I think that any type of preparedness is an admirable goal. And the term can mean so much and it casts a wide net.

To me...economic freedom is at the forefront. No debt, no mortgage, sufficient monies in case of a tragedy, an illness, an unforeseen home repair, for retirement, etc. Its all about the probability game. Whats more likely...a world wide economic collapse where the dollar means nothing...or a company closure and your paycheque or savings start to go...or worse you didnt bother to save anything. A world wide pandemic? Or interest hikes that make you walk away from your home/mortgage.... Civil war...or your house catching fire.

We've seen interest hikes in the 80's and people walk from there homes...businesses closing and people cry foul they are destitute. To me...economic preparedness is first and foremost because it effects each and everyone one of us. And its a very real issue with a recession every 8-10 years or so. Before the guns and flashlights and cans of tuna, I'm about sitting down with a financial planner and ensuring that the real life issues that can and will happen are addressed. I'm about sitting with the insurance agent and ensuring my home and property are properly covered for the most probable (statistical) events.

After the boring stuff, comes the more esoteric "stuff." 🙂 Again on a probability basis. Power outages from a few hours to weeks, communication to know whats going on in the outside world, food and supplies to weather a storm or to leave the areas if authorities give an evacuation notice.... Home security and protection..not just from the criminal element (which statistically keeps dropping in my area) but the most common home tragedy...fire. Monitoring and Fire Suppression. And on from there....

Its interesting in my observations (completely subjective i will admit) to see that no matter the political views, religious, cultural backgrounds, language, etc...."Preppers" all seem to have that "personal responsibility" spark in them. Perhaps...as I read about Canadians spending themselves into ever increasing amounts of debt, Canadians complaining they are entitled to more "free" stuff from the government, Canadians talking about their feelings and not about accomplishing actual life goals...I see Preppers as one of those bastions of people who say "I will find a way" and instead of excuses why they can't....they simply "do." I've met preppers with physical disabilities, mental health issues, Preppers who have gotten a raw deal in life,(and also those who have gotten some great windfalls)...conservatives, socialists, etc....and that one common trait: I'll work with the hand i've been dealt...and find a way somehow. I've often heard preppers say "I need help, can you help me." and I fully admit asking for help too. But I've never heard a prepper say "its your responsibility to help me." Not once. Ever. And there is a fundamental distinction between the two.

Well said.

Agreed, well said thecrownsown.

As to the question at hand, I'm not much of a prepper at all. My wife and I are getting financially square away so that's a positive. I'm a work in process when it comes to preparing would be a kind way to say it. Very kind.

I kinda consider myself like the ant, WINTER IS COMING. Just looking to square away a lot of loose ends

I’m with my distant relative above. Some form of ‘winter’ is always coming. Some more personal than others.

You should see the look on the banker when they look at my lack of debt . Our only outstanding one is the mortgage. Which is the full subject of my hatred. I asked the banker if that was unusual. She said I would be shocked at how many people carry balances on credit cards while maxed out on lines of credit, huge mortgage, etc.

Then you should have seen the look on MY face.....

Beans, bullets, and band aids are great. But if you can’t handle 90 days without a job, you failed at preparedness 101. I have some supervisors making well over 6 figures and have told me they are unable to miss ONE pay cheque.

Wow.

Beans, bullets, and band aids are great. But if you can’t handle 90 days without a job, you failed at preparedness 101. I have some supervisors making well over 6 figures and have told me they are unable to miss ONE pay cheque.

Wow.

Jonesy said it perfectly. 100%.

I get that bankruptcy can happen. A messy divorce, a massive tragedy...it happens and bankruptcy is there so you can pick up the pieces and move on afterwards. Its a necessary function in our society. Not welcome, but necessary.

But Jonesy points out something very important..its not about how much money you have, its about how you manage it...

I totally agree!
Our only debt is our mortgage, and we could pay that off tomorrow if we so chose, BUT, said mortgage is making us money. You see, we have a little bit of investments, which draw us about 7% interest. Love that! Our mortgage is only 2.4% interest. The difference in the two is money earned and re- invested. I hate having a mortgage, but I like making money with little work, even more! Living frugally helps too.

It's not only how much money you make, but how much you spend. Like the saying goes, a penny saved is a penny earned.

Man, can we get the government to read this?? They don't have a revenue problem. But they (and every gov't for the last 100 years) sure as s*&t has had a spending problem.....

I totally agree!
Our only debt is our mortgage, and we could pay that off tomorrow if we so chose, BUT, said mortgage is making us money. You see, we have a little bit of investments, which draw us about 7% interest. Love that! Our mortgage is only 2.4% interest. The difference in the two is money earned and re- invested. I hate having a mortgage, but I like making money with little work, even more! Living frugally helps too.

Well said! Preserve and grow capitol. Wealth building is best done with other peoples money.

Good question....wife and I retired and relatively mobile (under 65)..live in rural setting(a hamlet)..no debts...do not any formal bug out plan but do have set up some informal security plans..ie..lighting.. self defense..short term power generation..water,food etc storage..medical stuff..contact with like minded neighbors..(4 or five other households)..this being said I am concerned with the global political elite and there mindset...ie...taking a dump in each others cornflakes...nothing good will come of this..also the entire fiat currency system (green paper) printing and spending that few people seam to be concerned about...the bill is going to come sooner than later...what kind of prepper does that make us?

That would make you ‘Financially awake’ ones?

I think that no matter what kind of prepper you are, you're aware of and attempt to prepare to be financially secure. However, financial security is the least of your worries in a total melt-down event. No banks will exist and money may not be worth anything. Having lots of it will mean nothing...

It sounds that most commenters don't believe in an end-of-world as we know it scenario, where mortgages mean nothing. What's important then is the ability to hold-on to, or take what you want... Unfortunate, but true.

I too am mortgage free, but this counts for little as long as things are more or less stable. Perhaps a great depression type scenario. Anything worse than that is another story...

Fair enough. I dont think anyone is denying that in a complete collapse money would be worthless. But the point I'm seeing and the approach I take is its more a probability game. A complete collapse, war, etc. are lower probability events then a job loss, or financial hardship from something everyday life can throw at you.

That doesnt mean discount low probable events. But on the path to self sufficiency..it means proceeding in a pragmatic way in which you hit the most likely events first and move on from there. Quite often preparedness for those high probability events will overlap into the more devastating things that could happen. Its transitional.

I don't know if most here dont think a major catastrophe is on the horizon, or if it will happen. Part of the "prepper" culture is that underlying nagging voice saying "what if." But i'd hazard to say most are preparing the best they can for major catastrophe in some sense.