As is the case with prepping for any disaster, we must look ahead to the consequences of the event. The aftermath of a financial crisis could disrupt everything in our daily lives, including our food and power sources. It’s important to learn how to survive on our own when SHTF financially.

#1. Get out of debt.

Ok, I get it. Not everyone can pay their mortgage overnight, but the least you can do is stop using credit cards. Cash and debit cards ensure that you’re only paying with money you actually have.

#2. Set some cash aside

The more the better, but the larger the sum, the more you have to worry about caching and security. At the very least, you should keep some in your bug out bag, your get home bag and, of course, your EDC kit.

#3. Stay away from the stock market

Unless you want to become an expert at it, you should just forget about it. A much better way to make money would be to start a business related to prepping, such as starting a large garden and selling the excess produce.

#4. You still need to prep like you would for any other disaster

Regardless of the details of the economic crash, you’re still going to need food, water, security, a place to sleep and a long-term survival plan.

Every piece of gear, every candle or flashlight, every bag of rice still matter.

#5. Invest in gold and silver

Never in human history have these two precious metals lost their value, making them a really safe bet.

Please don’t turn all your cash into gold, there will always be future expenses beyond those you foresee. Take it slow and inform yourself to avoid having to sell some of your gold back just to get some cash.

#6. Inform yourself on the tools and gear to buy

One way to “prep financially” is to avoid spending money on bad product and to make sure you consume your stockpile instead of throwing it away.

If you do survival “by the books”, you’ll save a lot of money in the long run because you’ll make far fewer mistakes.

#7. Make long preparations

As you probably know, it takes decades to recover from a financial collapse, once it is over. So things like having a bug out retreat, a garden, a renewable water source (such as a well) and even growing animals should be taken very seriously.

If you want to survival a financial crash, you should stop competing in the rat race. Focus all your attention on how to become self-sufficient.

Are you concerned about a financial collapse? What other tips do you have for financially preparing for one?

Article Source: Prepper's Will