Financial Prepardness

[YesterdayOnceMore]

I am very new to all this, so please help me out! Below sounds very over paranoid, tin-foil hat-ish. I am not!! I am just wondering...

I have read about being prepared for an economic collapse, but nothing I have read has been very helpful/reasonable. I therefore have the following questions that I would be grateful if people could help me with:

What would happen if there was an economic collapse?

What is reasonable to do to prepare for this- stockpiling years worth of food and water isn't really something I could do. I will keep some cash at home (more in case of shopping in power cuts than financial collapse though) but not enough for very long. Are there other financial things that help- paying off mortgage and credit cards and if so why?

Once mortgage is paid off though, we might as well save though. If there was an economic collapse, we'd loose it. If there wasn't, we'll have a nice retirement. I was reading one site about cutting down on all no-essential spending, which makes sense if you are paying off debts or are living beyond your means or saving. But If you have paid off your debts are aren't overspending, your choice of what to do with your money is spend it on non-essentials or save it. Neither of which would help you in an economic collapse.

Basically, I'm confused!!

howtorebuild - yes that is my conclusion too.

The central banks of the world have run out of ideas. They did near zero interest rates and quantitative easing and it hasn't worked. Now that are trying to think what to do next. Negative interest rates and so called 'helicopter drops' of money via direct funding of Government are being considered.

Really? Are things so bad that central banks are desperate enough to take money off savers via negative interest rates and print infinite amounts of money to fund whatever Govt decides to spend it on?

I think it just shows how bad things really are if such desperate measures are being considered. They wont work, we need a debt right off via massive recession.

Capitalism doesn't work.

The other thing I note is the questions the government asks in yougov surveys.

I don't think anything is imminent though money wise, there are likely to be new year changes.

Well that's all a bit scary!

Is the idea of negative interest rates to get savers to spend all their savings?

Keep people spending instead of saving, and keep houses moving perhaps?