To most people finances revolve around paying their bills. This narrow immediate point of view can be as deadly as standing in the path of a Tornado with no place to run and hide from flying debris.
In the great depression many people were caught by "flying debris" that was not their making or something they'd ever thought would happen to them. That debris included accounts receivable they had counted on, banks they had counted on closing with their money still locked up. They found insurance policies not paying after a husband committed suicide. They had creditors call notes they didn't realize the fine print allowed.
The problem was they expected the existing system to work. The way to avoid that kind of damage is to presume the current financial system will not honor the promises it has made for you.
One of the weakest parts of most folks Financial Safe Room is depending on Social Security and their Pension. These will be the first to go, guaranteed. How would you survive if these were suddenly destroyed.
Your Financial Safe Room is a plan of action that looks for alternative options without the current financial system being intact. What do your REALLY need to survive. Food, Shelter and Clothing are the three real elements we need. So build a Financial Safe Room that has options with those factors.
Food; can you raise your own food? Shelter; can you share a home with enough family members to pay that mortgage? Clothing; should be the simplest of them all. Really not that big a stretch is it. And with that plan in your file, you have that room to escape to. So you can rest knowing a plan is in place.
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