Start saving up and preparing your survival stockpile of essential supplies. Follow the tips below to get everything you need before an economic collapse.
Settle all debts
Before you buy more supplies, settle all debts when you can. The less debt you owe, the fewer issues you will have with creditors.
You'll also have an easier time prepping when you don't owe money to anyone. (Related: Financial preparedness: 13 Ways to prepare for hyperinflation.)
Pay home property taxes
Before SHTF, pay home property taxes so the government can't take your home.
Generally, the property tax is collected by the lender as part of your monthly payment, like your home insurance is. It might mean added work on your part and your monthly payment system, but you might want to make that payment directly each month or every quarter if your lender and the taxing agency in your area allow it.
Withdraw liquid money
If you have news of possible economic collapse, be ready to withdraw liquid money within a week or less to avoid the crowd of people rushing to withdraw their money from banks.
Always keep small bills on hand
Make sure you always have some cash available in small bills. If you're worried about having extra cash at home, keep your money and important documents in a small safe.
You need small bills in case banks are closed for days or months and you need more supplies.
Learn important prepping and survival skills
Take the time to learn essential prepping and survival skills such as:
- Car repair
- Construction
- Cooking
- First aid
- Gardening
- Gun repair, bullet reloading
- Home canning
- Sewing
- Soap making
- Water filtration
- Welding
After SHTF, you can also offer your skills to others in exchange for supplies.
Invest in useful tools
Invest in backup cooking methods like a Dutch oven, a solar oven or a camping stove with extra fuel.
Stock up on food
Make sure you have enough food in your stockpile. You will need basics like baking powder, baking soda, beans, flour, honey, pasta, rice, spices and sugar so you can make meals after SHTF. Practice following some recipes now.
Stock up on recipe books
While you can get free recipes from the internet, you might not be able to access them if you lose electricity. Visit thrift stores or used bookstores and buy old cookbooks with recipes you can make various dishes using the ingredients in your stockpile.
Learn how to bake
Learn how to bake so you don't need to worry about where to get bread, crackers or biscuits after disaster strikes.
Start gardening
If you don't have a garden yet, make sure the soil in your backyard is ready for gardening. With a home garden, you can grow and harvest your own food, but this will take some time so you need to start immediately.
After you prep the soil, get gardening tools and buy seeds or seedlings for your garden.
Stock up on water
Set aside space in your homestead for water because you will need a lot of it for drinking, cooking and other tasks like bathing and cleaning. Learn how to preserve the water so you don’t have to swap it out as often.
Prep a first aid kit
Your first aid kit must include the right items so you can handle minor medical emergencies at home if you are unable to go to the hospital for emergency treatment.
Stock up on prescription medication
If someone in the family has a health condition that requires prescription medication, stock up on their meds before SHTF. Check with your doctor if you can purchase a 90-day supply or a one-year supply.
Stockpile hygiene items
Stock up on toiletries and hygiene items like soap, shampoo, toothbrushes and toothpaste.
If you use a washing machine to do the laundry, consider getting a manual washing machine and a clothesline, clothespins and a washtub or board if you don't mind washing clothes by hand. You also need to stock up on dish soap, laundry detergent and bleach.
Stock up on fuel
If you have a stove that requires propane, store it outside. You can store charcoal briquettes (without the starter fluid), clean pine cones, lump charcoal and wood scraps inside your garage or shed.
Store charcoal briquettes or wood scraps in air-tight containers like five-gallon buckets to make them last longer.
Update passports
Keep everyone's passports updated. You will need all passports ready for travel if you have to leave the country after SHTF.
If these measures seem excessive, just keep in mind that it's better to be overprepared than be unprepared during an economic collapse. Financial experts across the globe are worried about an economic collapse and the supply chain is still in shambles.
There's no such thing as being too prepared for economic collapse. Before SHTF, stock up on essential supplies like food and water, learn essential skills, settle your debts and save money to prepare for the worst.
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