3 ms·
While you can't control all costs, one of the most direct and impactful is food. Good food matters to the whole family, but you have to take a careful look at w
by syntheweave 5y ago
While you can't control all costs, one of the most direct and impactful is food. Good food matters to the whole family, but you have to take a careful look at what defines "good," because in times like these where supply lines are changing rapidly, some foods will become much more expensive than others for reasons not related to their relative nutritional value. Where you can, stick to things that can be either grown locally or canned and stored for long periods, and try to make the home cooking process simple and repeatable, even if you have to sacrifice variety.
Likewise, durables can be hoarded before price hikes hit. Try to figure out all the incidental <$100 things you'll need for a few years. Invest in containers and shelving for them so that they aren't lost in a pile, but have a proper space where they can be put. Just having some cardboard or cafeteria trays around can be enough.
Regarding the financial investments, the model I would use for crises is migration. When people move their money around and put it in different assets, train for careers, etc they are migrating from one "place" to another to avoid impending disaster, just as people migrate seasonally to go where the food and good weather is. If you get this simple call of "stay or go" right, you avoid the majority of the impact from economic crises, and can even come out ahead.
For me, I've set crypto as the place, and privacy coins as a large part of the allocation. It's probably not the place for everyone, and I respect the people going with cash, but it's a call made specifically on the premise of migrating to something that governments have little influence over, since, as you've probably noticed, they're doing all sorts of things that upend investments lately. And if I got the call wrong, they'll ban it and render my assets illiquid, but I'm relying on a game theoretic analysis that says that some countries will embrace it in order to get ahead of those that ban it, and therefore I'll have a way out to fiat when I need it.