You will find many saving tips that include you buying up gold and other precious metals for the time when currency stops being effective. While this is good advice, it is failing to think in the shorter term after SHTF. After all, immediately after a catastrophic event, money will still be useful and most people will not take your gold as currency; that will come at a later time.
You will have to save money mainly for two reasons, those are: emergencies and buying up equipment. The first one is self-explanatory, it is always a good idea to have some money reserved for emergencies, after all you know better than most that tragedy can strike at any moment and you should avoid being held back by them.
The second one requires a little more explanation. You will want to have equipment that lasts for a long time when SHTF and most of the time —though not all— the longest-lasting equipment is the most expensive. Saving up for these things will allow you to feel safer in your ability to provide for yourself in an emergency, since you know that your generator will not let you down, in this way by spending a little extra now you will be saving yourself a bunch further down the line.
Cutting Down Household Expenses
This is the first area where you will want to start cutting back as long as you remember that cutting back does not mean suffering. Statistically, people with larger savings accounts are those who are smart when spending for their home, these tips will not only allow you to keep afloat; they will also allow you to start saving up for emergencies and new equipment.
Used Can Be Just as Good as New
This is a truly helpful thing to remember, most of the time we think that buying something new will mean that it will last longer. This is not necessarily true, especially since things today are made to last as long, so you go out to buy a new one. Buying old furniture will get you out of this vicious cycle, old furniture was made to last, and so it is guaranteed to last longer than an Ikea chair.
The same applies to clothing and other items. Buying at thrift stores and Goodwill will guarantee you a good price for gently used clothing. They will not look like hand-me-downs, but they will save you a ton of money. Also, if you have children, you can organize and exchange cycle with your neighbors, which is great because kids will be getting new stuff every once in a while and nobody will be any poorer for it.
Get Used To Fixing Things Yourself
Perhaps you already know how to fix some things around the house; however, it is likely that you are would be able to repair anything if you had the right guidance. Before calling up a repairman to fix it, you should Google the problem and try to find the solution online. There are thousands of instructional videos uploaded every day, ranging from the simplest life hacks with the simplest tools to the most complex fix with heavy equipment. Look around and you will be able to save hundreds on repair work every year. This has the extra benefit of being able to repair anything after SHTF when you can’t depend on calling up a repair shop.
Search for parts online and find the best price, more often than not you will be able to find what you need for at least than half the price of what a repairman would cost.
Being able to repair your own things also means being able to repair the tools in which you use to repair your things. Keep this in mind when acquiring new fixing skills.
Review Your Insurance and Other Bills
Every year review your insurance; look for better coverage, better prices, etc. This will not do much after SHTF, but at least it will help you make sure that you are protected while the system lasts and this is not to be underestimated. Do not just focus on the big companies either; some smaller insurance companies have lower rates to attract new customers, take advantage of this fact and search for a better option.
Do the same with the rest of your bills, whether it be the Internet, phone service, or anything else that comes with a monthly expense.
Put Off Turning On The A.C
In warmer climates, this might seem like a hard thing to do, but the amount of electricity spent during the summer months on these kinds of appliances is enormous. There are many things you can do to keep cool during the summer without the A.C; here are a few of them.
- Weather-strip doors and windows
- Keep spray bottles around the house and spray your face whenever you get too hot
- Open the windows early in the morning, when the sun starts climbing close them again
- Consider investing in blackout blinds, if you can’t then put aluminum foil over the windows will do the trick
- Plant trees outside your west-facing windows
- Drink 8 glasses of water every day
Put off Turning on the Heating
Following the same reasoning as the previous tip, putting off turning on the heating will drastically reduce your electrical bill. Living in rasher winter conditions, this might seem near impossible, but there are a few tips you can follow that will at the very least allow you to put it off for longer. Here are some of the most useful tips out there:
- Once again, weather-strip your doors and windows!
- Close off rooms that are not being used
- Keep inside doors closed to stop the draft
- Make a simple, cheap heater. Here’s one that will allow you to heat up a smallish room with almost no effort
- Insulate your home by double glazing your windows, covering under door cracks, using fiberglass wool, and more.
- Keep your blinds and curtains closed unless the window faces east
- Cook at home! Cooking releases a ton of heat that is usually wasted
Replace Your Light bulbs
This is possibly the simplest money saving tip, simply replace all your CFL (Compact Fluorescent Lights) or Incandescent light bulbs with LED (Light Emitting Diodes) light bulbs. At first glance LEDs are more expensive (around $8 rather than the $1 or $2 you will spend on a CFL bulb); however, in the long-term LEDs are dramatically cheaper.
An incandescent light bulb will need to be replaced 21 times in 23 years while a CFL light bulb will need to be replaced three times in the same number of years; a LED light bulb will not need replacing in those 23 years unless you break it. Already there’s a significant difference between the three in terms of saving money.
At $0.12 per kWh (kilowatt-hour), an incandescent light bulb will cost you $180 for 25,000 hours; for the same time a CFL light bulb will cost you $42, and a LED light bulb will cost you $30.
In sum, the total cost of running an incandescent light bulb for 23 years is of $201 (that is more expensive than a 2-in-1 Food Saver); a CFL light bulb will cost $48, and a LED light will cost $38.
Wash Your Clothes in Cold Water; Then Line Dry them
Washing in cold water will allow you to save as much as $1.08 on washday, it may not seem like much but looking at the bigger picture it is a lot of money saved every year. Line drying has the benefit of humidifying the air, which helps you stay warm during the winter and also saves money on electricity.
Learn to Barter
Learning this particular skill will potentially save hundreds of dollars every year. Bartering is far more popular than you can imagine in rural areas where people might have to travel for a while to get their goods.
If you are homesteading then it is very likely that you are producing at the very least your own food. Now, it is rare that you produce the exact amount of food you will need, and it is impossible to produce all the food you need. So why not exchange those extra eggs for some animal feed?
Look for items that may have a high bartering value and produce them. My grandmother used to say that if I learned to make buttonholes, I would never be hungry and in the spirit of that is that we advise that you learn how to make these tricky items and use them, not only for your own benefit but also for bartering.
Food and Garden
The easiest way to save money while building a homestead is to grow as much of the food you consume as possible. Conservative estimates say that an average American family of four will spend around $500 a month on food and other household supplies. With the right care and equipment, it is not necessary to spend quite so much.
In fact, if you have any others in your neighborhood interested in homesteading, consider trading your equipment back and forth to accomplish your mutual needs. Gardening equipment can be expensive, so setting up a mutual lending system within your neighborhood may be the perfect way to split up front costs.
Cook from Scratch
This means stop buying things you could be making at home. If you are already producing milk; then you can make your own cheese, butter, and cream, the same applies to pretty much anything in a supermarket. Sure, it takes a little longer and some planning but in the long run, you will be saving a lot of money.
This is easy and will instantly make you better prepared for when SHTF. You will not always be able to buy more seeds, either because you are short on money or because there simply aren’t any to be had. Pick the best produce from the garden and save the seeds. Make sure to research the various techniques to seed saving.
Make Your Own Compost
Funnily enough, this is not something most people think about but making your own compost has huge benefits both to your pocket and the quality of your homestead. You might be tempted to buy a compost bin (or one of those fancy high-tech ones that make compost overnight) but it is dead simple to make one (here’s another).
Having compost will not reduce your expenses immediately, but it will do it in a more subtle way. The quality of your soil will increase dramatically, meaning that you will be able to produce a lot more with the same effort, which means you will have more items to barter or sell. You will stop buying fertilizers, which are getting alarmingly expensive, and be able to use your own product instead.
Breed Animals for Sustainability
You will not always be able to order chickens online and, indeed, you might be spending more money than you need to by not breeding your own. Breeding for sustainability means buying once and keeping forever, get animals from different distinct bloodlines, and keep the best specimens to breed. With a large enough space you can breed practically anything but for cost-effective animals think of goats, chicken, turkeys and swine.
Either Produce Your Own Feed or Buy It in Bulk
Animal feed has never been particularly cheap, if you are able you can seriously reduce the cost of keeping animals if you produce your own feed; it is hard work so if you are unable to make your own then you should look for offers and buy it by the ton. You will not, however, want to go for the cheapest offer as it can sometimes contain substances that will not do your animals any favors and you will end up having to pay for the vet to have them looked at or end up losing the animal completely.
You might be tempted to fence around everything you own; however, even the cheapest fencing can be costly if not used strategically (and cheap fencing will be quite useless to keep people out). Save the expensive fences for perimeter and valuables, think about using natural fencing plants. To keep animals and to separate orchards, think about building your own fences from pallets. Why not create a vineyard around the orchard; therefore, building a fence with a purpose.
Possibly one of the bigger costs is building costs. To save in this area, you will want to do as much of it yourself; this means acquiring new skills and perfecting them through (sadly) trial and error. Remember that you should only build the things you know how to build. Otherwise, it can quickly become unsafe and very expensive. Get an experienced friend to help out and don’t forget to return the favor later when they need you. Make sure to look for the sales. Catching some building materials on sale at your local building material store can save you some cash. Just make sure to store it inside your barn, storage building, or cover it up to keep it safe until it is needed.
Finding Surplus Building Material
While in the planning stages of building, look around in your area for someone who has just finished one, it is likely that they will have some unused material they will sell cheaply just for the sake of getting rid of it quickly. Look around your local lumber mill and get gray and weathered lumber, they will sell it for next to nothing, and it is still useful (make sure it is not rotten though).
Get Your Own Bandsaw Sawmill
If you are fortunate enough to live in a wooded area; then it is very likely that your most-used building material will be wood, so perhaps you want to think about not buying timber and simply cutting it into useful boards. Remember that the more independent you are, the cheaper you are living and the better prepared you are for SHTF.
Pallets are the most versatile things out there. The wood is tough, they are easy to transport, and already they have some structure. Best of all: they are free. You can find free pallets practically anywhere, from lumberyards to supermarkets to sporting goods stores; they are everywhere. Since they were designed to last for a very long time and resist heavy handling, pallets make for excellent building material in pigpens, coops, or goat barns. Here are some of the things people have made out of pallets, just to give you an idea of just how versatile they are (and perhaps inspire a few projects of your own).
Other Practical Tips
These are just some extra ideas on how to save money while homesteading, some of them are pretty common sense, but it is never a bad idea to mention them and their workings.
Save $0.50 Every Day for a Year
This is so easy it almost feels like cheating. Setting aside just $0.50 daily is the simplest way of saving money. By the end of the year, you will have $182.5, which leaves you only $4 short of that Food Saver we mentioned earlier.
If You Use It a Lot, Try to Make It Yourself
Toilet paper is one of the very few things that is hard to make at home, outside of that you can make pretty much everything yourself. This goes in the same spirit of tip number 9, the more you avoid going shopping, the more you save, and it is as simple as that. This does not mean that you should get used to lower-quality, homemade stuff, you can make high-quality sunblock using your food processor, toothpaste, and shampoo on your stovetop; it is only a matter of finding the instructions to make it. The less you depend on the outside world, the better prepared you will be and the less money you will spend.
Think About What You Really Need
This tip applies to every area covered in this article and beyond. Before you start a new project, think about whether or not you will definitely need it and whether or not it is cost effective. Look into your closet, pantry, and shed and think about how many of the items in there you actually use and then buy replacements or completely new stuff according to your findings. Society today teaches us having more stuff makes us better this is not true. Having better and useful stuff makes us better.
Consider using what is known as “grey water” for your gardening needs. Grey water is water that has been used for showering, washing your hands, and more, but is not contaminated with feces and other waste products. Use this it to water your plants, flush the toilet and so on.
The tips listed here are probably the best out there. In truth, all you need to save money is to start spending it smartly and being able to distinguish between a good price and a rip-off so be sure to inform yourself. A smart customer is the last thing retailers want so become that person and do not allow them to cheat you out of your dollars.