Money, money money

[diamond lil]

Life is getting more precarious. Going back in time. What did they do back in time ? - think where the saying came from re money under the mattress..

[tanstaafl]

Yup, some in the BoB, some for EDC and a reserve.

Never know when power outage will knock out ATMs etc.

Quoting an old post but just read it and..........................


A couple of years ago tesco had a power cut just as I was using the cash machine and ate my card, tesco could do nothing and my bank was closed and it was the only card I had.

What a nightmare, you don't realize how much you rely on stuff till its gone............

[piglet]

Edit/delete Double post.

[piglet]

Quoting an old post but just read it and..........................


A couple of years ago tesco had a power cut just as I was using the cash machine and ate my card, tesco could do nothing and my bank was closed and it was the only card I had.

What a nightmare, you don't realize how much you rely on stuff till its gone............

Just keep small amounts of money across multiple current bank accounts.
It means you can keep cards separate in case of loss.

But more importantly..........
Cashback.....Cashback.....Cashback.

I am not in the least bit embarrassed about putting my shopping through in two or more lots if necessary.
I have even bought a packet of mints using a card and asked for £50 cashback, when I have had a need for cash.

I haven't used an ATM for years since my last card was swallowed by a faulty machine (at a Tesco's), and although I rang the bank which was open at the time, they still insisted on having to issue and post me a new card, which obviously took several days.

piglet

[ForgeCorvus]

The Hole-in-the-wall is a favoured target of scammers and thieves.... Let alone the Skimmers who use cameras and card readers to rip you off

Chip & Pin is not secure no matter what the banks may say, heaven help you trying to prove that you didn't just blow the account on a shopping trip to Prague or WHY

I have one Debit card and that never leaves the house.

Online I use PayPal wherever possible


If your bank offers internet banking, get it and use it to check whats going out..... The sooner you can alert the bank the less you'll loose


Most of our household accounting is done by stuffing cash into a bunch of envelopes....... It means that we can grab a wad if we really need to but don't have to have a dedicated 'Prep-stash'

[Arzosah]

Agreed about the hole in the wall ... I only ever use the ones *inside* my bank, I reckon that evens the odds.

[Ferricks]

I have small amounts of cash stashed all over the house - that way it reduces my risk of losing all to a burglar. I also have some stashed in the car (in a couple of locations for the same reason) should I find myself in need when out and about. Keep a separate (preferably zipped / closed) section of your edc / wallet / purse with "get home cash" in it - say £20 / £30 so that you have a lesser chance of getting stuck at any point. Keeping it closed means it's "out of sight out of mind" otherwise I would spend it!


It doesn't matter if all you stash are your 20p's and make that your personal habit - but in my opinion it's really important to stash SOME cash here and there as part of your preps - but it always depends what you're prepping for

[junmist]

Sorry but what is this thing you are all talking about I live a substance life and don't have any of this strange thing to spare

[Squawk]

I had a look in a dictionary and it said that money was a medium for the exchange of goods or services. Thinking about this, I began to wonder if it really was the best medium in our troubled times and even less so in the SHTF scenerio.

If I put a £1 into a bank, the best I can hope for at the monent is about 3 pence interest, per year, which will hardly cover the real rate of inflation. The three percent I can handle, but the real problem is that £1 only gets cycled once in 12 months. What sounds like a better idea is to invest the £1 in something that has a one month cycle, ie 3% per month which equals 36% per year. An even better idea would be to invest the £1 in anything that had a one week cycle, giving the equivalent of 150% per year. I actually did this in Germany and spent my last few DM on raw German sausages which I then cooked and sold on to hungry British soldiers for 100% profit per night. They didn't even mind that the first night I grilled boiling sausages !. Now a 100% profit with a 24 hour cycle is a pretty good trick.

Back to prepping. I was wondering how this idea would work in the SHTF scenerio and came to the conclusion that it would have to be a product I could make myself. There would be no-where I could buy German sausages for example and perhaps not much of anything else. This left me thinking that if I wanted to sell something in the future, I would have to buy the raw materials to make it ... right now. So, to put my money where my mouth is .... I have been importing loads of items that will form the raw materials for a SHTF product, that no-one can afford to be without.

It was an interesting idea because it indicated to me that I was convinced that life would go on ... and also if Britain is going to get out of the current mess, we have to get back into manufacturing again. So my question to you all, is what goods or services could you provide if the crunch came ?.

[preppingsu]

It was an interesting idea because it indicated to me that I was convinced that life would go on ... and also if Britain is going to get out of the current mess, we have to get back into manufacturing again. So my question to you all is what would you manufacture ?.

My OH is a green woodworker so he could make bowls, spoons, pegs, chopping boards etc etc.
I can sew.
In a world without electricity we could use our clay oven to make bread.
We could use the attached cold smoker to preserve food.

It's not just about manufacturing something to sell/trade - I could use any of the above things to trade for other things and get a mini economy happening.