An economic collapse is a reality. We are currently getting over one caused by the Coronavirus pandemic that paralyzed the country.
Such hard times usually catch people unaware, and only a few survive. But you can go through it if you are prepared and do everything right.
The economic collapse comes without warning. In many cases, we are caught off-guard and forced to persevere in humiliating conditions.
However, if you are prepared for uncertainties, then you can survive its eventuality.
You should never be moved by economic collapse. We will talk about 7 things you can stockpile and offer advice to boldly face the situation. Keep reading to equip yourself with the details!
- What Will Happen During An Economic Collapse?
- 7 Things To Stockpile For Economic Collapse
- 8 Advice to Deal for Economic Collapse
- Some Thoughts
What Will Happen During An Economic Collapse?
An economic crisis can be described as the breakdown of a national, regional, or territorial economy, often followed by a crisis.
It can occur at the beginning of an economic recession, depression, or contraction and lasts many years.
An economic collapse can happen suddenly due to an anticipated factor such as a pandemic, or it can start gradually with signs. Whatever the case, you need to work your way through it.
Economic collapse is characterized by rising interest rates, sovereign debt crisis, local currency crisis, and global currency crisis.
Banks would close, demand for food and other necessities would be higher than the supply. If the local government is affected, expect a disruption in water supply and electricity.
Economic collapse happens once in a while, and you should be ready for it at any time it occurs.
7 Things To Stockpile For Economic Collapse
The best way to survive an economic collapse is by stockpiling your essentials and learning how to make some of them.
Stockpiling will ensure you have a steady supply of food, water, shelter, and other needs. Even if you cannot stock everything, you should at least have means of accessing them.
There are 7 things to stockpile for an economic collapse, which include the following:
- Stockpile the necessities to sustain life
- Survival equipment
- Valuable tools
- Keep cash
- Keep your passport current
- Store precious metals
Most people can see themselves through any crisis if they have the listed items, so do you. The trick is to start stockpiling on time and keep the right quantity for you and your family.
Stockpile The Necessities To Sustain Life
Life is sustained by food and water. Without these two, your body will quickly wear out and eventually die.
Apart from food, you also need to keep your hygiene to prevent catching deadly diseases that wait to take advantage of the situation.
Also, you should stock up on medication necessities just in case health services are inaccessible.
Foods Long Shelf Life
An economic collapse can take as long as several years. It’s hard to predict its end. So, you need to stockpile foods that can stay fresh for that long.
Some foods can survive the entire period without change in texture and flavor, but some will be affected.
Cereals, such as rice, beans, maize, etc., have an indefinite shelf life if they are kept pest-free. Stockpile as much as you can and find ways to control pests, including weevils.
These are your greatest enemy that can destroy the entire stock if precautions are not taken.
No cereals such as fruits, milk, vegetables, and meat can be dried to extend their shelf life. Some of them can be canned or frozen if you are sure of electricity throughout the crisis time.
However, expect the degradation. The taste, texture, and scent may be altered through the storage period.
It may be challenging to stockpile everyday food. So, you can consider producing instead of stocking.
You can grow your vegetables, make soaps, sugar, paste, toilet paper, and many others.
Running out of everyday food and personal items can make your life miserable. Make a list of all the foods that you eat and stockpile as much as you can.
However, you should never stock foods with short shelf life if you don’t have a preservation plan.
Stock Up On Personal Items
If you can anticipate a crisis, you have time to stock up all the personal items you will need throughout the process. If you are not an off-gridder, just walk to a retail shop to buy the following:
- insect repellent
- hygiene products
- feminine products, etc.
During an economic crisis, we expect that these personal items will be scarce. And even if you can access them, there will be price inflation. Don’t wait until it’s too late.
Fortunately, the listed personal items and many others have a long shelf life. You can stock as many as you can without worrying about spoilage.
All you should do is store them properly in a cool, dry place.
Medication and First Aid Supplies
Health facilities can be overwhelmed or understocked with drugs during an economic crisis. We have just experienced that during the COVID-19 pandemic, and we all know how frustrating it was.
Health officials may also lack transport means to take them to facilities to offer services. Emergency services can be halted as well.
Having a well-equipped first aid kit will help you respond to emergencies around your home appropriately.
You can stock painkillers such as aspirin tablets or syrups for children and many other drugs. Having alcohol can also help you to disinfect surfaces and wounds.
Better still, you can learn about herbal medication. Grow these herbs in your homestead if you are living off the grid.
An economic collapse can lead to security breaches. Hooliganism and intrusion into private property can be on the rise as people are fighting for their lives.
So, you need to equip yourself with survival tools and equipment.
Think of communication devices such as short-wave radios, mobile phones, and two-way radios that can help you be informed and all for help.
Buy watches that don’t use batteries, energy-saving LED flashlights, a map and compass, and a bicycle if necessary. These can help you navigate through the wilderness.
Valuable tools include self-defense tools, handyman tools, garden tools, and kitchen tools.
These will help you to be self-reliant on your skills to defend the family, cook food, and make necessary repairs around your home.
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Self Defense Tool
You can consider self-defense tools and equipment. Buy a shotgun and ensure you are licensed to possess it according to the state laws.
You can also consider arrow and bow, pepper sprays, spears, knives, and any other tools you can use to defend yourself or fight an assailant.
Every defense tool in your stock should be in good condition and ready to use. If it’s a gun, ensure you have enough ammo and know how to use your tool. Don’t just stockpile for the sake of it.
Garden tools are essential for food production. You will be depending on yourself to grow vegetables and keep livestock to supplement your stock.
Hunting and foraging for foods such as mushrooms are also an option.
A good axe, a few flints, knives for hunting, cutting, bow and arrows, and a fishing pole are some of the survival tools you should stockpile.
You may not need a couple of each item, but just stock as you need. And what we have listed here is not all you need. Buy garden tools and equipment according to your specific requirements.
During an economic collapse, you may not access some services such as plumbing, electrical fitting, masonry, carpentry, etc.
That explains the need to learn the basic skills and become a handyman. And you cannot be that if you don’t have your tools.
Essential tools for every handyman include the following:
- Claw Hammer
- Tape Measure
- Utility Knife
- Cordless Power Tool Set
- Pipe wrench
- Wood saw
- Wire Stripper Pliers
- Smart Service Handyman Software, etc.
These tools are what you need to carry repairs on various systems. You will not need to call a plumber when your sink blocks or when there is a leakage. Instead, you can handle it.
Similarly, you should handle electrical faults, furniture repairs, etc.
If you have never been good in the kitchen, it’s time to learn a few recipes that can help you survive the economic collapse crisis. Stock everything you need for cooking. Kitchen tools include the following:
- Cutting Board
- Large Pot
- Non-stick Pan
- Glass Bowls
- Cooking Utensils
- Measuring spoons
- Measuring cups
- Wooden spoons
- Fish turner
- Tongs, etc.
These kitchen tools will make your life in the kitchen easy. Having everything in place will reduce your cooking time.
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You cannot stockpile everything, especially the perishable ones. You also need a way of responding to an emergency.
So, don’t forget that you may need some cash to access some services and buy other things in the future.
During an economic collapse, banks may be closed. For that reason, consider withdrawing your savings and have them in cash.
It will help you when you need to access services and buy some items or just to respond to emergencies.
Keep your passport up-to-date
No one can be certain of what economic collapse can result in. Sometimes, you may be forced to go back to your country if you were in a foreign land or flee from your country.
To make it easier for you to travel, consider updating your passport. Don’t wait until it’s too late because such services can be disrupted.
Store Precious metal
The four primary precious metals include gold, silver, platinum, and palladium.
You can stockpile these and many others to bail you out in the future or help you get back to normalcy after the crisis. By selling them, you will have enough cash to kickstart your life.
Precious metals can withstand long periods of economic uncertainty, unlike currency. They can act as a hedge against moments of unreliability in the future.
Gold, for instance, is a valuable asset to have, even during economic downturns.
Stockpiling seeds will ensure continuous cultivation even if the economic collapse extends to years.
Some crops and vegetables don’t produce seeds or require a controlled environment. You will need to buy these seeds in the nearby store outlet.
During an economic collapse, the price inflation due to scarcity can make the seed too expensive for many people to afford.
Use the precious time you have now to stockpile all seeds you plan to grow.
8 Advice to Deal for Economic Collapse
Dealing with an economic recession is not all that easy. Some people can succumb to it, but some tips can help you go through the hard times. These include the following:
- Keep your job as long as possible and find ways to increase your income
- Get out of debt asap
- Learn to live off the grid
- Build relationships
- Prepare to share/learn from others
- Learn how to protect yourself and your family
- Save: do not overspend your budget
- Know how to barter
The listed tips can help you overcome economic recession without any problems. Let’s get into details.
Keep Your Job As Long As Possible And Find Ways To Increase Your Income
The worst thing that can ever happen to you during an economic recession is to lose your job. Many people have found themselves jobless, and that’s a reality you should be able to face.
Keep your job if you can and look for other sources of income. It will give you a sense of security just in case you lose the main job.
You can start a business or other part-time jobs to increase your income. The more you earn, the faster you can overcome the effects of economic recession.
Get Out Of Debt ASAP
Having debts is not something negative. Many people need a loan of some sort to kickstart their lives.
But it becomes a monster if you struggle to survive and repay, especially if the people you owe are on your neck.
Try to remain debt-free as much as you can. You will be better off if you can get out of debt before an economic downturn.
It will increase your financial security and remain worry-free about debt weighing on you if the unexpected happens.
Learn To Live Off The Grid
Living off the grid is the best action during an economic downturn. It simply means depending on yourself for everything.
You will no longer have to rely on utility services and other people for survival. What is it like living off the grid?
Grow Your Own Food
When living off the grid, you can grow your own foods. Have a vegetable garden and grow cereals. Even during a drought, you can still produce all year round if you can irrigate your garden.
Also, think of keeping livestock. Backyard chicken, rabbits, pigs, goats, cattle, sheep, and many other animals can supplement your food sources.
Growing your own food is ideal if you don’t have enough money to stockpile all foods or when the economic downturn takes longer than you anticipated.
Create Your Own Electricity
Living in the countryside can make utility services inaccessible. As a result, you should resort to making your own electricity.
Many off-gridders have survived the hard times by using solar energy and a battery bank to power their homes.
You may also consider mini hydroelectric power or wind power but not so common because of the capital required.
Start A Mini Farm
Apart from growing foods for your family’s needs, you can start a small farm, where you grow crops, herbs, or vegetables to sell.
Your mini farm can be an external source of income that you need to buy personal items and other necessities.
Learn Basic Skills
You can learn carpentry, fishing, hunting, weaving, baking, farming, and other skills. Some people also acquire herbal medication skills or become midwives.
Take your time to learn a few of these practical skills as necessary.
An economic downturn can be associated with loneliness which causes depression. You just need a shoulder to lean on in such a situation. At least, you will be comforted.
That’s the reason you need to build healthy relationships with people around you.
You can seek and find the help you need when you are at your lowest from people you relate well with. They can’t turn their back on you if you have been together and moving along quite well.
An economic collapse can be a heavy yoke to pull alone, especially if you have a personal financial crisis.
Sharing is caring. Some people succumb to economic recession because they are too shy to ask for help from other people.
That may be because of your bad reputation or relationship you had with others.
It’s time to learn how to share. Selfishness will only ruin you because no one will be willing to share with you. By sharing, you can have what you don’t and give out your excess stock.
You should also check what others are doing to get through the crisis and learn from them. Borrow their ideas and implement them. If possible, you can ask them to help you do it.
Learn How to Protect Yourself and Your Family
The country’s security forces can be in a bad state during an economic collapse. That means you will depend on yourself for safety.
You ideally need to learn how to enhance your home security, defend yourself, and live a healthy life.
Your Home Security
Prevent intruders from breaking into your home by enhancing security. You can fence your property with barbed wires and live fences that will keep them at bay.
You can also consider an electric fence or wall fence if you can afford it.
Also, consider setting traps or keeping security dogs to scare intruders. Having a safe hidden room on your property is also a security measure. It can be in the basement or any other chosen location.
Learn Self-defense Skills
Fighting back is the best form of defense. Make an effort to learn some self-defense skills that your assailants never expected.
Know how to use the defense tools mentioned in the previous sections so that you can launch a surprise attack. An ambush on your enemy will give you an advantage.
However, you should also know when to run for your life. Don’t fight a losing battle if you are overwhelmed. Your secret room will come in handy.
Learn to Eat Healthy and Exercise Right
An economic crisis can make you depend on a particular source of food.
Since cereals are the most resilient, many people eat these high-carb foods in excess, an unhealthy habit. Learn all about a healthy diet and stick to it.
Also, doing regular exercise can help you live a healthy life. Create a schedule and remain faithful to it.
Save: Do Not Overspend Your Budget
Overspending is a vice that many people are battling with. If you don’t know how to control your finances, things can go wrong for you during a crisis.
Take your time to create a budget to guide your expenditure. Spend your money on the necessary items only and save as much as you can.
Know How To Barter
Bartering is the trading of goods and services for another good or service. There’s no currency involved, and that’s the way to go during an economic crisis.
You may not have any job, meaning you can’t have cash with you. Also, the banks may not be operational. So, you cannot withdraw your savings.
Lastly, you may have an excess of one item but need another that you don’t have. These situations make barter trade very essential.
You can trade your skills or goods for another. However, many people are not familiar with this process. Consider using the following tips:
- Set your price and stick with it
- Know your product and its value
- Know when to walk away if the deal is not favorable
- Trade with smaller shops to gain the experience
- Sell in bulk to enjoy offers from other traders who are willing to dispose of their goods.
- Don’t push it if the other trader is not willing to meet your demands
Economic collapse is associated with hard times. Many people barely survive, especially if they are caught off-guard.
With the information presented in this article, we hope you now know what to do if you are facing such challenges.
We have given details of the things you need to stockpile and tips on surviving the economic downturn.
Thank you for taking your time to read this article at the Em Offgrid. We invite you to explore the entire site for related articles and share the information with your friends.