With signs all over that this “booming economy” may not be as robust as is reported, it may be time to consider the possibility of all-out economic crash. BEFORE and economic collapse occurs, there are six things that you should do to prepare yourself and your family, giving you the best chance when it all breaks down.
- Stockpile Necessities: this one should be a “no brainer” for seasoned preppers. Necessities include, but are not limited to, food, water, water filtration system, personal hygiene items, soaps, medicines, and first aid supplies. These things will disappear first during any catastrophe and ensuring you are in possession of enough to get you through a few rough months will be comforting.
- Keep Some Cash ON HAND: once the economy does collapse, you will probably still have time to use cash. That window will be limited, of course, but it is possible many will still see the value in that paper money, and you could use it to purchase things you might need.
- Get A Hold of Some Precious Metals: used as currency from the time humanity constructed a currency system, precious metals will be valuable items to barter with. Consider stocking up on other items that could be of bartering use too, such as ammunition, and liquor. Both of those could be traded for items of necessity if need be.
- Keep an Emergency Fund: having a liquid emergency fund could be a great option if you can easily get to the money. Plus, should food prices skyrocket, you will have enough to cover it without dipping into your emergency prepping food at first.
- Pay Down Debts: the fewer people you owe money to during good and bad economic times, the better. Even mortgages should be paid down if possible. It’s not the easiest thing to do, but if extra money can be used to pay things down, harassment from lenders won’t be an issue. You won’t be asked to repay the money if you don’t owe any money, and therefore, everything I’ve suggested you save (#2, 3, and 5) could be used for getting those necessities and essential items to help you make it through a financial disaster.
- Learn to Grow Your Own Food: this one is tough for people living in colder climates, but food can be grown indoors, and all it takes a few simple internet searches to help you out. If you can grow your own food and you don’t eat it all, it could be another bartering item that you’ve got on hand! I don’t have to tell you how vital generating your own food supply will be in the event of an economic collapse.
These are the six most powerful ways one could prepare for an economic collapse. You should also be able to recognize the signs of a failing economy and be able to see past the surface of rosy propaganda offered by many mainstream media outlets. A quick look deeper at any real statistical data shows that things could get ugly economically, and when that happens, it’ll likely happen quickly leaving those who have chosen to not prepare in advance at a complete loss.