I've seen posts on forums asking what to do about prepping - whether to pay down credit card debt or to put available funds into preps.
This seems like a no-brainer: put the money into your long-term 'bank' via prepping.
However, here's what a billionaire would do with a windfall:
"First I pay off all my credit card debt and evaluate paying off any other debt I have. What I have left I put in the bank. Then I try to create as much transactional value as possible from that cash. I look at my annual budgets for everything and anything, and I look to see where I can save the most money on those items. Saving 30% to 50% buying in bulk — replenishable items from toothpaste to soup, or whatever I use a lot of — is the best guaranteed return on investment you can get anywhere."
Now, this is a guy who actually has money, and he pays off his credit card debt first!
I know this is anecdotal - I mean, how many of us are billionaires? - but if a guy with money would do this, it stands to reason that those of us without the same vast resources might at least want to consider the same route to take.
Credit card debt isn't always a bad thing, when you use it correctly,but if you carry a balance and are only paying the minimum every month, consider looking at your budget to see where you can find money to reallocate to paying it off. The relief and sense of control you will feel are valuable preps, too.