Financial Planning for the Apocalypse
And other end-of-the-world tips and tricks
And other end-of-the-world tips and tricks
According to talking heads on the Internet (like this one), we’re headed for a financial disaster the likes unseen in the modern era.
I’m not here to debate whether it is true or not because frankly, I don’t know.
If I’m honest, I do think there is something eery going on and has been going on since the dawn of Covid. But it's not just my gut feeling. It’s also the charts that are telling us inflation is sky high, continuing to grow and money in circulation is also at an all-time high.
One thing to remember is that bad news sells. It’s true. Why do you think I used the image of an overturned vehicle on fire?
Well, this is true for the Internet and news media in general. That’s just a little heads up to let you know that I won't be telling you to cancel all your insurance, stop paying your bills, and start stacking canned sardines instead of sats.
Here are a couple of sound financial moves you can make right now that’ll help, should the sh*t hit the fan. And even if it doesn’t, you’ll be better off anyway.
This is advice I’ve been collecting for many years, from many people, economists, conspiracy theorists, gold bugs, writers, entrepreneurs, and of course end-of-the-world doom-and-gloomers, and all I'm doing is curating it for you.
Get out of debt.
Sounds easy but we know it's not.
Any debts you can get rid of that are lingering around like car finance, or credit card debt if you can pay these off, do it. The last thing you want is a debt that's currently owing X to turn into XX if interest rates go up.
This is the same for mortgages. Sure, you may not be able to pay it off just like that, by like, putting your mind to it or whatever, but you can refinance, or, crazy as it seems, even downsize to a smaller place.
I know people that have houses so big they use entire rooms just for storing boxes and crap or to hang their washing in. Ridiculous. I bet you know some people like that too!
Stop buying crap you don’t need.
You don't NEED a foot massager.
You don't NEED a universal remote control.
You don't NEED a chocolate Sundae to go with the disgusting meal you just bought that you also don't NEED.
You already know what you shouldn't be spending your money on, so stop. And instead, put that money towards ^ paying off those debts.
It amazes me every time I’m in a shopping center how much money people are spending on useless sh*t that they’ll probably use once and then store in that spare room.
Adopt a minimalist mindset, or at least try to. There are at least 73,000 minimalist blogs out there, start reading.
And by the way, this goes for social media and entertainment too. Get off it, read a book, an old book, one that you already own, or go for a walk or a run.
Diversify your income streams.
Can you mow lawns, wash cars, edit video, edit audio, cut hair, or do you have a knack for spotting deals at garage sales?
There are a hundred ideas I could come up with right now if I wanted to. There are publications, forums, YouTube channels, podcasts, and websites all completely dedicated to side-hustles.
If we’re heading into an apocalyptic-style recession, or any recession as a matter of fact, having a side hustle is a full-proof way to make sure you’re still putting food on the table. Y
You never know where a good side hustle might lead you.
Don’t be afraid to invest in wild times. AKA Contrarian investing.
This might seem like stupid advice considering the topic and yes when stocks and crypto are down it may seem like they will never recover. This is contrarian investing defined.
Or as the old saying goes.
When there is blood in the streets…
If you have spare income, invest it. Whatever your poison. For me it’s crypto and I also like precious metals. For you, it may be boomer stocks and bonds. Just kidding. You will thank yourself when we do eventually come out of this.
Invest in yourself.
As corny as that is, and it is corny, it’s also true.
It doesn’t matter what kind of market we are in, bull, bear, platypus whatever. Skills can never be taken away from you. You’ll have your skills till the day you die.
Learn to code, learn to write, learn to develop websites, or learn to grow a vegetable garden. It all pays off in the end. Heck, learn how to do basic stuff like changing car tires or changing the oil if that is something you’ve never learned.
Recently I have been learning how to ferment chili and turn it into chili sauce. If the sh*t hits the fan, you better believe I’m starting a Crypto Fireside hot-sauce market stall!
Get ready to seize any opportunity.
A quote I’ve always loved is:
Success occurs when opportunity meets preparation -Zig Ziglar
Opportunities can come out of nowhere and when you least expect them. If you are prepared both mentally and financially you can seize the day. If not, oh well, someone else will.
I just read the story of Amanda Kahlow from 6sense and how she pitched a Salesforce executive while in her undies at the gym and got a yes. This is what I’m talking about.
Opportunities usually don’t come knocking twice and in those once-in-a-lifetime moments when there is upheaval and chaos everywhere you look, things are getting flipped upsidedown, like cars that are on fire, well, when this is happening, unthinkable opportunities are occurring all at the same time, that’s just how the Universe works, man.
Tell me what you think.
What can you add to this list?
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