No one likes to see the value of their investment portfolio decline. When you find yourself in a down market, it can be challenging to get through it unscathed.

Many people are afraid of the stock market, as there is always a chance that your investment can go down if the market doesn’t do well overall. However, this doesn’t mean you should remove all of your investments from the market and sit on your cash while you wait to save up enough money to make it worth it to get back in again later.

Instead, here are 5 things you can do to make it through a down market without having to resort to panic selling in an attempt to stay afloat until the market picks back up again.

Survive Through An Economic Downturn

1) Control What You Can

The first thing you can do to get through a down market is to take a look at what you can control. It includes your portfolio mix, your trading strategy, and risk tolerance. If you have a plan and stick to it, you will be in good shape.

2) Monitor Less

It may seem counterintuitive, but if you are constantly checking your portfolio, you are more likely to make rash decisions. Instead, set up alerts on your trading software so you can check in less often.

A lot of us get caught up in keeping a check on investments consistently. This can be a great thing — if it works! But if you don’t take breaks or step away from your investments every now and then, your brain will get stuck on trading and making money, instead of enjoying the ride while it lasts.

So take a break from investing when necessary — maybe set up automatic transfers into savings accounts so that your portfolio isn’t completely dependent on your moods.

3) Find Support

When the market is down, it is easy to feel like you are the only one suffering.

It can be difficult to find the motivation to keep going. This is where having a supportive network can really help. Whether that means talking to a financial advisor or using trading software, having someone to help you make decisions can ease the stress of downtimes.

You need to be able to talk to people who understand how you feel, who can share their experiences and help you make sense of your own life.

4) Give It Time

When the market is down, it can be tempting to want to do something – anything – to try and turn things around. But the reality is that the market will ebb and flow. And if you are patient, it will come back around. In the meantime, here are five things you can do to weather the storm.

1) Maintain a long-term perspective: Remind yourself that this too shall pass, as markets always recover eventually.

2) Make new goals: Instead of focusing on what you lost, shift your focus to what’s next.

3) Stay engaged: If you were investing for the long haul before the downturn, keep doing what you were doing before. Patience pays off in the end.

4) Stick with your plan: Don’t let fear or panic change how you invest for the future.

5) Find a mentor: Finding someone who has been through tough times in the past, and who is willing to share their experience with you, can make all the difference.

5) Think Positive

It can be difficult to stay positive when the market is down, but it is important to remember that this is only a temporary setback. There are always going to be ups and downs in the market, but eventually, it will rebound.

Don’t fall into FOMO

When the market is down, it can be tempting to think that you are missing out on opportunities. This is known as the fear of missing out (FOMO). But acting on FOMO can lead to hasty decisions that you may later regret.

So, how can you stay calm during a down market?

The key is to not act impulsively. While stocks might not seem like the best investment right now, don’t forget that they still have the potential for growth in the future. Remembering this will help prevent you from making rash decisions in your portfolio and keep you focused on what matters: your long-term goals.