There are many unknowns in life, but there are also many other things that we can count on occurring.
One is financial uncertainty.
Last Friday, after the U.K. voted to leave the EU, the financial markets took a nosedive, and many people lost money. How long and how vast the effects will be are unknown.
But financial uncertainty is…well…a certainty.
Are you prepared for it?
Financial preparedness is a very important part of prepping, and there is much we can do, regardless of our circumstances, to prepare for it.
Here are some suggestions:
- Avoid debt as much as possible. (Read here for a more in-depth discussion about gambling with debt.)
- Don’t spend more than you make. (I know…it may be hard, but it’s crucial.)
- Build a savings. (Start small if you have to…just start.)
- Have some cash on hand. (ATM’s do not always work.)
- If you invest, do so wisely. (Need I say more?)
- Pay tithing/Be charitable. (Having this kind of mindset can work wonders in your life.)
- Practice other self-reliance skills such as food production, food and consumable storage, canning, the repairing of household items, etc. (They will definitely help with your bottom line in the long run. Besides that, you will have the more important benefits of being prepared for whatever may come your way!)
There is much we can do to help ourselves be more financially prepared. Financial difficulties can range from personal financial hardship to full-blown economic meltdowns. Both can be personally devastating. Financial disasters these days are as predictable as natural ones. When they will happen is anyone’s guess, but be assured, (just like natural disasters,) they can and do happen.
Again, are you prepared for it?