Can we measure our economic preparedness?

[CoffeeCat]

You know how the government issues "checklists" for people--so people can take a personal
inventory and determine how prepared they are for a disaster--such as a tornado or a terrorist attack?

I'm wondering if we could somehow put our heads together and come up with a checklist of items that
will help people better prepare for the coming economic shit storm.

I guess the "mama bear" in me, wants some at least some line of protection from really
bad circumstances. I want to protect my children and my family.

I'm trying to prepare, but when you prepare, you wonder if you are doing the right things and making
the right choices.

For example, many people (including Peter Schiff) say to have cash on hand that equals 6 months living
expenses. Ok, so what the hell do you do with the cash? Are banks safe? Should it be under your mattress?

I wish to bloody hell that someone would enter my living room---ask me a series of questions, and then hand me an
in-depth analysis on my economic preparedness. Am I sitting pretty well and ready to take on difficult circumstances
or am I very vulnerable?

I think talking about "preparedness" could help people be constructive about specific things we need to do.
We can read all of the depressing articles about layoffs and bankruptcies, but in the end--we need tangible
actions.

What should be on our "DU Economic Preparedness Checklist of Things We Must Do or Have, In Order to
Increase Our Chances of Weathering The Upcoming Economic Storm"?

[MUAD_DIB]

1. Buy a safe if you don't trust the bank, or leave your cash in a

safe deposit box.


I weathered the last storm 2001- by swallowing my pride and entering into a field that earned half of what I had earned before. I'm back in my field now, but that can change with the drop of a hat or the continued drop in the DOW.

If you have multiple talents then maybe you could pick up a second job for extra cash.


Lastly, you might want to talk to the Gun forum about preparedness... and I really hate to say that.

[CoffeeCat]

2. That's another good question...

...is having a gun a necessity for preparedness?

Many say that it is.

My "talents" are quite questionable at this point. I used to work in high-tech PR, before I became
a stay-at-home mom. I am thinking of getting a part-time job--anything. I don't think there will
be a lot of demand for PR people. Communications and marketing budgets are often chopped during
economic downturns.

My husband works for a high-tech start up. They provide broadband Internet service to businesses.
It could go either way with him. Businesses need the Internet to survive, and his company offers
low prices. However, there's major risks with high-tech start ups, but this company has been
around for a while now.

[MUAD_DIB]

4. That's not always the case. I'm a creative in the print/web world.

Marketers/account people tend to keep their jobs: gearing up for the next round of business.

The creatives (design/web/illustration) people tend to get the axe first.


You could always get a bat. ;D

[SmileyRose]

3. At one time I had FOUR YEARS of savings and still almost went bankrupt

My husband went off to Desert Storm and got wounded. He was medically discharged and had to fight more than 5 years for his benefits. It took him 6 years to be able to get training and to physically be able to work full time again. Now I have very little in savings but we managed to pay off the house and have no debts at all.

I used to think you can plan for your life to blow up in your face. You can't. All you can do is build a support system and life/problem solving skills that will help you mush your way through it until it gets better. -- this is not to say saving is a bad thing.

[RainDog]

5. I'm so sorry to hear about your husband

but glad to hear things seem to be getting better. there is so much heartbreak in this nation for no reason other than stinkin' money.