And we thought 2020 was crazy… This past January certainly had its fair share of chaos and confusion—most of it centered in the Greater Washington area. Many were predicting some sort of civil war and others even had premonitions that were apocalyptic in nature. As we know from experience, the world just does not end all that often, thank goodness.
As we approach the last several weeks of calendar year 2020, I thought it would be useful to put things in perspective by looking at some economic and demographic data that should paint matters in a more positive light than what we have gotten used to throughout 2020.
Surge capacity is a term I was not all that familiar with until I heard it several times this past month. Essentially, surge capacity refers to the human tendency of being able to draw on a reserve of mental and physical energy in times of adversity and crisis.
Knowing our inherent human biases may not protect us from murder hornets, locust swarms, or whatever else 2020 has to throw at us but at least it will allow us to be more aware of some of our natural limitations. With heightened awareness, we should, in theory, be able to put ourselves in a more advantageous position to make high-quality decisions.
As companies continue to navigate the uncertainties that have come with the Coronavirus pandemic and employees figure out their often changing daily routine, financial stress triggers are bound to occur. We've identified six common financial stress triggers with ideas on how to overcome them.