The Great Recession officially ended in June of 2009–over 8 years ago–and since the United States has never gone over 10 years without a recession, something tells me hard times are just around the corner. If you’re not prepared for a financial crisis, it’s time to get started. And even if there’s never another recession, you should still prepare for the possibility of a personal financial crisis.
In this video, City Prepping goes over what he calls “7 immutable prepper financial laws.” Here they are:
- Create a budget.
- Build a $1000 emergency fund.
- Get out of debt.
- Ditch credit and debit cards.
- Get 3 to 6 months worth of savings.
- Diversity what you spend money on.
- Invest in education & training.
Of course, there’s a little more to it than that. Watch the video below for more info.