As world conflicts escalate and the threat of fuel and other shortages looms large, the so-called ‘preparers’ are beginning to prepare for what may happen.
But protecting your finances against unexpected disasters is just as important – and often overlooked.
The biggest concerns that can affect our ability to find our money and buy the things we need are not very easy.
However, while we are safe from the likes of power outages, cyber warfare and financial crises affecting the banking system, there are other risks.
Even small problems can lead to financial disaster. You only have to look at computer risks – with the Lloyds Bank data leak last month and Mastercard’s failures last year – to see how vulnerable we are in today’s world.
The so-called ‘Doomsday preppers’ think about these dangers and make small changes now so that they can be prepared when disasters occur.
Here, they share tips that could save you thousands of pounds in a disaster, big or small…
Ready or Not? Dan Goss, pictured, founder of the website Start Prepping UK, grows his own food and stores essentials in case of financial problems.
Have accounts with different banks
Banks have experienced many technical problems in recent years, causing their systems to go down or people having problems accessing their accounts.
On March 12 this year, some customers using the Lloyds, Bank of Scotland and Halifax apps on their phones were able to see details from other people’s accounts.
The big event happened on February 28, 2025, when the bank collapse hit Lloyds, Halifax, Nationwide, First Direct and TSB in a multi-million pay day.
And on March 9 last year, there were problems making payments and shopping online using Mastercard payments due to a technical problem.
These problems were solved quickly, but what if they had spread or passed for several days?
It pays to have several current accounts with different banks that aren’t linked to the credit and debit cards advertised at rival Mastercard and Visa. That way, if your bank or internet goes down, you can rely on another.
Remember that money is the king of trouble
There’s no reason to panic and pull your money out of the bank, but doomsday preppers suggest that keeping money somewhere safe is important.
Sgt Prepper’s, an online survival store based in Bishop Auckland, County Durham, believes it makes sense to prepare for the unexpected. That includes having an emergency pot of cash that you can always access.
It says: ‘The UK is a highly digital economy, relying only on debit cards and digital payments in times of emergency.
This puts you at risk of power outages, banking system failures or being unable to access ATMs without warning. That’s why it’s always important to keep a physical balance.’
It adds: ‘There is no one-size-fits-all answer to how much money you should have. However, preppers usually recommend starting with at least two weeks worth of expenses – this means keeping enough money aside for food, fuel and basic supplies.’
While cash may be king, smaller notes such as £5, £10 and £20 are more useful for everyday transactions in an emergency. It is often difficult to find shops to accept £50 notes.
People should be careful about keeping a lot of money at home, in case of theft.
Preppers suggest separating money in different safe places – in a safe deposit box, an emergency bag, or perhaps in a secret storage place, like a closed book.
Readies: While cash may be king, small notes such as £5, £10 and £20s are very useful for day-to-day operations in an emergency.
Do your own grocery shopping
Burying gold at the bottom of the garden in preparation for Armageddon is a bad idea, according to Dan Goss, founder of the website Start Prepping UK.
He says: ‘That’s the case – but even though investment experts may tell you to invest in gold in times of crisis, in a real emergency it won’t be as good as basic things like food and fuel.’
Instead, he says, it’s better to get out a shovel to dig up fruits and vegetables.
That way, you’ll be protected against price gouging – and have an affordable source of delicious, home-cooked food. The 34-year-old from Liverpool, who is married with two children aged two and five, owns an allotment near his Merseyside home.
He grows potatoes; box; onions; garlic; fruit trees; and sunflower seeds, which he crushes for vegetable oil.
Goss says: ‘Being prepared for the worst can save you money and bring joy to self-care – with growing your own vegetables a perfect example.’
You can save more than £1,300 a year by growing your own fruit and vegetables instead of buying supermarket alternatives that rarely taste good, says the National Association of Garden & Leisure Gardeners.
Important: Along with growing his own food, Dan Goss collects canned goods and other basic items.
Be insured for the worst…
Having insurance to ensure you have protection against adverse events is important.
Goss says: ‘It doesn’t have to be an atomic bomb falling on your house – but think about a freak storm that engulfs the house, or a job loss causing financial problems, perhaps.’
When you take out insurance, make sure you keep the documents carefully and know where you can find them quickly. Having digital copies is also a good idea.
That means that if, for example, you have a flood or fire at home, you have access to the insurance documents you will need to make a claim.
You may also want to store other important documents in a secure manner so that they can withstand disasters or be accessible even if systems such as email go down.
Goss adds: ‘We have copies of passports, birth certificates, family photos that we don’t want to lose on the hard drive. You should also submit any documents showing ownership of stocks and shares, Isas, pensions and other assets; insurance; and the duties of your goods.’
Volunteer to help others
Think of other people in your area as times get tougher.
Goss says: ‘Build roots in the community and create a network to help each other in times of trouble. The image that some people have of the Doomsday prepper as an isolated person locked in a basement is far from the reality of what you really need.
‘By working together, you can overcome the challenges and simplify the everyday challenges of financial life – working together to save money and make it easier to trade with others.’
Local garden clubs are a great place to meet others and share ideas.
Volunteering for local charities, food banks and ‘zero waste’ groups can help you build the positive vibes and friendships that are so important when you’re in financial trouble – and sometimes.
- What are your tips for financial preparedness? Email moneymail@dailymail.co.uk
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