I saw this CBS video the other day that focused on Obama and the economy. One of the things he said strait-out was that he’s working to avoid total economic collapse and a depression. This is not news of course but to hear him dance around the d-word was a bit of an eye opener. It’s one thing to hear our media talk about it and another to hear him say it.
I hope the work he’s are doing today will actually help us avoid more trouble. But I’d argue that we the people shouldn’t wait for the official announcement of a full-blown depression or our own personal financial demise. We should change our lifestyles today, live frugally, and prepare ourselves for the possibility of harder times. Here are some things you can do right now to prepare:
- Always work to improve your personal health.
- Buy bulk dry food (beans, rice, grains) and always have a reserve.
- Learn to cook creatively with beans and rice.
- Learn to bake from scratch.
- Switch from coffee to tea, it’s so much cheaper.
- Plant a victory garden.
- Raise chickens, if your community permits them.
- Downsize everything you can.
- Sell possession you don’t use or need via craigslist, garage sales, and ebay.
- Create additional revenue streams by monetizing hobbies, blogging, etc.
- Prepare a worse case scenario plan (job loss, homelessness, etc).
- Build a tiny house on wheels.
For optimism’s sake lets say we’re not headed for the second great depression. In any event this advice is good advice. By preparing for the possibility of a depression today the worst result is that you’ll be better positioned for the future.
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change that survives.” – Charles Darwin