Will you be able to survive an economic depression? It seems the coronavirus may be leading us there. While things do look bleak now, it’s only a matter of time until humanity overcomes this challenge. The economic fallout, however, can’t be denied. Nevertheless, we have to do what we can to get through this time of economic downturn.
It’s not like this is unprecedented. Depressions have taken place throughout recorded history – from the banking panic of the Gilded Age to the Great Depression of 1929, etc. Based on the lessons we have learned from history, here are 10 tips that you can use to survive an economic depression.
How To Survive An Economic Depression
1. Throwing Stuff Away Doesn’t Help
The economy today runs on single-use items. It’s better, however, to reduce, reuse and recycle. In an economic depression, you especially don’t have that luxury. So, to survive an economic depression, you need to buy items that will last longer.