Finances

In life, the best thing you could want for both you and your family is security. Whether that comes in the form of a secure home, adequate finances or emotional support, you want to have a system in place that will take care of you throughout any situation. In the modern world, there are a great number of things you must worry about on a daily basis, and one of them may be the state of current affairs.

As it is, the world sometimes seems as if it is heading towards a path of despair, one that may culminate in a catastrophic event that is either manmade or natural: the Doomsday event.

If you are someone who has already begun preparing for the possible Doomsday—storing mass goods within your home, from clothing to self-defense items, purified water to food—or if you are someone who has contemplated investing in preparation materials, you might be a Doomsday Prepper.

Many Doomsday Prepper lists will offer you a large quantity of items to keep stockpiled, including:

• Warm clothing, blankets, gloves and hats
• Tents, sleeping bags and tarps
• Knives, axes and (possibly) a gun
• Clean water storage (at a minimum, something like the Waterbob bathtub water storage bladder is a good start)
• Extensive amounts of canned, dehydrated, and freeze-dried food from a survival food list.
• A flashlight and matches
• A first-aid kit
• A variety of currency—cash, precious metal coins and barterable items

These lists can be quite extensive, but it is the final item that begs the question: Which currency works best?

What Currency Is King?

Without knowing what Doomsday will bring, it can be difficult to discern which currency is going to provide you with the best financial security both in the immediate aftermath and the long run.

While cash is easy to store in large quantities, the likelihood of its current value staying following an apocalypse is quite low. Inflation will hit and the USD will crash, leaving the dollar more or less useless not long after the world takes a turn for the worse.

For this reason, it is best for you to invest in precious metals—silver and gold. Whether in the form of bullion bars, jewelry or rare, collectible coins, these items hold both a monetary and visual value that make them suitable for buying and trading items with other people.

These items are relatively easy to stock up on in preparation for Doomsday, as they work as investments for the future, whether or not a Doomsday event occurs. The value of gold and silver is something that is intrinsic to human history, and it is certain that these precious metals will continue to reign supreme no matter the direction of the future.

Yet, between these two precious metal options, which makes for the best long-term investment for you? There are two characteristics of both gold and silver to consider when first thinking about investing.

The Cost Effectiveness of Each

Even when prepping, you need to make investments while considering your finances in relation to now. For this reason, you must consider the spot prices of both gold and silver to determine just which would make for the best investments for you.

At this time, the spot price of gold currently sits at just under $1300 per ounce, while the silver spot price is approximately $15 per ounce. While the value of gold might be greater than that of silver, the initial cost required to invest in gold is equally steep, and frankly just might not be in the budget.

If you’re looking to stockpile in larger investments of coins and bullion for the time being, it might be in your best interest to invest in silver; however, if you’d like to add some noteworthy pieces to your collection—items that could be used in dire times, when someone dearly needs to be influenced—you can rely on a piece of gold.    

While having a higher spot price, gold makes for a beneficial investment due to the advantage it has to increasing in worth over time. The value of gold has continually been shown to be greater than that of silver, but as the global mass of gold begins to shrink—and whenever doomsday hits—it can be expected that the value of gold will only continue to grow as all other precious metals become difficult to come by.   

Intrinsic Trading Value

Due to the difference in spot price between gold and silver, these items will serve different purposes when trading with others. Simply put, silver would be used to purchase small items, while gold would work best for items of much greater value.

Consider the following scenario: Doomsday has come and you have stockpiled a notable amount of both gold and silver; however, as you have continued thriving in the post-apocalyptic world, your supplies begin to dwindle.

You know someone still living within your region has the essential supplies you need, particularly food and water. For smaller items such as this, you could offer them a considerable amount of silver coins to purchase these basic items—a fair trade; however, if they were not pleased with the amount of silver you offer them, you could always provide them with gold, making it more likely to capture their attention.

What You Should Invest In

While we have provided you with insight into the differences between investing in gold and silver, but we really can’t make a declaration as to which would work best for you.

The truth is that each item carries its own worth, both monetarily and socially. It will depend entirely upon the size of the purchase as to whether silver or gold would be the most fitting item to trade. Furthermore, it will depend upon your current finances as to which investment you should consider most.

You know, it is no surprise that the Baby Boomers contributed MORE to Social Security and have taken less than any other generation. We are barely getting to the age where we can collect! But now it is almost gone!

Now, just take a moment, sip a cup of coffee or tea, and think about this. Most of us here are of the Baby Boom generation. Most of our grandparents didn’t contribute much to Social Security, but got some after 65. Most of our parents contributed to Social Security, but not nearly as much as we did and our payments are supporting them.

The Baby Boom generation has been followed from the beginning. The politicians knew we were going to get old someday and that most of us would need Social Security for our retirement—FACT. But basic math seems to elude our politicians in both parties.

BUT, I do resent being made to feel like I am a moocher, an entitlement brat sucking off the government teat. I paid Social Security all of my life! My employers paid their share for me! No choice—we paid!

Plus, I don’t think that people realize that once you are disabled or retired that you MUST continue (It is simply deducted from your Social Security check.) to pay for Medicare. Medicare only covers 80% of part B medical expenses. And there is the donut hole for medical prescriptions which is about an additional $2,500 a year. Plus, you are almost (may be) required to carry some kind of Medicare Supplement.

That average $12,000 a year EARNED RETIREMENT BENEFIT just went down to about $7,000 a year to live on. Hmmmm, about $550 a month IF you averaged $30,000 a year all of your life–Under 30 y.o. and over 50 y.o. and you made it to 65 without becoming disabled by accident, health, or service to your Country.

And now you are probably at poverty level and Medicaid (Medical Assistance) kicks in to help out with home care and/or nursing home assistance. I don’t know the laws in other states, but if you own a home in Minnesota and use Medical Assistance at any time after the age of 55, that home will be CONFISCATED by the County when you die or go into a nursing home.

ENTITLEMENT????  NO!  PONZI SCHEME? Maybe. RIP OFF, YES!!!

Just My Humble Opinion.

You’ve heard it over and over. Stop splurging on clothes at the mall, stop eating out, and start sticking to your budget. But actually, this is all great advice and something you need to pay attention to if you want to become financially sound in the future. Studies show that when it comes to sticking to a budget, most people simply don’t do it or even consider it a top priority.

On the other hand, there are some people who take saving money and budgeting very seriously. Although they probably don’t go out as much, they get to travel to exotic destinations each year due to conscientiously saving their dollars.

But, before you quit frivolously spending money cold turkey, keep in mind that it’s typically the little things you’re throwing money away on that are adding up the most.

Here are 10 super easy tips on how to save your money little by little over time that will make a huge impact on your overall budget.



1. Prepare Your Own Lunch

How long does it take for you to fix your own lunch? By simply getting up a little early to make your lunch or cooking just a little extra the night before and using food storage containers to freeze extra for the week, it will save you an incredible amount of money over the course of just 7 days. Go ahead and do the math and you’ll be amazed. People who know how to save money generally prepare their own food.



2. Take Advantage of Sales

At some point, most items go on sale at both grocery and non-grocery stores. Try going shopping when a store is having a sale or try to only buy a certain item when it’s on sale. Also, stockpile a few canned goods here and there so you’ll always have a full cupboard. There are many ways to track store sales and coupons at your favorite locations both online and offline. This is also a good way to build up storage for items on your survival food list.



3. Ditch the Plastic

When it comes to day-to-day spending, only use cash. Although it may take a little more time to plan how you’ll spend money throughout the week, make it a habit to withdraw a certain amount at the beginning of the week and spend it wisely. Research shows that people in general spend 30 percent less overall when paying with cash.



4. Embrace All Things DIY

If possible, try shoveling the snow, mowing the lawn, or cleaning the pool yourself instead of paying someone to do it for you. In fact, consider getting the entire family involved to do outdoor chores and use the extra cash for a family fun night.



5. Make Your Cleaning Products Instead of Buying Them

Cleaning products can get expensive. It shouldn’t cost a fortune to do laundry. By making your own laundry detergent in addition to other all-purpose type cleaners, you can save a significant amount of money over time as well as keep your home spic-and-span clean.



6. Stop Using $5 Dollar Bills

Make your own rule to stop spending a certain denomination of currency. A good choice is $5 since it’s a relatively low number, but will add up to a substantial amount of savings rather quickly. Whenever you come across a $5 dollar bill, toss it in a designated drawer or jar and watch your savings grow exponentially.



7. Eat Out Less

All those dinners you eat out are literally costing you a small fortune. Make it a point to eat out only once, maybe twice a week at most. Once you realize how much money you’re saving, you’ll be less likely to want to eat out at all or only on a special occasion.



8. Budget Your Children

If your kids get an allowance, consider putting them on a budget. Rather than rewarding them for getting good grades or doing chores with money, allow them extra Internet or TV time instead.

 Write it Down

Want to really see where your money’s going? Write everything down that you spend no matter how trivial. Don’t cheat. At the end of the month, look back at your list. Make a list of your largest expenses like, mortgage payment, insurance, personal loans, groceries, etc., and go from there. Hopefully it will get to improve how you spend money.



10. The $100 Challenge

Begin saving all your bills, and once you reach $100, take them to the bank in exchange for a crisp $100 bill. Next, tuck it away deep in your wallet or purse. Why? Just knowing it’s there, it’s likely you won’t want to spend it but rather hang on to it. Besides, most stores won’t accept a $100 bill for lunch or coffee anyways.

Try some of these easy tips and see how much you save at the end of the month. People who are smart about money set aside a minimum of 10 percent before they even spend one dime of their check/salary. This way, they’re always stashing away and protecting their financial future.

Want a Bonus?

This is the toughest one of them all, but if you are a current smoker, quitting smoking can save you big time (in fact, one of our writers saved $4,000 a year by quitting smoking!)

About 6 months ago, my brother-in-law, who had retired and moved back home, called and said, “Guess what? I just purchased a one man saw mill on Craig’s List for a song, you need to see this.“

He said he had always wanted one to play with and use more as a hobby than anything else. He ask if I would help him move it to the farm, and help in setting it up, repairing or replacing parts, and cut a few trees in order to learn how to operate it.  I couldn’t wait to see it.

The picture is the finished project, set up, and ready to go. Note the wheels have been removed in our set up.

I was hooked. Neither of us had any experience in operating a one-man saw mill. Fortunately he had been studying the manual, looking at YouTube videos, and talking to the customer service rep at the manufacturer. I was mostly the helper.

As we were setting up the mill and cutting trees for practice, we talked about how we might recoup some cost with “our” new hobby.

Here are a few facts and figures:

• Cost: including repairs and transportation- Less than $3,500. This particular mill (WoodMizer) had been used very little and was in excellent condition. We have found similar mills selling for more than twice that amount, when you can find them. New Wood-Mizer mill that replaced the model you see pictured is around $11,500. That is the basic cost, not including transportation. Granted, the mill my brother-in-law bought was an older model, and the newer ones come with some features that his doesn’t have.
• Production: This mill is capable of producing approximately 500 to 600 board feet per hour. I need to add some qualifiers to this statement. The key words are: “Is capable”.  After all, I don’t expect we could last very long at that rate. A more sensible rate might be 200 bf/hr. It would also depend on the dimensions of lumber you are cutting. It is much easier to cut 4”x4”, or 6”x6” timber than a bunch of 2”x4”, s. plus the board feet add up much quicker with large dimension lumber.
• Pricing: In our area it ranges between $150-$250 per thousand board feet, depending on dimensions, quantity, and whether the logs are delivered to the mill or we pick them up.
• Demand: The demand seems to be consistent to strong. As we were in the process of setting up the mill, we had several people ask us if we were ready to accept orders. One person even wanted several thousand board feet processed. Unfortunately, we were not ready, and winter has put a halt to much logging and milling in this area; mostly due to prolonged days of rain and cold weather.
• Rate of return: Thinking reasonably, we could expect to gross approximately $300-$500 per week. That would be working approximately 4-5 hours a day, 3-4 days per week. That depends on several things, some of which are: Demand, breakdowns, weather, and yes even our stamina, sawmilling is very labor intensive and hard physical work.
• Added value: There are some additional values associated with sawmilling. Items you can sell or barter are: the slabs and excess pieces for firewood and the accumulated sawdust for mulch.

Here is a link to a Wood-Mizer video showing the operation of a band-saw mill.

I will try and keep you updated on our new venture. Just to get you thinking, have you ever considered that the following could be extra money makers:

• House sitting for people going on vacations
• taking care of pets
• breeding dogs, cats or other animals
• teaching various folk-art crafts such as knitting, metal working or hand forging, and pottery making
• teaching firearms training and safety
• free-lance writing or photo journalism
• taking care of the elderly
• teach people a musical instrument skill you may have
• gather and sell firewood
• training people how to care for and ride horses.

You can see this list could be expanded to whatever your imagination may conjure up. If you are having trouble thinking of something, look in the classified section of your paper under services needed, Also, Craigslist is a good place to look.

When a tornado, hurricane or other severe weather phenomenon is heading toward your town, the last thing you want to think about is whether or not you have the proper insurance coverage. Your focus should be on getting your loved ones to safety, not if you will have to pay for a new roof out of your own pocket.

The following tips can help homeowners select the best type of insurance coverage for their home, as well as know what to do in the event of an emergency:

Know your Insuranc Categories

As Homeowners Insurance Guide notes, the definition of “property” as it applies to your insurance policy varies a bit from state to state as well as between companies. To be sure that you have the proper coverage, it’s important to know what is generally considered to be a “covered” property. For example, the actual house where you live falls under this definition. Other categories to discuss with your insurance agent include any other structures you might have on your property like a detached garage, a shed or a barn; personal property like furniture and appliances; and the loss of use category, which applies when the home is no longer safe for people to live there.

Open versus named perils

In the world of insurance, a “peril” is something that will cause a loss to occur to a home. These can range from fires and floods to other hazards. While a package policy offers coverage for many types of perils, it is not usually all-inclusive.

As a homeowner, you can also purchase extended coverage to handle other perils, including windstorms, hail, and broken glass. If you live in an area of the country that is prone to getting hurricanes, tornadoes, haboobs (sand storms) or other potentially devastating weather-related conditions, it’s vital you speak with your insurance agent sooner rather than later to verify what is covered in your homeowners policy and, if necessary, purchase additional specific insurance.

For example, while the majority of property insurance policies cover damage that results from hurricanes, it might not extend to taking care of anything flood-related. Since hurricanes inherently involve a lot of water and flooding can be an issue, this is an important point to discuss with your agent. If, after speaking with your insurance company, you are not happy with the coverage that you have or you feel that the price is too high, it might be a good idea to get some quick internet quotes.

How To File an Insurance Claim After a Natural Disaster

If the worst happens and a tornado, hurricane or other natural weather disaster hits your home, contact your insurance agent as soon as it’s safe to do so. You will probably set up an appointment for an insurance adjuster to come by and assess the damage to your home and belongings. As House Logic notes, in the case of a hurricane, these visits will be scheduled in order of the amount of damage, so be sure to provide your agent with an accurate estimate of how badly your home has been impacted.

To get ready for the visit with the insurance adjuster and help prepare for the entire process of filing a claim, create a home inventory list that includes detailed information about what was damaged — this includes the model numbers of appliances, computers and how much you paid for these now-damaged items.

Although you probably want to start cleaning up, don’t throw anything away until the claims adjuster has come by to check out your property. Be as patient as possible during this time; chances are good that your insurance company is dealing with dozens of other claims and it may take some time before you receive your compensation.

Remember, homeowners who are dealing with storm-related damage can fall prey to dishonest contractors; once you have settled with your insurance company and have the money needed for repairs, be sure to hire someone based on referrals and references, get a written contract for the work to be done, and avoid door-to-door contractors who show up wanting to fix your roof.