How to Put Money in a Safe Place During a Recession

Put Money in a Safe Place During a Recession

When the economy looks like it's about to collapse and you have money in the bank, then you might start to panic. The banking system is falling down like a stack of cards and your money is getting tampered with through fees you have to pay to the bank. The banks are ripping their customers off more then ever before. Here's some tips on how you can stop all the madness.


Step 1

The first thing you need to do is join a credit union. The credit union is a safe place to bank at and they cater more towards their customers. The best thing about credit unions, is that they have high interest savings account and they don't charge outrages fees. You can also go to other credit unions and do transactions. If you don't want to fall a victim to the banking system, then you should take your money out the bank and close your account. The credit union even survived the great depression. Put your money in the hands of people that really care about your financial situations.


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Step 2

Now that you closed your bank account and switched to a credit union. The next thing you have to worry about, is your dollar losing purchasing power. You should invest your money in a investment, that will retain your money's value. You can invest in hard assets that will protect your wealth from inflation. The best hard assets to invest in, is precious metals like sliver, gold and platinum. When the dollar drop in value rapidly, then these investments start to gain value. There are different ways you can buy precious metals. If you want to hold the physical metal, then I would buy sliver, gold and platinum bullion coins. You can also buy shares that invest in precious metal companies. There are several ways you can buy shares, you can buy individual stocks, mutual funds or etf funds. The best and cheapest ways to buy shares in precious metals, is through an etf fund.


Step 3

Reinvest your money back into your business. If you own a home-based business and you have it incorporated, then reinvest your money back into your business and save your tax dollars.



Step 4

Set up a charity or foundation, so you can donate money. You can get a tax deduction and have more money coming back to you, instead of the government. You can also be a helping hand to others, by donating a portion of your wealth.


Start now!


Put a plan together.



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