How to Prepare for World Economy Collapse

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Gold coin investing
Gold coin investing (Image: Photo from sxc.hu/rolve)

The thought of world economy collapse is scary, but as markets plummet, unemployment skyrockets, and experienced analysts make dire economic predictions, world economy collapse seems increasingly likely. Some forecasters are predicting that America might become the first "undeveloped" nation in the world. Whether you believe this is sensationalistic or not, what's certain is that the implosion of world financial markets continues, and we'd all do well to prepare for world economic collapse.

Only buy what you need. Don't spend a penny more than what you must, and be frugal in what you buy. Buy used whenever possible, and go for quality over quantity. Save, re-use, and do without when you have to. Remember all those stories about your grandmother walking 10 miles daily barefoot in the snow? We need to do the economic equivalent. Get some mettle and use the wisdom of our elders to learn to be frugal and spend wisely.

Get out of debt and start saving money. The dollar is sure to plummet even more in the face of world economy collapse, and evidence shows that gold prices rise when the dollar decreases in value. Investing in gold may be the way to go rather than cash savings. Gold coin investing can help you preserve the value of your money if the dollar sharply plummets. Gold retains its value, and can be traded for stronger currencies or used to purchase good and services. If there is no extra money to pay down debt or start saving, focus on necessities like housing, food, and supplies.

Be creative about sources of income. As more large corporations go under and thousands of jobs are lost, think outside the box for ways to bring in additional income. Examples of ways to earn extra money include direct sales, online writing for upfront or residual pay, selling high-demand items online, and selling items on consignment.

Consider a career switch, and get the necessary training while you can. Jobs in health care and energy conservation are expected to thrive even with global economic collapse.

Stockpile food, water, and emergency supplies. Dry goods like grains and legumes, along with canned goods, bottled water, water purification tablets, and first aid supplies should be kept on hand in case of emergency.

Learn to be resourceful and do things yourself. From home plumbing to growing your own food, learn to provide for your own needs as much as possible. Start now to learn how to create and tend a food garden, and consider spending time studying up on home repair and other useful skills.

Network with friends, family, and neighbors. Build relationships within the local community so that you can rely on them - and they on you - in case of world economy collapse.

Learn to barter. Have on hand important goods like personal care items (soaps, razors, deodorant), non-perishable food items, tools, first aid supplies, and other necessary supplies. Consider what you know. Do you know how to garden? Are you skilled in holistic health techniques? Do you know a lot about home repair? These skills are not only valuable for you, but you can use them to barter and help others in case of world economic collapse.

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