One aspect of prepping many don’t think about is financial prepping. There are many very common scenarios that can be as personally devastating as an apocalypse. Job loss, Serious medical issues, car repairs, home repairs, or even debt overload. Prepping can be expensive if you take the wrong mindset to it.
Get out of debt
DON’T max out your credit cards to buy your supplies. Your goal should be to get out of debt, have reserve cash and over time buy what you need. Most preppers when they start feel an urge that they have to be finished preparing immediately. So start by getting your finances in order. Have everything on a path to get out of debt while prepping. To help you get out of debt you should read the Dave Ramsey’s “Total Money Make over” to help you figure out how to get out of debt. While Dave Ramsey will promote a 3-6 months cash reserve I would say that’s a good goal overall but there needs to be a balance of durable usable goods and cash reserve. Start with $1000 in reserve, work on getting out of debt while creating a monthly budget to apply to prepping.
Create a Monthly Prepping budget and Prioritize
Think of the monthly budget the same as saving money. Prioritize your prepping on the plans that you need first. For me the first plan for my prep is a bug out. In the case of a crisis I need to be ready to get out quick as I live in an urban environment where I would be competing with a lot of people over few resources. Where things could get violent and chaotic quickly. So getting out of town is most important for me. So I focus on completing a self sustainment bug out bag, along with firearms and security prepping are my first goal. Following a self sustainment/emergancy bag I start working on homestead prepping: Food, water, and essentials for up to 3-6 months. So for scenarios where a bug out won’t make sense I have some supplies to bug in for a while.
Think about your prep as the number of days forward you can live. If you have enough supplies for 3 days, work on getting to a weeks worth of survival. Once you have enough for a week, work towards 2 weeks. And keep working outward. This will help you guide your budget to do the most for you. It’s a long term prepping strategy.
Buy Property and Own it out right.
If you don’t have a house and property you need to put that into your list. Ideally somewhere with plenty of land to garden and gets you away from large numbers of people. Make sure you have water and trees on your property. If you own it out right the deed will prove without a doubt that it’s yours. There will be no questions about what to do with a mortgage when there is no financial system, jobs or money becomes useless. what happens with bank owned property, when the financial system crashes and the bank goes away? Also it will reduce your monthly bills as you will only owe property tax yearly. This makes sustainment possible.
Here is your action list
- Save $1000 as a quick reserve for most issues.
- Get out of debt
- Setup a monthly budget to apply towards prepping, while building up your reserves.
- Prioritize your preps
- Work on increasing the days forward you can survive
- Own land free and clear