If you are preparing for an Economic Depression

[amary]

What are you doing? A local talk show has been interviewing financial analysts and they have convinced me that we are on our way to a depression over the next two months. They talked about the effect of weakening dollar, individual debt, bankruptcy, jobless rates, natural disasters and theoretical trends. A lot of it was over my head, but I could follow it enough to see that there was a lot of truth in what they said. They weren't selling anything either

 

I've googled this, but many people are looking to get rich from a depression. We'll all be in the poor boat together and I'm just looking at basic survival. We'll be stocking up on basics like pasta, rice, tomato products, canned vegetables, beans, basic medicines, vitamins. I'm buying next years schoolbooks now. Taking money out may not matter as it seems like the American dollar won't survive if this does happen.

 

What about heating systems if you live in the north? It sounds like most people won't be able to afford oil or gas. Wood stoves are ideal, but they won't work for people with allergies.

[Julpost]

Ummm....good topic! I'll be watching this one. I'm already in the poor boat but we're stocking up on food, thinking about what we can do for ourselves, trying to get out of debt., etc. Praying and watching....

[at the beach]

What are you doing? A local talk show has been interviewing financial analysts and they have convinced me that we are on our way to a depression over the next two months. They talked about the effect of weakening dollar, individual debt, bankruptcy, jobless rates, natural disasters and theoretical trends. A lot of it was over my head, but I could follow it enough to see that there was a lot of truth in what they said. They weren't selling anything either

 

I've googled this, but many people are looking to get rich from a depression. We'll all be in the poor boat together and I'm just looking at basic survival. We'll be stocking up on basics like pasta, rice, tomato products, canned vegetables, beans, basic medicines, vitamins. I'm buying next years schoolbooks now. Taking money out may not matter as it seems like the American dollar won't survive if this does happen.

 

What about heating systems if you live in the north? It sounds like most people won't be able to afford oil or gas. Wood stoves are ideal, but they won't work for people with allergies.

 

 

I agree this is a good topic. One thing we are thinking of is the wood insert, an EPA certified one that will cost us an arm and a leg. It seems like a huge outlay of funds that we don't even really have, but I am feeling almost compelled to make sure that we can have some heat without being totally reliant on the gas company. I have never felt anxious about something like this until now.

 

Anita

[Quiver0f10]

We don't have much $ left in our budget after the bills are paid so we are limited in what we can do. However, we are stocking up on food and the basic supplies we need day to day and we are learning to live with less.

 

The biggest thing we are trying to do is pay down our debt so we have more freedom to make choices. Unfortnately this is slow going but eventually we will be able to pay it down faster.

[jmgconner]

We're paying off debt a la Dave Ramsey. We're trying to be frugal, we have a Victory Garden, stocking up on basics, learning basic survival skills (for instance, I'm teaching myself how to handquilt today). I know how to bake bread, and hopefully I'll have a solar oven before the summer is up and am able to use it. We pray for wisdom, and we know that God provides for the sparrows, and He'll do the same for us.

[Marie in Oh]

with the price of propane, it may only take 2 years to pay it off. We live on a wooded lot so we have free fuel.

 

We have a big garden this year and will freeze alot. We are buying local meat so our freezer is full.

 

We paid down 25k in debt in the last 12 months (our kitchen remodel from last year) and we plan to pay extra on our mortgage now. The only debt that remains is our mortgage and a small HELC, but the total of the two are way below the % of take home pay recommended by Dave Ramsey and others.

 

Dh's job is very stable and I am not worried. We have always been careful with our money living on WAAY less than he makes. So I am optimistic that we will be fine. I used to feel better how much we had in the stock market and retirement funds, but with the current market, that means much less to me now. Having no debt seems so much smarter so we've stopped most of our investing and are plunking into mortgage reduction.

[TravelingChris]

My husband is 21 years in the military. We were waiting until the new promotion list to see if he is retiring next Spring. Now I am not sure about retiring next Spring even if he doesn't get a promotion. I don't think we will have a depression this year. The depression was as a result of monumentally bad fiscal and monetary policy that most economists have seen as in error now. I can see a depression happening if Obama is elected and putsin some of his tax policies (but since he has proposed many policies, some in opposition to others in completely depends what he proposes and passes). The thing not to do in a recession is raise taxes.

[Kathleen in VA]

OK, I for one was enjoying this thread as it has the potential for being a way to share good ideas for preparing for an economic downfall - regardless of the cause. I would rather not have it become a political discussion. Is anyone with me on this?

[amary]

we know that God provides for the sparrows, and He'll do the same for us.

I agree and that's why I don't feel frantic, but since I'm feeling inspired to take some action now I think that's one way he is providing for me.

We are putting in a wood stove

 

What type are you putting in? A room stove? Basement? Outdoor whole house burner?

[Renee in NC]

Good thought! Maybe someone could take the "whys" to a separate thread in order to keep this one focused on ways to prepare?

[Cheryl in NM]

1. We have a wood stove that we use to supplement the propane heater. A wood cutting permit is $20/cord and we'll cut 4 cords probably. It will cost us a few hundred in gas, but will still come out cheaper than buying propane all winter.

 

2. We have a garden and my neighbor's dad has a peach tree. We spend the late summer canning ourselves silly.

 

3. I'm stocking up on dried goods (flour, sugar, beans, pasta) and learning to enjoy cooking and eating simply.

 

4. Dh hunts and will hopefully provide us with an elk and a deer this year.

 

5. Dh & ds will be fishing for our summer meat.

 

6. We are going to buy a steer at auction and raise for slaughter.

 

7. We raise chickens...some will go in the freezer and we will maintian a laying flock of 25. I can sell the eggs locally to pay for all the chicken expenses and some of the horse/steer expenses.

 

8. I am being vigilant at the store. Do we really need so and so? Am I getting caught up in the "gotta have its"? I'm going to sew some clothes this summer.

 

9. Since we live rural...try to shop closer to home (sometimes I pay extra a the register/pump for this so I have to be careful) and minimize trips into town. I only have to drive 10 miles to catch mass transit, even in rural NM. It's a little more affordable than driving my own vehicle.

 

That's all I can think of right now.

[Mamagistra]

OK, I for one was enjoying this thread as it has the potential for being a way to share good ideas for preparing for an economic downfall - regardless of the cause. I would rather not have it become a political discussion. Is anyone with me on this?

 

:iagree: It could at least be a separate thread, right? :)

[Michelle T]

OK, I for one was enjoying this thread as it has the potential for being a way to share good ideas for preparing for an economic downfall - regardless of the cause. I would rather not have it become a political discussion. Is anyone with me on this?

 

 

I would love to hear advice on getting through financial hardship. I'm not too interested in political speculating.

 

We have a ton of debt that needs to be paid off, but as DH's income is very unpredictable, and can fluctuate between $0 per month and $6,000 per month, it's very hard to budget.

Michelle T

[Sara R]

Here's an article I wrote up to help me clarify my own thoughts a few months ago:

 

If you’re like me, you’re worried about inflation. Locally, the price of eggs and wheat have tripled in the last year. The value of the dollar has dropped precipitously. If it continues dropping, imported goods will become more expensive, as will anything purchased on the world market, such as wheat and crude oil.

 

Some investment advisers give advice about how to protect your money from inflation by investing in gold and other commodities, or by investing in other currencies. But this involves risk. What if this is the high in commodities? What if the dollar has finished falling? Also, our family is young and we don't have a lot of money to invest. What could we do on a budget to protect our family from inflation? Here are the ideas I came up with.

 

(1) Increase your personal frugality. My husband and I have been pretty frugal in our 12 years of marriage. But still, as times have gotten better, little wasteful habits have crept in. Now is the time to pluck them out. The more careful you are with money, the more secure your future. If you have children, you may feel bad about making them live with less. But remember that you are giving them valuable skills that they will remember when hard times come in their lives.

 

The Complete Tightwad Gazette has a ton of specific ideas about how to save money, and more importantly, how to keep your morale up when doing so.

 

(2) Home storage. If inflation is coming, that means needs purchased today will be cheaper than those same items purchased tomorrow. Use the extra money you have from a tax return or from the stimulus package to buy things you'll need later. Think ahead. Fill your pantry, freezer, and basement with non-perishable food purchased on sale. Look for clearance sales for next winter’s coats in the sizes your children are growing into. Yard sales are a great place to buy clothing cheap. Last weekend I bought clothes several sizes up for my kids for a quarter per item. Clothes aren't going to get cheaper than that! These are risk-free ways for your household to hedge against inflation. Even if inflation doesn’t come, you will save money in the long run. If you have a small home, you may need to be creative in finding storage space.

 

(3) Learn homemaking skills. As the price of wheat increases the price of bread, it may make more financial sense to make homemade bread. Plant a garden to save money on produce. Canning helps you preserve homegrown garden produce for the winter. If imported clothing makes clothing prices go up too high, sewing skills may again be in demand as they were when my parents were growing up. These kinds of skills look overwhelming to learn all at once, but small steps in the right direction add up.

 

(4) If you are a two-income family, continue to evaluate the true value of the second income. Rising fuel costs increase the cost of getting to work, while rising food prices increase the potential money saved by a stay-at-home parent. If wages remain the same, a second income may become less profitable.

 

(5) Reduce your energy dependence. The price of gas looks likely to go higher. Start thinking of what you would do if gas got to $5 or $6 per gallon or more. Can you get to work on your bike, or with public transportation? Are your children’s activities close to home? Could your family squish into a smaller, more fuel-efficient car? In extreme cases, you may need to consider moving closer to work or replacing a fuel-inefficient vehicle. Also consider investing in items around the house that would decrease your energy costs. You might consider purchasing a clothesline, a solar oven, or a wood-burning stove.

 

(6) Reevaluate your retirement plan. This suggestion goes against current Wall Street advice, but it's worth considering. Investing is more than just putting money in the stock market or bonds. You can also invest in appliances that save money, or in paying off your mortgage early, or in other things to decrease your future cost of living. My husband bought me a $250 wheat grinder when we were poor engaged students. At the time I was upset because of how much money he spent on it, but that investment has paid us back with many years of inexpensive bread.

 

The lower your cost of living, the less money you will need for retirement. Stocks look like they are in a bear market now, and inflation is eating the purchasing power of future dollars to be used in retirement. In this case, "investing" closer to home has an even better comparative return.*

 

(7) What if you still have money that you want to protect from inflation? If you want to take the risk, here are ways to invest small balances:

 

(a) Everbank is a bank that offers savings accounts in foreign currencies that are FDIC insured against bank failure, but not against currency risk. Minimum balance of $2500.

(b) Exchange traded funds, or ETFs, are like mutual funds that can be traded on the stock exchange. Because you can buy a single share, this means that minimum balances are smaller. Many discount brokers are out there that perform trades at low cost. There are ETFs that invest in precious metals, commodities, or foreign currencies. I like the looks of Rogers International Commodities Index, which is an index fund of diversified international commodities, investing in everything from crude oil to aduki beans.**

© Physical precious metals can also be purchased in small amounts. These require paying storage fees or taking the risk of storing them yourself.

 

In uncertain economic times, preparation brings peace. You can be confident in meeting your family's future needs.

 

*Principal from Roth IRAs can be withdrawn without penalty. The profit is taxed, but with the wonder of the modern stock market, that may not be a worry for you. It wasn't for us. Conventional financial wisdom talks about buy-and-hold investing for "the long term," but the stock market has been flat-to-negative over the past 10 years, and the next 10 years look worse than the last. I know you can't time the market exactly, but it just seems foolish to buy stocks when there's so much bad news out there.

 

**Congress has been talking about interfering with the commodities markets. I don't know if their talk will amount to anything, but it's something to consider before investing in commodities. If Congress does monkey with the commodities markets, I think precious metals prices would go through the roof, because the money in the commodities markets needs to go somewhere, and what else is relatively safe? Stocks are going down; the safety of bonds depends on debts being repaid, and everyone, gov't included, is in too much debt. Foreign currencies might also do okay. Peter Schiff, a gloom-and-doom investment guy, likes stocks denominated in foreign currencies, but those have big fees that aren't appropriate for small potatoes investors like me.

[HRAAB]

OK, I for one was enjoying this thread as it has the potential for being a way to share good ideas for preparing for an economic downfall - regardless of the cause. I would rather not have it become a political discussion. Is anyone with me on this?

 

:iagree:

 

I would enjoy a discussion about living frugally and learning from all the ideas out there. We have always more or less lived as though we were in a depression - our own little depression. My dh makes 'okay' money, but by no means 'really good' money, and there are 7 of us. Fortunately, my dh grew up in a family of 14 with a mom who is a whiz on saving, managing a household, being frugal - so he comes by it naturally. Even though we've always tried to live within our means, it's getting harder and harder.

 

 

1. We have a big garden (increased the size this year) and fruit orchard. I preserve whatever is harvested.

2. We use a wood stove during the winter to supplement.

3. We don't turn on the AC until it's absolutely needed - whatever that might be. Close windows, pull blinds in the morning to keep heat out.

4. Keep lights off and appliances unplugged.

5. Shop sales and stock up. I don't buy pop, chips, prepared food, etc. Oh, I stick to my list!

6. For family fun we go on picnics, hike, go the park.

7. We shop good will stores. My older girls both work so they buy their own clothes.

8. Combine trips whenever possible. My dh has been driving my little Saturn, and I'm staying home - which I don't mind. He's taught me how to coast when there's a red light coming up. Increased gas mileage from about 29 mpg to 34 to 35 mpg.

9. No cable, no Direct TV. We check movies out from the library. (Which is great if I get them back on time.)

10. We're huge milk drinkers so I've started limiting milk to meal time.

11. We've always had hens but the neighborhood fox had chicken dinner last summer. So we bought some straight run chicks, and they all turned out to be roosters. :confused: So meat in the freezer.

12. We repair, mend, fix whatever we can.

13. When we do make a purchase, we try for quality. And then my dh insists we maintain and take care of what we have.

Now I need to go back and see what everyone else wrote.

 

Janet

[amary]

Some unusual items to stock:

-mung beans for sprouting from the asian store (very easy to do and highly nutritoius)

-curry powder, chili powder to flavor bland foods

-sugar, cocoa powder and canned coffee (in the last depression these items were sought after and can easily be used for trade or sale)

-toilet paper. If money is short, you aren't going to want to pay a buck a roll. Cloth strips can be used too, but for certain things I think flushable works better

-female supplies. I've been stocking up on those and have bought supplies to make cloth pads/napkins and printed out directions online (hillybilly housewife)

 

Some of you mentioned not having money to stock up-I've been picking up beans and similar things at Dollar General. The prices are cheaper than the regular store and the beans are almost the same quality. They are cheaper than beans in bulk from our co-op too. I noticed last week that the higher end grocery store where I never shop actually has rice and pasta cheaper than anywhere else. I had to drive past it, so I picked up a $5 worth of pasta. If you can just pick one small bag of beans and one small bag of rice each week, about $3 total in our area, you'll have enough to tide yourself over if there is an intial panic causing the shelves to go bare at the store.

[Murphy101]

I would be interested in two things:

How city follks are planning. For example, it's not an option to have our own chickens and goat or put in a really large garden.

 

How items are to be stored. My biggest worry with buying, let's say rice, in bulk is the heartbreak of opening it to see it's gone bad (mold, mice, whatever).

 

Our finances are VERY tight, but it's not due to debt. We have the mortgage and the cars and utilities - but food is really expensive.

 

Also, we have a wood burning fireplace and I'd be interested in how I could make that more cook friendly. Wood is very expensive ehre, but if things keep going this way, even expensive wood might be cheaper.

[Quiver0f10]

I would be interested in two things:

How city follks are planning. For example, it's not an option to have our own chickens and goat or put in a really large garden.

 

How items are to be stored. My biggest worry with buying, let's say rice, in bulk is the heartbreak of opening it to see it's gone bad (mold, mice, whatever).

 

We live in a city so we are in the same boat. We are stocking up on grains and baking supplies right now. I store my stuff in plastic buckets with tight sealing lids that I bought from our food co-op. I am also stocking up on canned good andnon-perishable stuff.

 

I wish we had a large garden and container gardeing seems pointless for my size family. Can you see if there are any farmer's markets nearby and stock up on veggies/fruits and can them or freeze them?

[Soph the vet]

I would be interested in two things:

How city follks are planning. For example, it's not an option to have our own chickens and goat or put in a really large garden.

 

How items are to be stored. My biggest worry with buying, let's say rice, in bulk is the heartbreak of opening it to see it's gone bad (mold, mice, whatever).

 

Our finances are VERY tight, but it's not due to debt. We have the mortgage and the cars and utilities - but food is really expensive.

 

Also, we have a wood burning fireplace and I'd be interested in how I could make that more cook friendly. Wood is very expensive ehre, but if things keep going this way, even expensive wood might be cheaper.

I am a "suburb/city" girl against my better judgement:001_smile:. We have 1/4 acre lot and I've tried many times to grow a great garden...unsuccessfully. We joined a CSA (community supported agriculture) this year and it has been great. Organic veggies and fruit 10-25# per week delivered from a small farm in Wisconsin. It is a risk if weather is bad but so far so good this year. We are saving tons on veggies from the store. But if you have a green thumb try a victory garden.

We can't raise chickens either or a cow for that matter, but there are chicken shares and sides of beef shares that can be purchased. You'll need a good size freezer. We haven't done that yet but probably will.

We may look at a wood insert for our now gas fireplace. Minnesota winters require some heat;) but otherwise we keep the thermostat low in the winter, like 60 degrees at night, 65 during the day. My dds like to knit so they can start making sweaters!

I stock up on things I see on sale that are non-perishable but only a couple of cabinets full. I am considering getting the 25# bag of rice and using very think rubbermaid containers to keep it in. I also try to limit driving and plan routes more efficiently now.

[Murphy101]

We live in a city so we are in the same boat. We are stocking up on grains and baking supplies right now. I store my stuff in plastic buckets with tight sealing lids that I bought from our food co-op. I am also stocking up on canned good andnon-perishable stuff.

 

I wish we had a large garden and container gardeing seems pointless for my size family. Can you see if there are any farmer's markets nearby and stock up on veggies/fruits and can them or freeze them?

 

Do you have to use a certain kind of plastic bucket? can you send a link with a picture? (visual learner here;))

 

the farmer's market's are actually more expensive than the grocery store! mostly , i think because they are "organic" or specialty type things or they have membership fees that I find excessive, esp when some of them are basic membership fees to go out to their farm and pick the food yourself - adding the cost of gas and labor.

[Renee in NC]

We are moving into a mobile home closer to a big town. This will save us both in housing payments ($350 versus $1100 per month) and gas usage (will cut in more than half.)

 

We are going to a smaller vehicle (minivan vs. 12 passenger van) and we just won't all be able to go anywhere at the same time. The occasional cost of taking 2 cars somewhere will be more than offset by the savings in day-to-day fuel mileage.

 

Dh has "put the word out" about accepting good hardwoods that are not mill quality. We just had a HUGE oak delivered that he is cutting and splitting for fire wood to sell this winter. At $150 a cord or more, this will help pay the bills when times are tight.

 

Our new place will be rented land, so no chickens or large garden. However, a square foot garden can be planted in tiny spaces and we will have 8-9 squares in our front yard.

[Murphy101]

I am a "suburb/city" girl against my better judgement:001_smile:. We have 1/4 acre lot and I've tried many times to grow a great garden...unsuccessfully. We joined a CSA (community supported agriculture) this year and it has been great. Organic veggies and fruit 10-25# per week delivered from a small farm in Wisconsin. It is a risk if weather is bad but so far so good this year. We are saving tons on veggies from the store. But if you have a green thumb try a victory garden.

We can't raise chickens either or a cow for that matter, but there are chicken shares and sides of beef shares that can be purchased. You'll need a good size freezer. We haven't done that yet but probably will.

We may look at a wood insert for our now gas fireplace. Minnesota winters require some heat;) but otherwise we keep the thermostat low in the winter, like 60 degrees at night, 65 during the day. My dds like to knit so they can start making sweaters!

I stock up on things I see on sale that are non-perishable but only a couple of cabinets full. I am considering getting the 25# bag of rice and using very think rubbermaid containers to keep it in. I also try to limit driving and plan routes more efficiently now.

 

there are no CSAs here - I've looked into that. We do have a 22cf frostfree upright freezer in the garage - is that big enough?

 

Already limiting all driving and watching thermostat.

We're considering the bulk grains at Sam's Club too. They have basmati rice and black beans, very healthy. I'm just worried about storage. Because after spending that money on the stuff, there won't be funds to replace it if it goes bad.

 

Like another poster, we've limited milk to meals only, one cup of juice with breakfast only. Otherwise, it's water or nothing. The juice is new around here b/c normally I insist on eating fruit, but even in season fruit is too expensive this year. We used to keep bananas and apples in the house all the time, now we buy it maybe once or twice a month.

 

We aren't having meat more than maybe 3 or 4 times a week, a huge sacrifice for my dh who is a 3 meats a day carnivore.:)

 

But I want to be VERY careful that we eat healthy. I firmly believe that we could eat cheaper, but would end up paying for it in health care later - and that's just not worth it to me.

[Veronica in VA]

Since the economic depression just hit for me (husband just lost job yesterday) I am grateful I have stocked up some on food. Could have done more, but I won't need meat or beans for at least 2 months. We have a small garden, but my son works for an organic farm, and often comes home with veggies and fruit. My husband loves craigslist and found a lot of free firewood. We just had to haul and split. I am driving a whole lot less, too. I hope things get better soon, but I think high gas prices are here to stay for awhile.

 

Veronica

[Mekanamom]

It sounds like most people won't be able to afford oil or gas. Wood stoves are ideal, but they won't work for people with allergies.

 

...Or for people who live in areas where they may be banned. We couldn't afford to get a wood stove when they were legal to buy and install. Now it's too late in my area. I'm sure there might be some kind of legal stove we could purchase, but perhaps not without selling limbs or firstborn children in order to afford it.

 

Of course, I don't want to hurt those around me with particulate matter, either. But I would like to stay warm in the winter.

 

My house has beautiful vaulted ceilings. I look at these ceilings and can't help thinking of how inefficient this house is to heat. :glare:

 

I think our best bet may be locking in our energy rates by renting solar panels.

 

There are a few different companies out there providing this service. I linked to the one above because they seem to have the most advertising.

[HRAAB]

I would be interested in two things:

How city follks are planning. For example, it's not an option to have our own chickens and goat or put in a really large garden.

 

How items are to be stored. My biggest worry with buying, let's say rice, in bulk is the heartbreak of opening it to see it's gone bad (mold, mice, whatever).

 

Our finances are VERY tight, but it's not due to debt. We have the mortgage and the cars and utilities - but food is really expensive.

 

Also, we have a wood burning fireplace and I'd be interested in how I could make that more cook friendly. Wood is very expensive ehre, but if things keep going this way, even expensive wood might be cheaper.

 

You've reminded me how fortunate we are to have a little ground around us. However, patio gardens work great for tomatoes, peppers and such. If you google, you can find all sorts of ideas about gardening in small city lots.

 

About the wood burning stove: mine is always going in the winter so I keep the tea pot on it. I make a lot of soup, and after I've cooked the meat on the stove, I put the soup pot on the woodstove to simmer all day.

 

Snacks are something my kids seem to need. They get hungry between meals. I buy peanuts, seeds, raisins in bulk and make my own mix. It really seems to tide them over.

 

When I look at our future earning capacity (decreasing) and the rising cost of living, I just feel depressed. We've worked so hard to stay out of debt so I could be home with the kids, and there seems to be no end in sight.

 

Janet

[RebeccaC]

The depression was as a result of monumentally bad fiscal and monetary policy that most economists have seen as in error now. I can see a depression happening if Obama is elected and puts in some of his tax policies (but since he has proposed many policies, some in opposition to others in completely depends what he proposes and passes). The thing not to do in a recession is raise taxes.

 

 

We hit our own personal depression with 9/11Dh was making between 70 and 80 thousand before 9/11 after he was making 35. There is always economic fear hype, there was a ton around Y2K. A ton around 9/11. A ton in the early 90s fueled by Larry Burkett. Take everything you hear with a grain of salt. Especially if it gives you a knee jerk reaction.

 

By the way we sold our Y2K kerosene stove and oven last year at our yard sale. I still have beans and dried fruit stocked up from Y2K. I have curriculum that I bought because of Y2k setting in storage :rolleyes: never used and probably won't be used by me and therefore I should unstore it and give it away.

 

Maybe there are some hard times on the horizon or even here right now but I am willing to bet they will not be as hard as predicted or last as long. Just lived through too many fear hypes on the economy and actually am old enough to remember and to have been working during the last real recession which was in the late 70s early 80s. Tons of recession have been predicted since them but all of the predictions were wrong.

[Quiver0f10]

Do you have to use a certain kind of plastic bucket? can you send a link with a picture? (visual learner here;))

 

the farmer's market's are actually more expensive than the grocery store! mostly , i think because they are "organic" or specialty type things or they have membership fees that I find excessive, esp when some of them are basic membership fees to go out to their farm and pick the food yourself - adding the cost of gas and labor.

 

 

http://www.disasterstuff.com/store/pc/Food-Grade-5-Gallon-Bucket-White-12p42.htm

 

I buy the buckets for $5 from my food co-op. The lid in this pic is a gamma seal and there run @ $7-$9 each. I don't have the gamma seals yet, but they are next on my list. For now, I use the regular lids and make sure they are sealed tight.

[Sara R]

This post reminds me--you can get a lot of good deals at yard sales! ;)

 

I hope it doesn't happen. I was all prepared for Y2K too, and it never happened. Oh well. Because of it, we're better prepared for this next batch of storms on the horizon.

 

America has had a pretty prosperous 50+ years. But when you look at history and at foreign current events, you realize that this kind of prosperity is not typical. Hard times do come. If they don't come now, preparedness isn't a waste. If nothing else, your children will watch you and they will have a better idea about how to deal with hard times when they have them.

[Adrianne]

I can see a depression happening if Obama is elected and putsin some of his tax policies (but since he has proposed many policies, some in opposition to others in completely depends what he proposes and passes). The thing not to do in a recession is raise taxes.

 

:iagree::iagree::iagree:

[Mekanamom]

I would be interested in two things:

How city follks are planning. For example, it's not an option to have our own chickens and goat or put in a really large garden.

 

 

Check out Earth Box for city gardening. You can grow a nice garden on your deck or patio or even your roof. (I'm in a rural area, but have an EB garden. It's time for me to update my blog... there are some photos there.)

 

Many cities will allow hens (not roosters, usually) if you follow certain rules. Check your city ordinances. I grew up smack in the middle of suburbia and we had chickens, fruit trees, a big garden, and... don't cringe... rabbits. They breed so darn fast, there is always enough meat if you've got a big freezer. The city didn't allow goats, though.

 

Now here I am in a rural area and I am not quite as self-sufficient as my family was when I was a kid in suburbia. LOL.

[Murphy101]

America has had a pretty prosperous 50+ years. But when you look at history and at foreign current events, you realize that this kind of prosperity is not typical. Hard times do come. If they don't come now, preparedness isn't a waste. If nothing else, your children will watch you and they will have a better idea about how to deal with hard times when they have them.

 

Sara, this sums up our sentiments. Prosperity never lasts forever, not for most individual families and not for nations either. We never worried about 9/11 or Y2K causing shortages or depression. But this isn't just economics, imo. There's serious crisis due to natural disasters in many areas of not only our country, but other countries too and that's bound to show on the shelves at least until a better crop is able to be pulled. We are really starting to feel a serious pinch the last few weeks and don't imagine it's going to get better before it gets worse. I feel the worst that stocking up on things we already use will do is save us money and time shopping later.:)

[tristangrace]

I would be interested in two things:

How city follks are planning. For example, it's not an option to have our own chickens and goat or put in a really large garden.

 

How items are to be stored.

 

I was wondering about us city folk as well!

 

I can't say this decision was influenced by any concern about the economy, but my husband built cold frames for a rooftop garden this past winter, and even here in Chicago, we should get fresh greens all year long (in addition to tomatoes, peppers, etc. during part of the year).

 

We also have excellent public transportation and can take the El or a bus or walk most everywhere we need to go.

[Tracy in Ky]

We've been doing a few things:

 

1. I have sewn some of dd's summer clothes from fabric that was given to me. And I have not been shy about letting people know that I am interested in their children's hand-me-downs. Ds and dd both have been blessed by this. Dh and I are making do with the clothes that we have. No new clothes right now.

 

2. We have reduced our driving. An average week finds me leaving the house only once. If I have to go out again, I make sure I am combining trips so that every dollar into that gas tank counts. This sometimes means that I reschedule appointments so that things line up on the same days.

 

3. I cook virtually everything from scratch. No cereals, chips, cookies, store-brought breads, etc. No soft drinks, no candy, no hotdogs. We eat homemade bread, homemade deserts, air-popped popcorn, homemade icecream, ect. I occasionally buy a frozen pizza, and I do buy store sausage for breakfast, plus orange juice. I buy wheat, oats, etc. in bulk. This means that I cook a LOT. I see it as part of my job. :)

 

4. I use Wal-Mart bags for trash bags, and try to use very few disposable products. I buy cheap toilet paper. I do not buy facial tissue unless someone has a cold. I try to use less soap in the dishwasher and clothes washer. I also wait until I have a pretty big load of clothes before I wash, and I'm washing on cold and warm cycles.

 

5. We have put in a huge garden, plus lots of raised beds, and I spend hours and hours and hours out there--watering, weeding, cultivating, squashing bug eggs, and doing bug patrol. I am praying for a huge harvest and hope to preserve lots and lots of food. I've bartered for strawberries (I made jam and also froze a lot), and have sold school curriculum to buy peaches with from the orchard. My in-laws have an apple tree, full of apples. If they do well, I plan on freezing lots. I've ordered 4 gallons of blackberries for freezing and jam.

 

6. We have chickens and ducks for eggs, and are raising roosters for meat (in fact, tomorrow is butchering day). I've frozen about 22 gallons of milk from the cow, and have frozen butter and cheese. (She has to be dried off for part of the summer before she calves, so I'm stocking up). If she has a bull calf, we'll raise it for meat. We are planning on getting 2 meat rabbit does in the next week or two--another source of home grown meat. And this fall, after Daisy calves, we may get a hog to raise on her extra milk for meat. The kids go fishing, and we eat that fish--free food! Ds and his friend went frog-gigging and then ate frog legs.

 

7. I try to use as few 'beauty' products as possible. Dh and I have learned that we don't have to use deoderant/anti-perspirant if we use alcohol. Ds and dd share cheap shampoo. I make do with very little make-up, and I use cheap facesoap and lotion and shampoo. I buy bar soap (no liquid soaps, though they are fun). Dh and ds now cut their own hair. I've changed my hairstyle to one that requires fewer trips to the salon and less investment all around.

 

8. If we go to town, we take peanut butter sandwiches and water or milk, nuts, fruit, etc. Seldom do we buy food out. It is unhealthy and expensive.

 

9. Before I buy anything I make sure that I really, really need it.

 

10. We don't have cable or satellite and we reduced the cell phone plan to bare bones. We hardly ever rent movies. We do pay $25.00 a year to use the library in the big city (about 1 hour drive). We check out lots of books at a time (up to 99--our limit). The library trip is a big deal (we did it yesterday). It uses gas, but since we are so frugal with it otherwise, it is our splurge.

 

11. (edited)--we use wood heat in the winter. We do have a heat pump, but we try to use the wood burning stove a lot! :)

 

That's all I can think of now. There are probably lots more, as I as a rule try to live as frugally as possible.

 

Great thread!!:)

[amary]

We store our bags of grain in those big plastic storage bins like this

http://www.rubbermaid.com/rubbermaid/images/product/2244-blue-mist_sm.jpg

They are usually on sale at Walmart or similar stores, 30-40 gallons for anywhere from $8 to $14 depending on size and type. I buy these because they are something we will have a use for in the future. We normally buy grain in bulk anyway and most of the bags last a few years.

 

For beans and things that are in the smaller, biodegradable bags we use 2 liter soda bottles. We only drink a bottle a week, but I've been saving them for a few months and each ones holds about 4 pounds or beans. We have a few of the food quality storage containers, but they're hard to come by in our area.

My dad lived through the last depression and growing up we always had a months worth of food in storage. Dh and I have always followed that principle, but we only buy what we would eat anyway. We don't stock up for months, but just for unexpected changes in the food supply.

[Cheryl in NM]

One thing about food storage that it seems some of you are forgeting is that it needs to be rotated. about.com has some good articles, they are LDS in nature, but the mechanics of food storage are practical. Basically, you eat from your food storage so that it is constantly rotated. You don't need to stick only to your food storage, but don't just let it sit there. All flour, sugar, pasta, rice can be kept in a freezer. You don't need to keep a lifetime's worth of this stuff. If there's a catastophe no homeowner's association can keep you from living off YOUR land anyway. I'm speaking of a disintegration of society here, of course.

 

My point is...don't just go spend a bunch of money on food, throw it in containers and forget about it. Educate yourself so that you DON'T waste your money.

 

One more thing, mice can eat through those Rubbermaid tubs. We thought that was the best solution for our animals feeds, imagine our surprise when we went out to feed and there were holes in the tub and mice jumped out of the tub! Pickle buckets can be used as they are food grade and there is a way to get the pickle smell out of them, but I don't remember where I saw it.

[amary]

For city dwellers, I would really encourage you to look into sprouting mung beans. They are simple to do in a plastic pitcher and will be at least one source of very nutritious and tasty vegetables. They cost about $1.25 a pound at our Asian market and are the easiest bean to sprout. I pour a half cup in a plastic juice pitcher, rinse with water and then soak for 24 hours. Dump out the water, rinse, drain and put in a cool dark spot. Rinse twice a day until the sprouts are about 1.5 inches long or however long you like them. The hardest part is remembering to rinse them.

[Quiver0f10]

We do pay $25.00 a year to use the library in the big city (about 1 hour drive). We check out lots of books at a time (up to 99--our limit). The library trip is a big deal (we did it yesterday). It uses gas, but since we are so frugal with it otherwise, it is our splurge.

 

How often do you go to the library?

[Tutor]

What we are doing:

 

1. Looking at buying a house. We qualify for about a $50,000 mortgage (excellent credit with lousy income stinks), and around here we can get a 3 bed, 1-2 bath on 1-3 acres for $35,000-$50,000 if we ask around and don't mind a light fixer-upper. Having our own place would allow us to put in a nice garden and have lots of room for outside recreation and other money-saving or money-making endeavors.

 

2. Paying off all other debt... almost done!

 

3. Taking part in PariSarah's 100 species challenge and focusing on edible wild plants. We found a crab apple tree in the woods near our rental house, so we are going to ask our landlord's wife to teach us to can crab apple jelly.

 

4. We are going to buy ds a fishing pole so he can fish in the nearby ponds, lakes and creeks. (Being a minor, he doesn't need a fishing license, but dh or I may get one anyway. We're looking into that.)

 

5. Personally, I'm going to learn to like cooking and eating fish. :D

 

6. Look for a more fuel efficient commuter car for dh (his current commute is about 4 miles each way) then look into converting the Suburban to diesel then homemade biodiesel if we can get some local restaurants to let us take their used fry oil off their hands. (This won't be possible unless we own our own place, though.)

 

7. Keep homeschooling so we are more flexible to move with job availability as necessary when dh is done with school (or the school retracts its stipend offer... which we are hoping won't happen). Dh is also just starting his second year, but already beginning on his thesis in an attempt to graduate sooner.

 

8. Starting a food coop with some friends so we can buy bulk staples (flour, sugar, grains, legumes, rice, spices, etc) at a discounted rate from the nearest health-food store/ organic source in a city 1.5 hours away with the least expenditure of gas and purchasing of packaging possible.

[lynn]

We have a couple months supply of food, vitamins, deoterant, soaps, paper products etc. We just don't want to have to run out when rumors start that the bread truck is running today or whatever will cause a panic or chaos amongst those that aren't planning for problems.

[Guest Virginia Dawn]

You know what, I started making mental list of hand tools that are useful whether or not there is any kind of problem. These are things that don't need electricity but that used to be quite common.

 

For example:

Hand held can opener

hand beater (you know the kind with the crank)

dust mop

carpet sweeper

hand tiller

rotary lawn mower

hand powered radio and flashlight

mortar and pestil (sp?)

coffee grinder

percolator

galvanized wash tub

cast iron spider (covered pan with legs)

cast iron griddle

 

I've even thought of creating an outdoor brick fire pit in our back yard that can be used year round.

 

I think very few of these would go to waste if all the doom and gloom predictions came to nothing.

 

Anyone want to add to the list?

[amary]

hand tools that are useful

-two man hand saw for cutting wood

-carpenter's brace

[Jenny in Florida]

OK, I for one was enjoying this thread as it has the potential for being a way to share good ideas for preparing for an economic downfall - regardless of the cause. I would rather not have it become a political discussion. Is anyone with me on this?

 

100%. Thanks for being the one to speak up.

[Tracy in Ky]

How often do you go to the library?

 

We go probably about every 5 weeks or so. It varies. I have family in the city, and some of my doctors are there, so when we have family or doctor obligations I go more often.

 

Yesterday I went because dh needed a part for the automatic chicken plucker that he is building. So, altogether we went to the hardware store, 2 libraries, the grocery (three of them--to get bargins), a friend's house (to pick up some books), Goodwill store (to see what they had), the bank, the gas station, and I took ds to church and picked him up. It took several hours, but I got a lot done on that trip to our small town and the city :)

 

Boy, was I tired last night. ha

 

Blessings,

Tracy

[Quiver0f10]

We go probably about every 5 weeks or so. It varies. I have family in the city, and some of my doctors are there, so when we have family or doctor obligations I go more often.

 

Yesterday I went because dh needed a part for the automatic chicken plucker that he is building. So, altogether we went to the hardware store, 2 libraries, the grocery (three of them--to get bargins), a friend's house (to pick up some books), Goodwill store (to see what they had), the bank, the gas station, and I took ds to church and picked him up. It took several hours, but I got a lot done on that trip to our small town and the city :)

 

Boy, was I tired last night. ha

 

Blessings,

Tracy

 

No wonder you were tired! I am tired just reading about it LOL. Thanks for sharing :)

[Mekanamom]

Anyone want to add to the list?

 

Well, I would add a butter churn. Except that for a little hand-cranked butter churn, the going price is over $50!! I guess they're being sold as antiques and/or novelties. Look at this brand new one... $150!

 

That's ok. I can just hand glass jars to the kids with a couple clean marbles in there to churn butter. Still. I want one of those nifty little butter churns... for a reasonable price!

 

I'm with ya on the useful hand tools that would come in handy no matter what. :)

[Paula in MS]

I think that the economists are split as to whether we are in a recession or not at this point, much less a depression. I do know that people's expectations of what the economy is doing will drive what the economy does to some degree. Since we "may" be on the verge of a recession, it is something to think about, but I don't think we should panic or expect anything yet. We are in a war. There is usually a period of high inflation with a war. This is nothing unusual. The last thing I heard, the economy is still growing...very slightly, but growing. I'm going to try to stay positive (and grow my own vegetables :lol:). What I'm trying to say is, "Let's not panic....yet."

 

Paula

[RebeccaC]

I think that the economists are split as to whether we are in a recession or not at this point, much less a depression. I do know that people's expectations of what the economy is doing will drive what the economy does to some degree. Since we "may" be on the verge of a recession, it is something to think about, but I don't think we should panic or expect anything yet. We are in a war. There is usually a period of high inflation with a war. This is nothing unusual. The last thing I heard, the economy is still growing...very slightly, but growing. I'm going to try to stay positive (and grow my own vegetables :lol:). What I'm trying to say is, "Let's not panic....yet."

 

Paula

 

:iagree:

[Cheryl in NM]

I think that the economists are split as to whether we are in a recession or not at this point, much less a depression. I do know that people's expectations of what the economy is doing will drive what the economy does to some degree. Since we "may" be on the verge of a recession, it is something to think about, but I don't think we should panic or expect anything yet. We are in a war. There is usually a period of high inflation with a war. This is nothing unusual. The last thing I heard, the economy is still growing...very slightly, but growing. I'm going to try to stay positive (and grow my own vegetables :lol:). What I'm trying to say is, "Let's not panic....yet."

 

Paula

 

I don't think anyone on this thread is in a panic. OP was just asking how we are preparing. It's always good to be prepared for an emergency.

 

BTW...it's be stated several times in this thread that it be kept going for preparation ideas and not the reason for an economic depression. I like seeing what other people are doing; it give me ideas, whether I believe there's an impending depression or not.

[Murphy101]

What I'm trying to say is, "Let's not panic....yet."

 

I think this is a misunderstanding of many people's opinion on this or on many people's current situation.

 

I'm not at all in a panic, but for a certain segment of our society - there is no question THEY are in a recession already. I'm part of that segment. Money is very tight for us and we don't foresee that changing relatively soon. We too hope it won't get worse, but it's already tight enough that we need to stretch every penny we have as far as possible. That's all we and others are trying to do - make it thorugh a rough patch. However long that rough patch may become or for whatever reason it may be caused. We've always been very frugal by most people's standards, so this rough patch is really asking for some out of the box methods.

 

We have always bought all our non grocery items once a month in one month supplies. I have a laminated list of items that we need to buy every month and in what quanity. I have written the cost for many of them down so I know what's a good deal or not and to stock up if I can afford it when there's a sale. I also note the brand, because sometimes a certain brand is well worth the cost if it works better or lasts longer.

 

We buy vinegar and baking soda in bulk! With the exception of dishwasher detergent, vinegar by itself can clean & disinfect just about anything (it's even better or just as good as bleach most of the time!) and anything it can't do by itself can be done by adding the scrubbing power of baking soda. Right now the laundry detergent at Sam's/Costco is cheaper than using vinegar and baking soda for my large family, but we actually prefer the V&B. About 12 years ago my dh was laid off work and we had major health issues. The combination went we had to swallow our pride as get food stamps, there was more than one occassion that being able to use food stamps for V&B really helped out in the cleaning supplies department. Since then, we've rarely felt the need to purchase other cleaning materials. Vinegar takes the smell out of just about anything, so I imagine it'd work on those pickle buckets?

 

Along that line, one big bottle of liquid fabric softener lasts me nearly 2 years because I soak cello sponges in approx 1 cup of it over night and use those like dryer softener sheets. If you want more scent or more softness, just soak them more often or use more than 1 sponge in the load.

[Cheryl in NM]

We buy vinegar and baking soda in bulk! With the exception of dishwasher detergent, vinegar by itself can clean & disinfect just about anything (it's even better or just as good as bleach most of the time!) and anything it can't do by itself can be done by adding the scrubbing power of baking soda. Right now the laundry detergent at Sam's/Costco is cheaper than using vinegar and baking soda for my large family, but we actually prefer the V&B. About 12 years ago my dh was laid off work and we had major health issues. The combination went we had to swallow our pride as get food stamps, there was more than one occassion that being able to use food stamps for V&B really helped out in the cleaning supplies department. Since then, we've rarely felt the need to purchase other cleaning materials. Vinegar takes the smell out of just about anything, so I imagine it'd work on those pickle buckets?

 

Along that line, one big bottle of liquid fabric softener lasts me nearly 2 years because I soak cello sponges in approx 1 cup of it over night and use those like dryer softener sheets. If you want more scent or more softness, just soak them more often or use more than 1 sponge in the load.

 

I love your ideas! I think it was vinegar that I heard about cleaning the pickle buckets, but the link came from someone on this website.

 

How much vinegar & baking soda do you use for your clothes? That would save SO much money!