Financially Prepped? The Importance of an Emergency Fund.
- Thread starter gunnerbob
- Start date
dcselby1
Denny
OK, I've put some cash aside just in case. I've also purchased some junk silver, dimes, quarters and halves. I have a pretty good idea on how much cash to have, but if the S were to HTF and it looked like it would last a while I have no idea how much junk silver I should have. I realize that the cash would not be worth anything after the initial "crash," or whatever.
Anyone have any ideas on this?
Another thing I've wondered is HOW MUCH is a dime or quarter going to be worth in a barter situation. I KNOW, you can't eat silver, but the situatshouldhstabilizelize in time and there should come a time when precious metals would be worth something again.
So, I have the bband aidsndaids and bullets and JUST to cover all the bases, how much junk silver should one try to accumulate?
BTW, I'm also buying silver as an investment for the future, so if the S DOESN'T hit the fan, I'm betting that the price of silver will climb and my heirs will be happy.
Anyone have any ideas on this?
Another thing I've wondered is HOW MUCH is a dime or quarter going to be worth in a barter situation. I KNOW, you can't eat silver, but the situatshouldhstabilizelize in time and there should come a time when precious metals would be worth something again.
So, I have the bband aidsndaids and bullets and JUST to cover all the bases, how much junk silver should one try to accumulate?
BTW, I'm also buying silver as an investment for the future, so if the S DOESN'T hit the fan, I'm betting that the price of silver will climb and my heirs will be happy.
apvbguy
New member
IMHO cash may not be worth squat after a serious or prolonged SHTF event, I think stockpiling popular rounds of ammo would be better than investing in precious metals or diamonds, while they might hold their value, you cannot cut a diamond to buy a hunk of meat.
ammo, medicals and canned food would become the coin of the realm.
ammo, medicals and canned food would become the coin of the realm.
gunnerbob
PEW Professional
The main reason I see to hold on to cash is in case there are bank runs, not a full blown collapse, just a small taste of it. In this situation, your money would still have value, not as much, but some. Perhaps enough to pay the bills for a month or three while Fed notes are still being accepted as payment. If we see a true collapse, fiat currency will be worthless... well, it can still start fires or wipe sh!t off your ass. That's where food, water and medical will come in handy... also, things like bleach, foot powder, propane, toothpaste, asswipe, fiber pills, etc... too many to list. Anyway, PM would only have value after the initial collapse and there started to a form of community with trade and barter. Until then, hold tight to the junk silver. You may come arcoss a "prepper" if you have to "bug out" who will see the value in PM and trade there on the spot. The possibilities are almost endless of how anything could go... that's why one has to prepare for as much as they can, when they can.
dcselby1
Denny
Thanks for your responses. I have plenty of food, medical, barter items, water and beau coup bullets! All of that was my first priority, IMO.
Now I'm at the stage where I'm tweaking and trying to cover other bases. I have a good amount of cash, am building up the junk coins and was just trying to get an idea of when I have "enough."
As far as cash is concerned I think that in any crises where there is no power, for example, and it's been a few hours or a day, you will NOT be able to use plastic. Once people figure out that the power's down for good, or a goodly while, they will demand cash for gasoline, say, and most likely charge a premium.
Once a few days have passed, you're right, cash will be worthless and at this point, silver MIGHT be useful, but won't be as useful as some other barter items.
Again, I'm just trying to get a handle on what others consider a decent stash of cash and/or silver.
Now I'm at the stage where I'm tweaking and trying to cover other bases. I have a good amount of cash, am building up the junk coins and was just trying to get an idea of when I have "enough."
As far as cash is concerned I think that in any crises where there is no power, for example, and it's been a few hours or a day, you will NOT be able to use plastic. Once people figure out that the power's down for good, or a goodly while, they will demand cash for gasoline, say, and most likely charge a premium.
Once a few days have passed, you're right, cash will be worthless and at this point, silver MIGHT be useful, but won't be as useful as some other barter items.
Again, I'm just trying to get a handle on what others consider a decent stash of cash and/or silver.
gunnerbob
PEW Professional
Absolutely, buy the whiskey and vodka for barter and emergency medical use. And, in such depressing times... a drink would be nice.
How much is enough...? That's very tough to nail down. Me, I'd try for 1-2 months worth of your bills... however much that may be. You're right, if the power goes out... no plastic and no checks, cash only. The prices will quickly soar and people will run dry on cash in short order. There, junk silver may have value, but likely would be the last thing on people's minds. Things such as fuel, food and ammo would be on the must-have lists of most people. Only trade your items for stuff you must have! In this type of scenario, you should be quicker to trade lead than anything else. Be harsh, be very harsh... if people approach you or your home, tell them to F off! Have your weapons at the ready, always. If you're trying to get out of dodge and you happen to be fueling up... you park, post security on the vehicle, go inside and pay with caution and return to pump while security is still up. If you're approached by someone with deadly intent, drop 'em. Take no chances, it's you and your family... or them. Be vigilant, be cautious, be ready.
BigSlick
New member
I think if the SHTF money in any form will be useless. Supplies like food, fuel, equipment, guns, ammo and medicines will be the real currency. Now a soft collapse or something limited to a specific region money in the form of cash or precious metals may still get you something. If you have extra supplies you can trade for what you need. I used to think precious metals were gold and sliver but now I believe it will be lead and brass.
dcselby1
Denny
Thanks Gunner and everyone. Sort of what I thought, just a couple of months for bills because if anything lasts longer than that I don't think bills will be a worry. One thing I didn't mention, though, was that I'm trying to not be so dependent on the banks if you know what I mean. If we lose the grid, for example, no money will be available that you do not already have on hand. Period. If it is a prolonged scenario then it won't matter how much cash you have, which by the time people realize it, most likely it will have been spent for essentials, anyway.
The silver I have will serve two purposes. One, for barter IF it will be accepted. Two, as an investment for the future, most likely for my heirs if the S doesn't hit the fan.Thanksks again for the advice, folks.
TroutStalker
New member
Many of the people in this country have not seen a true SHTF situation myself included. The great depression may have qualified but will look like sunday mass compared to what could happen. It will be ugly IMHO. Look at what one piece of legislation is doing to the gun and ammo industry. People may call it getting prepared. Looks a little like minor panic to me and maybe rightfully so. Just imagine what will happen to goods(ammo, food, etc...) when the dollar becomes worthless due to hyper inflation from this administration's love of spending. Just keep printing that money and people will watch their life savings turn to dust because of the devaluing of the US dollar. Throw in a president hellbent on eliminating the freedoms we are used to and presto, a recipe for disaster. That is when you will see true panic set in.
What should your plan look like? All currencies are pegged to the dollar and the dollar to gold. A months worth of living cash will be enough in my opinion. At that point, everything that can be bought with cash will be gone. Bare shelves at the stores and your cash won't be worth much anyhow. Just make sure when old
Mother Hubbard goes to your cupboard it isn't bare!
What should your plan look like? All currencies are pegged to the dollar and the dollar to gold. A months worth of living cash will be enough in my opinion. At that point, everything that can be bought with cash will be gone. Bare shelves at the stores and your cash won't be worth much anyhow. Just make sure when old
Mother Hubbard goes to your cupboard it isn't bare!
apvbguy
New member
while most of us have never been in or seen a shtf scenario in person many of us had brief periods of what things would be like in on, anyone in FLA who has been through a severe hurricane, or those people in NY/NJ who went through the aftermath of sandy, people in SF CA who have been through that earthquake in 1989, disruption of the life as we know it happens fast and can be devastating to those who ignored the warnings to be prepared. as for stores, just keep this in mind, 1. stores will be cleaned out of food within an hour of something bad happening and 2. if they manage not to be cleaned out most food stores in the US have at best a 3 day supply of goods on hand in a SHTF scene the supply chain will not exist and unless you live near a big food warehouse that you can raid you can forget about getting any new supplies.
gunnerbob
PEW Professional
Like firearms, PM will always have value... always. PM can be passed down to your kids, grandkids, etc... like firearms. If the S never HTF, sweet... you're investment in both will have been well worth it anyway. Tangible assets are what you need, use fiat currency only when it's still accepted but never put faith or your savings in it.
nontechguy
New member
Two points from previous posts.
1. The dollar is not linked to gold. It is only linked to the "full faith and credit" of the US. That's becoming less and less as we go forward. We went off the gold standard more than 40 years ago.
2. I'm not so sure I would want to trade away guns or ammo unless I was very sure of who I was trading with.
1. The dollar is not linked to gold. It is only linked to the "full faith and credit" of the US. That's becoming less and less as we go forward. We went off the gold standard more than 40 years ago.
2. I'm not so sure I would want to trade away guns or ammo unless I was very sure of who I was trading with.
gunnerbob
PEW Professional
Again, keep enough cash on hand to float for a few weeks to maybe two months if people are still accepting it. After that, you should have other means of barter/trade. Firearms and ammo should be the last thing you barter/trade with, and yes... only to trusted people and from the position of strength.
We have $1000 minimum emergency fund, not even for a shtf situation, but just every day life. We are working on 3-6 months in savings. In part because we are farmers and there can be 3-6 months of the year where the farm doesn't bring in income. When we do it is in very large amounts. We know we need to be more proactive in hiding some of that away.
We have pm including silver and gold. Junk coins that may not be so much junk in the future
We have pm including silver and gold. Junk coins that may not be so much junk in the future
gunnerbob
PEW Professional
That's all well and good, you are far better off than many Americans that's for sure. After the dollar collapses down to near zero, your "junk" silver will be THE currency amongst regular people once the crunch winds down and some type of normal world returns.
