An economic collapse can range from mild disruption in income to getting laid off from your job or having your business go belly up. In this century we have already seen several economic collapses including the 2008-2009 recession that caused massive disruption in the lives of billions of people.
The recent economic disruption caused by the COVID-19 was another reminder that we need to be prepared for an economic collapse. When an economic collapse does happen, it is usually too late to stock up on essential items. We need to prepare for such an event before it happens. We talk to an expert to get some recommendations on an economic collapse preparation list.
What can cause an economic collapse and how likely is it to happen?
Several reasons can cause an economic collapse. Some of the reasons include a stock market crash, military coup, natural disaster, pandemic, deregulation, terrorist attack, major power breakdown, the collapse of housing prices and sales, and several other reasons. An economic collapse can be global, or it can be local.
The likelihood of an economic collapse is difficult to predict as there are so many reasons that can cause it. No one could have predicted the COVID-19 pandemic, although some experts did warn against such a situation. It is recommended that you “hope for the best, and prepare for the worst”.
Recommendations for food items to stock for an economic collapse preparation
You need to stock the supplies necessary to sustain life. This includes food items that won’t expire or go bad even if stocked over an extended time. It is also recommended to stock food items that have good nutritional value such as protein bars, dried fruit, non-perishable pasteurized milk, canned juices, and more. Quest protein bars are one of the best-selling nutritional bars sold on Amazon. They offer good nutritional value, available in different flavors, and are affordable.
For food items, you should assume a situation where there might be no electricity or gas, so stock up on some food that doesn’t require cooking. Apart from essential food items, you should also stock non-food staples such as toilet paper, shampoos, soap, and such. Regarding stockpiling items, try not to stock more than what you need even if you can afford to, as that can be unfair for the rest of your community.
Is it possible to become self-sufficient for food?
Yes, it is possible to be self-sufficient in food, but it depends on where you live and how much time you invest in growing your food. If you are lucky to have a backyard where you can grow fruits and vegetables, you can become self-sufficient for food.
However, it is recommended that you stock some non-perishable food items in case the food that you grow at home gets damaged or used up.
What about essential tools and medical supplies?
You need to stock essential medical supplies and tools as they can be extremely useful during an economic collapse. For medical supplies, a first aid kit and medications for common health conditions should be stocked. These should include pain relievers, allergy medications, stomach flu medications, and such.
You can easily buy over-the-counter medications from Amazon. You should also stock a multi-vitamin in case your diet during an economic collapse is restricted and doesn’t allow for a complete range of nutrients. Centrum Multi-Vitamin sold on Amazon is a reputed and reliable brand for all types of multi-vitamins.
If you suffer from specific health conditions, talk to your doctor to keep all the relevant medications in stock. For essentials tools that you should have for an economic collapse, you should think about all types of general handyman tools such as saws, hammers, screwdrivers, flashlights, safety glasses, and more.
You can consider buying the 210-piece tool kit by Prostormer available on Amazon. This product comes in a hard case, easy to store.
What about an emergency fund?
Cash is extremely important when it comes to a situation such as an economic collapse. You cannot rely on banking instruments such as online banking, credit cards, ATM cards, and such. With an economic collapse, your banks might limit withdrawal amounts or even freeze bank accounts.
This means you need to have cash saved up in an emergency fund at home. Products sold on Amazon such as the Colcase fireproof bag are an ideal tool to stash some cash and store at a safe place in your house.
What basic skills are required during an economic collapse?
You should learn basic skills such as repairing your car, fixing the toilet, and other services that get expensive to afford in an economic collapse. The modern way of living is highly dependent on using the internet to get instructions on how to complete basic tasks.
In an economic collapse, the internet might be disrupted, the prices can soar, or you might not be able to afford the internet, so equip yourself with basic skills.
It is also a good idea to stock up on some books for reference in case Google fails you. A good reference book to have is the “100 Things Every Homeowner Must Know”. This book is available on Amazon for sale.
How can you protect your family and property?
An economic collapse can make people desperate resulting in intruders that might break into your house. You need to have safety locks for windows and doors. The type of safety locks for windows is going to depend on the type of windows and doors you have at your house.
Amazon is a reliable online retailer to buy safety locks for windows and doors. Ideally, you want window locks that do not permanently lock the windows or doors, allowing you use to them when you need to. Consider buying Defender Security Window Lock if you have slider doors. This product uses a thumbscrew which can be adjusted to lock or unlock the windows.
Economic collapse preparation list
Based on an interview with an expert, here is a checklist of items that you should stock in preparations for economic collapse. Keep in mind that the needs of each individual or family can be different, so don’t restrict yourself to the items on this list.
If you think your particular situation requires more items to be stocked in preparations for an economic collapse, you should do that. The key is to prepare in advance, so you are not surprised if an economic collapse happens.
- Non-perishable food items and non-food staples
- First aid kit and medications
- Valuable handyman tools
- Emergency cash fund
- Reference books
- Safety locks for windows and doors