How would you prepare for a financial depression?

**frugal-fannie** · 02-21-2011, 12:24 PM

I thought this needed bumped up. With the dollar possibly not being the worlds currency there is a large threat of hyperinflation here in the US. I was surprised to learn that at least one foreign country Amsterdam (people were already not accepting the dollar in some areas. Besides the higher food prices coming due to increased fuel prices. What are you all doing in preparation.

**nodmicks** · 02-22-2011, 06:51 PM

Frugal fannie I have been following the dollar the last few months and it is a bit frightening.

**Daisygirl** · 02-22-2011, 07:19 PM

They are no longer accepting the US dollar in many places here in Canada as well.

My preperations:

Stocking up on food
Stocking up on HBAs
Cutting out all "frivolous" spending
Moving to a less expensive place
Plannning a vegetable garden
Joining a food co-op again

**SuzanneTx** · 02-28-2011, 03:41 PM

I would love to join a food coop but our cheapest "package" here is 800.00 for this growing season.

On another note, does anyone have the potato soup mix ingredient list? I thought I had it bookmarked and have even searched and I can't find it.

Thanks!
Suzanne

**frugal-fannie** · 05-13-2011, 07:15 PM

I have been selling off some of my gold to pay up debt. I am still holding gold and silver coins and if I see a good deal on jewelry I still snap it up- bought a beautiful Tanzanite and diamond ring for $200 from the pawn shop. I also have begun gardening some.

**Spirit Deer** · 05-14-2011, 10:09 PM

I'm wondering why people who say they would learn to do a while bunch of things they don't do now aren't doing it now. It's hard to learn a whole bunch of new stuff at once, especially if you're suddenly without resources to take a class, buy supplies, build equipment, etc. Why wait?

**frugal-fannie** · 05-15-2011, 01:28 AM

Originally Posted by Spirit Deer

I'm wondering why people who say they would learn to do a while bunch of things they don't do now aren't doing it now. It's hard to learn a whole bunch of new stuff at once, especially if you're suddenly without resources to take a class, buy supplies, build equipment, etc. Why wait?

Good point. Also when you have a perceived emergency you cannot get items, i still need to buy radioactive iodine- could not locate any during the Japan episode.

**NikoSan999** · 05-16-2011, 12:27 AM

Originally Posted by frugal-fannie

i still need to buy radioactive iodine- could not locate any during the Japan episode.

What do you use the iodine for? I know I've read it but honestly can't remember?

**Jamielane** · 05-16-2011, 10:48 AM

The iodine tablets protect the thyroid from cancer due to the radioactivity.

**NicJean** · 05-16-2011, 02:38 PM

Stock up on long term food storage. Stock up on hygiene items, soaps, medicine. Make sure our family has rugged clothing. Keep up with stocking barter-able (not sure if it's a word) stuff : including alcohol, cigarrettes, etc. Continue self-reliance learning - books, practice, practice, practice! Make plans, then plans b though z! Prayer helps, too.

**NikoSan999** · 05-30-2011, 09:26 AM

I've already posted on this thread but due to possible financial circumstances reposting again.

I am taking stock of the stockpile and renewing efforts for making SURE there is at least a 6 to 8 month supply of everything possible. Especially the more expensive items...coffee, TP, creamer, meat, frozen veggies etc.

I'm making sure that we have some some money put away every week to add to emergency fund which would be our "living fund" for day to day. Hopefully enough for 6 to 8 months worth of such until hubby could get early social security started coming in. No small feat believe me.

Getting things we may possibly need if this were to happen. Clothes, any household items etc.

**Daisygirl** · 05-30-2011, 08:12 PM

Something I have been doing lately is purchasing gift cards....I have some from Wal-Mart, the grocery store, the craft store. They are not huge amounts - $10-20....but they will sure come in handy if there is no money. I've also asked anyone who wonders what to buy me for a gift (not that people are beating down the door to buy me presents) to get me a Walmart gift card. I really am not a fan of Walmart ethically speaking, but you can get anything you might need there: food, HBAs, home items.... I figure it's the handiest place to get these from. These would also come in handy in a pinch to purchase a gift for someone or to just slip into a card.

Niko - praying for you.

**NikoSan999** · 05-30-2011, 08:35 PM

Thank you Daisy...I appreciate it. One day I'll post about what's been going on the last year after we filed. Especially the last few months...Not good. Appointment with another ( new type ) attorney tomorrow morning at 9:30. It's far from over. Have a feeling it's just started. You'd think bankruptcy would be the end of it.

The gift cards are a good idea. I started asking for them in 2008 when this started. Walmart first choice. I have several now. Right...they can be used for anythng there.

Recently Publix had a coupon for $10 off a $50 gas card from a couple gas stations with a $50 purchase. Their gas is a couple cents higher but still $10 is a pretty good size savings since $50 dosen't fill up anyway. Be about 2 1/2 gallons free. Close. And whichever case scenario ( WW3 or loss of the business ) it's $50 in gas already paid for. Guess that's preparing....hadn't thought of that...the gift/gas cards..may pay to do a couple more if the deal comes along.

Just hope if this dosen't go our way that we have enough time to get the trailer finished...get the best living expenses amount put away we can and have a large enough stockpile to tide us over until either jobs ( don't think that will happen here ) or Social Security for him early. There are still no jobs. Me, if I walk across a parking lot by the time I hit the door I have to stop my hips are in so much pain. So we'll see...hope for the best ... prepare for the worst.

**Spirit Deer** · 05-30-2011, 08:46 PM

I'm trying to understand the gift cards. Gifts cards can only be spent in one place. If the business where they can be spent fails, or if they change the rules about the cards, they may be worthless. If you have money instead, it can be spent anywhere for anything. It just seems to me cash that can be spent anywhere for anything you need is a better deal than a card only good for one place.

If the dollar fails, why would the gift cards be worth anything, since they represent dollars?

Just trying to understand.