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5 Survival Strategies for an Economic Depression

Many have finally come to the realization that there is an economic depression staring us right in the face.  The coming years will test us like they have never tested us before.  The years of consumerism, taking vacations, and spending beyond their means is a thing of the past.  The reality of the situation is that many will simply have […]

Many have finally come to the realization that there is an economic depression staring us right in the face.  The coming years will test us like they have never tested us before.  The years of consumerism, taking vacations, and spending beyond their means is a thing of the past.  The reality of the situation is that many will simply have to learn to get by on the basic necessities in order to keep their lives going and rely on their will to survive.  Surviving an economic depression will require one to change their entire outlook on how they live there lives.

Save Yourself

Understand that no one will come to bail us out of an economic depression.  Each individual must take personal responsibility for themselves and for their long term sustainability.  Finding ways to be more self reliant in a situation of this magnitude will help to ensure that each person is doing their part and keeping their family alive.

Store Food – Due to the possibility of a food shortage, as well as an increase in food prices due to an inflationary period from a major recession, the price of food will go up at least 20% or more.  Buying foods before this crisis hits will help sustain a family longer than foods bought later on during the inflationary period. Depending on what is purchased, lasting foods such as dry goods, dehydrated foods and dry beans and rice can be stored for years.  This will give a person the best bang for the buck.

Use Saved Money and Put it into Hard Assets – Do not take the chance that your money will be frozen in banks.  Investing your money in hard assets (anything tangible that will be used for the next 10 years) such as long term food, food devices (grain mills, cast iron pots), silver or gold, farming equipment, tools, necessary clothing, etc.


Cut Corners – Find ways to cut costs in order to save necessary money for other means.  Money is going to get tight very fast and if a person learns to live on less, it will only alleviate the burn later on.

  • Driving 30-40 miles to go to work is going to cost a lot of money in gasoline.
  • Start using coupons
  • As painful as it may be for some, try to not use air conditioning or heating unless it is absolutely necessary.  If it is hot outside, open the windows.  If it is cold outside, light a fire.

Learn Skills –  Learning ways to do things without paying others to do them, will save a person an exorbitant amount of money.  Skills such as basic mechanic skills, gardening, sewing, and wood working are skills that will be used during a depressionary period.  Acquiring knowledge on ways to attract wildlife, natural forms of medicine, how to can and preserve foods are skills necessary during times where money is tight and food must be stretched out over a longer course of time.

Investing – Assuming that major debts for a family are paid, any large investment should be made into things that can assist a family for long term self sustainability such as investing in farmland, tools, farm equipment or precious metals.  During a depression, many find they can no longer live in the city.  There will be too many hungry and too many unemployed.  The only option will be to move out of the city in order to find a way to make money in order to care of their family.  Farmland used for long term survival, is a necessary long term investment.  Additionally, investing in non-gmo or heirloom variety seeds will give a major return on the original investment.  Many believe that seeds will hold more bartering power than precious metals.

It takes a lot of preparation to create an self reliant environment.  Beginning early when there is still time to learn and master skills will make surviving the next Depression easier when the hard times begin.



 

This article was originally published at Ready Nutrition™ on January 28th, 2010

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