Tuesday, April 17, 2018

Another recession coming?

I recently read an article on Bloomberg, talking about another recession in the near future. This isn't the first time that I've read about recession chatter. Financial bloggers have been talking about it too, for the past year. It's no surprise to me, but I still want to be prepared again. DH actually predicted the last recession about 2 years before it happened, so we were well prepared.

So, in order to prepare for another recession, I've decided to go hard at stockpiling again. Yes, we do have a stockpile, but not nearly as big as I used to have. I discovered couponing about 2 years prior to the last recession and in those 2 years, I've learned all about coupons, rewards programs and anything to do with saving/making money on groceries/hba/cleaning. I'm so thankful that I stumbled across that group (quite by accident), because it helped us tremendously during the recession. I'd like to be in that position again. Not only because of the recession, but think about a natural disaster or possible war.

No, I'm not one of those doom & gloom people. I'm a realist and a planner. I like being prepared for things. I like to have a schedule and a plan for an emergency. During the big blackout many years ago, grocery stores were cleaned out and there was no way to find a generator (we see this happen during a blizzard, so it will happen again during any kind of emergency). Thankfully we had gas stoves to cook and a decent amount of groceries to tide us over.

Couponers know that store deals and/or rewards have also changed a lot over the years. Gone are the days when I could leave Meijer with a cart full of groceries for $5-10. Even coupons have become scarce and stores are refusing internet printables too. So I want to rock whatever deals I can, so that we have no grocery worries.

My plan is to stock up on whatever non perishables, paper products, hba and water I can find at a good price. We only drink filtered water, so I also want to stock up on Pur Pitchers and refill filters. We do keep bottled water, but I don't feel comfortable keeping cases of water for many years. I don't know if it's safe. With the water pitchers (that we use regularly anyway), we'll still have filtered water. There should be lots of sales and coupons and those, with summer approaching.

The most important question though is, are you financially prepared for another recession? Can you survive a job loss or less hours/pay? Even if a recession doesn't happen for another 4-5+ years, now is a good time to save (if you haven't done so yet) for such a big emergency. That way, you'll be well prepared.

How do you prepare for an emergency and/or recession?

No comments:

Post a Comment

Meal Plan Monday

I'm so not in the mood to figure out meals for the week, so I've made an easy menu. Besides, who feels like cooking during summer.  ...