Prepare for the coming global depression with these 11 tips

(NaturalNews) Natural News has committed to keeping readers informed about economic conditions both in the United States and the developed world, because there is so much going on that could affect the financial stability of billions of people.

As such, we are continuing as well to provide readers with reasonable, attainable, viable alternatives and solutions to potential economic crises, because we believe that simply reporting the news isn't enough. We also want you to know what you can do to mitigate a worsening financial situation so that you and your family can get through the tough times.

Here are 11 tips you can use to prepare for what we believe could be a coming global economic crisis of depression proportions:

1. Prepare for loss of revenue: One of the best ways you can survive economic hard times is by having a reserve of cash at your disposal. I'm not a financial adviser and don't claim to be, but personally, I have a cash reserve separate and apart from any bank or retirement accounts I may have. You should do the same.

2. Diversify your assets: Along the lines of No. 1 above, you should not have all of your financial vehicles in one garage, so to speak. Diversify your assets -- cash, land, investments, etc.

3. Reduce your debt: One of the best ways to protect the assets you do have is to get out of debt as much as possible. Debt is a personal finance killer, period. If you simplify your life now and live as "lean" as possible, you can reduce the debt you currently have much faster.

4. Reduce your exposure: If you have a financial consultant, you should talk to him or her about where your investment portfolio is most at risk, and move assets away from those risks now. "Markets tend to go down much faster than they go up, and during the next great financial crisis millions of Americans that have their life savings in stocks and bonds are going to get totally wiped out," says The Economic Collapse Blog.

5. Store food/water/supplies: This may seem obvious or repetitive, but this one step could literally save your life. Having food, water and other basic necessities stored (a couple of months' worth, at least) will mitigate any shortages of cash and other assets needed to buy these items (at a time when inflation will undoubtedly shoot through the roof). Get them now while you can better afford them.

6. Learn to grow food: Another way to lessen the effects of any food shortages (and in an economic catastrophe, there will be shortages) is by learning how to grow them yourself. You don't have to become a full-fledged farmer, but learning how to grow certain crops that you can then can/store will a) save you money now and b) provide necessary nourishment in an emergency.

7. Learn self-defense: I'm not talking SEAL training here, but rather I am advocating getting in better physical shape and, maybe, learning how to use, clean and store firearms or other defensive weapons. Understand that, as times get more desperate, so will people -- and desperate people will do desperate things. You will need a plan to deal with this.

8. Get out of the urban/suburban scene now: Obviously, not everyone has this option, but if you do, you should consider exercising it. There are two schools of thought here: One, being around others gives you a chance of surviving, because there is strength in numbers. But also, two, the strength of numbers could turn into a huge disadvantage if those numbers are directed at you and your family.

9. Get ready to move: If you don't find rural solace before the economy heads south, be ready to go find someplace that is safer; you may need to bug out of your current environment.

10. Be community-minded: Working things out now with your neighbors and close friends -- such as, what you all will do in an economic emergency -- will pay dividends if/when the time comes.

11. Plan -- and plan some more: Former heavyweight boxing champion Mike Tyson once famously said that everyone has a fight plan until they get hit with that first punch. So go ahead and make a "fight plan" now, but be flexible and have a backup plan. And another.

Sources:

http://theeconomiccollapseblog.com

http://www.naturalnews.com

http://www.telegraph.co.uk