No discussion on survival could possibly be complete with covering the topic of finances. This may not seem important at first glance, but being prepared for a natural disaster as well as a financial disaster have at least one thing in common: Forethought.
For example, the time to prepare for a storm is not when one is forecast, per se, because all the necessary tools and resources may not be available as everyone else is trying to prepare at the same time. The time for storm preparation is when everything is calm and all the required tools are relatively easy to obtain.
The same thing goes for preparing for a financial storm. For example, the time to prepare yourself to find a new job is when your current job is good and relatively stable.
If you wait until you’re suddenly unemployed then you’re scrambling trying to put together a new resume, references, certifications, etc. When employed, always ask yourself, “Do I have everything I need to begin job searching tomorrow, if I lose my job today? If not, it may be time make sure that resume is updated.
Of course, having a job is not the only source of income, just the most common. There are other types of income, that are discussed in this section, that also require understanding and preparation.
However, it must be stated, that those of us here at TheBackYardPrepper are not financial advisers and we will not hand out specific financial advice. This is merely a discussion of the different types of income and the encouragement to review your own financial situation and take appropriate steps to protect you and your family.
Those steps will depend on your specific situation and personal preferences.