The definition of a recession according to the Cambridge Dictionary is:
“A period, usually at least six months, of low economic activity, when investments lose value, businesses fail, and unemployment rises.”
According to most financial institutions the definition is:
“Two consecutive quarters of negative gross domestic product (GDP)”
These definitions are pretty clear and yet folks still can’t seem to agree whether we are in a recession or not (just type ‘Are we in a recession?’ into Google and you’ll see what we mean!).
This is what we say: You get to choose.
None of those things – nationwide economic activity, investment value, national unemployment or gross domestic product are remotely within your control.
So why get pulled into worrying about them?
Instead, choose to look at your own personal circumstances and what you have control over, because if YOU have enough money, if your income is stable or growing, if your investments are secure then YOU are NOT in a recession.
Post pandemic, the months and years ahead of us are shaping up to be a watershed moment for a lot of people.
You can choose to board the train of world recession, scarcity and lack of control.
You can choose to believe in a world of abundance, back yourself and focus on what you can control.
You will be in a relationship with money for your whole life. You can choose to make that relationship fraught, heavy and inhibiting or you can choose to make it fun, light and expanding.
So today we’re asking, where will you choose to play?
Because the choice really is yours.