Wednesday, August 26, 2015

Prudent Prepping: Savings

The dust has settled and the First 72 Hours have passed. Now we concentrate on what to do in, and how to plan for, the long term via Prudent Prepping.

Preparing for a Rainy Day

I usually write about how I'm building an emergency supply of items to sustain myself and others through a disaster -- hopefully one of short duration. My priorities are the standard prepping items of shelter, food, and water. The one thing that I haven't written much about, though, is the money needed for buying supplies during the emergency.

While the items I have stored will feed me and my friends, there might be a time where power will be out, ATM's won't work, and the stores will only take cash.

Perhaps one person in your group has let their car get low on gas, or is short on cash and needs to pick up needed supplies like a prescription. Having cash will get you through this situation, reduce stress, and allow everyone to worry about one less item on the survival checklist.

I've been working to get cash into every one of my bags, with the goal of $50 in the truck and EDC bags and more in the BOB. The EDC goal has been met, but the BOB and home cash fund are lagging. I've been under-employed and extra cash has been tight, so the funds are building up slower than I'd like -- but they're getting there.

Precious Metals
Now before you mistake the light-colored sections of my hair for aluminum foil, hear me out: there might be a time when paper currency will no longer be worth anything, and metals of some type will be trusted and used instead. And if I'm wrong, silver will always be valuable and never 'worth' nothing, even if the dollar 'value' goes up and down. So this is a prep against inflation, if nothing else.
This is also another way for me to save money in a form that is less convenient to spend than dollar bills: when I'm looking at some quarters that cost $20 and think about how much trouble it will be to convert back into a $20 bill, I don't even bother to try.

My Preps
Some of the silver coins I have were given to me by my grandfathers and I've kept them ever since. Most of the coins that I have saved over the years are ones I found when they were easy to find in my change. A deliberate plan to buy coins only started in the last 10 years, and some of the things I buy on occasion are pre-1965 silver coins -- I have a friend of a friend whose family has a pawn shop where I buy coins (mostly dimes and quarters) for the current daily price for silver.

I am planning on Bugging In, so portability of coins is not a factor. If it came time to leave, though, while 10 lbs of silver is still 10 lbs, it takes up a very small amount of room in the car.

Your Preps?
There are many different opinions on what to buy, or even if you should have silver or gold. Old silver coins that have been in circulation; gold coins; gold bars, U.S. minted or foreign; the options are pretty much endless and are as open to discussion as "What brand and caliber of firearm is best?"

If you decide to buy coins, and don't have the cash to buy large amounts, rolls of 50 silver dimes can be had for very little. You can also try to find a local dealer who will sell you individual coins.

The Takeaway
However you do it, and with whatever type of money, cash is an important part of prepping and needs to be as carefully planned out as food, water and shelter.

  • Five pre-1965 silver quarters; $30. (Better than average grade; for a collection; I usually pay half this price for junk silver. )

As always, if you have comments, suggestions or corrections, please post them so we all can learn. And remember, Some Is Always Better Than None!

NOTE: All items tested were purchased by me. No products have been loaned in exchange for a favorable review. Any items sent to me for T&E will be listed as such. Suck it Feds.

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