When the Economy craps itself out completely then modern currency will become effectively worthless.
In order to get good and services you will have to learn how to barter.
So what skills can you learn now to barter with if the economy fails??
Growing your own food
Don’t learn it because it’s the latest cool thing – this is a skill we used to know and have forgotten.
Check out the first part of this series for for info.
It’s one thing to buy and store extra cans of beans, but do you know how to can your own fruit, or vacuum-pack or dry other goods?
This is a valuable skill to have no matter what but in a total economic collapse knowing how to preserve food will be a potential live saving skill (you might not starve in winter for example!)
Very few people know how to chop down a tree or even spilt wood with just an axe.
Knowing how to do this properly could make you a valuable asset in your community.
Cooking and preparing food from scratch
Again, it’s one thing to be able to make a good dinner, but can you make your own granola? How about catch, cook and clean your own fish? Most people don’t even know how to make their own bread.
Make a Fire With No Matches or Fuel
This should be #1 for obvious reasons. But it’s also a great skill to have if you wanted to barter with someone for some other skill.
Catch and store your own rainwater
Just because the economy-as-we-know-it fails doesn’t mean you’ll be living in the woods in the middle of nowhere – but this would still be a really valuable skill to have which you could also teach others.
You can make solar stills to convert sunshine and humidity into water and catch it in a cup. This is so simple and basic we should all know how to do it.
Another basic “girl/boy scout” type of skill, but very handy, especially if you ever really needed it. Not all knots are equal!
Sewing, Knitting, Crocheting
Sewing sounds boring to me, but I can do it(if I have to!). Some people can’t though.
Far less people can knit.
Sewing for mending purposes is a really basic skill that would be easy enough to teach.
If you had to, you could make your own mats, rooves, and blankets if you know basic sewing and knitting skills.
Stay tuned to Step 4 on How To Survive The 2011 Economic Collapse.
That’s right folks!
Now is the time to pay off as many of your debts as possible in preparation of the coming economic collapse.
Try to allocate a portion of your disposable income to paying off your debts completely, rather than paying only the minimum payments and carrying a revolving balance from month to month.
If economic calamity leaves you with few monetary resources, you’ll want to avoid aggravations from debt collectors and lawsuits from creditors you cannot afford to repay.
Get into the habit of using cash instead of credit cards to help avoid aquiring new debt.
Concentrate on paying off high-interest debt, loans with adjustable rates and unsecured debts first.
Sell expensive vehicles that have loans to pay off what you owe, and buy cheaper replacements using cash.
In order to survive a total economic collapse, you need to have assets, not liabilities.
Please Note: If you and your family have limited or modest income then obviously storing food and other survival resources is a higher priority than paying down debt. No point being debt free if you starve within a couple of weeks of the Collapse!
. If you have enough income then try to pay off your debts as fast as you can.
Credit card debt is the major debt that you should be focusing on as the interest that is tacked onto it by the Credit Card Companies can cripple you if you don’t hit it on the head.
Remember though, if you have a limited or modest income, focus on storing food and other supplies first, debt second.
. Do everything you can to keep your job. As long as you have income coming in, you’ll be okay. In a growth economy, it’s much easier to find a new job, but this isn’t that kind of economy.
. Renegotiate your credit card payments or interest.
. Stop contributing to your children’s college savings plans. (You can start this up again when the economy improves.)
. Set up a budget. Go through your expenses with a fine-tooth comb and postpone, eliminate or reduce any that you can.
Part 3 Coming Soon!!