The Yeshivah "Tomchei Temimim Lubavitch", the first to integrate the "revealed" part of Torah (Talmud and Halachah) with the esoteric teachings of Chassidism in a formal study program, was on this date founded by the fifth Lubavitcher Rebbe, Rabbi Sholom DovBer Schneersohn.
As the last month of the Jewish year, Elul is traditionally a time of introspection and stocktaking -- a time to review one's deeds and spiritual progress over the past year and prepare for the upcoming "Days of Awe" of Rosh HaShanah and Yom Kippur.
As the month of Divine Mercy and Forgiveness (see "Today in Jewish History" for Elul 1) it is a most opportune time for teshuvah ("return" to G-d), prayer, charity, and increased Ahavat Yisrael (love for a fellow Jew) in the quest for self-improvement and coming closer to G-d. Chassidic master Rabbi Schneur Zalman of Liadi likens the month of Elul to a time when "the king is in the field" and, in contrast to when he is in the royal palace, "everyone who so desires is permitted to meet him, and he receives them all with a cheerful countenance and shows a smiling face to them all."
Specific Elul customs include the daily sounding of the shofar (ram's horn) as a call to repentance. The Baal Shem Tov instituted the custom of reciting three additional chapters of Psalms each day, from the 1st of Elul until Yom Kippur (on Yom Kippur the remaining 36 chapters are recited, thereby completing the entire book of Psalms). Click below to view today's Psalms.
Chapter 43
Chapter 44
Chapter 45
Elul is also the time to have one's tefillin and mezuzot checked by an accredited scribe to ensure that they are in good condition and fit for use.
Links: More on Elul
Why must you see every downturn as a punishment? Perhaps, on the contrary, it became time for you to receive greater things from Above.
Only that, like a metal spring, you must first become small before you can unleash your power.
Like an olive, you must allow yourself to be crushed to discover your oil.
Like a seed, you must first come down from your tree and lose yourself within the earth so you can sprout and grow into a mighty oak.
Perhaps all these troubles of yours are G-d's way of helping you along that path, helping you become small.
And if so, the remedy is obvious: Make yourself small on your own and relieve Him of the task.
Truth be told, you can do the job much better on your own—far less painfully and with faster results.