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Would you rather be fully prepped and significantly in debt?
Moderately in debt and only partially prepped?
Or out of debt and generally ill prepared?

Right now, like most people we're moderately in debt.
But unlike most, we're partially prepped.

If the coming economic collapse is of the magnitude I and others suspect, will existing debt even be of consequence? The vast majority of the population would be effectively bankrupt anyways.
The last thing we'd be doing is paying of creditors when the basics of survival are predominant, food, shelter & clothing.

I keep arguing with my wife, I'd rather be in debt/deeper in debt and the family needs taken care of, than be ill-prepared and still in debt.
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The BIG plus is, we've a full year of regular food items stocked in our pantries, a moderate water supply and some basic survival/camping gear if we had to leave the homestead.
Also have a small collection of weapons and ammo, better than most I'd say, but still not what I consider ideal.

What we need...
long term non-perishable foods, e.g. FD or MRE style meals for a family of eight for three months.
Health & hygiene supplies for a year, toilet paper, bath/laundry soaps and etc.
Better water purification filters and bulk water storage.
More food storage/canning supplies, first aid/Rx, supply of shoes/clothing for growing kids, a bit more in-depth with the survival/camping supplies/gear and a few select firearms and significant ammo and a host of other misc items.
 

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it's an interesting question, not sure either way, hard part is, if I'm indebt when SHTF, if it's due to financial issues, creditors and repo men may come a knocking and then I'd lose a lot of stuff I need, for now I'm kind of in the middle, not set either way, but not stuck either
 

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I'm with you. In debt and prepped. Cause when it goes down, there isn't gonna be any money, or anyone paying for anything. The one's with beans and bullets, are gonna rise to the top. The soft ones with large homes, fancy automobiles, and fat wallets are gonna be the first zombies.

They are DEAD, and don't even know it yet. ;)
 

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I've come to the conclusion that debt isn't going to mean anything when S truly HTF. If some creditor wants to try and come find me, good luck to them. I hope they're prepared. At that point, if they're trying to come and take something from me, they will probably pay the same price someone trying to come and steal things from me. At that point, I will not be asking many questions, I fear.
 

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How about prepared with little debt? If its a gentle slope leading up to the drop-off I would rather not be clawing my way up hill.
 

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I've come to the conclusion that debt isn't going to mean anything when S truly HTF. If some creditor wants to try and come find me, good luck to them. I hope they're prepared. At that point, if they're trying to come and take something from me, they will probably pay the same price someone trying to come and steal things from me. At that point, I will not be asking many questions, I fear.
my thoughts exactly!
 

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I'm not trying to come off as some Rambo who's going to be gunning down everyone within a square mile, but if I've done my work, made my preparations and have my family in a situation to where we can survive rather comfortably, much like now, I deserve to be able to keep it, or share it where I like rather than having someone else telling me where my stuff is going.

In sincerely hope that none of my weapons are ever used to kill someone. That will be the worst day of my life, only to be followed my many more after that. But if the time comes, I believe that I'll be ready to do what's needed.
 

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Wow I am going to disagree here. Putting your self in debt for a maybe situation and depriving your family for a more certain situation. You WILL need to pay your mortgage/rent or you WILL not have a home.

Here's an idea buy things as you go and stock up. I know crazy right, be responsible and buy things as you can afford them.
 

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Wow I am going to disagree here. Putting your self in debt for a maybe situation and depriving your family for a more certain situation. You WILL need to pay your mortgage/rent or you WILL not have a home.

Here's an idea buy things as you go and stock up. I know crazy right, be responsible and buy things as you can afford them.
I hate to sound like an old folgy but ^^^^^^^What he SAID!!!! We all know **** aint right around here but we dont know what the future holds and I'll be damn if I become what I hate!!
 

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It's a slippery slope...prices for commodities are low right now compared to what you will pay after inflation. However, like some people have said your debit could cost your family your home.

I'm probably in the minority here, but I don't think things are going to totally fall apart for at least a few years. Personally, I'd make getting out of debt my number one priority. Prepare as you can little by little over time...a box of ammo here...a number ten can of food there.
 

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Living debt free (well almost for us, the wife still has some school debt) is were it is at.

My house may be crap, but its paid for and I am making it better slowly (finish installing a used 6'x10' window I picked up for $250 to help turn what was a cold closet it into a baby nursery/green house, is today's project). The 05 Avalanche is paid off, and we are letting the direct deposits that used to go into payments accumulate for emergencies or the next vehicle. I may not have 6 months worth of food stocked up, but the pantry is pretty full and I just helped Dad fence in another acre plus for his huge garden. I may not have the tacti-cool setup; loaded AR, a couple of side-arms, full gear and 5k rounds for every caliber. What I do have is about 900 rounds of Russian .223 for a kel-tec SU16a with a good 2-7x scope, a hi-point 9mm carbine with 150 rounds and my XDm40 with about 80 rounds, in addition to the pre-gun-nut/hunting collection of my youth; 270win bolt gun, 12 gauge semi and a marlin 60 and a box or 2 of ammo for each. I should be able to last several years hunting and defending myself from radioactive biker mutants with what I have.

I think I'd rather risk the world doesn't end tomorrow and be a bit under-prepared than to be 100% sure I'd have a plastic monkey on my back sucking me dry with interest every month.

If you really want to be prepared, live debt free and modestly. You will have all the money you could ever need for dry beans and rice in short order. More importantly; you'll also be prepared for personal SHTF scenarios and not just a zombie uprisings.;)

All that said, don't save too much money. Inflation will kill that nest egg. Buy stuff now that will last several years (I just picked up a nice welder, MM252). Just don't go into debt over it.
 

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If I had to choose one of the 3 you listed I'd say a little in debt and partially prepared.

I am partially prepared but with zero debt and substantial savings and investment.

The question for me is after paying off all the bills every month and saving and investing how do I allocate the remaining money.

As in what % to prepping and what % to living life.

I want a new Tweed suit, it won't help me at all in survival but it will make me happy wearing it and I have to wear suits for work so it contributes to me keeping a job and income. An even more "wasteful" example is the trips my wife and I like to take. We like to take at least one big trip abroad each year which we pay cash for but costs enough that we could have bought a year's worth of freeze dried food for 2 people. It is one of our very favorite things to do in all the world so why give that up in order to prep for something that may never come?

I know the whole "prepping should only enhance your everyday life" but if I have to give up my beloved vacation with my wife for a giant generator I may never use I don't agree with that statement.

I guess in the end it is all about balance. This month I bought that new cardigan sweater, shirt, and tie I wanted and I sent my wife to Ireland on vacation but I also got a Mr. Heater propane heater, 120 serving bucket of Wise food, and 200 rounds of .308!
 

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Depends on your area and circumstances ... as usual.

Just prepare enough to be able to get to a safe location, and sustain yourself and family until help arrives. Put together a decent BOB, if you live in an area prone to natural disasters (floods, hurricanes, tornadoes, blizzards, etc), and have some means of defense (a gun or two). Guns, particularly if you live in, or close to a major metropolitan area. Also, store some canned goods. You can do something like that and not go into debt by buying a little whenever you have an extra few dollars (a 20lb bag of rice or beans is about $20).

If you want to maybe "go all Glen Beck" by buying enough food, bunkers, and ammo, to make it through Armageddon, I wouldn't recommend going into debt for that, because like others here have noted, it probably won't happen.
 

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Being deeper in debt is not a good idea. The debt-holders will come after you full-bore to stave off bankruptcy for themselves.

In the great depression; the people who were in debt lost everything to their creditors, and the ones without debt survived.

I agree we need to be prepared, but going deeply in debt is not the answer. If you truly want to become fully prepared, then take a look at your present position. What things to you own that are not essential to survival? The next thing is to start selling stuff, and using that money to buy survival gear/supplies.
 

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One criticism of being in debt yet fully prepped is that you prep is still costing you money in the form of interest. You would be better in situation 3 having no debt and no prep. This means you can go pay cash for your materials. It also gives you options. If you are debt free you can always borrow to sat acquire second retreat. Being debt free gives you way more options.
 

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I vote debt free, and prepped.

For one, when you dont have the chains of debt looming over your head, you will have money to prep.

For two, when the stuff hits the fan, you can lock and load without worring about every debtor in the universe come knocking for their stuff.

Ideally, I want to fall off the grid, and nobody even knows Im gone.

I guarentee you this, when the stuff goes down, everybody you owe money to will be knocking your door down to get what's theirs.
 

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I vote debt free, and prepped.
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I guarentee you this, when the stuff goes down, everybody you owe money to will be knocking your door down to get what's theirs.
Yup. There are plenty more degrees of SHTF than just EOTWAKI and holing up in a cave for 6 months while whatever burns itself out. I doubt there will be massive bailouts for the next credit crunch, so banks will be out for blood. Don't forget they can come after your gun collection if you declare bankruptcy, not to mention your off grid camp with the food cache and garden.

You could easily lose it all and have no credit or employment prospects...all just 6 months before it gets real scary out there as civilization makes the last few laps circling the drain. I find that scenario more likely than EMP/Solar Flares wiping out all debt with little or no warning. Debt free is the way to go, and if you must have debt, make it low fixed interest "good" debt.
 

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Pay off the debt if at all possible, even if it means that you can't prep as much as you would like to. Don't expect "Patriots" The banks are not going out of business and they are going to be repossessing and foreclosing like it's going out of style. The rule of law is still going to be in effect so you're not going to gun down the repo man.

Consider getting rid of debt a prep and you'll be okay.

The world is about to go on sale. Those that are financially prepared are going to reap the benefits.
 

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Get out of debt and stay out of it.

There is no reason to sacrifice the present to prepare for the future.
 

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It can work both ways. The first is from a German colleague from I worked with in 1990. He had gone to Israel in the early 80s for several years for IBM, paid in German marks. Instead of renting an apartment with his per diem pay he decided to buy a small house. Then inflation went out of control, but his pay was stable so it did not affect him except on his house payments, they became ridiculously low. He said toward the end the bank sent him the title and a letter saying it now cost more to process his payments than payment was so the house was his and please don't send more money.

Around this same time frame I was told this story, I was talking to one of our employees in Brazil. At noon he had to leave. When he came back he explained to me that it was payday and they got paid at noon. He had to sign his check and give it to his father to cash and go shopping for whatever goods he could find, tv's, vacuum cleaners, etc. He said inflation was so bad that they would do this and barter for what they needed, if he waited until after work then it would affect how much he could buy.

Now if the currency that fails is the one you depend on, you'll be buying whatever is available to barter with and try to survive. If you're an outsider with a stable currency, you may be riding the gravy train.
 
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