How much of your emergency funds should one be holding in cash?

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  • #89481 Reply

      Hoping this doesn’t start a debate about cash…but how much of your emergency funds should one be holding in cash? Like, I’m talking under the mattress, in the event of an emergency… type situation?

      #89482 Reply

        I only do this before a hurricane: take $1000 out small bills like 1. 5, 10 and a few 20s because nobody can make change so having 50 or 100 is like having no money at all. Those charities people donate too like the Red Cross are a joke and so is fema. I wish people would stop donating to Red Cross.

        Anyway, make sure you have non perishable food and water which is more important than money because money is useless in a real disaster.

        Gas and food Can be traded better than money. Where are you going to spend it when everything destroyed or no power?

        #89483 Reply

          I think $1000 in a safe isn’t a bad idea.

          #89484 Reply

            I’m a wheeler and dealer. And my side biz is flipping things. I keep cash for just that reason – drive by a garage sale, see something on marketplace, so I keep more cash on hand than the average bear because of such.

            I also only tip in cash because … I was once a server too.

            You can check also: Looking for best emergency savings account for good interest rate – Any suggestions?

            #89485 Reply

              In a true emergency food, water, ammo and weapons would be cash. But they do say that you should have a few month’s worth saved up in case you lose your job.

              #89486 Reply

                Omg pls don’t put any money under your mattress for gods sake.

                Put 3-6 months of expenses in an FDIC insured high yield savings or money market account.

                When people say have your EF in cash, they just mean not invested/liquid, not in literal dollar bills.

                #89487 Reply

                  I keep a few thousand in a safe but I’m also a prepper.

                  #89488 Reply

                    I thought $1,000 was enough but then I was in Guam and a Typhoon hit… no power means no ATMs and the island went cash only… I’m upping it to $5K.

                    #89489 Reply

                      I feel you. Before I was debt free, I had < $1K. Every penny goes towards the mortgage. Now, $10K but it’s not under the mattress.

                      It’s inside the refrigerator for emergency like last month when the water pipes burst under the house. Most plumbers quickly quoted $2-3K. I offered CASH.

                      A plumber accepted $500 plus $100 tip.

                      Would you also like to explore: We are just beginning to fund our emergency fund, but a gremlin is in our midst

                      #89490 Reply

                        Keep about $50 to $100 cash in various bills in my wallet at all times. Mostly for tips and giving. Can’t think of a situation where I would need to keep more than that on hand.

                        I don’t waste time being a “doomsday” prepper.

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