Building an Emergency Preparedness and Survival Fund
People these days are saving up money for many different purposes: college tuition, weddings, a new home or car and even family vacations. What about an emergency preparedness fund? Some find the cost of emergency food storage and survival supplies daunting, but the truth is, it’s possible and well worth it to make room for this vital safeguard in your budget.
Why save for prepping?
All of the threats we outline on this blog are unpredictable and can occur at any moment, to any random victim. Survival situations like pandemics, war, economical depression, natural disasters or man-made tragedies can cause major damage. Having an emergency preparedness fund is just another smart way of saving up for the uncertain future. Why neglect this important threat while saving for a trip to Oahu? It just might save you when a crisis hits home.
How to save for an emergency:
You don’t need to be constantly thinking about preparing a survival fund with every daily transaction you make, but it is wise to cut costs where they aren’t necessary until you feel comfortable with the money you’ve saved. In that way, it is just like any other savings account; you’re preparing for the future because you never know where you’ll be later on. A lot of people have major concerns about the economy and job loss, so save while you can. Some keep it in a bank, others stash it in a hiding spot at home.Wherever you keep it, make sure it is easily accessible.
How much to save:
Take into account everything you need to pay for in a month, and whatever expenses you want to have money for in the meantime. Save up what’s leftover, even if it’s only pocket change. Who knows when you’ll need it, or how desperate you’ll be by then. Only save what you’re comfortable with.With a lot of emergency food you get something called a product volume discount. This means buying in bulk saves you money, rather than buying in smaller increments. In the end, how much you need to save depends on how much you plan on buying. Set goals for yourself and ideal packages for your family, so you can get the food you need without exceeding your budget.
Keep all of these things in mind so you can invest in your own survival stash and safeguard your future with supplies.