Prepare for Economic Collapse

Are you prepared for an economic collapse? If so, are you actually putting that knowledge into action? In America today, people are more concerned about the threat of economic collapse than ever. In Venezuela, the struggle is a daily reality.

It’s been estimated that there are over 6 million preppers in the U.S. and UK alone. But no one truly knows the actual number, as the vast majority of preppers keep their prepping to themselves.

So what is everyone preparing for?

Statistics show that economic collapse is the #1 disaster that people are most concerned about. This shouldn't be surprising considering the facts: we are facing an epidemic of economic problems that are potentially detrimental. We live with the greatest debt in the history of the world, the banking systems worldwide have been transformed into pyramid schemes of risk and debt- risk and leverage that could collapse at any time, and wealthy countries such as the US have been living far above their means for decades. Meanwhile, the United States is deindustrializing at a rapid pace and poverty in the country is astounding. Nearing one million adults and children are homeless in America, and 40.3 million are on food stamps.

With these alarming numbers, anyone not concerned about the economy should have their heads examined.

Auspiciously, an increasing number of Americans and Europeans are convinced that we are all heading for a terrible economic crisis. Once they come to that realization, they decide they need to take their lives into their own hands and want to know what they should do.

The reality is that getting prepared looks different for each family based on their unique circumstances. Some people have a lot of resources, and others have very little. Some people are quite independent of the system and can move and do as they like, while others are completely dependent on their jobs and lifestyle and must keep up appearances- for now at least.

It is important to distinguish between "short-term" and "long-term" when talking about economic collapse. The total economic collapse does not happen all at once. It slowly unfolds over time. In the "short-term", many people are moving money around or building up emergency funds to prepare for a recession. For the "long-term", others are storing food and stockpiles of supplies in order to be prepared for a total collapse of society. Both approaches are wise, yet it is important to keep in mind that several different approaches will be needed at different times.

The strategies below are a mix of short-term and long-term strategies. Some will be important for your immediate future, while others may not be needed for a time.

But in the end, you will be thankful for the time and the effort you spent getting prepared while you still could.

The following are 25 things that you should do to get prepared for the economic collapse.

1. Emergency Fund

Do you remember what happened when the financial system almost collapsed back in 2008? Millions of Americans suddenly lost their jobs, and because many were living paycheck to paycheck, they got behind on their mortgages and lost their homes. You do not want to lose everything you have worked for during the next major economic downturn. It is important that you have some kind of an emergency fund in place. It should be enough to cover all of your expenses for at least six months, but I would encourage you to have an emergency fund that is larger than that.

2. Don't Put All Of Your Eggs Into One Basket

If the wealth confiscation in Greece taught us anything, it is that we shouldn’t put all of our eggs in one basket. If all of your money is in one account, it would be quite easy to wipe out. But if you have your money scattered around a number of different places it will give you a little bit more security.

3. Keep Some Cash On Hand

This is going along with the previous point. While it’s not wise to keep all of your money at home, you do want to keep some cash on hand. If there is an extended bank blackout or if the electricity goes off for an extended time- such as what is happening currently in Puerto Rico- you want to be able to have enough cash to purchase things your family needs. Just ask the people of Cyprus how disastrous a “bank holiday” can be. One way to keep cash secure at home is by storing it in a fireproof, concealed safe, and telling nobody but your immediate family.

4. Get Out Of Debt

Many people assume that an economic collapse would wipe out all debts, but this is not the case. In fact, if you are in a tremendous amount of debt you may be overly vulnerable if the economy collapses and you are not able to find work. Just ask the people who were overextended and lost their jobs during the last recession. Please get out of debt. Debt collectors are becoming increasingly ruthless. In some areas of the world, they are now putting people with a large debt into prison. Don’t be a slave to debt when the next wave of the economic collapse hits.

5. Gold And Silver vs. Vodka and Tobacco

In the long-term, the U.S. dollar is going to lose a tremendous amount of value and inflation is going to absolutely skyrocket. That is one reason why so many people are investing very heavily in gold, silver, and other precious metals. All over the globe, the central banks of the world are recklessly printing money. Everyone knows that this is going to end very badly. In fact, there is already a push in over 12 US states to allow gold and silver coins to be used as legal tender. BUT if the economic crisis is very bad, the bartering system will be widely implemented. During the great depression the three most sought-after items were alcohol, tobacco, and prostitutes. Just think of all the people who will trade their mother in laws for a cigarette when the shit hits the fan.

6. Reduce Your Expenses

Most of us are guilty of spending money on things that we do not really need. I have cut corners personally by learning to make my own laundry detergent at $0.02 cents a load, my own natural eyeliner which actually improves vision and costs $0.45 every 6 months, and buy my necessities in bulk. I do not have much space as a renter, but even a patio container garden with your most used veggies or herbs will help siphon money back into your pocket.

7. Start A Side Business or Learn a Trade

If you do not have much money, one way to increase your income is by starting a side business. There are many that you can start for next to nothing. And starting a side business will allow you to become less dependent on your job. In this economic environment, a job could disappear literally at any time. Plus learning a trade could make you a very sought after commodity after TSHTF and everyone begins to implement the bartering system again.

8. Move Away From The Big Cities If Possible

I realize this is simply not an option for many. A great number of families are completely and totally dependent on their jobs. But if you are one of the lucky ones and are able, now is a perfect time to move away from large cities. When the next major economic downturn strikes, there could be rioting and an increase in crime in major cities. If you are able to move to a more rural area you will probably be in much better shape.

9. Store Food

Global food reserves have reached their lowest level in 43 years. As the economy gets worse and global weather anomalies become even more unstable, the price of food continues to rise higher and the food supplies worldwide are becoming tighter. In the long run, you will be glad for the money you invested in long-term food storage now.

10. Grow Your Own Food

Gardening is a skill that almost all our ancestors possessed in the past, yet most today rarely use. Growing your own food makes you independent of the system, and it is a way to get prepared for what is ahead. You can also control what goes into your food and avoid chemical pesticides. A 6 foot by 4 foot chicken tractor is easy and inexpensive to build and holds 3 chickens, providing several hundred natural and healthy eggs a year. Even a tiny 1/8 acre backyard can hold a simple beehive for 3 pounds of bees, which will provide your household with pounds of raw, unprocessed honey each year. The possibilities here are endless, even with little space.

11. Dehydration Kills in 3 Days or Less

It should be on everyone's list to implement a plan to provide clean drinking water for your family when disaster strikes.

12. Have A Plan For When The Grid Goes Down

What would you do if the grid went down today and suddenly you did not have power for a very long period of time? Anyone who’s spent more than a few hours without power knows how frustrating it can be. You need to have a plan for how you are going to provide power to your home that is independent of the power company.

13. Extra Blankets And Warm Clothing

During any major crisis blankets and warm clothing are in high demand. They also could also make great bartering items.

14. Store Personal Hygiene Supplies

Many preppers store huge amounts of food, but they forget about personal hygiene supplies. During any long crisis, these are items that you would sorely miss if you do not have. These types of supplies also make awesome bartering tools.

15. Store Medicine And Medical Supplies

You want to have backups of medical supplies and any medicines that you may need. In an emergency situation, you really would not want to be without bandages or a first-aid kit. Over the course of a long crisis, you do not want to run out of the medicines that are critical for your health.

16. Take Your Vitamins

Some preppers do not think about this either, but it is important. It is becoming increasingly difficult to get adequate nutrition from the foods we eat. That’s why it is important to have an adequate store of vitamins and supplements to stay healthy and strong by filling in the gaps in our nutrition.

17. Make A List, Check it Twice

During a crisis, there will be a lot of other things that you’ll need in addition to food and water. The following are just a few basic things that will prove to be useful-

• axe
• manual can opener
• flashlight and extra batteries
• battery-powered radio
• lighters or matches
• fire extinguisher
• sewing kit
• tools
  This list could be much, much longer, but hopefully this will get you started.

18. Remember Your Two and Four Legged Babies

Young children and pets have special needs. As you store supplies, don't forget about the things that they need as well.

19. Entertainment

At the risk of sounding trivial, the truth is that our entertainment-addicted society would become bored and frustrated if the grid suddenly went down for an extended period of time. Card games, board games, books and other simple forms of entertainment can make enduring a crisis much easier.

20. Self-Defense

In the years ahead, being able to defend your family and self is going to become increasingly important. When the economy crashes, people who have not adequately prepared will become dangerous. Hungry people are desperate and will do anything.

21. Get Ammunition While You Still Can

Firearms will not do much good if you do not have any ammunition for them. Over the last several years, there have been reports of massive ammunition shortages. According to CNN:
“The run on ammunition has manufacturers scrambling to accommodate demand and reassure customers, as many new and seasoned gun owners stock up over fears of new firearms regulations at both the state and federal levels."
Don't assume that you will always be able to purchase large amounts of ammunition whenever you want. Get it now while you still can.

22. When You Gotta Go

Have a plan for what your family will do if you are forced to leave home. If you do have to leave, the following are some items that you will want to have available...

• map of the area
• compass
• Bug Out Bags for every member of the family
• sleeping bags
• warm clothing
• comfortable shoes or hiking boots and extra socks
• a pre planned escape location

23. Community

One important asset in a crisis situation is community. Having friends and neighbors that you can depend upon is invaluable. Time spent building these bonds now will pay off huge during a major crisis.

24. Have A Back-Up Plan And Be Flexible

Mike Tyson once said the following...
"Everyone has a plan until they get punched in the mouth."
No plan unfolds perfectly. So when your plan is disrupted, what will you do?
It is imperative for all of us to have a back-up plan and to be flexible during the years ahead.

25. Keep Your Prepping To Yourself

Don’t go around telling everyone in the neighborhood about your prepping. If you do, then you may find yourself inundated with "visitors" when everything falls apart. Prepping is something that you want to keep to yourself unless you happen to want a mass of desperate, hungry people banging down your door in the future.

Unfortunately, many humans still have blind faith that our "leaders" actually know what they are doing and will be there to make everything right when things fall apart.

And too many are still convinced that everything is going to be just fine. That we will always get taken care of when shit goes down.

But if you are reading this, you are probably much more awake than the average person.

Please get prepared while you still can.

The storm is coming, and time is running out.

Do you have ideas you would add to the list above? Please share in the comments!

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Images via Pixabay, Reuters and Creative Commons

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