Cash - do you keep a stash on hand?

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Cash - do you keep a stash on hand?

Postby tbradnc » Wed Dec 28, 2011 11:53 am

I was wondering if others keep cash on hand in cash of an emergency or something too good to pass up comes along. If so, what do you consider a good amount?

I try to keep $1000 in $20s and $100s stashed away. The biggest problem I have is keeping my spouse from raiding it but for the most part it's there... :)

As far as walking around money I seldom carry more than $50-$100 in my wallet because I charge pretty much everything.
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Re: Cash - do you keep a stash on hand?

Postby cheese_breath » Wed Dec 28, 2011 12:04 pm

I usually keep $200 - $300 on hand to refresh my wallet when needed without having to go out of my way to find an ATM machine. But that's all.
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Re: Cash - do you keep a stash on hand?

Postby 0cean23 » Wed Dec 28, 2011 12:06 pm

I keep about $1500-2000 cash in hand just incase I need a small amount of cash fast.
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Re: Cash - do you keep a stash on hand?

Postby jeff1949 » Wed Dec 28, 2011 12:08 pm

I usually keep less than $100 in my wallet.
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Re: Cash - do you keep a stash on hand?

Postby livesoft » Wed Dec 28, 2011 12:11 pm

I just spent 2 weeks overseas. I did not need to use any cash at all. All taxis, trains, convenience stores, hotels, restaurants, vending machines took my CapitalOne credit card happily.
It's all about short-term opportunistic rebalancing due to a short-term change in one's asset allocation, uh, I mean opportunistic rebalancing, uh I mean rebalancing, uh I mean market timing.
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Re: Cash - do you keep a stash on hand?

Postby scrabbler1 » Wed Dec 28, 2011 12:15 pm

I take out $160 from a local ATM twice a month but I carry around with me $30-$40 unless I know I am going to need more. I don't use the plastic very much, maybe a few times a year and only for some purchases over $50.
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Re: Cash - do you keep a stash on hand?

Postby machonm » Wed Dec 28, 2011 12:20 pm

I never have more than $40 cash on me or in my home at any one time.
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Re: Cash - do you keep a stash on hand?

Postby The Wizard » Wed Dec 28, 2011 12:30 pm

My credit card does just fine for most emergencies, etc.
I keep just $100 or less on my person most of the time, but I keep at least $1000 of uncommitted funds in my ATM-accessible checking account at all times. No minimum balance rqmt there, just a personal rule...
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Re: Cash - do you keep a stash on hand?

Postby investor » Wed Dec 28, 2011 12:33 pm

always carry $100+ on person and keep perhaps $1K, in small bills, in the home for emergencies such as an earthquake. During such times ATM's & credit cards probably will not work.

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Re: Cash - do you keep a stash on hand?

Postby nisiprius » Wed Dec 28, 2011 12:52 pm

Not to be overly paranoid, but I don't think it's a good idea to discuss valuables and where you keep them. Not because I think there's much risk discussing it here, but because you want to form and preserve the habit of not discussing them.

Just like other things. If you just have a flat rule that you don't give out your passwords, then you don't need to make decisions about whether to give this password to this person at this time. If you just have a flat rule that you always fasten your seatbelt, then you don't need to make decisions about whether it's needed on this trip.
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Re: Cash - do you keep a stash on hand?

Postby The Wizard » Wed Dec 28, 2011 1:00 pm

investor wrote:.....for emergencies such as an earthquake. During such times ATM's & credit cards probably will not work.

investor

Folks will have to tweak their approach to this based on local conditions then.
Where I am, we "never" have earthquakes or hurricanes of any significance.
We have a winter storm once in a while where we lose power for a day or so.
If I needed cash desperately then, I could drive my super monster truck (SMT) to a neighboring town where the ATMs had power.
But typically, I just relax and toss another log in the wood stove...
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Re: Cash - do you keep a stash on hand?

Postby tbradnc » Wed Dec 28, 2011 1:07 pm

I guess where I live is kind of an anomaly... I live in rural Appalachia and it's not uncommon to have the opportunity to buy something from someone - gun, chickens, whatever - for cash.
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Re: Cash - do you keep a stash on hand?

Postby Sam I Am » Wed Dec 28, 2011 1:12 pm

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Re: Cash - do you keep a stash on hand?

Postby travellight » Wed Dec 28, 2011 1:21 pm

I almost never use cash but try to keep $100+ on me just in case.

I intend to keep about $300 in my safe as backup/emergency but it does get depleted from time to time.

I keep $20 in every vehicle just in case I drive off and leave my wallet at home. I also keep an extra few checks, old ID, and a credit card in my vehicles for that rare occurrence. It happens maybe once a year and I'm always appreciate of my planning and efforts when it occurs.
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Re: Cash - do you keep a stash on hand?

Postby Grt2bOutdoors » Wed Dec 28, 2011 1:30 pm

I keep a box of quarters buried in my yard in an all-weather, animal proof box. If the thing hits the fan, I can't imagine asking or receiving change for a $20 bill.
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Re: Cash - do you keep a stash on hand?

Postby gkaplan » Wed Dec 28, 2011 1:38 pm

I try to pay most things with cash, so I do keep at least $500 on hand somewhere.
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Re: Cash - do you keep a stash on hand?

Postby SpringMan » Wed Dec 28, 2011 2:01 pm

We keep no cash except what is in my wallet and wife's purse usually less than $100 each. We use a credit card for almost all purchases. It pays us 1% or more back and we always pay it off every month. It provides us good tracking information, for example for medical expenses. We replenish cash at the ATM but it is not out of our way.
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Re: Cash - do you keep a stash on hand?

Postby Exige » Wed Dec 28, 2011 2:08 pm

I hate cash it does not give me rewards money and if its stolen I am SOL where as when my CC was stolen it was refunded closed and got a new one a few days later!
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Re: Cash - do you keep a stash on hand?

Postby FabLab » Wed Dec 28, 2011 2:49 pm

Never feel the need to keep more than about $10-$20 on hand, if that. Why would I? Our bank's ATMs are very conveniently located and rewards credit cards are preferred by us anyway.
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Re: Cash - do you keep a stash on hand?

Postby tyrion » Wed Dec 28, 2011 2:54 pm

Yes, just a little ($20-100). But more importantly, I have a readily accessible cache of food, water, and camping equipment (including stove and fuel) that can be thrown in my car with 3 minutes notice. And 5 gallons of gas. We live in Southern CA, so the most likely emergencies (earthquake, wildfires, nuclear issue) will be either get out as fast as possible or hunker down for a few days.
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Re: Cash - do you keep a stash on hand?

Postby Hawkeye5 » Wed Dec 28, 2011 4:47 pm

Yes. What I would consider just grab and go money in case of a family emergency, all in fives, tens, and twentys.
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Re: Cash - do you keep a stash on hand?

Postby twacapt » Wed Dec 28, 2011 5:29 pm

A chief of police told me once to carry $80-$100 on you in case some dude puts a knife or gun to your gut. If it's less than that, they might get mad and then you have a real problem. Believe me, a robbery can occur at anytime at any place. You don't have to be in a bad neighborhood.
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Re: Cash - do you keep a stash on hand?

Postby rohitj » Wed Dec 28, 2011 5:35 pm

I have a bag ready with clothes in case of an earthquake. Keep enough cash in there to survive a few nights, assuming credit card terminals aren't working. Generally I try to charge everything because I like points and, more importantly, a record of it will be kept on mint for itemization purposes. I am too lazy to enter cash purchases on mint at this point.
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Re: Cash - do you keep a stash on hand?

Postby chaz » Wed Dec 28, 2011 5:38 pm

tbradnc wrote:I was wondering if others keep cash on hand in cash of an emergency or something too good to pass up comes along. If so, what do you consider a good amount?

I try to keep $1000 in $20s and $100s stashed away. The biggest problem I have is keeping my spouse from raiding it but for the most part it's there... :)

As far as walking around money I seldom carry more than $50-$100 in my wallet because I charge pretty much everything.


Good plan.
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Re: Cash - do you keep a stash on hand?

Postby livesoft » Wed Dec 28, 2011 7:53 pm

twacapt wrote:A chief of police told me once to carry $80-$100 on you in case some dude puts a knife or gun to your gut. If it's less than that, they might get mad and then you have a real problem. Believe me, a robbery can occur at anytime at any place. You don't have to be in a bad neighborhood.

My spouse was mugged and the perps got about 50 cents since she carries no cash. However, they did get plenty of jail time when they were caught.
It's all about short-term opportunistic rebalancing due to a short-term change in one's asset allocation, uh, I mean opportunistic rebalancing, uh I mean rebalancing, uh I mean market timing.
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Re: Cash - do you keep a stash on hand?

Postby Steelersfan » Wed Dec 28, 2011 8:04 pm

Step 1: Get $100 from an ATM less than a block from my home.

Steps 2 through n: Spend that down to $20 - $30.

Usually takes about a week.

Start over again at step 1.
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Re: Cash - do you keep a stash on hand?

Postby Mudpuppy » Wed Dec 28, 2011 8:10 pm

investor wrote:always carry $100+ on person and keep perhaps $1K, in small bills, in the home for emergencies such as an earthquake. During such times ATM's & credit cards probably will not work.

Yeah, but what's the likelihood that any stores will be open after an earthquake of large enough size to disrupt power and/or telecommunications? Better to keep non-perishable food, water, camping supplies, first-aid supplies and the like on hand to prepare for such disasters than cash.
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Re: Cash - do you keep a stash on hand?

Postby tomd37 » Wed Dec 28, 2011 8:13 pm

Not exactly sure what the OP meant when asking how much cash to keep on hand. I guess the answer could vary depending on the circumstances. For example, my wife often encourages me to keep more cash (cold hard cash) on hand in the event something should happen that would not allow us to use our credit card for purchases or that we could not access an ATM for some reason to get needed cash.

I normally keep about $200 to $300 cash on hand hidden in the house, but we both know where it is. Both of us carry very little cash on our person and use credit cards for virtually all purchases paying them off in full each month (and taking advantage of a $700 cash rebate each year).

I am considering increasing the cash on hand to some level that might meet our needs for a defined period of time should something happen to our "electronic world". :dollar
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Re: Cash - do you keep a stash on hand?

Postby filmtheory » Wed Dec 28, 2011 8:17 pm

Several K in 5s 10s and 20s in an undisclosed location. During an extended power failure (we were in one a few years back) credit cards are useless but merchants will take cash of course.
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Re: Cash - do you keep a stash on hand?

Postby travellight » Wed Dec 28, 2011 8:28 pm

wow, I thought I had things covered but gr8's post about quarters makes sense. In a calamity, I can always raid vending machines with change. Will add to my to do list. (I don't think I need to bury it in my yard though.)
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Re: Cash - do you keep a stash on hand?

Postby BigFoot48 » Wed Dec 28, 2011 8:36 pm

We keep some cash in the safe in case the credit card system goes down and we need to buy some flour, dried beans, and rice at the supermarket real fast.
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Re: Cash - do you keep a stash on hand?

Postby Atilla » Wed Dec 28, 2011 10:06 pm

I rarely have much of any cash on me. But we do have a small safe with a grand or two in it. It comes in handy the few times a year you need a couple-few hundred for something and not have to make a bank run to get it.
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Re: Cash - do you keep a stash on hand?

Postby rob » Wed Dec 28, 2011 10:21 pm

RonV wrote:Never feel the need to keep more than about $10-$20 on hand, if that. Why would I? Our bank's ATMs are very conveniently located and rewards credit cards are preferred by us anyway.

This for me......

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Re: Cash - do you keep a stash on hand?

Postby dbc47 » Wed Dec 28, 2011 11:10 pm

We usually keep about $5,000 to $8,000 in our safe because we enjoy running our fingers through the $100 bills. :greedy
Just looking at dollar amounts on a page isn't the same as the real thing. Besides, looking at the $10 bill in my wallet doesn't quite give me the same satisfaction.......
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Re: Cash - do you keep a stash on hand?

Postby Gray » Thu Dec 29, 2011 7:17 am

viewtopic.php?f=2&t=87375

Ally CD can be liquidated effectively instantly to an Ally MMA and transferred anywhere (or used via check).
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Re: Cash - do you keep a stash on hand?

Postby natureexplorer » Thu Dec 29, 2011 8:40 am

I don't see the need to stash cash. In what scenario will checks, ATM cards, and credit cards all not work at the same time?
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Re: Cash - do you keep a stash on hand?

Postby natureexplorer » Thu Dec 29, 2011 8:41 am

filmtheory wrote:Several K in 5s 10s and 20s in an undisclosed location. During an extended power failure (we were in one a few years back) credit cards are useless but merchants will take cash of course.
Checks.
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Re: Cash - do you keep a stash on hand?

Postby Sheepdog » Thu Dec 29, 2011 8:46 am

About $500 to $800 in a teapot....replenish when down to $500.. Ready cash for emergencies, kids selling stuff for their school or sports team, trip to a casino, not having to go to an ATM, etc. (I seldom have over $20 in my wallet except when taking trips.)
The wife loves just getting some cash out at will, so I keep it us for her as well. (She's never used an ATM and won't. :roll:
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Re: Cash - do you keep a stash on hand?

Postby Mr Grumpy » Thu Dec 29, 2011 8:49 am

Wow! Based on some of the above responses, I'm really parsimonious. I just retired and still working out day to day items like this. I've started taking a draw of $100.00 per month, albeit, I use credit cards or an ATM card for most purchases I make. In November, I had a lot of the drawer left, this month due to Christmas, not so much.
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Re: Cash - do you keep a stash on hand?

Postby natureexplorer » Thu Dec 29, 2011 8:54 am

Sheepdog wrote:... trip to a casino
I'm pretty sure most casinos have ATMs.
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Re: Cash - do you keep a stash on hand?

Postby Sheepdog » Thu Dec 29, 2011 8:57 am

natureexplorer wrote:
Sheepdog wrote:... trip to a casino
I'm pretty sure most casinos have ATMs.

I budget $100 at the most to lose....and I am cheap enough not to want to pay an ATM fee there or anywhere. :)
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Re: Cash - do you keep a stash on hand?

Postby natureexplorer » Thu Dec 29, 2011 9:07 am

Sheepdog wrote:
natureexplorer wrote:
Sheepdog wrote:... trip to a casino
I'm pretty sure most casinos have ATMs.
I budget $100 at the most to lose....and I am cheap enough not to want to pay an ATM fee there or anywhere. :)
And, thinking of it, it might actually be a good idea to walk into such a place with cash only and to leave all cards at home. (By the way, I didn't know there are Bogleheads that still don't get their ATM fees reimbursed.)
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Re: Cash - do you keep a stash on hand?

Postby Sam I Am » Thu Dec 29, 2011 11:21 am

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Re: Cash - do you keep a stash on hand?

Postby SimonJester » Thu Dec 29, 2011 12:17 pm

Just keep in mind most home owners insurance policies have a $250 limit on cash this limit also applies to gold & silver coins / bullion...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin
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Re: Cash - do you keep a stash on hand?

Postby aja8888 » Thu Dec 29, 2011 12:27 pm

Sheepdog wrote:The wife loves just getting some cash out at will, so I keep it us for her as well. (She's never used an ATM and won't. :roll:


SDog:

How did you train your wife to not use ATM's? :?:

(You could patent that process if you want to get rich!)
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Re: Cash - do you keep a stash on hand?

Postby gerntz » Thu Dec 29, 2011 3:45 pm

Spouse & I normally have a few hundred around between us. Now my dear departed Dad.....

Kept $K's all over. He was a product of the GD. Several years before he died, he told me it was time to let me know where he kept $20,000 hidden in the condo! To be exact (He was always exact with money.), he said he thought it might be $50 short of $20K. OK, like that mattered in the grand scheme! So I go down the basement in the floor joists behind some insulation and pulled out this wad wrapped in aluminum foil. Counted out $19,950 - exactly. I told him I'd put it in his bank account. He was OK with that after a little hesitancy.
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Re: Cash - do you keep a stash on hand?

Postby Watty » Thu Dec 29, 2011 4:48 pm

I have found that it is true that you spend less when paying with cash than with credit card so I mainly pay cash for anything less than about $100 now.

I have also had an ATM "eat" my card on a Friday at 7:00 PM when all the banks are closed. You can pay for most things by credit card if needed but I still try to replenish my cash before it gets too low.

My wife and I make sure that we carry a credit card that the other does not have on them. That way if a purse or wallet is lost or stolen the credit cards can be cancelled but the other person will still have a working credit card.
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Re: Cash - do you keep a stash on hand?

Postby Jordana » Fri Mar 15, 2013 11:23 am

What about the theory that you need a few thousand dollars in cash on hand in case of a disaster (financial or natural) and the banks and ATMs are closed? I do not do that but I think it is a good thing. I figure I won't need my gold bullion for the first couple months of the crisis 8-)
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Re: Cash - do you keep a stash on hand?

Postby ddunca1944 » Fri Mar 15, 2013 11:58 am

Exige wrote:I hate cash it does not give me rewards money and if its stolen I am SOL where as when my CC was stolen it was refunded closed and got a new one a few days later!


+1

I keep a $20 bill stashed in each vehicle. I rarely have more than $20 in my purse. Dh tends to carry a bit more. Most purchases are on a rewards cc and even if there were a power outtage at the store, they''d use the old swippers that they used before the internet.

I picked up a $50 bill in Target a couple of months ago. (Since it would have been impossible to identify the person who lost it, I kept it). Would not have wanted it to be me that lost it.
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Re: Cash - do you keep a stash on hand?

Postby ddunca1944 » Fri Mar 15, 2013 12:00 pm

Jordana wrote:What about the theory that you need a few thousand dollars in cash on hand in case of a disaster (financial or natural) and the banks and ATMs are closed? I do not do that but I think it is a good thing. I figure I won't need my gold bullion for the first couple months of the crisis 8-)


I'd write a check if my cc were not accepted. I think the kind of scenario where stores would not accept local checks is a bit "out there"...
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