While it’s true that during hyperinflation, or any economically traumatic situation, money could become next to useless. In 1923, the hyperinflation in Germany was so extreme that people used bank notes to cover their walls because that was cheaper than actually buying wallpaper.
However, we think you should still be financially prepared for any situation. There are two basic levels of catastrophe, and you should financially prepare for them in very different ways. We usually think of prepping for a national crisis or zombie outbreak, but individual or local crises may be more likely to occur and just as traumatic to experience.
In cases of widespread catastrophe, you’ll definitely want the works: guns, ammo, lots of food, water, and survival equipment. Basically, you’ll want everything you need to survive long term if society were to completely break down. In these cases, cash probably won’t do you a whole lot of good. But being stocked up on necessities will. These items may become the new currency if the economy were to collapse, so it’s a good idea to start stocking up on what you will need now.
In a local catastrophe, however, money will still be available. These types of catastrophes include house fires, local flooding, an earthquake, hurricanes, etc. In these cases, you’ll definitely want your bug out bag, but because the overall national economy is still stable, you’ll want some money on hand.
Having money saved is even more important for personal catastrophes. You could lose your job, get injured, or any number of things. In these cases, no amount of guns will help much. You will need money until you can find a new job, to pay for your medical bills, etc.
As preppers, we want to be prepared for anything. Different types of crises require different types of preparation, some might require long-term survival in a remote location, others might require 3-months’ worth of living expenses in the bank. We should be prepared for any of these situations.Check out Prepper’s Base for more prepping and survival tips and products.