In case you don’t know yet (I am sure you do…), we are in a bearish market now.
We are living amid a crypto crash that has seen major coins dip.
For example, Bitcoin has fallen 70% from its all-time high in November 2021.
P.S. However, I trade with bots so I am still earning profits during these days, but that’s another topic.
And it’s not just crypto.
The world economy is also taking a serious beating, thanks to the COVID-19 pandemic, rising gas prices, and geopolitical uncertainty, specifically, Russia’s invasion of Ukraine.
That’s right; we live in tough times, and it’s common to feel negative or even despair and believe that most, if not all, is lost.
But even if you are feeling pessimistic, are you willing to stay positive about your financial goals and keep going during these times?
In this article, we will explore the winning money mindsets you need to adopt during a market downturn, so that you can stay on track with your money game and not get derailed by FUD, meaning fear, uncertainty, and doubt.
1. Keep Your Talk About Money in Check
There is no better time to pay attention to the story you tell yourself about achieving your financial goals than during a market downturn.
See, such turbulent times make it easy to say things like, “It’s a tough economic time, so even if I’m broke, it’s totally okay,” “I’ll make money when the situation gets better,” or something as simple as “I can’t afford this or that,” at this time.
But do you see the problem here?
You are talking negatively about money, and the more you do, the more you reinforce that scarcity mindset.