Update on how would you prepare for a financial depression?
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    Default Update on how would you prepare for a financial depression?

    I saw the original thread started in 2008 (most of the post were from 2008) so I was wondering about those of you yhat had posted on that thread where are you now?
    Did you get all the things done on your list or is there a "done"?
    Have you learned lessons along the way and if so what have you learned?
    Did you sell your homes if that was your plan?
    Did you get you pantries stocked ? ( I realize that we all eat everyday so that would be an ongoing process)
    Did you stock anything that you found out that you would not need or use didn't liked or regreted?
    How did your gardens do? Did you can or preserve a lot of food?
    What is the best thing that you have learned in the last couple of years?
    I am just looking for information from some of you seasoned prepared frugalist. Thanks for sharing as it will help me in my quest to do what is best for my family.

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    jas
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    I don't certainly have down to a science yet that is for sure. I have learned what we use and what will go to waste. I don't store a lot of junk food, mostly ingredients to make stuff.

    flour, sugar oils, cocoa, spices , vinegars, honey , wheat, rice, ect. Don't have nearly what I would like to have.

    I have been eating down our frozen meats just to make sure they don't go bad with freezer burn. And at this time I am trying not to shop for a lot. So soon I will have to stock that back up.

    We have kind of changed our eating habits along the way. More fresh foods that can't be stored for long term.

    I have dabbled in dehyrating. Some things are a success, some not so much. Still learning.

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    Registered User pollypurebred39's Avatar
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    I saw the original thread started in 2008 (most of the post were from 2008) so I was wondering about those of you yhat had posted on that thread where are you now?

    My DH is now gainfully employed after almost 3 years of being under employed. He had to take a pay cut, but at least he finally has some work, so many in his field will never get their old jobs back.

    Did you get all the things done on your list or is there a "done"?


    To tell you the truth, I thought we were done BEFORE we lost our income, but I learned that enough is never enough. We had a major stockpile of food, a large EF, quite a bit in savings, a several investments, and our retirement. All is long gone, except our retirement and that was literally days away on the chopping block before DH landed a position at his new company



    Have you learned lessons along the way and if so what have you learned?

    Well, that enough is never enough and that it's a mistake to buy a home that is a major fixer upper. If things go bad your stuck in a house that requires way too much care for a family that is struggling to keep from drowning. So now that we have that golden nugget of wisdom, we know that it is imperative to fix our home as quickly as the money allows.

    And the second thing is, never carry debt if you can at all help it. We never ever thought that having the medical debt would have been like having a millstone wrapped around our necks. But of course, we never envisioned being without a real income for almost 3 years. We always prepared for layoffs, such is the nature of construction, but this was far more then any nightmare we could have ever dreamt.


    Did you sell your homes if that was your plan?

    No, thank God. If we had not have been able to hold on (and when our retirement was next on the chopping block and no job prospects on the horizon it was looking increasingly likely that we would have to sell our home) We would have really lost our shirt and would most likely barring a miracle, would have never recovered.

    Did you get you pantries stocked ? ( I realize that we all eat everyday so that would be an ongoing process)

    Yes, but it did not sustain us for as long as we needed it to. But then, who would have ever dreamt that it would have needed to last us almost 3 years. Thinking that the 10 year stock that some people do here just may not be excessive at all

    Did you stock anything that you found out that you would not need or use didn't liked or regreted?


    I know there was certain things, but I just can't recall now. I'd say that we were woefully short on protein, and too heavy on carbs

    How did your gardens do? Did you can or preserve a lot of food?


    Our garden was truly a lifesaver. After a while our stockpile no longer had anything left but starches, having a garden kept us healthy. We froze a lot of food, still do.

    What is the best thing that you have learned in the last couple of years?

    Never be complacent about our future, and that God is merciful!

    I am just looking for information from some of you seasoned prepared frugalist. Thanks for sharing as it will help me in my quest to do what is best for my family.


    Wishing you the very best today and in the future

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    jas
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    wonderful post polly. thanks.

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    I don't recall posting in the old thread, but a couple of changes happened here this past year.

    *We paid $50,000 of debt off and we (not the companies) canceled our credit cards. We don't have any car payments either. I drive an almost 10 year old truck with 145,000 miles on it. I'll drive it until it falls totally apart. I don't miss the $500.00 a month payments. Dh drives a 4 year old truck...paid off.

    I've been working on rebuilding my stockpile, but only with things I know we will actually use.

    I didn't have a garden this year due to us being so busy, but we're preparing for next year's already and I'm stocked on canning jars.

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    Registered User Booklover's Avatar
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    This is a great thread! I'm bookmarking it so I can see what others have to say. I really want to learn from this. Polly, loved your answer. Really gave me pause for thought. There are a lot of gems in your post.

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    jas
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    Quote Originally Posted by Booklover View Post
    This is a great thread! I'm bookmarking it so I can see what others have to say. I really want to learn from this. Polly, loved your answer. Really gave me pause for thought. There are a lot of gems in your post.
    there sure are!

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    Registered User Imarachne's Avatar
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    Still trying to sort out everything--this thread is a definite keeper !

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    What a great thread! I can't really think of the things I said back then, I lost that user name. I can say that I'm living much differently or trying to nowadays. Especially since I'm going to be a single mom of 5 by choice.

    I'm stocking up my pantry. I visit the goodwill much more nowadays and make sure I stock up on a lot of stuff. My cousin and I are talking about renting a larger house together and just splitting it. Right now we are in a townhouse and with the new baby on the way I'm going to need more room.

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    I've lived the same way I do now for years ( 30) LOL I live within my means. Always have, always will.
    I've never gotten caught up in the "must haves" and the " keeping up with friends" crap that so many seemed have done.
    Nothing has changed with us for years except that hubby just kept getting better and better jobs with benefits.He just got another raise and a new position a couple of months ago.
    I've always had a stocked pantry.
    This years garden was more of an experimental garden ( seeing what will grow here and what won't). But it'll be back to the real gardening next year as my stockpile of canned foods from the garden will be needing resupplied.
    We don't waste our money on cruises or trips. We use our money to build up our 5 acres. Like new fencing when we can or more raised beds for the garden or fruit trees and berry bushes.
    We have a budget and we stick to it. It's not that hard like some people make it out to be.
    If we can get things second hand we do. I use coupons to shop and we compare prices before we buy.
    Being "frugal" isn't something that you do and then it's "over".
    It's a lifestyle. And you have to be willing to live that lifestyle even when all your friends and your family aren't.
    It takes comitment and work. It's not a "fad" imo.

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    Registered User Marie78's Avatar
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    My family and I are living in a financial depression this year. We are a family of 4 trying to survive and thrive on my husband's $20,000 a year salary. This is his last year finishing his Doctorate Degree and we decided I would quit my part time job to stay home with our children full time. We are budgeting and conserving the small savings that we have. I think it's helped that we developed a frugal lifestyle a few years ago when I was unemployed. We know what we need to do and we just need to stick to it. This sight helps a lot and I'll be visiting here often for motivation and support .

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    Registered User Marie78's Avatar
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    I just went back and read my original post from April 2008 and I'm proud of myself. So much has happened in 1 1/2 years. We paid off our debt, eloped that October 2008, so we wouldn't have to pay the high costs of a traditional wedding. Started our family in the fall 2008 and have still remained debt free. We knew this year would be our toughest year yet, so we did put savings aside for it. Life is so full of ups and downs. I think the trick is to just spend wisely, make the best decisions for your family, and really adopt a frugal lifestyle for life, not just for the tough times. We don't really feel deprived this year, because we have been saving money and not buying many things (by choice) for years now.

    If my family and friends knew we were living on $20,000 this year they would probably wonder how it's possible. I'd have to direct them to this site for guidance, because it took years to prepare a way of life (and new outlook) that can survive on one income.

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    We will move from a 2 br apartment to a 4br house with large garden in a few months. It's a fixer upper, but the only way we can afford a house this close to my job, with 4br and a garden. I say 'fixer upper', but a good clean will actually be good enough for us to move in. We would just prefer to have new wallpaper, new carpets, insulated attic, glass wall at the back, bathroom upstairs, central heating and a fitted kitchen.

    The garden is completely black earth. Until last year it was used as veggie plot, and I intend to do a veggie plot/flower garden/play garden mixture.

    I'm so looking forward to harvesting my own fruit and veg again! And to stockpiling, freezing, canning! We will finally have enough space to do all that!

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    We don't have a lot of debt, just the house & DD's medical bill (yippee, have them all paid off except one & that will be paid off in less than a year). But with the price of groceries going up constantly, it's still hard to make ends meet sometimes.

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    We also are a family of four living on less that $20,000 a year. I am thankful for our huge gardens, apple trees, blueberry bushes, etc. I wish we had more.

    I didn't post on the 2008 thread either, but thinking back on what we have done since then....DH & DS set up a wood-fired water pre-heater in the basement, we've increased our vegetable garden space, we planted 75 strawberry plants and 25 asparagus plants last spring. I can't think of anything else right now. Just more of the same..cutting firewood, putting up food, being frugal in all areas, etc.

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