The very first thing you should do is make sure you have three months income stashed away for hard times. If you loose your job you can cut your expenses to the bone and this money should last you four to six months. I strongly suggest you not keep this money in a bank or other financial institution. If worst comes to worst and the banks have to shut down even for a short time you are going to need hard currency to get the things you may need.

The second thing you need to do is build up at least a months supply of storable foods. Also have some portable water purifiers on hand to insure you have a good supply of potable water. Focus on healthy foods but make sure they are portable in case you have to move suddenly. Add to this cache a excellent quality first aid kit with a physicians desk reference and a three month supply of any and all medications you need. Add a ninety day supply of multivitamins for each of your family members as well.

The third thing you need to do and I know many people will disagree with me on this but facts are facts, you need to purchase and learn how to use some good quality firearms with a good supply of ammunition to protect you and your family if things get really bad. I doubt you will ever have to use them and you probably don't want to think about this but its better to be safe than sorry.

The forth thing you need to do is eliminate anything from your budget other than what is absolutely necessary. Talk to your bank and let them know if they don't refinance your home loan with a lower payment to reflect the real value of your property instead of the fraudulent value caused by real estate investors over the past decade, that you plan to let your home foreclose. They will probably not do this but it is worth a try. Start negotiating at around eighty percent of the current value of your home. You will still be paying more than it is worth, however I'm positive that no bank will work with you on anything less than eighty percent. 

The fifth thing is to repeat this process with your credit cards and other lines of credit. Call them up and ask for a reduction of interest rates or you are planning on letting the account default. Explain that you just can't afford to pay what you are paying now. Food, shelter, transportation, medical care come first and your stretched to the limit. Many times these credit account holders will work with you and it never hurts to ask.

The sixth thing is to make sure your investments are not based in currency instruments or paper. Switch them over to durable investments like gold, silver, wood, water, oil, food crops, etc. These have real value. Right now there is no real way to tell if any of the paper instruments have any value what so ever.

These may seem like extreme measures to you, but we are in extreme times. Many of you were given credit you would have never been given if the entire system was not riddled with fraudulent activity. Insure your survival first and then pay what you can when you can.