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September 13, 2023 at 7:54 pm #89481USER
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?September 13, 2023 at 7:55 pm #89482Telesia
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?September 13, 2023 at 7:55 pm #89483Amanda
I think $1000 in a safe isn’t a bad idea.September 13, 2023 at 7:57 pm #89484Allison
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.September 13, 2023 at 7:57 pm #89485Paulinka
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.September 13, 2023 at 7:57 pm #89486Bridget
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.September 13, 2023 at 7:58 pm #89487Tabitha
I keep a few thousand in a safe but I’m also a prepper.September 13, 2023 at 7:58 pm #89488Betty
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.September 13, 2023 at 7:59 pm #89489Christine
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 midstSeptember 13, 2023 at 7:59 pm #89490Mark
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.