Michael Pilarczyk on a positive mindset in tough economic times

It is important to always think positively and to continue to see the opportunities, even in uncertain times. That's what Michael Pilarczyk, entrepreneur author of the book 'Master Your Mindset', among other things, says in conversation with Paul Buitink of Holland Gold. According to him, the way we think and look at the world and ourselves is much more important than our origins. Our mindset determines how we deal with the setbacks and opportunities that come our way.

Especially now, it is important to develop a positive mindset, when the economic outlook is rapidly deteriorating and people are losing faith in the government and in the value of money. This is a worrying development, because according to Pilarczyk, trust is the basis of successful relationships. Not only in the personal sphere, but also in our relationship with the government and the money system.

Make sure you have a financial buffer

Now that we are on the eve of a new financial crisis, it is very important to maintain a financial buffer for six to twelve months to absorb possible setbacks, according to Pilarczyk. As a result, you are less vulnerable and you can continue to make the right decisions even in the face of setbacks. You need to build up that buffer in good times, when you have the opportunity to put some money aside.

Just as important as maintaining a buffer is making sure you can access it at all times. If you only have money in the bank and you can no longer withdraw money, you will not have access. And that has happened more often in recent years, think of Greece, Cyprus and Lebanon, for example. Banks closed their doors and imposed restrictions on the withdrawal of money, preventing people from accessing their savings. That is why it is important to have some cash and precious metals at home in addition to money in the bank.

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