Keeping Cash On Hand For Emergencies

It just occurred to me, as I was hanging up the phone after getting a call from my bank letting me know that both my credit and debit cards had been compromised, that having cash around for an emergency situation is an absolute must.  Now, in my current situation (which is likely a result of my auto break-in from last month) I’m literally just about to leave the house to go out with a bunch of friends for the day.  Being able to dip into the cash in my safe keeps me from being inconvenienced or potentially ruining my day.  In a real emergency such as an earthquake or anything that could cause a prolonged power outage where debit and credit cards would completely useless, having cash on hand could be game changing.

I’ve always recommended keeping cash in small denominations in both a home safe as well as a bug-out-bag.  Most people just don’t carry much cash anymore, everything is electronic.  So if the SHTF and you’re one of the few who can make purchases with cash you may have access to gas, food, water, and other supplies that others don’t.  As always, Cash Is King.

However those who are truly Prepared should not have to worry about running out at the last minute to pick up supplies.  You should already have everything you need safely tucked away at home (cash in a BOB is still a must though).  Anyone whose plan is to keep a bunch of cash and run out to the local Safeway hours before a storm is bearing down on them to stock up on supplies is on a fool’s errand.  Even with the caveats I mentioned above, store shelves still empty extremely rapidly before, during, and after a disaster and they do not refill quickly enough.

So, while today in my current situation I’m glad I have cash on hand I’m going to re-think the amount I keep and possibly put some of that into real goods like extra food, batteries, and ammo.

Just a quick thought, now I’m off to the hockey game.  Go Sharks!

~ Butch

2 Responses to Keeping Cash On Hand For Emergencies

  1. How much cash do you suggest we keep on hand for emergencies?

  2. I recommend starting with about $100 in small and medium size bills and working up from there. If you have a spare five or ten dollar bill at the end of the week, add it to your stash. When you get to $200-300 I would think that would be enough to last a while or get you through a minor emergency where credit and debit cards aren’t working.