18 March 2009
Knowing what you really need to survive during an economic depression is just as important now as it was during the Great Depression. Learn how to prepare now, so you are ready for the impending depression!Things you'll need: determination, perserverance, a small nest egg, a home, food.
Things You'll Need:
* A Small Nest Egg
* A Home
Food - In order to survive a depression, you need a stock pile of food. Having a good stock of Canned food and dry food already in your home is a significant part of survival during an economic depression. Set aside a few dollars of your grocery budget each week and buy canned goods and dry foods that are on sale. They last a long time and can easily be prepared. If you have a small amount of space in your home, get creative with storage. Canned goods are small and can easily be stored under beds or in closets.
During the Great Depression, food was rationed and was difficult to obtain. Money was short and rations were small. Think now, in case this happens again. Stock up on food so you are prepared for a depression!
Shelter - You need a home! After food, always be sure to pay your housing bill first. Whether it be rent or a mortgage, this should always be your first payment, especially during a depression. Credit card companies may hound you more than your mortgage holder, but if you lose your job in a depression, you will be glad you paid your mortgage up to date! Having a home in an economic depression is a lot more important than a credit card.
Warmth - After food and shelter, you must remember to pay your heating bill! If you are fortunate enough to use wood for heating your home, stock up on wood. Buy a few extra cords throughout the year so you'll be sure to have enough if a depression halts the sale of firewood. If not, always make sure your heating bill is paid on time and up to date. You wouldn't want to run out of heating oil in January after you lost your job because of the depression.
A Small Nest Egg - Even if it's only the change out of you pocket, save something every week! (See resources for tips to Save Money Without Trying) During a depression, credit cards will be worth nothing more than the plastic they are printed on. You will need cash and chances are, lots of it. Save change, dollars or as much as you can each week. Keep a small amount of cash in your home at all times. During a Depression, banks often close, stock markets crash and while your money is protected by the government, I'm sure you won't get it back the next day.