Most preppers and survivalists usually think of food storage, first aid, wilderness survival, and other skills when they think of being prepared. One of the most crucial points is often neglected.
Here’s the truth: Even during tough times, you absolutely need money. In fact, now more than ever before it becomes a priority. During the recent Hurricane Irma, there were reports of price gouging and bottles of water being sold for $99.
This can and will happen when items are scarce. You must be financially prepared to weather any storm- pun fully intended. Let’s look at a few reasons why you need an emergency cash stash.
If there’s a hurricane alert and you’re told to evacuate by the authorities, it’s best that you listen to them. The same applies for any possible crisis. One of the best ways to escape the effects of a disaster is to get away from the area that’s about to be affected.
While driving is one way to get out, there are still risks that you might get caught in the chaos. The best way to escape is to go to the airport and take a flight out to another state or location that’s not in immediate danger.
Airfare costs money. If you have a family, the costs add up quickly. If you have family elsewhere to stay with, you’re lucky. If not, you’ll need to pay for a hotel or motel. That requires cash too. By now, you should be starting to see the importance of an emergency fund.
If you’re constantly broke, it’s going to affect your preparations. You can’t buy supplies and stores if you don’t have the funds. You’ll need to trim off all frivolous expenses and spend less than you earn. Use the extra money to buy the food supplies to store in your house.
You may also want to retrofit your house and strengthen it so that you can hole up inside in the event a category 1 or 2 hurricane is passing by. Reinforcing your shelter will cost money.
It’s best to keep your emergency cash in a safe at home. During an emergency, you might not have access to a money dispensing machine and the banks may be closed. You can also use cash to buy items you need from your neighbors and others should you find yourself in that position.
A common mistake many preppers make is that they spend all their extra money on supplies and other equipment. Always put aside a portion of your money for your emergency cash. You can spend the rest on your stores.
If you need to evacuate your home because of a tsunami alert, all the stores you have stocked up will be washed away. The emergency cash that you take with you is what’s going to keep you going.
It’s a good idea to reduce your debt, watch your expenses, and save up till you have a tidy sum to tide you over in an emergency. Sometimes the best way to deal with a crisis is to get away from it, and your emergency cash and savings will help you to do that. Like the old Jamaican proverb says, “Save money and money will save you.”