Emergency Preparedness Money Check List

Money is very important, even more so during emergency situations. Money is a currency used to attain your needs. During disaster situations, electricity might be cut off. That means ATM machines and cashless transactions might be unavailable. It largely helps to keep emergency cash in your emergency stash, bug out bags, first aid kit, and car emergency kit.

There will also come a time when your money will run out. This is where precious metals come in. precious metals like gold and silver have the ability to retain their value through time. They’re also more durable than paper money so they’ll stay intact even when exposed to harsh conditions. You’ll need to stock up on precious metals so that you can use its value to trade for resources. You also need to be knowledgeable enough to perform inspections to determine precious metal’s validity and worth. Here’s a checklist to help you prepare for such scenarios.

Money “GET” Checklist

  • Get silver aka the poor man’s gold
  • Get a multi-column ledger book or a budget program on your PC if you want something digital. Set up a family budget and stick to it
  • Durable safe or other secure hiding places. You can use this to store extra cash, jewelry, and other precious metals
  • Pocket scale for weighing precious metals
  • Magnifying glass
  • Jeweler’s loop for inspecting jewelry pieces

Money “DO” Checklist

  • Place some emergency cash in your emergency stash at home
  • Place emergency money in each of the bugs out bags
  • Place some emergency cash in the car emergency kits
  • Learn from your local coin and bullion dealers
  • Visit estate sales to purchase precious metals at a cheaper rate
  • Purchase precious metals from pawn shops
  • Create a monthly family budget and adhere to it
  • Pay off all your debts as soon as possible. Unpaid debts accumulate interest
  • Don’t use credit cards for luxurious items. Reserve it for emergency situations
  • Convert about twenty percent of your savings into precious metals. Take physical possession of them
  • Keep yourself updated on financial current events by listening to the Financial Sense Newshour every week. You can also browse the finance section of the news every morning