There are lots of things that separate those that grew up poor and those that didn’t. Many people that grew up in lower middle-class or working class families will tell you, there is always a cautious attitude in their minds. They grew up knowing how precious food, clothing and warmth was and did their best at preparing for the unknown. Therefore the way their minds work can be summarized by the term ‘expect the best, prepare for the worst’.
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[ctt template=”4″ link=”634aa” via=”yes” ]Many people that grew up in lower middle-class or working class families have the most practice at preparing for the unknown.[/ctt]
The Skill Of Preparing For The Unknown And Unlikely
For those that were lucky enough to live the middle to upper middle-class life, they didn’t worry about these necessities. They were most likely pushed into different things they were concerned with such as academia or musical instruments to name a couple. They have a mentality that focuses on other things and generally, they are more optimistic.
However, they could be usurped in one manner because of this notable difference and that’s preparing for the least likely and the unknown. Life throws up sudden and complex challenges so knowing you have the mental fortitude to deal with them is so important. Yet having the knowledge to deal with them is just as important but less well known.
The next recession
It's inevitable, and will eventually happen again in our lifetime. Recessions are not regular but if history shows us anything it's that they are periodic. They come around every decade or so and thus, you should prepare for them.
If you haven’t already you should start up a savings account so every month you tuck away a certain percentage of your earnings. This will be a cushion that will soften the blow but even this may not be enough. As with recessions, the value of currencies tends to fall so the money that you saved for so long could end being worth a fraction of what it was.
It's ideal that you put your money into something that is tangible, something like property, buying stocks of a successful company, buying precious metals and investing abroad. These are the things that stay inherently valuable and they always remain flexible in the markets.
Mother nature is never truly predictable and can never be no matter how much technology advances. So it's not if but when a natural disaster is going to occur. This could be a major flooding, earthquake, hurricanes and more. And of course when these things happen you have major power outages too, so life is reduced to the bare bones of it all.
You can prepare for this scenario quite easily once you have the knowledge of how. First off you should clear an area in your home where you can store these items safely and leave them undisturbed potentially for years.
Canned foods are of course the biggest concern as these foods have very long dates as to how well they will be into the future and safe to consume.
However things like a military heating kit are also something to consider, as both the tablet and strike stick variants are great.
Thermal blankets are another good idea so you and your family can stay warm regardless of if you have heating or not. MRE food kits are something you can pack in your bags very snugly and they all have their own way of heating meals so it's a compact and very effective package.
A just in case
The reassurance of life is never stable, so you may want to consider the ultimate disaster and have a ‘just in case’ plan ready. Read through your options of what you could leave your family in the event of passing away suddenly.
You don’t want to leave your family without a plan after you’re gone as they could end up losing everything. Since you might not be around anymore, they will have one less income that supports them, so it's not just someone they love they have lost but a stable source of financial support also.
See your own term life insurance quote and figure out what kind of plan do you think would be most suitable for you and your family. Compare quotes from the top insurance companies that offer this kind of plan. They are trusted partners so you can rest assured their insurance plans are used widely across the country.
There is a certain life skill to preparing for the unknown and the unlikely. It begins in the mind first, as people more likely to do this kind of thing grew up in tough conditions.
Even if you didn’t, it's a great idea to prepare for a natural disaster that could turn your life upside down. Recessions may not endanger your life, but they certainly can destroy your finances if haven’t put some money into things that remain stable even during tough times.
This is a contributed post.
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