How To Prepare for a Depression
There's been lots of talks about recessions and possible depressions and everything I read says "prepare" but nobody really tells you how to prepare.
Here are some preparation ideas based on what I have researched from speaking to people alive during the depression, to reading about the people who survived (and thrived) during the last depression.
Learn how to cook with the basics and write the recipes on paper where they will always be available.
Pinterest is riddled with depression era recipes.
Learn some!
Flour and water with a little bit of this and a little bit of that makes lots of delicious breads and desserts.
Take it a step further and learn how to make a solar oven.
Learn all about water pasteurization
Water can be pasteurized in mason jars with the power of the sun. This water will be potable, and able to be used for meal preparations.
Learn which edible plants grow on your land (or around your neighborhood)
For me it is purselane and dandelions.
baby purselane, picture taken by @busdriver
The dandelions are literally weeds that most people rip out of their lawn, and purslane is a super food that happens to be invasive, grows like a weed, and needs very little water.
I am learning how to prepare those now, and, really, they are saving me money during these high inflation times.
Purselane, tomato and onion tacos with slices of avocado are very delicious, and all those ingredients can be grown in my yard (the salsa garden is planted and the avocado tree is growing).
Start a garden
The first few seasons you garden are a learning process. You don't want to wait until you have to grow your own food to know what works for your home.
How much water does your garden need?
What types of critters want to share your garden with you.
How many tomatoes can a container really grow.
Does that part of the yard really get enough sunshine.
Find out now.
image from hive stock images by @crosheille
Have lots and lots of tools and the skill to use them.
If you have tools and a skill, you have an income generator.
What skill do you have right now that can be monetized during a depression?
My ability to turn size 2 toddler pants into size 3 toddler pants is of no use right now. The time and effort it takes to stretch out the clothes is better spent at Target or the goodwill where there is an abundance of stuff, at really cheap prices
image from hive stock images by @asklanbudi
However, if pants start to be valued for what they are really worth, I will be able to trade my skill for a meal in a pinch.
A sewing machine will be a great tool to have.
Take inventory of the teachable skills you have
I can make mittens, hats and scarves.
I can also teach others how to make those things.
Again, in this time of abundance where you can buy such commodities for 2.99USD, it doesn't matter much.
But what about when you need those 2.99 to purchase eggs and milk?
The patience to teach others is a great asset of mine, what is yours?
Collect small amounts of gold, silver and other precious metals.
I especially like to collect the wearable, jewelry pieces, but some may argue that the coins or nuggets have a greater value.
If the US tanks, gold will still hold value. If there is no electricity and you can't get a hold of your HIVE account, then silver will be your friend.
Learn to entertain yourself
Do you have a set of books or board games, toys or such to keep you busy, entertained and having fun?
If a real depression hits chances are you won't be able to go out to dinner and a movie.
Concerts will proably be few and far between.
Learn how to love your environment and love spending time there. Liking the people you are around is an added bonus.
Have as little debt as possible
You want to make sure all your income goes to providing food, shelter, and clothing.
Even student debt and mortgages are "bad" during a depression.
Learn to be a part of a community
Do business within the community as much as possible.
Learn to keep the money you do have "within the family." Pay your neighbor to file your taxes and have them pay your son to mow their lawn, and have your son buy lemonade off the little girl down the street and have the little girl down the street buy a book from the neighborhood library.
HODL !!!
I am kind of kidding but not really. You have to learn when to sell, when to sit, and when to HODL. Even during the depression.
Whatever assets you have are to be maximized to their fullest potential.
Before things get "crazy" know where your buy, sell, and HODL loyalties lay.
In case of HIVE I won't sell for less than $2.50 USD and I won't buy until it hits $0.19
Know your numbers, especially during a depression, when emotions will be higher than they are now.
How else can we prepare for coming depressions?
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