Tips to help families manage in tough economic times:
Importance of Communication
- Talk and listen to each other's concerns.
- Work together to find solutions to problems.
- Set a regular time for family meetings.
- Keep Lines of Communication Open
Keeping Kids in the Loop
- Let kids know that the family may have to reduce spending on some items.
- Answer their questions as clearly as you can.
- Reassure them that you will work things out.
- Teach the difference between wants and needs.
Managing Stress in Tough Economic Times
Sources of Stress
- Prices rise but your income stays the same
- Cut-backs, layoffs or other restructuring creates instability at your employer
- You feel frustration with family members over spending or debt.
Take care of your body
- Try to eat a balanced diet
- Take time for an enjoyable physical activity. Exercise can be just the thing to relieve your body of tension.
- Get enough sleep. We tend to be more on edge and have less to give when we are tired. Getting a good night’s sleep can start our day off on a good note.
Take care of your mind
- Try to maintain a positive outlook. Remember that economics have cycles; sometimes they are down but hey will go back up again.
- You still need time for you, even if it is not something that costs money.
- Make sure you have someone to talk to if times get tough. This could be a spouse, partner, sibling, parent or good friend.
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