I just received this book called Prepper’s Financial Guide by Jim Cobb. I believe this is the seventh book he has written. Jim is a colleague of mine in the prepper world and I have all of his books because he knows what emergency preparedness really is all about. This particular book is my favorite, although I could say that about all of his books. This one I read through the first night because I couldn’t put it down. I worked over 20 years in the banking and mortgage industry. I owned my own mortgage company for about 14 or 15 years.
During my mortgage years I refused to to do the loans that Jim talks about in his book and also suggests we steer clear of. The loans he calls ARM’s (adjustable rate mortgages) during the bubble burst were called Option ARMS. These loans would start out at 1-2% and end up sometimes at 15% or higher in the years going forward. I am also a realtor, so let me explain something. I would have licensed realtors try to talk me into doing those ridiculous loans. I flat out refused to do them. I knew the people could not afford the payments in a year or two.
The income their clients claimed was inflated and they were called “stated-no proof of income required” loans. Some of my mortgage colleagues were building mansions, buying and flipping houses like crazy with realtors and title companies doing these loans. Greed is the word Jim uses in his book. He is so right. I could sleep at night knowing I did the type of loans for people who could actually afford the payments. If the rates are down you do a 15, 20 or 30 years fixed rate loan, depending on your budget.
Prepper’s Financial Guide by Jim Cobb:
In this book, Jim talks about an economic collapse and the things that will most likely happen. I share his thoughts exactly. That paycheck, pension, social security benefit or retirement check might become non-existent. What equity you have in your home might be all you have in an economic collapse. Your land/property will be needed to be able to take care of yourself and your family. Gardening skills will be needed. Don’t forget those heirloom seeds.
If Jim is right, those debit and credit cards probably won’t work. I totally agree with his statement! We will need cash and precious metals. We will also need things to barter. He nails it on bartering items. We will need to have land in locations with temperatures conducive to grow our own food. If we can’t move we must learn the skills now to take care of ourselves on the land we live on. Do not buy a home or land where it might be in a flood zone or known for wildfires. Pay off your home, pay off debt and save money for prepper items.
He talks about budgets and writing down every single item you purchase in a month….you may be surprised where all your money goes. Put your utilities on equal pay….he has written how to live and save money for things we really need.
Learn the skills to be self reliant in every way. I highly recommend this Prepper’s Financial Guide book for anyone wanting to be self-reliant. We are responsible for ourselves…we are…no one is going to take care of us in an economic collapse.
Here are just a few of the skills Jim suggests we all learn:
5. handyman skills
This book is an easy read and he writes in a way that’s easy for the beginning prepper to the most advanced prepper. I call a Prepper someone who is prepared for the unexpected. I highly recommend this Prepper’s Financial Guide by Jim Cobb. The Prepper’s Financial Guide: Strategies to Invest, Stockpile and Build Security for Today and the Post-Collapse Marketplace