How To Make A SHTF Financial Survival Plan

Are you concerned about your personal economic situation?   Worried about how you’ll survive if things continue to go downhill?   Do you work in an industry that is shutting doors at an alarming rate?   Inching closer to retirement?   You need a financial survival plan.

 

Financial Survival Plan for 2017

There are huge issues brewing for those looking to retire on pensions.  This is where my husband and I find ourselves.   A projected FY17 $1.8 trillion dollar deficit is nervous making for Baby Boomers wanting to retire.  Take, for example, the Dallas cops who chose to take their pensions in one lump sum, fearing the money will soon be gone.

You may be facing a job loss, or another situation where your monthly income will be drastically cut.  Regardless of the reason, now is the time to prepare for your family’s  financial survival, before things head south.

Create a Financial Survival Plan Before The Next Crisis

 

Know What You Have Coming In. Know What Is Going Out.

Begin 2017 with a resolution to cut your expenses to an all time low.   This not only saves money, but insures that when there is less coming in, you’ll still meet your needs.

Your first step will be to write down how much money  you have coming in each month.  Next write down how much money is going out each month.   This gives you not only something concrete to refer to, but also a way to track your progress.   On her website, and in her book, Survival Mom, Lisa Bedford offers an excellent and non-intimidating worksheet to help you create a financial survival plan.

Once you understand where your money is going you can begin to plug the leaks and be proactive in your quest to create your unique blueprint to financial survival.

Set Goals

How much would you need to have saved to cover one month of your living expenses?  What about six months of your living expenses?

Do you have any big expenses coming up?   My husband and I need a new roof for our home.  We had hoped that this roof would have lasted us another couple of years when we might have most of the costed saved up.  Nope.     Now we are looking at adding another $10,000 to the debt load we’ve been working so hard to pay off.

sigh.

You can bet we’ve set a goal to create a more aggressive savings fund for future home repairs.

Cut Expenses

Do you still need that premium cable package?  Downgrade your cable plan. (Hello Netflix!) Don’t use all your phone minutes?  Go with a less expensive plan.  Life was  good even before smart phones.

What are you paying for that you no longer use?  The gym membership?   An online service that you could easily go without?

Change out those light bulbs to energy efficient bulbs.

Trade in your gas guzzling SUV for something that costs much less to get you where you’re going.  And remember to batch your errands!

One of the best resources I’ve ever found on cutting expenses and preparing for a strong financial future costs less than a fast food dinner out.  Take a look.

3 Months Of What Your Family Uses Daily Is Part Of A Financial Survival Plan

Create a Stock Pile

I’m a firm believer that having at least a 3 month supply of what you use on a daily basis, purchased in bulk, on sale and with coupons, is the same as money in the bank.   How nice to have the knowledge that in an emergency you wouldn’t need to worry about going to the store for at least 3 months?

By writing down what you family eats for seven breakfasts, lunches and dinners, you will be on your way to knowing what to stock up on for a three month supply of food.

Next write down how many rolls of toilet paper, boxes of tissues, tube of tooth paste, etc. that you go through a week or a month.  What else does your family use on a daily basis?

And don’t forget to add in your drinking water as part of your three month supply!

Sell It!

 

One of the best decisions I made in 20016 was to go minimalist.  A successful Prepper is an organized Prepper.  You’ve got to know what you’ve stored and where you’ve stored it to make it through a disaster.

Look around your home.  What do you have that you don’t use?  Sell it!   Have a garage sale.  Or sell it on a Facebook yard sale page.  Simply type in the name of your city and ‘yard sale’ into the Facebook search bar, and you’ll find several cites to sell on, without having to ship or pay for ads.

Be brutal.  If you don’t use it on a regular basis, make some money off of it.

Find A Side Gig

Sometimes, there simply isn’t enough coming in, to meet the bills, much less to create a successful financial survival plan.  This is when a totally new stream of revenue needs to be found in order to make your financial security plan complete.

Look towards your skills and passions.  I’ve always had a heart for emergency preparedness and self sufficiency.  So it’s natural for me to blog about it with a goal to turn my knowledge into a work at home job.  This is the perfect way for me to stay at home with a medically fragile child, while adding another stream of income to help us better meet our son’s medical needs and prepare for retirement.

Food Storage has always been a passion of mine as well.  While my friends were having lingerie themed bridal showers, mine was……wait for it……FOOD STORAGE themed.  Yup.   I was a Prepper years before prepping was cool.

Because of my desire to have a deep pantry, I became a consultant for Thrive Life.   I’m not a host a party kind of girl, everything I do is online only.   I also receive discounts off of what I order.  It’s a win-win for me, and might be just what you’ve been looking for.

Maybe you’re a people person and working a part time job in your favorite store might be just the thing to bring in an extra source of income.

A Financial Survival Plan To Become Debt Free

Do You Have Skills Others Don’t?

Do you sew?  Quilt?  (Totally jealous if you do!)  How about selling via craft shows and local expos?

A neighbor with mad cake making and decorating skills creates and sells her master pieces from home.  Her work beats the socks off anything I’ve seen in bakeries.

Are you a gardener?   I’m hoping to sell my excess veggies this year to bring in a little extra money.   Are you great at fixing stuff?   You could start a new business using those skills.

Use It Up, Wear It Out, Make It Do, Or Do Without

One of the biggest hurdles in creating a financial survival plan is the mind set that our society embraces that whoever  has the most toys wins.  Assigning meaning to stuff, at the cost of our self worth, or our health, vastly limits our ability  to prepare for an uncertain future.

Without the clutter, you can focus on what’s important: preparing your family to make it through a financial crisis.

What are you doing as part of your financial survival plan?

About ParkerMama

Tammy is a mom to 6 wonderful kids, including Parker, who came with an extra chromosome! She is passionate about special needs advocacy, living within her means, and preparing for an uncertain future. Tammy's main blog is Praying For Parker. Make sure to visit her there as well!

Comments

  1. Excellent advice. We are doing everything we can to get this debt paid off, just “in case of.”

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