How should ordinary people survive during an economic downturn?

As an ordinary person, combining publicly available data online and personal experiences, I dare to discuss the economic trends in the country for the second half of the year.

Please first look at two sets of data:

Data One:
"The latest data from the National Bureau of Statistics of China shows that in the second quarter of 2025, China's economy grew by 5.2% year-on-year, slightly lower than the 5.4% in the first quarter, resulting in a GDP growth rate of 5.3% for the first half of the year. Under the easing of trade frictions between China and the United States and ongoing government stimulus policies, the Chinese economy demonstrates resilience."

Data Two:
Guoxin Data released the national auctioned property big data analysis report for January to December 2024. The data shows that from January to December 2024, the number of auctioned properties listed nationwide was 657,842 units, a year-on-year increase of 51.69%; the transaction volume was 163,372 units, a year-on-year increase of 11.03%; the transaction rate was 24.83%, with commercial properties having the lowest transaction rate.

Transaction situation of judicial auction houses in 40 large and medium-sized cities across the country from January to December 2024:
In my memory, auctioned properties are usually impossible to snatch without connections; you can't even think about it. Why is it that they can't be auctioned now?

It can be seen that the real estate bubble has burst, and the economic downturn has become an undeniable fact; tightening the belt to get by is just the beginning.

When the economy is booming, the rich are the first to move into luxurious villas; when the economy is in decline, it is the working-class people who are hit first.

Last time I returned home, I chatted with my barber. I remember the last time (two years ago) when I came back, he said he planned to open a branch, and he had already chosen the location. This time on my way to find him, I saw another barbershop opened next to his. I casually asked him if he had opened a branch. He said no, that in 2024, business was just average, and he didn't dare to take the risk of opening a branch. He mentioned that there was a time when business was really bad, and he even thought about setting up a stall at night to sell some things. He had already bought the equipment for the stall, but the business of his barbershop kept him from leaving.

I don't want to create anxiety, because anxiety is useless. So what should we do as ordinary people?

I have a few immature suggestions, and everyone can criticize or add better suggestions:

1️⃣ Adjust your mindset and don't be anxious: Eight years of resistance, ten years of the Cultural Revolution, three years of the pandemic, and we still made it through. The economy has cycles; it won't always be good, nor will it always be bad.

2️⃣ Cut costs and maintain cash flow: If consumption needs to be downgraded, then downgrade it. Your own life is lived for yourself, not for showing off to others. Adhere to long-termism, practice decluttering, and reduce material desires. Maintain your cash flow; you can invest and manage finances, but prioritize capital preservation.

3️⃣ If you have a stable job, it's best not to rush into entrepreneurship: many simple startup projects are currently saturated, such as food delivery, ride-hailing, beauty and nail services, live-streaming sales, and dining, among others. If you want to try, it is recommended to lower costs and test the waters first.

4️⃣ Seek opportunities: During the Great Depression in the 1920s in the United States, there were still people who could make money. So, do not completely lie flat and be content with poverty. Analyze more, observe more, and learn more, but also do not act impulsively; eliminate FOMO emotions.

5️⃣ Learn, learn, learn: You can learn anything, economics, finance, programming, modification, traditional Chinese medicine, metaphysics, etc. Don't limit yourself in life. Many people completely give up learning after graduating from school, thinking they are too old and their brains can't keep up. Who told you that? Is there scientific evidence? Why impose limits on yourself? There are many people in their 50s who go to college, and many who learn piano after retiring in their 60s. I've even seen on Xiaohongshu a 60-year-old studying IT in the United States. We're all human, so why impose so many restrictions on yourself? No anxiety allowed, everyone start learning.

6️⃣ Priority repayment: If there are no debts, life may be a bit financially tight, but it can still be manageable. However, once there is pressure from a mortgage or car loan, controlling one's mindset becomes very difficult. My advice is: if you can still manage to pay the mortgage with some effort, continue to pay it. If it’s really unmanageable, you can discuss adjusting the ratio with the bank (after all, if there are so many defaults, the bank is also anxious). If it truly exceeds your capability by too much, it’s better to sell if possible. The notion of a "necessary" house is completely a false proposition; it’s just a house. How did it become a necessity? Will you die without a house? Holding on to a house you can’t afford is more about not wanting to let go of pride or the once glorious version of yourself.

7️⃣ Never think about a quick fix: As long as the green mountains remain, you don't have to worry about firewood. Imagine the worst-case scenario: cutting off supplies, being in debt, going to jail, and then what? What can you do? Compared to some poor or war-torn countries, at least your life is safe. In a resource-abundant country, you won't starve to death; even begging can allow you to survive.

In the crypto world, I don't envy those who become rich overnight, because I know it requires a lot of luck, courage, insight, and opportunity. I admire those who are in debt but still firmly stick to their principles of making a profit. At least the risks are reduced, and they won't worsen their financial situation. Moreover, the current profit-making landscape is increasingly leaning towards long-term development. Whether it's infofi or participating in testing, there is at least a month-long process.

"People will never earn money beyond their understanding." Having heard the stories of those warriors who went from 3000U to tens of millions of U, you will find that they also experienced a process of cognitive enhancement. The myth of going from zero to millionaire will definitely be played out in the crypto space again, but the premise is that it must be within their understanding.

The cryptocurrency industry combines traditional finance and on-chain technology, making this field ever-changing and profound. If you don't take the initiative to study and research for yourself and only listen to others' hype, then you will forever be just a victim.