Coping with economic turmoil

As Americans watch the value of their stocks plummet, and worry about their job security in an increasingly fragile economy, this question arises: how, psychologically, can we best deal with this? Is there a way to think about what is happening that might fend off total despair? We sought tips from Tal Ben-Shahar, author of the book "Happier" and teacher of what has been the most popular course at Harvard, on positive psychology. His list follows:

Tip 1: Give yourself the permission to be human.
If you are going through a difficult time, the best first step is to allow
yourself to experience the emotion. It is appropriate to be nervous or sad
when things are not going well, and fighting these and other painful
emotions will only strengthen them.

Tip 2: Recognize the value of hardship.
Going through hardship is not only natural--and to a greater or lesser
degree unavoidable--it is also beneficial. We potentially grow and learn in
difficult times. Take anywhere between 15 and 30 minutes to write
about what you are going through, how you are feeling, and the lessons you
can derive from the experience.

Tip 3: Spend time with nears and dears.
The number one predictor of wellbeing is not money or prestige, but rather
close relationships. Spend time with your best friend, your family, or
anyone you care about and who cares about you. As the philosopher Francis
Bacon wrote "Friendship doubles joy and cuts grief in half."

Tip 4: Find positive distractors.
Ruminating about the situation, at times, may actually hurt more than help.
Allow yourself to experience the emotion, but there is no need to dwell
about the situation endlessly. Engage in positive activities, such as
watching movies, listening to music, or whatever is fun for you.

Tip 5: Exercise regularly.
Even if you're feeling down and don't feel like getting out of the house, go
out and be active. The effects of physical exercise are similar to some of
our most powerful psychiatric medicines--without the side effects (or rather
with positive side effects). Exercising regularly--four times a week for
thirty to sixty minutes--is always important, but especially so when we're
going through hard times.

Tip 6: Appreciate the positive.
Even in hard times, remind yourself of the things for which you can be
grateful. Make a daily list, before you go to bed or at anytime during the
day, of the things that you appreciate. When we appreciate the good in our
lives, rather than taking it for granted, the good appreciates--it grows.
So while our savings or the economy as a whole may not appreciate right now,
there is no reason why the overall good in our lives cannot appreciate.