Man, this one hits close to home at this particular timeframe.
This technique will seem mundane and one of those things we’ve “all heard before” (especially from elders), but if I were to start my preps all over again and I were 20 years old again there’s one thing that would definitely do differently and it has to do with living life in general, not just for prepping.
Here it is –
If I had to do things over again I would minimize or eliminate as much revolving credit as I could and pay for things after I had saved for them.
Thats it – but just this one little thing would have saved me hundreds of thousands of dollars that went to the bank(s) over a 35 year working career and could have been put back into preps, property, travel, etc. I’m currently going through a third refinance on my house and this has all been put in stark perspective (should have caught on before now!). Let’s just say that the banks (legal thievery) got all their interest up front, I got little to no equity and get to start my 30 years over again for the privilege of saving $900 a month. Had I learned why my grandfather had taken three jobs and paid off a 30 year mortgage in 5 years, I would have been much better off. Had I learned that the credit card companies do the same thing, I would have been much better off.
So my advice to anyone who’s “starting” – watch very closely what the credit world will do to you and run the numbers first before you buy into it. If you don’t it will cost you.
What would I have done with all this hind sight?
1) Buy raw land, without a house and pay it off as soon as possible.
2) Live in an RV, used mobile home, shed, whatever and build a house a little at a time as you can pay for it. Save up for the foundation, then the framing, then the roof, then the siding, etc.
3) Learn to shop wisely – closeouts, scratch and dent, combined orders, whatever.
4) DON’T carry a credit card balance if at all possible. Use them to get credit so you can survive, but pay off at the end of the month or as soon as you can to keep charges low.
5) Learn to grow your own food and raise livestock if possible. Even a few chickens can go a long way.
6) Live frugally, even if just for a few years to get established. It doesn’t have to be forever.
Anyway, hope the helps some – it’s lesson that cost me a second house (or more land). Put off what you don’t “need” until later after you’re living in that mortgage free house.
Arms discourage and keep the invader and plunderer in awe, and preserve order in the world as well as property... mischief would ensue were the law-abiding deprived of the use of them.
- Thomas Paine