Inflation, Your Money, and What to Spend it on… These Prices Aren’t Coming Down

58 Comments

1. Told old man about your post and he agreed. He now wants to buy another 1550 water tank for the garden and is figuring out how to solar our well with an inverter from 12 volt solar panel to 240 volt pump. It is at 3 or 400 ft deep and we could have water to our house in case the shtf.
   Thanks

   1. Hey old lady (DW won’t let me call her that, so thanks ;-)
      Good call on being able to get water out of your well with DC/Solar power.
      For the size of inverter and the batteries to support a 240V AC pump and the pull from that deep your DH might consider instead sourcing a DC well pump. This may be a good subject for Ken to push to its own thread. But I’ll give you a couple thoughts first.
      A too small inverter, or solar panels that cannot put out the power required for the AC pump startup, or batteries too small to support the short bursts of power to pull water up from that deep may just not work at all or be extremely inefficient.
      Consider looking at a DC powered pump.
      You can get them in anywhere from 30 to 300V DC. The good thing about a DC pump is that they typically use what is called a universal AC motor. Which will run on either AC or DC power. Grundfoss sells pumps with a rating of 30-300V DC and 90-240V AC. From their advertising literature they have “Seven pump models can deliver from 2 gpm at 600 feet to 65 gpm at 20 feet of head with a 1 kilowatt solar array or less”.

      Its very likely that your DH can get a simple 12V inverter to 240VAC to power your 240V AC pump. The cost will not be all that much. And it will/may work well for a short time. But when conditions are not optimum, meaning that either your solar or battery are limited, then having a pump that will run directly from DC gives you options. Scavenge 6 old car batteries that will take a charge, hook them in series and right to the pump. The DC pump will use only what it needs if your batteries are too big, and it will run at lower (and more inefficient) speeds if they are small and strain the batteries. But they will still work and bring water up.
      An AC inverter that trips out on startup load will never get you any water, even with solar and battery hooked to it. Just some things to consider going to a DC pump. Maybe Ken makes (or adds to an old) thread. :-)

      1. Sorry one point I forgot to make clear. An AC powered pump running on batteries and inverter requires both batteries and an inverter. A DC powered pump has the advantage to run on batteries only even if you have to scrounge up old car batteries. Or they can run on solar only without batteries as long as you have sunshine to input. The DC powered pump will give you options.
         (Little known fact, most vacuum cleaners run Universal AC motors. Hook 120VAC to them and they will run as expected. Hook 12V DC to them they will run slow, 48V DC they will run faster, 120V DC they will run just like plugged into the wall). DC well pumps are the same animal :-)

         1. Prepared,
            Excellent point on the dc pumps. They make even smaller ones than you mentioned. I ended up with a deep well (250′) dc submersible. It will run on 12vdc or 24vdc. Very low volume (around 1 gpm on 12vdc). As ya mentioned, don’t even need a battery, just the panels. When the sun shines it pumps.

            Requires 1/2″ piping with a check valve halfway to the top. Do the math and it’s a lot of water. Of course you’ll need a container (tank). Gravity feed or another 12vdc for pressure. Lots of options. Truly a barterable thing, potable water.

   2. OL, we went with eight 315w solar panels, an inverter and 20 nickel iron batteries from Iron Edison. Initially to power our 220 ft deep well, but it actually powers more such as our lights and appliances when needed. I love the quiet as opposed to running gas powered generators. We are very happy to have this solar choice.

      1. PS, the pump would run with just 4 panels, but we wanted faster/more charges to battery bank. It works well in winter too.

2. Invest in your future. My wife asked why I bought a jackhammer? I said it’s cheaper than it’ll ever be again, and I’ll need it someday. I did too, a couple years later, and it was already paid for. Invest in essentials, keep an emergency fund, get out of debt. And don’t forget to help others when you can.

   1. Good advice.

   2. @Old Alaskan,
      I agree on the concept of investing in tools. Some of the oldest things I’ve ever bought new that are still in my possession are tools. The ones that are dearly departed (or stolen) always cost more to replace than the first time you buy them; always. The old Gold Series Sears circular saw a friend got me when I left the service 30 years ago is still working fine. I’m sure it cost $35 back then. I’m going to use it tomorrow to build some stairs for the cabin. A blade for it costs that much now. I only just recently bought another one to keep at the house that is 2 hours away. It cost $165. Good tools will last a long time, says the pair of Craftsman needle nose pliers I bought in 1988 that are still in my every day use pouch.

3. With so many progs wanting a wealth tax careful purchases are necessary. At some point they will want to know everything you have including any money, gold or silver stored at home. “That old tractor is worth some thing. You should pay taxes on it!” (every year). It’s coming. Anything you can purchase and actually keep without it being noticed will be worth a lot. Just be sure you need it and get it soon.

   I have to agree with get out of debt and stay out of debt is a good investment.

   Was in a big box store the other day and picked up some wood screws for a dollar a box. Didn’t need them but they were a good investment. Not likely to be noticed if I am inventoried.

   1. Good point on a wealth tax, it is smart to buy PMs or other tangible investments with cash, so there’s no record of it.

      Of course, when CBDCs come to America in a year or two, being “off the books” won’t be an option.

4. And invest in skills. My career has been in medical science, but my dad taught me to get a variety of skills so I wouldn’t be helpless. I’ve been working on cars for over 50 years. Several of my relatives have built their home with their own hands.ol I once saw someone making well over $100K miss a critical appointment because she had a flat tire and didn’t know how to change it.

5. That picture of Uncle Ben is NOT money! It is a debt instrument accepted for now as a trade currency and that status is fading fast. Anyone here longer than a few months already knows what they need to exchange their green scrip for. If you have anything left over, convert it to PM’s, real money since 4,000 years before Christ walked the Earth; real money no matter what happens next.

   1. I’m using my PM’s saved up over many years (yes $800 gold and $12 silver) (which I call my 401K) to build my forever house. Mostly going to use it all. But once we’re in it, can sell the mortgaged house and put the cash equity back to replace my PM stash. Hopefully, when all said and done, I get rid of my only debt and still have my stash intact. DW is cashing out her leave to pay her rig off which will leave us totally debt free. (oops no I have a couple K left on the tractor). But I still have my full paying job and lots of years left until retirement. Plus all the other preps we’ve been talking about here ;-)

6. Re the generator:

   How much gasoline does that consume a day? How much and where do you plan to store that gas, an underground tank?

   1. Bobcat – It depends on the size of the generator, load applied, elevation and few other things. Bottom line is that the conversion efficiency is awful and you can plan on burning a helluva lot more fuel than you may have planned for. So distribute your loads intelligently, and use the run time to parasitically top up any power stations laying around. Aim for no more than 50% of the generator’s rated load for best performance.

   2. I have a whole house 14kw Generac generator I bought about 10 years ago ($3000) and installed it myself. It runs off of natural gas (and can also run off of propane). No gasoline.

      1. Large Carl – You made a smart choice! Natural gas has less energy content, less lubricity and burns hotter than propane. your generator engine is built to tolerate that for the life of the equipment. Too often people try to save money by getting a portable gasoline/propane unit, and a $60 NatGas kit. They won’t make it to one year let alone ten years. Good call!

   3. Generac Home Generators are usually NG or propane, so no gasoline. Gasoline generators are the most inefficient of generators compared to other types such as diesel.

7. I am in North County San Diego and the ticket guy for the city isn’t too popular. A few months back, he was ticketing a car that looked like the owner had been sleeping in it and one of my neighbours actually pulled over, rolled down his window and started using every expletive deletive to the ticket guy. The ticket guy replies, “Just doing my job”
   My neighbour replied, ” You f*****g a******!! People are losing their jobs and can’t afford food!!!”
   I saw one lady RUNNING after the tow truck.
   Sad…….

8. On a fixed income but no debt. I own my very modest little place and 2 vehicles outright. If I hadn’t planned ahead and set up things like they are now I would’ve been completely screwed now in this inflation. Instead I am happy and content. Preparedness in action.

   Even though things are good now I definitely feel the squeeze. At some point in the not so distant future my expenses may exceed my income. I’ve been thinking a lot about the subject of Ken’s latest article, inflation, and pretty much have been trying to do as he suggests within my limits.

   I’ve been picking up a little silver here and there (from Golden Eagle Coins and another site). I don’t have much yet but if the dollar became zero tomorrow I think I have enough to pay my taxes and heat my house next winter. Or close to it. Instead of having a decent emergency fund in the bank slowly disappearing I’m just converting part of it into preparedness related items and silver. As long as I keep a surplus of funds I’m going to keep buying silver. I’ve even heard that an increasing number of places are accepting it for barter although I’ve seen none yet. Anyway, that’s my inflation plan.

   1. Congratulations on your foresight, Brian. Myself, I’m better at hindsight. Have spent some years trying to remediate that. I am developing my retirement property now, hope I don’t run out of time. Where the property is, there’s no state income tax, no sales tax, and no property tax, which is the most immoral tax of all. Somebody said in an earlier article that they’ve been retired ten years and it’s killing them. I’m beginning to see what they mean.

      1. Thanks, Old Alaskan. I had a personal SHTF about 11 years ago became a prepper shortly after. It focused me really quick.

   2. Cold Brian – Congratulations to you; financially, you are probably in the US top 3%.

9. One more comment, then I’ll shut up. When I was a kid, I would run my trap line, and sometimes make enough money to buy 100 gallons of gas, i.e. 40¢ per gallon and $40 dollars worth of fur. I don’t think I could do that today.

   1. I must be the young Alaskan because during that time in my life I remember gas being 80¢ a gallon… wink ;-)

      1. Old Alaskan and Prepared
         I must be ancient as I remember purchasing gas at 25 cents a gallon for regular. Mind you every car was like a tank and mileage sucked. And no, there were no dinosaurs in my AO at the time lol!

   2. Amazing, Timberplot. Sounds like you lived your dream!

10. The federal Operation Choke Point is currently being used to limit crypto and cash use by limiting what banks will accept as payment currency and prohibiting crypto bank links. They are corralling the currencies to unleash their central bank crypto currencies that will track each transaction and limit what can be spent on and put a time limit on its value. What ever red flag event that happens to trigger this banking reset will be designed to stun you into submission.
    Give Ceasar what is his and you, too can buy a god for 30 Sheckles. Those silver Sheckles still hold currency value, but a dollar or bitcoin will be worthless in 2023 years and god is still priceless.
    Maybe the real lesson here is to learn what real value is.

11. I’m buying my kids several pairs of shoes in increasing sizes. If there’s a war with China, most or all shoes are manufactured in that area. Supply chain could be disrupted for years. I can’t grow shoes. I cannot make shoes.

    1. @AP – Very smart! In our family, we also rotated gently used shoes & clothes that seemed to outgrown almost as soon as they were purchased – LOL – to the next junior child in the group. Another item might be to purchase denim jeans, perhaps at thrift stores, a few sizes up; the denim is sturdy and will take the wear. We added loops on the inside lower seam of the jeans and buttons on the outer side seams so we could roll up the pant legs for wear (and fastening them in that position with the loop and button) but they could be unrolled to be laundered and used as the child grew. We also taught the kids “embroidery” by having them decorate/ repair their jeans and / or adding patches where needed. The girls loved it; we had to encourage the boys with images of trucks, dinos, transformers [I know, this dates us] etc. Buy a roll or two of the copper colored thread that is typically used on blue jeans and you can make alterations and the jeans will still look original.

       1. @Always Learning, when I was growing up they were called Hand Me Downs. Some of the best clothes I had were hand me downs. I’ve even given some of my now grown kids my old jeans (because they like the old look and I have lots of them).

          @Amateur Prepper, good idea, but go the step further and buy yourself a few pair while you are at it. I am not growing anymore but I go through boots every so often. Having a spare pair or two or three shoes/boots for yourself shouldn’t break the bank. Remember the the show the Book of Eli when he finds the guy hanging in the closet dead from a self inflicted hanging wound, pulls the guys boots off, matches them to his feet to make sure they would fit, and you see him doing his happy dance after he puts them on. Having the spare pair keeps you from having to take them off the dead guy.

          1. I survived on hand me downs….and the generosity of two grandmothers teaching me how to alter. Paid my way through college sewing for others!

    2. I also ordered and received new shoes. Surprisingly they did not increase in price from the last time I purchased them. Prices in the grocery store were quite a shock though, I hadn’t been in a grocery store since before Christmas.

12. Hey all I’ve had a blast looking though this one. Responded a few times. But wanted to say something directly regarding Ken’s post. You can’t take it with you. The winner of the game is not the one who dies with the most money in the bank. The ones who really win are the ones that spend it all and have fun along the way. Its also not about leaving the best looking corpse. Now I gotta go look that one up……

    Hunter S Thompson
    “Life is not a journey to the grave with the intention of arriving safely in a well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming, “Wow what a ride!””

13. To Prepared: On the subject of hand-me-downs – I am maybe oversensitive on the subject of hand-me down clothing being the youngest of 5. My next-older brother was also trying to be a disco-dude growing up in the late 70’s. (Angels Flight pants, guys getting their hair permed, you get the picture). Who are you trying to kid! We were farm kids doing dirty work when we were not in school. Frequently, our gym clothes were the cleanest clothing we had and we did wash on frequent basis. When my mom asked me why I wore old work clothes to school instead of hand me down clothing from a John Travolta Wannabe my reply was: “because my older brother is dressing like a pimp – just look at him for God’s sake!” My father did not say a word. He simply handed me a check for several new pair of Levis and some button down shirts. Fashionable clothing and platform shoes have no place on a farm or ranch.
    It is now over 40 years in the distant past. I still tend to buy and wear clothing by Duluth Trading post and comfortables boots and walking shoes. Hooded sweatshirts by Dickies. Simple, warm and durable clothing never seems to go out of style.

    1. Cali, I also love Duluth. Very durable clothing. And I purchase lots of Ariat footwear as the insoles conform to your feet in a few weeks and are super comfortable and hold up for years. I always keep stocked a few pairs of new boots and shoes for future use. I decided after 9/11 I would never own any footwear I could not run in if need be.

14. On the subject of boots: A while ago, there was a talk on favorite boots and getting them resoled. The Redwing Irish Setters I wore while fighting fire were good for that task. Due to the nature of that work, I never had more than 2 seasons use from a pair of boots. The uppers were wasted after the second set of vibram soles were worn out. The more you use the boots for their intended purpose, the faster they will wear out. I erred on the side of caution and replaced my boots prior to having a failure in the field. These days, for walking on concrete and standing for much of the workday, I like wearing boots by Merrell.

    1. I use Merrell, too.

15. As a hunter, shooter and part time gunsmith, I invest in components like bullets manufactured by Nosler, Hornady, Sierra. These have no expiration date and will continue to work decades after they were originally manufactured. Powder has a lifetime and is subject to chemical breakdown – mostly due to heat. Primers also have a lifetime though I do not know what that use-by date would be if they are stored properly. (I have used inherited primers that were decades old and they all went bang). Brass and bullets if stored dry can be used effectively decades later.
    I consider guns and optics to be precision tools and all precision tools retain their value if they are treated and stored properly.

16. I have always found that an investment in new, high quality, firearms, bought at wholesale values, is one of the best investments one can make. I would buy a dozen Mini-14s, new in the box, and just keep them a few years, or ten Model 70, 1911 .45 autos, new in the box, and put them away for a spell. I have never lost money and the weapons stay ahead of all inflation and are always worth something…and are always better than gold, as they are a tool, which you can use…when gold no longer matters.

    Example:

    In 1873, you could buy an Colt .45 Peacemaker, six-gun, for the value of one ounce of gold. In the 1990s, you could still buy a new Cold .45 Peacemaker, for the value of an ounce of gold. However, the Colt you bought in 1873, is now worth much more than either a new Colt, today, or the current value of an ounce of gold…and it will still put a hole in things you do not like.

17. You can never go wrong by stocking liquor.
    There’s ALWAYS a market for that.

    1. Johnny Reb – Truth! But unlike food preps, be sure to stock the kind you don’t like. If you’re a whiskey guy, stock vodka and gin.

       1. @Tmac, is that so you don’t drink it before you need it for trade? I’m more along the lines of just make it.

18. We decided to take the savings and 1) buy a three stall barn and dairy goat milking station; 2) buy a solid commercial grade greenhouse that will be anchored to the back of the barn; 3) fence panels for goat and pig yards connected to the chicken and turkey yards; 4) dairy goats; 5) a few Mangalitsa/Idaho pasture pigs; 6) incubating more Plymouth Rock chickens;
    7) incubating Heritage turkeys (they just started laying!) and will continue to grow our own from the 44 in stock; 8) planning the layout of the greenhouse for best production, while planning the outside beds for same…..will put mostly vines in the outside bed…pumpkins and squashes…not so fussy about the weather; 9) worked with extension folks and my old supplier to determine grapes and berries that will thrive here…ordered and will build vineyard in late May; 10) found out that Sugar Maples will actually grow here if we are careful with their start, so going to give a couple a try and see if we can get them to thrive.
    Doing my Damnedest to get DH and my health in order and super condition so that we can enjoy this for 10 years or so. LOL

    1. Wow, nice job! That’s all level-4 sustainability…

       1. I was perusing my “prepared” Notebook and found articles from 2011 printed from THIS site in it. I knew we had been at this a long time….I have learned SO much from our MSB family, it is nice to be in a position to actually USE much of it these days. Thank you Ken for this site!

          1. Glad the site has been of value to you :=) There has been some excellent input by many people over the years.

19. Reading thru this thread this morning, I decided to purchase a few more items that I don’t really need now. But they will be needed in the future. I bought more tee shirts, socks, and underwear. Last fall I got a really good deal on a spare set of Carolina work boots at a big discount. Again, not needed now but will be needed in a year or two. Spending now while money is still worth something. Next year, who knows. Yesterday I topped up my coal bin so I have next winter’s heat already in the box. Also topped up the furnace oil tank.

20. So someone buys a car that they probably couldn’t afford and when someone who was doing their job came to get it back and idiot takes a shot at them. And we wonder why the libs want to ban guns. It’s fools like this that are a danger to the second amendment

21. This year, I will be purchasing solar panels for my silent power station. I just gotta take care of taxes first.

22. Yesterday I started stocking up on several medications – even those that neither I nor my family use often. I am concerned about the inflated cost of medication as well as will the medication even be available at sometime in the future.
    Because of the inflated cost and availability of food I have greatly increased my garden size. Here in Texas gardening can be a year-round activity.
    I have doubled my storage of propane- again due to inflated cost and possible availability issues.
    I have taken significant steps to defend protect my preparations.
    I think that a conflict between Russia and the U.S. is imminent.

23. We used Fishmox/fishflex to order amoxicillin, doxycycline (used for Lyme tick contact) and azythromycin (Z pac med). We use these sparingly and on rare occasions, but they are needed when traditional herbs are not completing the job. We have a family member who gets bronchitis and then pneumonia when he forgets his Oil or Oregano and we have bad fall season. These will not be available to us after June 1st, along with other meds we use for our animals so we are stocking now. We also stock OTC products.

    We are also very fortunate to be debt free which we believe is the number one goal after you secure a small emergency fund and have some food and water saved. It has allowed us to build our farm for us to eat good food and allows us to feed others nutritious food. It is hard work but it also keeps us in shape. The PMs will give us a resource to pay our taxes when our cash is taken from us by those in charge. It has also allowed us to purchase what we feel is necessary for our household. I imagine the needs are a bit different depending upon where you live and how you live.

    The solar is a good idea as there are more and more brown and black outs. But if you are the only house with light, people will flock to it so be careful.

    We don’t believe in putting all our eggs in one basket, but there is no way we can be entirely ready for whatever comes. We trust in the Good Lord to help light our way and that is our constant. I just keep thinking about the passage about girdling our loins so we can leave on a moment’s notice so we must be ready for that also.

24. Wife Quiz:

    Wife: Dennis, did you spend all our money on food and ammunition again?

    Dennis (searching for a reply):
    a) “it was an accident honey”
    b) “I don’t recall”
    c) “you sure are pretty today…want to go shopping?”
    d) “yep, sure did”

    1. Dennis
       Is easier to beg for forgiveness than ask permission. LOL

25. Dennis, depends on the wife. First, I would be wondering how he knew what we might need to add to the food supply. Maybe he read my log and saw a must have was missing, like not enough salted peanuts.
    Secondly, on the Ammo, I would have asked type and price. Then I would tell him that I was mightly proud of him. Then we could go shopping for some rugged clothing and ….sunscreen.
    All wives are not created equal…

26. Since we have been at this a long time, one would think we had all our bases covered by now. Problem is, we moved, leaving behind some wonderful assets for what we see coming.
    We bought a new greenhouse this summer added some matching planters, nice deep ones. Just ordered two more steel planters. I would a size that would create a walkway in front of the greenhouse. Inside, I have started the medicinal herbs that I consider the most important, or most likely to become important, for our family use. I followed up with the purchase on 2 oz bottles (blue) and labels. The droppers have less issues than the amber ones, I.M.H.O. One more grow light
    Also bought more items for the outdoor raised beds to enable me to do more vertical planting this year. Spent a bit on more non-hybrid seeds, did some more canning and dehydrating. I made more homemade laundry soap and bought one more of each product I used to make it. Working on doing a better job on our Faraday situation. Ordered more lead. I would like to have more small hardwood for the rocket stove, but there isn’t much growing around here. Maybe some woodcutters will sell us some scraps on the cheap and we can cut it to the size we need. If I die, the family is going to wonder what I was doing with bags full of toilet paper rolls stuffed with lint, wax and a fuse. :)

27. Important to add:
    Shoe Goo

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