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Future Costs Preparedness: What Are Your Plans?
Today’s feature is from Mother Earth News with What steps would you take to prepare if you knew that five years from now everything would cost 10 times what it costs now:
What steps would you take to prepare if you knew that five years from now everything would cost 10 times what it costs now — gas, food, electricity, solar panels, hybrid cars — everything, but your income would not change? What would you do now to be in a better place to cope?
Some thoughts they toss out:
- Find land to develop skills to grow and preserve a good portion of your own food
- Have you considered how you would keep your home warm?
- Would you move closer to work, invest in a bicycle to save on fuel costs?
A pretty heavy topic, but some excellent points to consider. There’s a discussion going on in their forum here that you can participate in: Despair? Determination? Delight? — Let’s Discuss.
I’m curious to know what your thoughts are, do you think we’re trending toward a permanent higher cost of living with lower or stagnant wages or do you think we’re just experiencing a temporary blip and fears over future high costs are alarmist?
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My husband and I are hoping to make the transition to a more sustainable (i.e. homesteading) lifestyle within the next few years. Living in Las Vegas doesn’t make it easy to do that simply because of the harsh climate and its effect on food growth.
But we’re not giving up yet!
Ten times more without increase in income? *gulp* What an interesting question and a nightmarish thought.
Definitely grow more of my own food and forgo meat completely.
I could also see myself looking for like minded people to share my four bedroom house and share living expenses. I heat with a pellet stove now but would most likely try to find a solar battery to run it.
My car is paid for but I bet I would get rid of it. Goodbye telephone, goodbye television (aw, who needs them anyway?)
I do not pretend to know all the ins and outs of the economy and why it does what it does. However, I do believe it is a good idea to be prepared for the worst.
We currently make most of our foods from scratch to avoid “bad things” in our diets with all the processed foods but it is also to help keep the cost of food for our family down. Cooking from scratch and/or making your own “convenience foods” can cut hundreds of dollars off your food bill.
We do live in rural Arkansas and we are trying to develop our “homestead” into a more sustainable environment for our family. We plan to do the following things to move us in that direction. This is not just for preparedness sake but to save money, live more eco-friendly, and less dependent on how the economy is doing.
1. Have a flock of chickens for eggs and later for meat – Done
2. Build raised beds for square-foot gardening or intense gardening.
3. Install solar system to provide for lighting our home.
4. Alternative heat sources – we currently have electric with propane back up.
5. Scooters for transportation – Done
6. Learn valuable skills like cooking from scratch, canning, preserving, harvesting wild foods, etc. – lifelong project.
7. Have goats for milk and meat.
8. Bee keeping – for honey and profit.
We are far from being there now but we move in that direction each month.
If we set out to live under harsh economic conditions and they become a reality, then we have foresight. If those conditions don’t happen, then we have a positive cash flow times ten. So, either way, it’s a win situation.
I think we will have more adult children and their families living with parents, sharing the cost and labor demanded of a stringent lifestyle.
This possibility will be a topic at our dinner table tomorrow. Thanks for your stimulating website. I visit every day.
I do think we are moving toward a higher cost of living with stagnant wages. I don’t want to think it will be ten times more, but… A lot of things have surprised me in the past eight years.
I agree with Mary. Well said. “If those conditions don’t happen, then we have a positive cash flow times ten.”
I live in Mexico so I’m not feeling the squeeze right now. However, I still want to learn how to raise vegetables in pots so I have those skills when and if I go back to the US. If things got really bad, I’d probably go vegan or maybe barter for eggs. I couldn’t bring myself to personally kill an animal, and I don’t want to deal with raising chickens. I’d consider raising fish if I had a big yard.
I’m also really interested in harvesting rain water. I love that idea. However, I don’t think I can manage it now since I live in a high rise building! hehe!
Cost of living has increased over the years. Usually wages also increase. I remember when we had gas wars and paid only 12 cents at the pump. Of course, as a specialty nurse, I also only earned $300 a month. That was good pay then.
Purchase firearms and stockpile ammunition.
This economic cycle is different from those in the past 50 years, as it is caused by globalization of industry and manufacturing. It will start to slow as the American standard of living (wages, lifestyle, etc) decreases and 3rd world living standards increase, meeting somewhere in the middle.
No choice but to deal with it by establishing alternate, diversified income streams, small business, etc.
There are a few in this country that will be self sufficient by growing their own food and making power, but this will not be available to most of the public.
My first thoughts were….”hey, how did people survive in the great depression?” Then it occurred to me that I might want to inquire with any person that might have been raised in a 3rd world country and find out what it takes to survive. America really has ignored how super BLESSED we have been and now we must learn like the others while the tide turns to their favor. Buck up little campers!!! Keep the faith!
Hi everyone!
If anyone is interested in seeking a more self-reliant (homesteading) way of life which may include gardening, small-scale livestock, cooking, food preservation, resource conservation, recycling, frugality, money management, alternative energy, old-time skills, home business, and much more should subscribe to the magazine, “Countryside & Small Stock Journel.” The website is http://www.countrysidemag.com. The website doesn’t do justice compared to a copy in hand, but, will give you an idea of what it is all about. This magazine is a wealth of information. I have subscribed to this magazine for over 15 years and have saved every single copy. I hope this helps.
most of the above, and most of all, be prepared spiritually to meet God and share the good news of salvation with those around you.
Thank you for mentioning us on your Web site. We’re glad you enjoy Mother Earth News.
Great post on future cost preparedness. We’re glad it prompted a discussion.
Laura Evers
Mother Earth News
Unfortunately we are arriving at that time. Look around you people are selling off everything they have of value, cutting back on expenses. Off goes the cable, no more cell phones …you get the picture.
We grow most of our food, buy cows from neighborhood farms and pay a minimal slaughter fee. We use rain barrels for the use of the garden, we put back into the soil as much as we can. All the green stems and leaves are composted then tilled into the garden. We have enough clothing and warm blankets that the heat from winter would not bother us. We are careful about spending and I am frugal when it comes to buying anything. The means have to be justified.
I work at a c-store and many of my customers are cutting off there home phones and only useing cells. I have started buying more of our groceries in bulk at the watehouse store. Does anyone know of a good book on survival during the Great Depression? I can’t seem to find one in the library.