r/FinancialChat

I'm a 35yo father of 1 little child <1 year, and as iam seeeing that the world economy is about to collapse, so i wanted to know, if someone knows, what are the things that i can do before shits get real.

Sometimes i think that i have to stack gold, but during an economy collapse no one would buy golds. Other times i think i have to keep cash money in my hand, but iam afraid that the money loose its value.

Iam not so much into crypto world and these stuff.

So any advice from anyone ?

A US divorce lawyer is warning that stay-at-home spouses may receive less financial support after divorce than in the past, with some facing a much shorter period of spousal support and fewer assets than they might expect. The rules vary significantly by state, but the broader issue is financial dependence: giving up years of income and career growth can have a major impact on your financial position if the marriage ends. Would you consider being financially dependent on your partner a significant financial risk?

I grew up low-income, money was ALWAYS an issue. From searching the car for coins to pay for gas, to barely having enough to get a meal from the McD’s dollar menu. Constantly watched my mom have panic attacks about money.

So let’s just say, money has always felt scarce and stressful. I was never taught about it which lead to a lot of consumer debt because spending felt less scary than saving. If I was given “access” to a lot (high credit limits), I would use them because I felt limitless after a life of limitation.

Expectedly, the consumer debt has become too much, but I’m fortunately able to move home and start paying it off (no more rent).

However, I know that a core issue is that money does not feel safe to me & even facing the numbers overwhelms me. I have never had direct guidance on how I should handle my money and what my thought process is when going to spend it. For those of you that have experienced the same, how did you begin feeling safe with money and what did you do to improve your financial habits?