Closed down Chinese ports, congestion at ports around the world, labor shortages, the FED pumping money like nobodies business and news about all kinds of shortages will all contribute to prices going up for goods and services. If we don’t have a TEOTWAWKI moment like many prepare for, can your finances handle the slow creep of prices going up?
I’ve mentioned this before on the podcast, but you used to be able to go and spend $100 at the grocery store and come home with a nice pile of groceries. That is not the case anymore. What you see is prices are going up or packages are getting smaller. It’s one or the other. And this will continue to happen!
So, how long will it be before you need to start cutting corners and truly watching what you spend? Some of you are reading this and saying, “Todd, I’m already doing that!” I know this because I hear about it all the time from listeners and readers. But others are ok right now and can eat the increase in prices, but for how long?
The point of this is to start thinking ahead now. What do you need to start doing to be able to provide for your family and those in your care?
Here are some ideas.
Start Looking for Recipes that You Can Make from Scratch.
Food is important! Many people eat out or buy ready-made meals. But if this gets too expensive, you can make meals from scratch. Yes, it takes longer and requires more preparation, even when you are tired and don’t feel like it, but if it means eating, you want to do this.
This recently came up in the Prepper Website Exclusive Email Group. One member mentioned how they didn’t grow up with a mom who cooked and didn’t really know how to cook from scratch. The advice was to search for 3-5 inexpensive meals and get really good at them. Then, from there, you can always add to your repertoire of dishes. The internet is full of easy and affordable recipes to make. I shared this three ingredient quick bread recipe in the Sat. Prep two weeks ago (sign-up here).
Find Free or Inexpensive Recreation Activities
This is a no brainer. But the fact is, some people might sit around moping around because they can’t spend the money they used to on (fill-in-the-blank). Instead, replace those activities with free or inexpensive activities. Are you and your friends used to spending a night out on the town, going for drinks, out to eat, to the movies, etc…? Instead, have them over, make a homecooked meal (see the above paragraphs) and play a card game.
My family loves to play Phase 10. I will admit, I hate it when people are on their phones and try to play at the same time. I don’t want to remind someone that it’s their turn. So maybe, you have a phone-less evening. What a concept!
You can also enjoy nature, read a book, visit the library, have a movie party by connecting your laptop to your TV and watching something on YouTube (because you canceled all your streaming services to save money).
There is a guy I work with that lost around 80 pounds during the Covid Lockdowns. He used the time at home to workout and start eating healthy. It’s been about 7 months since I first saw the new version and he has kept it off.
The fact is that staying healthy keeps you from going to the doctor, getting on medicine or dealing with other factors which all cost money. A period of economic decline, along with the onslaught of all the other news, can be very stressful. You need to be healthy, physically, mentally and spiritually!
This part isn’t about savings or your finances necessarily. This part is about your safety!
As prices go up, there are going to be others who start to get desperate because they can’t have the things they are used to. More than likely crime will go up! On top of everything else, you should maintain good situational awareness of what is going on around you, not only when you go to the store, but what does your neighborhood or community look like?
I wrote about this in Failed Situational Awareness – Missing the Slow Slide of Your Community.
If you are not struggling financially right now, you are blessed! But you should really think about what would happen to your finances IF/WHEN prices keep going up and you start feeling the pinch in your pocketbook. What are you going to do? What will you change? How will you adjust?
For more money saving ideas, check out – 60 Ways to Save Money NOW (Without Too Much Effort) For Saving, Investing or Buying More Preps.
I would love to hear some of your thoughts in the comments.