An economic collapse is a period of national or regional economic breakdown , when the economy is distressed, and it can last for years or even decades.
It usually happens following times of crisis such as war, civil unrest, or a pandemic. And it can make the world a very dangerous place, as it can lead to violent protests, and a breakdown of law and order.
If you want to have a good chance at surviving one, then you’d better start preparing now, because once an economic collapse begins, it might be too late.
Luckily for you, we’ve put together a list of 5 tips to help you get ready for whatever misfortunes may come your way.
-
Generate Your own Power :
During an economic collapse, you may not be able to rely on the usual energy systems to power your home. So, you’d better learn how to create your own electricity.
This could mean investing in a portable generator, solar panels, or even wind turbines.
The more you have to rely on utility companies during uncertain times, the more vulnerable you will be.
-
Great an Emergency Fund :
If you have to survive in an economic collapse, it will save you a lot of stress if you don’t have any debts to pay, and you have a big pile of cash saved up, but depending on how the collapse plays out, your money could quickly become worthless. So that’s not the only thing you should be saving up.
In a world where cash holds little value, precious metals such as gold and silver, and items to barter, such as medical kits and batteries, could become the new currency.
So you’d better start saving up now.
-
Stock up on extra Food and Water :
As supply chains and grocery stores shut down, having extra food and water on hand could be crucial to your survival.
Having enough non-perishable food, drinking water, and medical supplies to last for several months means that regardless of how the economic changes unfold, you’ll have the basics you need to live, growing your own food would help sustain you for even longer, start planting a garden now.
You could grow vegetables on a sunny windowsill, if you don’t have a yard.
-
Develop Healthy Habits :
Depending on the type of economic collapse and its severity, you may need to adapt to a survival lifestyle, which will be a lot easier if you’re in good physical shape, eat well and exercise if you want your body to be in the best shape possible in order to survive the challenges you’ll face.
During an economic collapse, the world could become a dangerous place, so you’ll want to be physically capable of handling it swiftly, and escaping any threatening situations you might face.
On that note, you might want to take a self-defense course, just in case you have to fight off anyone trying to steal your food and water.
-
Become an Expert at what you do :
When the economy is in crisis, people lose their jobs.
The experts in their fields are less likely to lose their jobs than generalists. If you become an expert in your field, you will have much more job security in hard times, and it is likely that during good times, you would be paid much more.
Also, if the economy devolves to the point where jobs and money are things of the past, you could always barter your expertise for goods or services.
When it comes to surviving an economic collapse, it’s better to be over-prepared than under-prepared. If you’re not ready for it, then you might find yourself without a home, living on the streets by the time the economy recovers.
How would you survive that?
Don't worry; we’ve got just the blog for you.