Economy, its a word crossing more and more people’s minds daily. I think it should. I have spent a few hours with my financial advisor over the past two weeks and he has nothing good to say except look at the past for a preview of whats to come. Although I will tell him that we have never been this bad off before. I will tell you that Americans have gotten far to comfortable with being spoon fed. No-one wants to have any hardship at any time during their lives. Everyone wants to be refunded for the cup of coffee they dumped in the floor. They don’t wanna work or earn anything. Now we are going to pay and pay dearly for our stupidity.
I had a long discussion with some of my peers and superiors today. Economy, ofcourse was the topic of discussion and what the conversation turned to, surprised me. So American style banking is currently collapsing. What would you do if your debit and credit cards were temporarily disabled, let’s say for 60 days. Could you survive? If so, what preparations could you take care of now to make things easier during a period of transition?
How about never allowing your gas tank to drop below half a tank over the next few months or a year; half is the new empty. How about a few extra cans of food in the kitchen. I would say just a couple days worthof food until you can afford to wait the hours in line to get more money. You can survive a really long time on a few cans of food. The US Military has spent a lot of money teaching me how to survive off very little. Believe me, if it comes down to it, it doesn’t take much. And last on my list of staples you should think of, pull out some extra cash from your emergency fund (you have one right??). I would say, two months worth of survival cash, gas and food. Keep it in your fire box at home for the next year, it’s not like it’s going to earn any interest anyway.
What do you think will happen in this country if the economy totally fails? I know. It will involve me and a whole bunch of my buddies in body armor. We will be fighting a whole new war…….. against you.
So I have focused myself on change and preparation for hard times. I have saved and invested a good sum of my money over the past decade and I would like to know that it has brought with it some peace of mind…… ????? I do not want to be caught with my pants down.
You’re right. I don’t know what I would do, and I certainly don’t have a massive savings account to help me should times get tougher. Sigh.
I don’t think massive is necessary, but I would start putting some money aside for those rainy days ahead. On the cash thing, just pull out $500. That should get you thru the grocery store and the gas pump once or twice. The only thing that concerns me is the larger monthly payments, house, car.. What if my bank fails next and the federal government can’t react fast enough. …?