Well, neither can really be ignored. You could concentrate on getting out of debt, but still pick up some food. Just like when you're getting out of debt, you can't just pay one creditor and ignore the rest, I don't think that you can ignore food storage while getting out of debt, or vice versa. I haven't checked prices lately, but you used to be able to pick up a basic year's supply for one person for $400. Now that would only feed a family of four for 3 months, but it's still a start.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Jen, what I teach as first and most important in emergency preparedness is spiritual preparedness. Having the spirit with you will quide all your actions. What I teach are basic concepts that will work for everyone, but I also point out that some things will work for some families and not others. Again the need for spiritual preparedness first.
That said, here comes mirky's opinion.
Debt reduction is important. The counsel for food storage is important. Last June the brethren released the pamphlet All Is Safely Gathered In. In that they said you should work on getting 3 months of regular food, eliminate debt, save for a rainy day and work on your long term storage. Depending on your level of debt, I would personally be focused towards food storage. But that is easy for me to say as I have a house mortgage and a car loan to pay. Nothing else. Additionally my house payment is very very low as is my car payment. If your debts are taxing you, I would make sure that I have the three months and then see what is left over and make a decision on where to put the remaining money. If your debts are not destroying you (you can easily make your payments), personally I would be getting long term food storage. But that is me and would work with my financial situation. I believe that food storage/emergency preparedness is the most overlooked counsel from the Brethren. I also know that they distributed at the ward level a letter that was read from the pulpit telling us to get our food storage. Obviously it is that important.
The US government's fiscal policies combined with world energy supply and demand are sending inflation through the roof. The deficits, war "spending" (borrowing from grandchildren), and other debts of our government make our cash money worth less and less every second. Creating $145 billion dollars and giving it away (ooh, I want to play Santa Claus) is going to contribute to the problem.
For those in debt, rising inflation is a boon. It means that your debt will be worth less in the future. So, use your money now, while it is worth more, to buy goods, such as food storage. Pay off the debts second.
Unless they are credit card or other high interest debts. Always pay those off as soon as possible.
I have a lot of debt, but it is towards a private medical school. In fact, I think that borrowing a just little bit more than I otherwise would have from federal sources, which have low interest rates, may turn out to be a good idea. I'm typically very careful and tight with my money.
Cut the check in half. Pay down the principle on your home with half, buy food that will last with the other half.
If inflation goes as some say it will, the money we have will be worth nothing soon.
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no unhallowed hand can stop the work from progressing... the truth of God will go forth till it has penetrated every website, sounded in every ear, till the purposes of God shall be accomplished and the great Jehovah shall say the work is done
If any of you live within driving distance of Montpelier, Idaho, you could save a whole lot on shipping by ordering from www.waltonfeed.com and picking it up yourself.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Since being married to MrCoco, we've done nothing with a return except stick it in the bank. I'm not sure about the debt situation... should you pay off high interest loans first? Is your mortgage one of those that fluctuates? Do you have credit card debt that's not paid off every month? I'm no help, I guess. I would use at least part of it for food storage or emergency items like a generator or wheat grinder or something. How into preparedness is MrJen? You don't wanna go buy 1000# of wheat and your hubby's like, "What the..!!"
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Life is tough but it's tougher if you're stupid. -John Wayne
