20 Things to Do Before the Dollar Collapses
by If you’re worried about what might happen if the dollar collapses, you’re not alone. High spending, trillions in debt, and so much unknown about what our government is doing can be scary. Financial instability is something we should all prepare for because we never know if – or when – something catastrophic can happen to our economic system.
Here are 20 things you can do to better prepare for a potential dollar collapse.
Build an Emergency Cash Fund
Having an emergency cash fund is key to weathering tough times. Aim to save at least three to six months’ worth of expenses in cash that you can access easily. You can put it in a bank and earn a little interest, but we think Grandpa was smart for keeping it under the mattress. I do a mix and have some in the bank and some in my home safe. In the event there is a collapse of the dollar or a power grid issue, I have enough cash to get through a few months.
If you already have an emergency fund, consider adding to it. Having extra cash on hand can give you peace of mind in case banks limit withdrawals or the value of the dollar decreases.
Invest in Precious Metals
Precious metals like gold and silver are often seen as a haven during times of financial instability. These metals tend to hold their value better than paper money when currencies lose their strength.
You don’t have to buy large quantities all at once. Start small by purchasing coins or small bars, and add to your collection over time. These can be traded or sold if the dollar’s value drops significantly.
Stock Up on Food and Water
Food and water are essential to your family’s survival in an emergency. Start by building a pantry of long-lasting items such as canned goods, dried beans, rice, and pasta. Don’t forget to store water in case of shortages, or take the time to learn about different water purification options.
If possible, consider buying in bulk or investing in freeze-dried foods that last for years. It’s always better to have more than you need than to run out when supplies are limited.
Cut Out Recurring Expenses
Take a hard look at your monthly bills and find ways to cut out unnecessary recurring expenses. Subscriptions, streaming services, and memberships can add up quickly, and if the economy collapses, these small costs can strain your budget when every dollar counts.
By trimming down now, you can save money and use it for essentials like food, emergency supplies, or paying off debt. It’s all about simplifying your finances and making sure your money goes towards the things that matter during tough times.
Learning New Practical Skills
In a crisis practical skills become incredibly valuable. Learning how to fix things around the house, make basic repairs to your car, or grow food can help you become more self-reliant and save money.
Consider learning skills like carpentry, plumbing, or even hunting and fishing. These skills will be even more useful if you live in a rural area. These abilities can make a huge difference in your family’s ability to thrive when services are disrupted or the economy takes a hit.
Diversify Your Investments
If all of your savings are in U.S. dollars, a currency collapse could severely hurt your finances. Consider diversifying by investing in foreign currencies, cryptocurrencies, or real estate.
By spreading your investments, you reduce the risk of losing everything in a dollar collapse. Consult a financial advisor to help you make wise decisions based on your circumstances.
Pay Off Debt
Debt can become a huge burden during a financial crisis, especially if interest rates rise. Focus on paying off high-interest debts like credit cards and loans as quickly as possible.
The less debt you have, the more financial freedom you will have to handle any economic downturns. Plus, you’ll free up money to spend on necessities instead of paying interest.
Stocking Up on Critical Medicines
Access to medication can become limited during a financial collapse, so it’s crucial to stock up on any critical medicines your family needs. This includes prescription or over-the-counter medicines and first-aid supplies like bandages, antiseptics, and pain relievers.
Talk to your doctor about getting a 90-day supply of any prescriptions or see if there are alternatives that can be safely stockpiled. Having a well-stocked medicine cabinet ensures you can manage any health issues that arise if supplies are scarce or pharmacies are closed.
Store Extra Fuel
Fuel shortages can happen during financial crises, and prices may skyrocket. Storing extra gas for your car, generator, or other essential tools can help keep your family safe if supplies run low.
Be sure to store fuel safely, in proper containers, and a well-ventilated area. Rotate your stock regularly to ensure the fuel stays fresh and ready for use when needed.
Secure Your Home
Crime rates often increase in times of economic uncertainty. Make your home more secure by installing better locks, motion-sensor lights, and even security cameras.
A secure home will give you peace of mind, especially if your neighborhood faces an uptick in burglaries or other crimes due to financial hardships.
Learn to Barter
If the dollar loses value, bartering may become a common way to exchange goods and services. Learn what items and skills are valuable for trade, such as food, tools, or repairs.
Stock up on items others may want, like batteries, medical supplies, or toiletries. Knowing how to barter effectively can help your family get what it needs without relying on cash.
Improve Your Cooking Skills
If you rely heavily on takeout or processed foods, now is a great time to improve your cooking skills. Preparing meals from scratch is more cost-effective and can help you make the most of your food supplies.
Focus on learning how to cook with simple, affordable ingredients. This allows you to stretch your budget further if food prices rise or supplies become limited.
Learn How to Can and Preserve Food
Canning and preserving food is a great way to extend the shelf life of fresh produce and meats. Learn how to can fruits, vegetables, and even meats to have a stockpile of food that lasts months or even years.
Not only does this save money, but it also ensures that your family has access to healthy, homemade meals, even when fresh produce is hard to find.
Build a Support Network
Community is vital during tough times. Get to know your neighbors and build a support network with family and friends. Share skills, resources, and advice with each other.
A trusted group can make a huge difference in surviving and thriving during an economic collapse. You’ll have people to turn to for help and can offer support in return.
Learn Basic Self-Defense
If financial instability leads to increased crime, knowing basic self-defense could protect you and your loved ones. There are plenty of free resources online to teach you the basics.
You don’t have to be a martial arts expert, but knowing how to handle yourself in a dangerous situation can help you feel more confident and prepared.
Invest in Durable Clothing and Footwear
Clothing might seem like a luxury during a crisis, but having durable, high-quality clothes and shoes is essential if supplies run low or stores close. Invest in long-lasting materials that can withstand wear and tear.
Think about items that can keep you warm in cold weather and comfortable in extreme conditions. Clothing might become harder to find, so quality pieces that last a long time are key.
Relocating
If you live in an area where the cost of living is high or the job market may suffer during an economic downturn, relocating could be a smart move. Consider moving to a region with a lower cost of living, better job prospects, or where you can be more self-sufficient. Also, opt for a smaller home to reduce all of your expenses. But be sure to have enough yard space to grow your food!
Before making a big move, do in-depth research on your potential new location. Consider factors like access to healthcare, proximity to family, and the availability of resources like water, food, and jobs. A well-planned relocation can give your family a fresh start and greater security during tough financial times.
Sell Items You No Longer Use
Finally, the best thing you can do in any crisis is to stay calm. Panic can lead to poor decision-making, so take a deep breath and focus on the steps you can control. Stay informed by following trusted news sources and experts who can help guide you through the situation.
Knowledge is power, and being prepared is half the battle. Staying calm and well-informed ensures that you’re ready for anything that comes your way.
Preparing for a potential dollar collapse doesn’t have to be overwhelming. By taking these 20 steps, you can help ensure that your family is safe, secure, and ready for whatever challenges lie ahead. The most important thing is to start now—every little bit of preparation will make a difference when times get tough.
Protecting Your Digital Life Against Cyber Threats
Protecting your online footprint is as important as your protecting your home. With phishing scams, online hackers, and other electronic scams more prevalent than ever – you need to protect yourself. Check out these 20 tips to protect yourself online and reduce the risk of theft or hacks.
31 Thrift Store Finds For Building a Survival Inventory
In uncertain times, being prepared can bring peace of mind. Thankfully thrift stores offer survival goods that can be purchased at really low prices. There is no need to buy knew items when perfectly good used items are out there. Just be sure you test everything and look for rips or tears or broken pieces on any item you buy.
