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Doomsday Dollars: 3 Tips to Help You Finance Your Prepping
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The threat of potential economic collapse has affected the investment habits of everyday Americans. A 2013 Wall Street Journal survey found that 76 percent of respondents invested in foreign stocks and alternative investments like precious metals that year, compared to the 8 percent who bought U.S. stocks. Granted, you don’t have to change your whole retirement strategy to fund disaster preparation. But casual, low-budget planning will require both sacrifice and commitment. These three tips will help you fund your SHTF prepping without breaking the bank.
Sell Material Things
When evaluating items you should sell, the most important factor is usefulness beyond its original intended purpose. High-definition televisions and other fancy electronics should be among the first items for sale. Expensive dinnerware, name-brand clothing and video games should also be near the top of the chopping block. None of this stuff will help you post-Armageddon, so sell it now while the items still have value.
Craigslist is a great platform not only for selling items but trading stuff as well. Offer to swap your material goods for anything that can help you in a survival situation, like bows, arrows, firearms and generators. Hold a virtual yard sale by listing all your junk items online, complete with photos. MoneyCrashers offers more tips on selling things on Craigslist. If you don’t have anything to sell, offer your labor or expertise for pay. The “Services” section of Craigslist enables you to post odd-job availability, like clearing snow from driveways and mowing lawns.
Expensive collectors items, like old comic books, baseball cards and paintings, should be posted on eBay. That way you can allow people to bid until your minimum price is met. Bonanza and NewEgg are two alternatives if you have reservations about using eBay.
Try Crowdfunding
Kickstarter, the most popular crowdfunding platform online, reported in March that total pledges since the company started in 2009 surpassed the $1 billion mark. Nearly $500 million was pledged in 2013 alone, according to company data. A tiny piece of that pie would be more than enough to ensure your survival once TEOTWAWKI becomes reality.
The key is to set a realistic goal and tell an interesting story as to why you need the money. Michael Barrett, a former U.S. Marine and artist, raised $850 in two weeks to fund his Guiness Book of World Records submission for the largest jock strap in the world. He disseminated the campaign by making a video explaining his goals, and then shared it on Facebook with his 4,000-plus friends. Use your networks to get the first 20 percent of your goal. Kickstarter data indicates that one-fifth of the stated goal must be raised within the first week for the campaign to maximize its chances of being fully funded.
There’s no blueprint that guarantees crowdfunding will work for this or any other type of project. But make certain to thank every contributor personally and publicly, so others will know you appreciate the support.
Take a Personal Inventory
When all else fails, use what you already have to fund SHTF survival. A $1,000 loan from a 401(k) or IRA is more than enough to buy emergency food and water supplies along with backpacks and gear for the entire family. If you receive periodic payments from an annuity or structured settlement, consider selling your future payments for a lump sum of cash now. J.G. Wentworth has more information about selling your future payments. Take in a roommate for a few months to cut your living expenses and free up funds for survival prep.
Whether the SHTF due to an extinction-level meteorite, nuclear war or economic collapse, the consequences will be the same if you fail to prepare. Now is the time to decide whether you want to continue on as normally as possible or succumb to adversity.
Source: http://truthisscary.com/2015/01/doomsday-dollars-3-tips-to-help-you-finance-your-prepping/
