An economic collapse happens when there is a breakdown of the regional or global economy. It can result in disruption of the supply chain for all types of products. The fear of an economic collapse often makes people stockpile daily essentials making the situation worse.
An economic collapse can also cause serious disruption to your income, electricity supply, access to banking systems, government subsidies, and more. There is no reliable method to predict when an economic collapse will happen or how long it will last. The only thing you can do is to be prepared for such a situation.
25 beginner survival tips for an economic collapse prepper:
1. Keep an Emergency Fund:
It is possible that during an economic collapse, you will have issues withdrawing money from your bank. You need to start building an emergency fund so that even if you don’t have access to your funds in a bank, any economic collapse prepper needs to have enough cash at home to survive for a while.
2. Minimize Debt:
If you are not able to pay your debt during an economic collapse, you might incur late payment fees and interest on top of the principal amount. Minimizing debt helps you reduce your financial risk during an economic collapse.
3. Create a Survival Garden:
A survival garden at home allows you to grow crops to meet your daily food requirements. This will be useful in case you have restricted access to cash or food stores.
Read Our Guide to Establishing the Perfect Survival Garden Here
4. Secure the Door and Windows:
An economic collapse can push people to become desperate increasing home invasion and vandalism. Install high-quality door and window locks or Home Security Sensors available on Amazon to keep you safe.
Purchase this Home Security Sensor on Amazon
5. Learn First Aid:
Not only do you need to keep a first aid kit at home, but you should learn basic first aid. Being able to perform first aid for yourself or your family can be essential to your survival during an economic collapse.
6. Keep Extra Gas For the Car:
You might always have a chance to keep a full tank of gas, but you should at least keep an extra canister of petrol or diesel for your car at home.
7. Hiding Cash at Home:
We have established the importance of keeping cash at home, but it is also important to keep the cash safe. Invest in a high-quality safe such as the Amazon Basic Home Security Safe.
Purchase a High-Security Safe Now
8. Know Your Neighbors:
You don’t have to be best buddies with your neighbors but knowing them well enough to seek their help during a tough situation can be useful.
9. Store Some Powerless Entertainment:
Almost all of our entertainment comes from power-sourced devices such as television, tablets, phones, etc. Keep some books, magazines, board games, and other powerless sources of entertainment at home.
10. Store High Nutritional Value Foods:
It can be fun to binge on chips and crackers but they might not be enough for a survivalist situation. Stock on high nutritional value foods items such as dried beans, frozen poultry, or frozen fruits.
Read Our Guide to Food Prepping Basics For A SHTF Situation
11. Stock Multi-Purpose Tools:
Multipurpose tools such as flashlights can be handy during an economic collapse. Consider buying a toolset from a reputed brand such as Dekopro 168 Piece Toolset. It contains wrenches, ratchets, a hammer, pliers, and other tools.
12. Learn to Cook Without Power:
As an economic collapse prepper, you need to learn how to cook with power as power outages can happen during an economic collapse. Whether you have to invest in a solar cooker, learn how to cook in an open fire, you need to prepare for being able to cook without power.
Purchase a Mini Portable Solar Oven
13. Keep Up With Major House Repairs:
If you are forced to remain constrained to your house during an economic collapse, you need to make sure your house is safe, warm, and secure. Whether it is a leaking faucet or faulty air conditioner, all these issues need to be fixed if you want to be an economic collapse prepper.
14. Weather-Proof Your Home:
The timing of an economic collapse cannot be predicted. It can happen at any time of the year. By weather-proofing your home through proper insulation- which includes (but is not limited to) installing storm windows, using door draft stoppers, fixing leaks around doors and windows, adding basement insulation, and stocking useful winter survival items, you give yourself the best chance of surviving regardless of the weather conditions.
Get Door Draft Stoppers from Amazon
15. Stock Extra Medications:
Stock on commonly used medications such as painkillers, allergy medications, and anything else you need regularly.
16. Invest In Solar Energy:
To be completely self-reliant for power at your home you can consider switching to solar energy.
Don't Stress: Get a Guide on How to Go About Installing Solar Power Panels in Your Home, Cabin or Vehicle
17. Keep Portable Chargers:
Portable chargers might have limited battery charge but some of the large ones can help charge your cell phones for several days. They can also charge your laptop and other electronic devices. A solar portable charger might just be what you need in such a situation.Purchase a Portable Solar Charger
18. Keep a Long Battery Cell Phone:
You can try keeping a second cell phone that offers an extremely long battery life. This phone doesn’t need to be a smartphone as the purpose of this phone would be to make emergency calls.
19. Periodically Check Your Survival Supplies:
You need to periodically check the items you have compiled to make sure everything that you compiled is there and has not been used up by someone else.
20. Put Together a Bug Out Bag:
There can be certain economic disasters that force you to relocate in a very short time. You and your family need to have a bug-out bag ready with all the essential items in case you need to leave town immediately.
Read our Guide on How to Gather an All-Purpose Bugout Bag
21. Store Some Water:
You will not be able to survive more than 2-3 days without water, so store some drinking water at home.
Purchase a 35-Gallon Water Storage Tank
22. Keep a Survival Library:
It doesn’t have a big library but a few books or guides on how to survive without power, or how to grow food at home can be useful.
23. Keep Self-Defense Tools:
Keep a self-deference tool at home. Whether it is a gun, knife, or other tools, it needs to be something you are comfortable and confident in using.
At the same time, you should be highly vigilant and always aware of your surroundings.
24. Discuss Survival Plan With Your Family:
Everyone in your family needs to be aligned in the plan for an economic collapse. When such a collapse happens, it can be chaotic at the time, so it is better to discuss the plan with the family to make sure everyone knows their role and responsibilities.
25. Practice Positivity:
A positive mental attitude might be the most important factor in your survival from an economic collapse. As long as you have a strong will to survive, you will find a way.
It could be by finding new ways to be enterprising – even if it's just barter trade. An economic collapse could cause a shortage in cash-in-circulation or a dip in the value of the currency. A positive and open-minded person might be sober-headed enough to trade goods for good or goods for services.