Monday, April 25, 2022

Surviving Super-Inflation

By Tim Gamble

Unless they are in complete denial, and some folks are, everyone realizes that we are in a sustained period of very high inflation and supply chain problems. In today's article, I want to examine a very important question: How can we survive an extended period of super-inflation and the accompanying shortages of various commodities and consumer goods? The following is a list of some of my ideas. 

1- Get your finances in order. Reduce your living expenses as much as possible. If you are in debt, try to pay it off. Refinance larger debt (such as mortgages) into low fixed rate loans if possible. Look for ways to increase your income. See my article Financial Preparedness: Back to the Basics for many specific ideas including two major debt-busting ideas. 

2- Don't add to your debt. You cannot "keep up with inflation" by pulling out the credit cards. Even with inflation as bad as it is, most credit cards have even higher interest rates. Besides, debt is slavery. "The rich rules over the poor, and the borrower is the slave of the lender." -- Proverbs 22:7

3- Stock up on canned & dry foods, medicine, soap, toothpaste, first aid supplies, matches, firewood, shoes, clothing, and any other necessities you might need that will store for at least a year without spoiling. The phrase "Stock it to the rafters" has become popular in prepper circles recently for good reason. See my article Survival 101: Stockpiling as a Preparedness Strategy for more ideas. 

4- Raise a portion of your own food by planting a garden. Consider planting fruit & nut trees and berry bushes if you have the room. If you live in an apartment or condo, consider participating in a nearby community garden (or starting one). Consider getting into the popular hobby of backyard chickens. As the hobby of backyard chickens has grown in recent years, many municipalities have adjusted their rules to allow for small non-commercial flocks inside the city limits - check to see what is allowed in your city. Two articles you may be interested in:

5- Make improvements to your home’s energy efficiency to reduce the impact of high energy inflation. A few years ago, I wrote an article explaining how I was able to reduce my home's energy use by about 60% on a month-by-month basis compared to the same month of the previous year. Energy efficiency is the name of the game, and can save you LOTS of money over the long-term. 

6- Take steps to improve your vehicle’s mileage to reduce the impact of rising gasoline prices. Consider trading to a more fuel efficient vehicle. See my article Three Things You Can Do To Save Big At The Pump

7- Take care of your health so that you are less likely to need expensive medical treatment. Check out this very interesting article (even if I am saying it) on taking care of your health in the fullest sense of the word: Achieving Menos - A Goal For All Preppers.

8- Consider becoming a farmer pr homesteader. There is a lack of farmers in our country and agriculture is likely to be the hot industry over the next few decades. This could also be a major step in your own journey to "Get out of Babylon" or "Come Out Of Her My People (COOHMP - hat tip to Pastor Joe Fox of Viking Preparedness) 

9- Think about you and your family’s personal security. Crime and civil unrest are likely to increase. Take steps now to protect yourself and your family.  Check out my article Some Thoughts on Self-Defense.

10- Investing in gold, silver and other commodities could be quite profitable during a period of very high inflation. Gold and silver investing should be on your “to do” list, but it should be near the bottom after you’ve taken care of other fundamental areas first. Remember, wealth is not wealth if you owe it to someone else. More thoughts on this: Precious Metals and the Prepper.

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