We hear a lot in the media about economic recovery. No news story that mentions the economy seems complete without at least one mention of the alleged economic recovery. They’ll say things are bad, and that’s going to slow down the recovery. Or they’ll say things are bad, but not as bad as experts thought they’d be, so that means we’re in a recovery.
Maybe some people are beginning to free up their funds a bit, but I wouldn’t say it’s a recovery. We may see a lot worse before things ever truly get better. And who knows how many years it will be before that happens? To look on the darker side, what if it never happens?
Don’t let talk of recovery fool you into thinking you can go back to old spending habits. If you’re in debt, as so many are, keep working at getting out of debt.
Someone has said debt was unheard of with our ancestors. I disagree. Many people went into debt, but it was in relation to their businesses or farms. Sometimes they could pay it back. Sometimes they couldn’t. They lost their shirts and had to start over. Famous people in history declared bankruptcy.
The point is that past indebtedness wasn’t the unrestrained indebtedness we’ve seen in the more recent past. Anyone who didn’t practice self discipline with his money was seen as a fool. A man who borrowed to buy machinery for his shop didn’t put his lunch bill on credit. He knew debt was enslavement and didn’t take on any more of it than absolutely necessary.
If you have discretionary funds at all, you’d be wise to put them toward storage food and survival supplies. Make room in your budget for those supplies, if you haven’t already done so.
Sure, you’d expect me to say that because I’m selling those things here. But even if I weren’t, I think it’s a good idea.
I’ve said it before, but our grandparents and great grandparents had root cellars full of canned goods they raised and canned themselves.
They knew how precarious life’s circumstances can be. A hail storm could wipe out crops and pose a major setback for the year. The kids would have to get hand-me-down shoes from their cousins in the fall. That means things would be lean for the shoe salesman in town who didn’t think he’d be hurt by the storm.
On a clear day, who thinks of hail storms? Those who have been through one or who have seen what it did to a neighbor.
That should be our survival mentality. The media tells us it’s a clear day, and the sun will be out in full force this afternoon. We’re in economic recovery. But the wise prepper knows the hail storm could come at any time and gets ready.
I think financial counselor Dave Ramsey gives good advice that applies here. He says to live like no one else today so you can live like no one else tomorrow.