In today’s world, few things trigger stress and anxiety as consistently as financial troubles. The COVID-19 pandemic, which was officially declared on March 11th, 2020, not only posed a global health crisis but also sent shockwaves through the economy. The loss of jobs, business closures, and financial instability became harsh realities for many. When you’re faced with such uncertainty and financial strain, it’s natural to grapple with anxiety about your future.
In this article, we’ll explore the wisdom of Stoicism and how it offers valuable insights to help shift your perspective, regain tranquility, and navigate financially challenging times. Stoicism, a school of philosophy founded in ancient Greece, teaches us how to approach life’s uncertainties and adversities with resilience and wisdom.
1. Get Back to Basics: Reevaluating Your Needs
Stoicism, closely related to the Cynic school of thought, places minimal value on material wealth. It reminds us that the most precious commodities in life are often intangible—time, the ability to make choices, and the power to act. While wealth has its merits, it falls beyond our control and is not a prerequisite for happiness.
Survival requires access to food and shelter. In many parts of the world, even in economically disadvantaged regions, these basic needs are met. If you’re watching videos on YouTube, your fundamental necessities are likely covered.
However, in developed societies, the attachment to money often extends far beyond mere survival. Stoicism encourages us to question our attachment to our current income. Are we striving to keep up with societal expectations? Are we driven by the need to maintain social status? Are we fearful of losing our relationships due to financial setbacks? Seneca, a Stoic philosopher, aptly noted, “Fidelity purchased with money, money can destroy.”
Consider another quote from Seneca: “Suppose that you hold wealth to be a good: poverty will then distress you, and, which is most pitiable, it will be an imaginary poverty.” Stoicism challenges us to recognize that anything beyond the essentials is superfluous. While status and wealth can be desirable, we must be willing to let them go if they jeopardize our inner peace.
2. Focus on What You Can Influence: Embrace the Present Moment
Worry often stems from fixating on an uncertain future and attempting to control elements beyond our reach. Financial difficulties can make us fearful of losing our income and failing to meet our financial obligations. However, Stoicism reminds us that worrying about the future is futile and counterproductive.
Our capacity to take action is a powerful tool, and it exists solely in the present moment. The present is where the future is shaped. Instead of dwelling on a daunting road filled with obstacles, Stoicism encourages us to break down our challenges and concentrate on the immediate task at hand.
Worrying serves as a drain on our time and energy, preventing us from taking meaningful action when it’s most needed. To live a Stoic life is to embrace the understanding that only the actions we can take in the here and now matter.
3. Ask for Help: Embrace Interconnectedness
Stoicism underscores the interconnectedness of all things in nature. We are part of a collective whole, and helping one another during times of hardship benefits the entire community. History has shown that people often display a natural inclination to support each other during crises, such as the COVID-19 pandemic.
Furthermore, research indicates that offering assistance to others can boost your own sense of happiness. Marcus Aurelius, in his ‘Meditations,’ advised against hesitating to seek help from others. He wrote, “Don’t be ashamed to need help. Like a soldier storming a wall, you have a mission to accomplish. And if you’ve been wounded and you need a comrade to pull you up? So what?”
Understanding the interconnected nature of our world is paramount. We rely on our environment, the efforts of others, and the infrastructure around us for our well-being. In an interdependent world, refusing to seek help during challenging times is, as the Stoics would argue, irrational.
4. Remember That You’re Not Alone: Shared Struggles
If you find yourself facing financial hardship, it’s important to recognize that you’re not alone. In many developed regions, robust social safety nets exist to provide a buffer against severe poverty. While the fear of losing wealth can be a significant source of anxiety, it’s worth acknowledging that financial struggles are a common human experience.
Seneca, who was a prosperous statesman, understood the weight of the rich: the fear of losing what you have. However, he also emphasized that if you do become impoverished, you’ll be one among many. In a broader context, your financial struggles connect you with countless others who face similar challenges.
When viewed from this perspective, the fear of losing wealth becomes less isolating. Many individuals around the world grapple with financial uncertainties, which makes your struggles part of a shared human experience.
5. Put Your Tranquility First: The Stoic Approach
Epictetus, a prominent Stoic philosopher, emphasized that your peace of mind should take precedence over external circumstances. While improving your financial situation is a reasonable endeavor, Stoicism teaches us to prioritize our mental well-being.
Focusing on tasks that enhance your financial stability is essential, as long as it doesn’t come at the expense of your peace of mind. Epictetus advises, “If you want to improve, reject such reasonings as these: ‘If I neglect my affairs, I’ll have no income; if I don’t correct my servant, he will be bad.'” Instead, he encourages us to maintain a balanced perspective and strive for happiness under any circumstances.
Stoicism introduces the concept of ‘amor fati,’ or ‘love of fate,’ which involves embracing the future, regardless of its outcome. It reminds us that striving to be content in all situations is a noble pursuit.
6. Remember What You Do Have: Cultivating Gratitude
Humans often overlook their blessings while fixating on what they lack. Stoicism encourages us to shift our focus from scarcity to abundance. Marcus Aurelius advises us to contemplate the value of the things we possess and envision life without them.
Recognizing the things we often take for granted, such as good health, relationships, and personal freedom, can foster gratitude. Ultimately, the most powerful asset we possess is our ability to make choices, especially in challenging situations. Stoicism teaches us to treasure this precious gift.
Conclusion
Stoicism offers valuable insights for those facing financial difficulties, emphasizing the importance of perspective, action in the present, interconnectedness, shared struggles, mental well-being, and gratitude. By incorporating these Stoic principles into your life, you can navigate financial challenges with resilience, tranquility, and a deeper appreciation for the present moment.