Are you going about your day like everything is normal?
Normalcy Bias is the tendency for people to believe that things will always function the way they normally have and therefore, UNDERESTIMATE both the likelihood of a disaster and its possible effects.
Basically, having a normalcy bias is the assumption that “everything will be just fine.” But sometimes, there are pending disasters where people don’t yet see the danger.
Like if a hurricane is coming … the weather might seem nice, so some people aren’t worried and don’t prepare because the sun is shining and there’s no wind. I saw this first hand in Miami – 78 degrees, warm, beautiful September days – but unseen hurricanes were on their way to the coastline.
Whether it’s a hurricane or a virus, many people don’t prepare until they actually see the disaster unfolding before their very eyes. By the time a disaster is already happening, it’s often too late to help those who didn’t prepare.
This goes for finances, too. Don’t have normalcy bias with your finances.
Think about this: The middle class has a normalcy bias – making 50K a year, thinking everything is fine; then, a financial crisis will come. You may not see it yet …
DENIAL
When they first hear of disaster, most people deny. Many people experienced this when they first heard of Kobe Bryant’s death in a helicopter crash. I know when I first heard the news, I thought it must be a false report. Denial.
But if you are in the middle class, you need to stop denying that your financial situation is okay.
We live on an economic planet and 50K annually is NOT enough. You may not see it now, but if you don’t change something and start increasing your income, when the financial crisis comes, you’ll be unprepared like the person who failed to heed the hurricane warnings.
Not to make light of the coronavirus, but keep in mind that today there is a pandemic of average in this world and it’s very contagious. You need to have a good attitude, and a good attitude comes from good production. The more you produce, the better your attitude will be, and the higher above average you’ll fly.
Just as your body is a reflection of what you put in it and how you take care of it, your mind is the same.
- I keep positive books in my house.
- I write my goals down each day.
- I control what I watch – I want to watch winners.
Your life and your career depend on your attitude. You need to control your content. I stay positive by controlling the content of my mind.
I’m not saying you should be falsely positive – that would be having “normalcy bias.”
Disaster is coming, whether it’s war, the flu, or financial … are you prepared?
