7 Ways to Prepare for a Financial Crisis

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:

1. Create a budget.
2. Build a $1000 emergency fund.
3. Get out of debt.
4. Ditch credit and debit cards.
5. Get 3 to 6 months worth of savings.
6. Diversity what you spend money on.
7. Invest in education & training.

Of course, there’s a little more to it than that. Watch the video below for more info.