. A lot is happening simultaneously, and it could be harder on those (or your loved ones) who already have the virus. First, it puts you out of shape mentally, and then it impacts you significantly economically.

What does it mean to maintain your well-being? It means to remain in a state of mind and health that puts you at an advantage during the pandemic. Frequently, well-being has been addressed as just physical health. So, people assume their ability to move around or wake up as a state of perfect well-being. Unfortunately, your well-being encompasses your emotional health, physical health, mental health, and more. I want to bring to your attention that you can be okay physically but have mental and emotional problems. 

Your well-being caters to the absence of mental and emotional health problems. These are small variables that are not so evident, but the negative cumulative effect can be visible as time passes. The news of infected people around you, or infected relatives, and economic uncertainty can become burdensome. It can make your mind lose focus of reality and immerse itself in oblivion and worries. What’s worth your concern is, you may not see it take its toll on you. At all costs, you must look beyond your physical health during the pandemic to check your emotional and mental stability.

There’s a strong correlation between our well-being and our finances. Statistics confirm that 46% of people in debt also have mental health problems. Let’s ditch statistics and examine things logically, okay? Is there anything you can do presently without needing money in our society? I’m sure we would both agree that there are few things. In the heat of a pandemic, you’d need money to sustain yourself and your family. The absence of money to cater to your daily needs and nutrition would impact your mental health significantly. You’d be worried about how to make ends meet and stabilize from the constant financial fluctuations.

Research and study account for an increased rate of decline in mental health since the pandemic hit us. Out of 10,000 respondents who have been directly affected by the pandemic, half of them are struggling with mental health issues. Stress, trauma, post-traumatic stress disorder, and anxiety have successfully thrived since the pandemic began. If the pandemic has this much influence on our mental health, what would be the cumulative effects of economic uncertainty and the pandemic? We can always expect worse. This is how it works in these trying times; many businesses reduce their adventure for taking risks during economic uncertainty. The cash flow is cut short; there’s less outflow of money because everyone is uncertain about the economic trend.

The government is trying to conserve more money than they spend, and so are businesses. Everyone is also trying to generate revenue, but not spend; instead, revenue is generated to stack up during economic uncertainty. In reality, everyone perceives economic uncertainty as a bad omen more than one with hopefully positive results. This means the odds of finding so many ventures that would reward you handsomely are few. Also, in the face of economic situations like the pandemic, companies, and governments are trying to cut down costs. News has it that some firms have slashed the salary of staff members by half. Employee wellness statistics of 2019 accounts for the fact that 50% of employees spend more than they earn. This means slashing their salary by half is already impacting them in significant ways. No doubt, people’s mental health and well-being are affected in this period of economic uncertainty. The bigger puzzle is how you can maintain your well-being in this economic uncertainty?

First, you must accept that the whole world and everyone is affected at the moment by the pandemic. It’s okay to be negatively impacted by the pandemic, accept the situation, and work at sustaining your mental health integrity. The government is helping you and thousands of people to go through this phase with fewer pains. First, you need to secure your well-being by first having a stronghold of your finances. Cut down on your expensive spending, and restrategize on the most effective way to go about your expenditures during the pandemic. The evidence of your restructuring is that you’re saving more money and cutting down unnecessary costs significantly. Even the government is cutting down on costs, why shouldn’t you?

As much as entrepreneurs are trying to cut costs and not take risks. Entrepreneurs must realize that they have a calling to uphold and strengthen the nation. There’s a lot of bureaucracy that comes with governmental decisions, and no one can outrightly push his opinion on others. The case is different with entrepreneurs; they have the guts and outright authority to make things happen. They can find new grounds or existing ventures that can save us from an impending recession during or after the pandemic. 

More than ever before, we need entrepreneurs to rise up to the task of nation-building. We need them to make sure there’s economic certainty for us after the pandemic passes. Also, I’d advise business people to focus on their strengths during the pandemic. Why have people stuck with your business so far? Never undermine those standards and quality because of a pandemic. We do not need another business shutting down during the pandemic. Everyone is better off with your business striving and surviving the storm.

To sustain your well-being, you must also realize that worrying doesn’t make anything better. Worrying would do a number of things for you; it would put you at risk of depression and high blood pressure. Nothing good comes with worrying. Quit worrying, and you’d be in better shape to tackle each challenge you encounter during the pandemic. To deal with anxiety, you must build your schedule around things that make you happy. Focus on doing exercise and partaking in fun things would reduce your worry. Also, look out for the help government, non-governmental organizations, and individuals are providing to help people during the pandemic. Surf the net, and ask local resource centers for relevant information.

Many people are working from home. They are lucky not to be amongst the several people who were kicked out of their jobs in the heat of the pandemic. A lot comes with working from home, but we all need you to be stronger to keep the country’s cash flow in place. The only way to go about this is to separate or demarcate an office space and smash your goals. It would help if you had a way of being productive despite working from home. America needs business operations to run virtually still, so revenue is continuously generated. It would be impossible to achieve this if you do not get a hold of your part in the equation. While you make the operations run smoothly, you’re helping thousands of people find their footing in economic uncertainty.

As insignificant as it seems, we all feature in the bigger picture of what would become of the pandemic. A big part of maintaining our well-being is to stay clear of people infected with the virus. Wearing your face masks, observing social distancing, and frequently using your sanitizers while obeying all Covid-19 restrictions is pertinent to your well-being. You do not want to put your kids, family members, and friends at risk of the virus. Many people with infected relatives find it hard to live with the reality that their loved ones are infected with the virus. We need to abide by the health experts’ measures to rid us of unnecessary stress. Stay clear of whatever has the potential to make your well-being compromised and impact your finances negatively.

As much as you need to be informed, it would be best to stay calm and less paranoid. If the news begins to become a paranoia source for you, you must find better ways of being informed about what’s happening. Ask a friend for updates at your comfortable pace, rather than watch the news. Significantly engage yourself as the pandemic persists, do fun and work-related tasks to keep your mind in shape. The better your mind’s framework is, the higher the odds that you’d surmount any challenge you face. This is the more reason while your mental health, emotions, and overall well-being mustn’t be compromised.

I’m confident we can be sane and weather our way through this storm without making so many losses. Prioritize your mental health, realize worry doesn’t solve a thing, and most importantly, it’s okay not to be okay. Many people are facing similar and worse situations like you. Learn to cut down on your costs and restrategize your finances for long-term economic uncertainty.

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