How Much Emergency Cash Should You Keep at Home? | WSJ Your Money Briefing

[@WSJNews]

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[@BigHunny61]

We were without power for 13 days during the 2009 Ice Storm. Thankfully, we had $2,000 in cash stashed at home. It was lifesaving!

[@confusedwhynot]

Only works if the businesses are up and running. When tech goes down this country will be in a mess. Automation will be our downfall in a big disaster.

[@daviddavey1727]

Your freezer

[@M_SC]

That’s a good point

[@SouthoftheBigChicken]

It is important to keep change and small bills, 1's, 5's, 10's, 20's, 50's, and 100's. If grid goes down, there will be no change, keeping all large bills will not work. There is a story of a woman after Katrina, she spent $20.00 for $5.00 worth of items because of no change. Hope this helps.

[@MoonShadowsFarm]

Those are the only denominations the US prints. I don't keep anything larger than a $20 bill. $50's and higher get broken at the store now if I have them.

[@T.JAY.DEE.]

I would've bought 4 of whatever it was she was buying. JS

[@jenduck5520]

@@T.JAY.DEE.often rationing kicks in at a store level during a crisis so everyone can get some water or food or whatever so may not be possible to just buy more sadly!

[@randallhack4477]

​@@T.JAY.DEE.exactly!! Common sense!! Buy 4 $5 widgets with your $20 bill

[@T.JAY.DEE.]

@@randallhack4477 😂😂😂😂😂

[@joshs9066]

For the love of God, as a lifelong Florida resident don’t ever pay any contractor in cash during a storm. That’s the fastest way to say goodbye to your money and they skip town and you’ll never see them again. Tons of guys did this back in 2004 and 2005 ripping people off left right and center.

[@inquisitvem6723]

I have some monopoly type money that I can give them.

[@destroyingdadxx2274]

Only pay when job is done.

[@robertjohnson4401]

Pay at the end of the day for work done on that day.

[@M_SC]

That’s terrible. i think it’s better where I live.

[@thewisdomdivatv]

A few years ago I stopped spending $5 bills & stash them in the house. I got my husband to do the same and we have a few thousand dollars now so we got a safe.

[@situated4]

Excellent. I keep a sh-ton of them in a Kleenex tissue folding wrapper in the car. Very handy when needed and on the go camping firewood pay boxes, etc.

[@M_SC]

@@situated4oh gosh someone is going to throw it away by accident

[@demimorest963]

Someone hit a power pole in Georgia a few weeks ago. ALL of the businesses in that area only accepted cash as their electricity was out. Starving, I was glad I had cash on me. Always keep some on me. Since the food wouldn’t last long without electricity, they doubled my order for the price of one serving. Big win for me.

[@Mlanderos-t9e]

I've been feeling this strong compulsion to set aside some emergency cash lately. It's important to me to have a safety net while also trying to fuel my goals in the stock market. I'm really looking for some recommendations on how to balance saving for emergencies and investing wisely. Any tips or advice would be appreciated!

[@Raniyanhunter]

I think the safest strategy is to diversify investments. But if you need proper advice, consider speaking with a financial expertise. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@garnold-l5p]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k early this year under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@AaronTilt]

I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?

[@garnold-l5p]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer’’ for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@Mlanderos-t9e]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@muffineyes]

Senator Menendez recommends at least $500,000 cash on hand

[@motoryzen]

Well maybe that is his or her 3 to 6 months of living expenses...but for the VAST majority of americans.... that is not attainable until reaching baby step 7.

[@Bunnyacj]

And a few gold bars 😂

[@sharonh2991]

LOL! He also recommends that you keep it in the pockets of your coats and jackets, in the hall closet.😂

[@yannip2083]

He stitched his $Cash to various parts of his jacket! LOL

[@lizamorning5356]

You’re kidding me, $500,000 really!?!1

[@hisaddle]

I stopped by a McDonalds a few Saturdays ago, their system was down, all they could do was write down orders and take cash. I was fine, always have some cash with me.

[@cherylT321]

I was at my local supermarket last week. I tried to pay for my purchases with my card, it kept rejecting it. I always keep cash on me just in case, so I was still able to pay for my purchases and not have to put anything back!

[@jeffmiller9798]

@@cherylT321 smart

[@robertwalker5521]

Always have cash in the vehicle. Most tow truck operators will not accept check or credit cards. 'same with roadside emergency services

[@situated4]

I keep a couple of twenties buried in my vehicle manual in the glove box just in case as well. Came in handy a time or two while out camping (firewood), etc.

[@Oldeagle66]

I was hanging out with friends on a weekend road trip and ran into a late night diner. I was the only one carrying cash. My friends had to look around town for an ATM. I chilled till they came back.

[@geniferteal4178]

When Sandy hit I was lucky to find a deli that was open because most didn't have power. They still didn't have internet connections so they were only accepting cash. This is the kind of situation you need cash for in an emergency.

[@myvenusheeler]

I was out of power for sixteen days after Hurricane Ike and at least for the first few days it was a PIA to find stores or gas stations open. After that I started keeping a thousand dollars in cash at home. Thankfully I had plenty of non-perishable food on hand, so eating was not problematic.

[@takecare5077]

Seem like a lot have a lot of non-perishable food though I would say keep enough water on hand too (ideally for 3 or more days).

[@henryalmodovar6665]

I was in Puerto Rico during hurricane Maria, when the whole island went dark. My family spent close to $400 for around 2 weeks in groceries, gas, etc. So I'd say for extreme situations, $500 should cover the basics for a while.

[@mitchell.9632]

In inquiry: Do you find yourself if you travel spending more on the mainland? Always thought Puerto Rico had a relativity low cost of living. @henryalmodovar6665 2 days ago (edited) I was in Puerto Rico during hurricane Maria, when the whole island went dark. My family spent close to $400 for around 2 weeks in groceries, gas, etc. So I'd say for extreme situations, $500 should cover the basics for a while.

[@bradspaugh9827]

500 is not enough

[@poorwotan]

Same here after Maria. If one is prepared beforehand, the needs of cash are actually relatively small. I suppose those with gasoline generators might have needed more but us solar peeps were good to go right away. My biggest Maria expense was chartering a plane to leave for 3 months until the power was back...

[@situated4]

This is the number. I have a substantial silver mercury dime collection if things get really bad.

[@starek1701]

I had like $2000 cash when the hurricane hit. I was able to survive for the whole month.

[@theprayingman]

I am a minimalist, but I also believe in some areas i rather have it and not need it then to need it and not have it. So I have two stashes of emergency money in cash. The first is $500 in mixed bills for small emergencies, and the second is $5,000 in mixed bills in my safe for major emergency expenses.

[@user-uc9fx4ru7p]

People may laugh . But this is a real need. If SHTF. Having some cash in the house will be needed. At least in the short term.Good and important video.

[@grigorirasputin425]

What about some gold? How much gold to keep in the house?

[@kbjcda]

@@grigorirasputin425 all of it

[@MoonShadowsFarm]

@@grigorirasputin425 All you have. If you don't hold it, you don't own it.

[@Semiam1]

Ziploc bag in the toilet tank is a classic move 😂

[@norcaldeemichaels]

I have two safes. A small one on the floor of the master bedroom walk-in closet, which is the first place a thief will go. It has a 10 lb. sandbag inside, and it’s not bolted down. That’s the one they will take with them when they leave the house 3.5 minutes after breaking in (according to crime statistics) the other one is camouflaged as something else in another part of the house. It’s also important to put a safe where it is most likely to survive a fire, usually garage or basement, and definitely not upstairs.

[@GenK1991]

Its crazy to think that this newer generation sees the use of cash as archaic 😮

[@ALCAN52]

Until they see it first hand. Ask any of them if they would turn it down if you offered it to them. Then their answer is totally different. The same is true with gold and silver. 99.95% of the US population doesnt own gold or silver. They refuse to buy it. But if offered to them or when heirs who do own it die, that is the first thing they want.

[@chemquests]

I never carry cash but I can see keeping some stashed.

[@Username_CC_]

​@@ALCAN52gold is a Ponzi

[@davidmack4495]

I'm 62, and haven't touched bills or change in probably 5-6 yrs.....

[@mysterybuyer3738]

@@ALCAN52 I see gold and silver as true and the ultimate form of money. Most people dont understand its significance or would know how to use it as a financial tool.

[@alphaj9]

I think $1k seems like a decent amount to keep hidden somewhere in the home.

[@BArtleDoo92]

Under the mattress

[@johnurban7333]

As long as it doesn’t burn down or destroyed by a hurricane

[@Username_CC_]

​@@johnurban7333fire proof safe and or home owners insurance would cover it

[@grigorirasputin425]

Under the doormat

[@susan5661]

I have a small hidden safe with cash and important documents. Peace of mind

[@washguy5982]

It needs to be in small denominations, if they can’t make change you loose the difference.

[@situated4]

Yes. I have all 50s now and need to do something about that today.

[@sophiam9886]

I used to keep a stash of all one hundred dollar bills just because it's more compact and easily portable if need be. Then, it came to mind that I'd be stuck in an emergency if nobody had change, or I'd just wind up having to lose the difference if I had to purchase a vital item which could make my stash dwindle very quickly, leaving me unable to purchase other necessities. So, I then switched the stash out for all twenties. Now, I'm thinking I probably should have some singles, fives, and tens as well.

[@jimslancio]

Having loose change reduces the risk of losing.

[@Lonewolf1961-s9z]

Keep in mind price gouging could very well happen so $500 worth of goods could cost you $3,000!

[@RickGoodrich-mb4by]

I think it is important to have some in smaller denominations if all you have is $100 bills everything will cost at least $100 because no one will have change

[@clintpatty]

My credit union uses backup generators at every ATM, but I suspect that money would quickly run out if there was a sustained power outage.

[@SiliconBong]

Recently I had about a thousand dollars in a small safe, decided I only needed a hundred, a couple of fifties, twenties and tens, a dozen fives* and a small pile of coins. *if the effluvium impacts the rotating air conditioner courtesy of a sustained solar storm i'm thinking it might be handy to have small change to help with wee purchases like bread and butter.

[@michaeldew7904]

The problem would probably be the ATM communicating with "the outside" to ask your bank account if you have the money needed. It would probably not give you any money in that case. Fortunately a credit union would probably be a fairly close "the outside".

[@johnurban7333]

Just drive further away where they isn’t a power outage

[@michaeldew7904]

@@johnurban7333 that’s fine for a small power outage. A large area (like a hurricane) would make that difficult. Good idea overall though.

[@CHSwildcats19]

@@johnurban7333 That's hilarious lolololol And just where, may I ask, are you obtaining gas? Because, let me tell you, after Katrina all of the gas stations for hundreds of miles were empty - and they weren't being restocked because no trucks were even able to get in here. Trees and power lines blocked all roads in and out, plus we were under a curfew. There are so many roadblocks to attempting to live normally I can't even remember them all. People think this is a hurricane/natural disaster issue but it can literally happen anywhere if there is a power grid failure. Luck favors the prepared.

[@NoMoreTears64]

My apartment complex has a big sign on their office door "NO CASH ACCEPTED". I bet if power was out for weeks or months, they would quickly change their tune. 😂

[@Steven-xf8mz]

Ain't no one selling you anything when everything is down. Not even grocery stores would be doing businesses as their cash would be considered "loots" for criminals. The better approach is probably have enough food at home for few weeks.

[@j10001]

And a way to protect it

[@mitchell.9632]

Are you in D.C. where the power goes out for a few minutes a year on average? The corner local-ish convenience store when there was a storm was packed while on generators and welcomed the money. Out of ice though. Still can be "Looted" digitally too. And there around this area an eatery that just got a new menu system this year and still are cash only.

[@Steven-xf8mz]

@@mitchell.9632 the article was sort of hinting like a systematic power outage for weeks, definitely not like a temporary thing due to overheating at the grid or storm. Under such circumstances such as an earthquake or invasions food becomes scarce enough no one is selling or accepting cash. Gun would do much better than anything else. If you have stuff, you need ways to protect it. If you have means to protect it, you probably have enough means to get it from others.

[@mitchell.9632]

@@Steven-xf8mz Major storms *can* knock power off for over a week and recently have for some throughout and around the storm path throughout the state.

[@Steven-xf8mz]

@@mitchell.9632 I don't know the extend you're referring to. This may be biased opinion from me, because I have only seen that happen to exclusively zones which tends to be parts of cities, not like a 50 mile thing where you can't drive to a place to use your cc. Under a catastrophic event, it is unlikely cash is useful because money becomes the most useless thing around. It sounds like you're trying to counter my argument by using specific set of criteria which is fair but definitely not what I was referring to. So I do agree with what you said in a sense but also disagree because my original and ongoing comments aren't targeted to what you're referring to

[@SunnynPhilly]

7K cash + Gold and vehicle titles in a fireproof/waterproof safe

[@ALCAN52]

Good answer. But I give a more detailed answer.

[@wenettehamilton137]

You must never tell anyone. Only a highly trusted family member or friend.

[@UnicornMeat512]

Go ask your friends and family what they think an ounce of gold or silver is worth without using the internet. How are you going to trade something that 90% of people don't have a clue how to value?

[@brennelement6451]

1 month’s expenses is a solid recommendation

[@MoneyMas3]

Excellent

[@dontbanmebrodontbanme5403]

What scenario are you think of where you need to have 1 month's worth of expenses on hand?

[@edennis8578]

​@@dontbanmebrodontbanme5403If you live in blizzard country, the power can be out in town for three weeks. Bills still have to be paid.

[@1bluensx]

I completely agree. 1-2 months of your average monthly spend. Sitting in a safe, to be forgotten about spot (preferably a safe) unless a true emergency. This will be different for every person based on their monthly spend.

[@brennelement6451]

@@dontbanmebrodontbanme5403 Natural disasters like hurricanes, floods, and heavy ice/snow can knock out power for quite a while (especially in rural areas). Credit card payment systems can also go down due to glitches or cyberattacks. Of course, Murphy's Law dictates that you'll need a very expensive repair or service when you only have cash available, so plan accordingly.

[@spacecoyote6646]

The takeaway is people have different needs and means and you have to come up with the answer that fits you

[@lordbyron3603]

I keep $100,000.00 cash on hand at home! I’m not rich ; far from it ! I don’t spend much money on anything anymore. My home is paid off , my healthcare is from the VA, and my monthly living expenses (utilities, groceries, property taxes, dinner out etc.) is about $2,000.00 , my monthly retirement income is $5,200.00 a month. So I save about $3,000.00 every month.

[@9liveslisa]

Great conversation. I've pondered over this myself. And you made me laugh about where to hide it! I worried I would forget where I put it. lol!

[@ordinaryhuman5645]

Obviously it goes in the most valued thing in the house - your waifu anime body pillow. Most people would not go digging in there.

[@jackpoage5419]

I have done extensive backpacking in remote areas. When the power was off for 5 days at home I just lived like in the back country with the benefit of sleeping in my own bed in a leak and wind proof building instead of in a tent or under a tarp and running water and a real bathroom.. Eating for 5 days off my normal stock of food was no problem. I don't think I spent any money during that time.

[@situated4]

I like the way you think, friend.

[@terrigodmother]

The only challenge might be water. Maybe municipal systems still work but I have a well and without my generator would have no water. But you're right, real campers even still have campstoves to cook on and water purification methods. I am sure my family could make a week or more in relative comfort as long as our house was standing and in tents or under tarps, if not.

[@jimmyzhao2673]

A judge ordered me to keep all my valuables at my ex-wife's house.

[@claysmith4909]

😊 exactly you learn during hurricane season, when power out, gas stations need electricity to operate, ATM machines out, restaurants can't operate. Those that had generators were limited, gas stations went back to the 8o's gas line alternative. Iicense plate numbers You need cash!

[@MichaelChengSanJose]

$5-10K in petty cash seems about right to keep around. Just enough to do something in a pinch but not lose too much interest by not being in a savings account.

[@mysterybuyer3738]

Who still leaves cash in a bank account? Thats like the worst thing anyone could do these days.

[@MichaelChengSanJose]

@@mysterybuyer3738 Is there a more convenient option that costs nothing? Love to hear.

[@Ghostrider-71]

A savings account pays 0.5% after the 6 month 1.5-2% intro rate for opening the account in the first place.

[@myvenusheeler]

@@mysterybuyer3738 Uhh, probably the majority of the nation's population.

[@loblowry6282]

You probably need a million or two just to keep life comfortable for a long-duration power outage.

[@take5th]

If you own a gun, keep enough to hire a lawyer and pay bail. All I can say from experience, my own, is that I once lived through a hurricane and blackout that lasted a week, before power was restored. I was available on street corners, but was $20 a bag (1985). ATMs did not work, and anything that was available was available in exchange for cash. Bars were open!! but only took cash.

[@anncromarty2590]

Gas stations go down when power goes out too. In addition to cash, its important to have a couple 5 gallon gas containers full too. During hurricane Sandy, I had to bring my mother in NJ gas from PA.

[@TexasEngineer]

As a former power company employee and having to deal with hurricane issues, I found that the cash issue is nonexistent because when the power is off the merchant’s cash registers and refrigerator/freezers and gas pumps do not work. They can’t sell you anything without the register. If the register is up, then most likely their internet connection will take your credit card and cash. Very few cashiers know how to make change the old fashion way. The most valuable thing to have is a full tank of gas to get out of the area with a power outage. Hurricanes with power outages have a limited affected areas where you could travel 200 miles and find a hotel room. Winter storms power outages are far worse because they can be very broad in nature. A winter storm requires a generator and maybe auxiliary form of heating and cooking. Their power outage foot print can be highly variable and unpredictable. Panic buying up resources like gas and food during the outage is the major issue.

[@marycrawford3460]

Wonderful information! Thank you!!

[@sprint7412]

Good point.

[@Farmer-bh3cg]

A years worth of medicines, a strap (100 bills) of 1's,2's,5's,10's, and 20's, Whatever firearms you think you may need, two weeks of clean clothes, a medical kit, 25 gallons gas, a 5K home generator, personal items kit (soap, razor, comb, etc.), portable radio/tv/computer and fresh batteries, flashlights/ Coleman pressure lanterns. The list can go on and needs to be tailored to whether you stay in place or have to move. With Maria in PR, the entire Island had no power - the FRB shipped in Planeloads of Pallets of cash (CASH cash)to keep the economy going.

[@joja2568]

My emergency cash is base on not just food etc but in case we have to go to hotel/motel with generator for 2 week. Currently saving 5k in cash.

[@BrianMattews-i7t]

What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox?

[@viewfromthehighchairr]

People employ various tactics to capitalize on market fluctuations, whether it's experiencing an upswing or downturn.

[@AverageAmerican-m2m]

Personally, I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.

[@Too-old-Forthischet]

De-risk your portfolios, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I. We've made over 80% capital growth minus dividends.

[@AlbertGReene-p8w]

this is all new to me, where do I find a fiduciary, can you recommend any?

[@billclinton-f8n]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her

[@ladeestayceejohnson806]

Thank you for this information.

[@poorwotan]

This story is about actual CASH not other prepping one may do. I live in hurricane alley so my prep is pretty extensive (from canned/dried foods, water, batteries, portable solar panels, hammocks, tarps, fans, snacks, etc); I calculate about 2 months of living without governmental help. But CASH is only for small stuff at the beginning and 500-1,000 is more than enough.

[@machinesnmetal]

How'd you do these past 2 hurricanes?

[@poorwotan]

@@machinesnmetal All good!

[@tcaporale3192]

If power is out the gas pumps don't work.

[@timbradeen8459]

I'm here to tell you $1000 buck cash goes away very quickly. I say have as much on hand as you can comfortably muster for your personal situation.

[@ASwagPecan]

Money briefing uploads are usually fun & bite sized

[@timmaloney6441]

I'm not concerned with a power outage but a Panic 'Run on the Banks' frenzy .

[@mikeg3810]

Hopefully we learned something from the 9/11 when their was a run on the banks. You’ll remembered what happened… “Sorry, our ATMs are not working right now.”

[@cashflow68]

I usually keep $2500 in cash. This covers emergency repairs in case a contractor that cannot accept cc.

[@situated4]

Plus your weed delivery guy, no?

[@elizabethpoley6882]

I live in LA. It was my Hispanic neighbors who taught me to always hide a little money every month under the carpet. Unfortunately, I could never get the carpet up, so I chose something else. The government doesn't always need to know how much you've got.

[@ThePabloG30]

Burglars are loving his podcast.

[@Sky1]

Enough for a one-way airline ticket out of the country

[@Sky1]

and if you pay cash you are instantly flagged by TSA

[@rholmst]

An old saying, but still true today - Always have enough gold on hand to bribe the border guards.

[@michaeldew7904]

He said one week (or two) of expenses. Most of my expenses are not payable in cash (automatic mortgage payment for example), so I assume you mean a week or two of locally purchased expenses (like groceries).

[@bcase5328]

How much does a night at a motel cost? How many nights may your family need to stay outside of your home? That plus food and gas would be the main items which you would need to pay while out of your home.

[@RoseNasser-f1b]

I keep $20 bills hidden all around the house. Lots of them. They come in handy!

[@callmeNeno]

I keep 2k in my apartment inside one of my shoes I never wear.

[@Bunnyacj]

What’s your address 👀

[@kay123nay]

@@Bunnyacj😂😂😂

[@militaryhomes6292]

Its hard to have some money at home knowing that the high yield interest rates are so good right now. However the piece of mind knowing you have some money in case of an emergency is nice... If you can definitely keep it in a fire box if you can... Its not very useful if its burns away if you loose your home!

[@davidmack4495]

2k should be fine.

[@cynthiabanks-holman6952]

Cash Is King✨👌🏽

[@charleslord2433]

Hurricane Helene in NC was a wakeup cal! for people as both power and communication infrastructure was destroyed. Everything was either cash, barter, or charity - in some areas for weeks.

[@scottb5733]

Local Home Depot announced cash only one day when their computers were down. They might as well have kept the store closed .. not because customers didn’t have cash, but because the store was not able to service customers on a cash only basis.

[@iceviking8280]

At least 1 month worth of your living expenses.

[@jarvisskooge8602]

Don’t keep it in $100’s

[@AchievewithA]

I’ve been trying to figure this out myself. I live in Florida. I do keep a little envelope with a couple hundred for “evac”… and another for general cash on hand… but 30 min ago I went to my third atm to try to get cash and all atms by me were down! And right now there’s no storm.. they must be having tech issues. I’m have an extra cash stuffing challenge binder $5050 goal when filled. I’ll allocate that binder to “long term” emergency cash on hand… It is also important to have multiple banks.. never put your eggs in one basket

[@williampalchak7574]

After Katrina, we asked family to send us cash. Of coarse, we payed them back , with interest. We now have plans to prevent this need, as well as extra ammo.

[@todddunn945]

You can always write checks. Of course I live in a small town and the local businesses have no trouble with checks from locals. That said, I often go for a week or more without spending any money. I see no need to have a bunch of cash on hand given my lifestyle and where I live.

[@BrianBetron]

I do talk on hurricane preparedness for one of my local charities groups and the talk is geared towards seniors or people with disabilities and once you start going down the rabbit hole cash, of course is one of the things but the rabbit hole can get very very long and deep.

[@TareqRezaul]

This year i realized that when i was stay in North Carolina.

[@jagjr6772]

During Covid our society almost turned cashless. I am traveling now to hotels that have gone cashless. It almost changed my thinking about “cash is king” and keeping some at the house.

[@cato451]

I keep $500 in small denominations for power outages and the like.

[@mariahsmom9457]

A lot of stores close during power outages and dont take cash. Gas stations and grocery stores alike. Food, water, and a power source to cook some food (or food to eat raw) is probably more helpful in a true, sustained outage.

[@ra1der5]

Without power, what works? Not saying we shouldn’t have cash on hand, but a lot of things… gas pumps, cash registers, bar code scanners… will not work without power. When power goes out in our area, supermarkets lock their doors.

[@intheshell35ify]

Depends on the size of the family and the location. In the US, $1000 a head is a good place to start. Even if you live in an expensive city that is enough for gas or ticket to a hotel a couple hundred miles away where you can regroup.

[@SamC379]

There is a senator from Louisiana that says you need to keep $90,000 In your freezer

[@T3TerTerTer]

As older person, I keep more cash on hand than my kids. Just seen more life...

[@NatalieG427]

Power outages is also one good reason why going totally digital with it is the worst Idea & wouldn’t work for us at all. Cash IS Freedom. 💸

[@clyben3397]

That guys crackling voice is killing me😵‍💫

[@DevylsAdvocut]

I have $6 laying around…

[@rgrobinsonxoxo]

I honestly debated on putting most my cash into my savings for the interest but this changed my mind easily. I live in An apartment so most stuff is included if something were to go wrong, however, many other occurrences could happen mentioned that I didn’t think about like not having access to digital funds, thanks!

[@Oldeagle66]

I have cash stash everywhere. Even an old apple cider jar full of silver coins and dollar bills. I remember the black out a few years ago. I just walked into the stores, slapped down cash and left.

[@ingothitrust5248]

As an urban prepper, I keep gold and silver around too, in addition to my cash, which I keep in separate denominations; it's wise to carry small bills and plenty of them because if you have to barter, any shyster will mark up what they're trying to sell you if you have nothing but 50s or 100s.

[@madameclark3453]

Gold? Silver? Nahhhh

[@tomhenry897]

Loose in resale Cash is better

[@richard1113]

Informative, thank you. I had to laugh when your guest said "a $10 bill... is like a historical artifact". 😀

[@baldeagle242]

I think I'm the only person on this planet who uses cash only. There are numerous places I won't go to because they don't take cash.

[@angusm9419]

I just wasted 6:40 minutes and now I feel dumber

[@americandissident9062]

I’ve got about 3-4 months worth of living expenses saved for an emergency, and about 10% of that is cash in a location that I can reach quickly.

[@southernnaturalhairaffair7912]

This was great, thank you!

[@JohnAranita]

Thanx, Mr. Whalen. Long time no see on KZbin. Hope to see u soon.

[@kerrybyers257]

Ask the folks in Acapulco how much cash they wish they had right now. 🙏

[@straycat1674]

The problem with any emergency cash at home, now that they’re going digital and some banks are starting to not even deal with cash eventually There won’t be cash to deal with. That’s when everything is digital currency and every single transaction is taxed. Borrow money they’re gonna tax it, pay money back they’re gonna tax it. Tip somebody it’s all taxed. The system goes down nobody has access to cash because it doesn’t exist. This is why I think every state should except all forms of legal tender. What I mean by that is precious metals as well as digital currency and paper currency and coins. Golden silver coins, gold backs and silver versions. And people should have a bit of everything stocked up.

[@mysterybuyer3738]

Yes people should have gold and silver for sure.

[@tomhenry897]

Loose when resell Use cash

[@HHH-nv9xb]

"Emergency" How fast is fast. I have only run into situation where I need to money in terms of weeks and not the next day. Pretty much examples that I have presented also reflect that. Regardless, I can access my money in terms of days. Having grasps of the timing requirement under "Emergency" fund will impact the investment of that bucket. I have only a few hundreds of cash at home.

[@youKnowWho3311]

$1k minimum. A tire, chainsaw, or generator will eat that amount. Unless you have every conceivable thing you will need, I would say 1k is a nice starting point. If you are reading this even 6 months from this post specifically in 2024, your number should be inflation adjusted going forward on a 15% per quarter basis (fingers crossed). Expert move. Have the same amount in silver/gold and Bitcoin. Also, always have 3-4 cases of water on hand and plenty of canned goods you can heat over a candle or camp stove/fire.

[@Username_CC_]

Its strangw because now savings accounts are paying iver 5% so every 1k out of the bank is losing 50 bucks a year but i get the sentiment

[@mitchell.9632]

There is a generational difference (though it does not apply in whole to the whole cohort). In an area where the power has not gone out often in just over a decade there was scuffle even though the power was not off long enough that cell phone service was not interrupted on a relatively new unlimited plan.

[@norcaldeemichaels]

In addition to a couple thousand dollars cash, I also have a few hundred dollars worth of silver Peace Dollar coins. At current rates they’re worth about $20 apiece last time I checked. The coins are also a handy way to show appreciation for something where cash would be politely declined or cheapen the relationship between parties. An example is when my neighbor loans me his pressure washer, he won’t take a twenty dollar bill, I could do something like buy him a six-pack, but instead, I return the pressure washer and give a coin at the same time.

[@johnabitabile5035]

Keep your cash in a safe. If a burglar breaks in, yes they will try to open the safe. If you have a safe that’s under 200 lbs , bolt it to the floor. If you live in an apartment, where you can’t bolt it, leave it in a closet, maybe on a shelf (obviously a smaller safe not a 200lb safe). You should still be able to bolt it to the shelf and the wall behind the shelf. Typical burglars want to get in and out as fast as possible

[@Sola_Scriptura_1.618]

If you have a safe, you have a target on your back!

[@motoryzen]

​@Sola_Scriptura_1.618 if you're dumb enough not to be armed ready to truly defend yourself, your property and your family.. You already have a target on your back

[@johnabitabile5035]

@@Sola_Scriptura_1.618 How so?

[@Sola_Scriptura_1.618]

@johnabitabile5035 the idea of a safe conjures up all kinds of ideas in peoples minds! As a student, I read and did a book report on the novel "In Cold Blood" based on a true story. Since then, I have always made safety decisions based on how a criminal would think and act. I just recently added security cameras to my property, not because I couldn't financially afford them in the past, but because a criminal mind would think, "What kind of valuables does this guy have if he needs a surveillance system?". I finally made the investment, because surveillance systems have gone mainstream, and they act as a deterrent more than advertising, protecting items of value. Just my 2 cents!

[@Sola_Scriptura_1.618]

@motoryzen being armed, and knowing how to protect yourself is actual safety! In Canada, firearms are restricted. I have a hunting license not for game, but for any animal on the street that decides to make my castle a target!

[@williambeyer5095]

This is not about the Power being out, if any ATM or Register does not have internet connection transactions will not go through.

[@takecare5077]

There are offline register operations. Also have seen and used backup pads.

[@TeraJohnson-nv2sp]

Wouldn’t checks be accepted in emergencies?

[@kathryncooper4001]

I have a tornado survival station in my basement. When a tornado warning sounds, my son grabs all the electronics and the file box and takes them downstairs. I take the jewelry drawer, a couple of items of sentimental value, and the barley box from the pantry. It's filled with cash and sits between the quinoa and the faro.

[@MoonShadowsFarm]

Not too smart telling people this and using your real name. "It's filled with cash and sits between the quinoa and the faro."

[@kathryncooper4001]

Can you imagine how many people in the English speaking world have my name? Needle in a haystack to figure out which one posted that reply. @@MoonShadowsFarm

[@grif13]

For the gold people where do they stash their gold coins and bars?

[@andyamysarizonaadventures5450]

I think in a jar buried in the back yard would be good incase of a house fire but don't use a metal lid someone can find with there detector 😅

[@edennis8578]

I get plastic jars from my protein powder. Plastic jar, plastic lid.

[@MichaelLawrenceMagic]

Burying cash is ridiculous, they sell fireproof safes that you can hide in your house.

[@tracybeaner889]

At much as you can. Your insurance will not cover, FEMA will not cover etc, etc, will not cover. Have 2-3k in funds!

[@glorgau]

Me, I keep about $300-$400K scattered around the house in loose piles around the house - on the dining room table, in front of the living room window, etc.

[@glorgau]

Maybe a bit more, just in case.

[@robertwalker5521]

If it is a "robbery" ..the speaker's word: The robber can compel the resident to divulge the location(s) of the cash. (Robbery requires threats or injury...or both.. such as: bank robbery or being "Mugged")