How much (green) cash at home for emergency ?

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burt
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How much (green) cash at home for emergency ?

Post by burt » Sun Jun 17, 2018 2:29 pm

Portions of my state are now flooding with evacuations in progress.
To the best of my knowledge this area has never flooded before in recorded history.
I've been through floods and hurricanes. I have not been through wild fires, earthquakes, volcanoes, large electrical grid outages, etc.

My question is: how much cash should I have to evacuate and reside in a safe area for 2 months or longer?
Is $10,000 green cash hidden on the premises reasonable ?

Interested in your thoughts.

burt

Cruise
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Re: How much (green) cash at home for emergency ?

Post by Cruise » Sun Jun 17, 2018 2:40 pm

I keep about $200 in the house.

Do you not have access to credit cards or banks? Unless you are facing a Zombie Apocalypse or an EMP-caused disaster, I can't imagine why you would need access to so much cash.

jebmke
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Re: How much (green) cash at home for emergency ?

Post by jebmke » Sun Jun 17, 2018 2:43 pm

If the area is safe, the ATMs should work.
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livesoft
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Re: How much (green) cash at home for emergency ?

Post by livesoft » Sun Jun 17, 2018 2:45 pm

Zero dollars because otherwise you would be like during Katrina with you out of your home and your cash underwater or in a burning house which in either case is useless since you wouldn't be able to get to your cash.

Consider what happened with the recent volcano in Guatemala or the economic collapse in Venezuela. Those folks need assets staged outside of the disaster areas in advance. In the US, such staging is called a Bank Account or Credit Card.
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123
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Re: How much (green) cash at home for emergency ?

Post by 123 » Sun Jun 17, 2018 2:48 pm

burt wrote:
Sun Jun 17, 2018 2:29 pm
...My question is: how much cash should I have to evacuate and reside in a safe area for 2 months or longer?
Is $10,000 green cash hidden on the premises reasonable ?...
It largely depends on what you wouldn't mind losing if disaster (fire/flood/theft/etc) hits your home before you get to the cash and how much you are willing to forgo in lost opportunity costs for the cash.

We normally have around $500 cash around just for general day-to-day purposes (i.e. cash purchases including restaurants where they don't accept credit cards). I probably wouldn't have more than $2,500 in the house if I was concerned about a disaster (I might lose track of where I hid it as well).
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KlingKlang
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Re: How much (green) cash at home for emergency ?

Post by KlingKlang » Sun Jun 17, 2018 2:54 pm

A few thousand might be handy to pay (bribe) someone with boat to get you out of the second floor of your house and then get someone with a Jeep to get you through the foot deep water to somewhere dry with the power on. After that all you need is your normal amount of pocket cash, ATM card, and credit cards.

livesoft
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Re: How much (green) cash at home for emergency ?

Post by livesoft » Sun Jun 17, 2018 2:56 pm

During the flooding from Harvey, I think the amount of bribes paid to get people rescued were actually very very low.
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Smorgasbord
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Re: How much (green) cash at home for emergency ?

Post by Smorgasbord » Sun Jun 17, 2018 3:23 pm

burt wrote:
Sun Jun 17, 2018 2:29 pm
My question is: how much cash should I have to evacuate and reside in a safe area for 2 months or longer?
Is $10,000 green cash hidden on the premises reasonable ?
Unless you are running from the law and need to stay hidden, why would ATMs and banks not be available at the safe area?

Nate79
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Re: How much (green) cash at home for emergency ?

Post by Nate79 » Sun Jun 17, 2018 3:55 pm

Smorgasbord wrote:
Sun Jun 17, 2018 3:23 pm
burt wrote:
Sun Jun 17, 2018 2:29 pm
My question is: how much cash should I have to evacuate and reside in a safe area for 2 months or longer?
Is $10,000 green cash hidden on the premises reasonable ?
Unless you are running from the law and need to stay hidden, why would ATMs and banks not be available at the safe area?
Power outage, natural disaster, etc.

jebmke
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Re: How much (green) cash at home for emergency ?

Post by jebmke » Sun Jun 17, 2018 4:04 pm

If I have to flee, my plan is to go somewhere where there isn't a natural disaster.
When you discover that you are riding a dead horse, the best strategy is to dismount.

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Re: How much (green) cash at home for emergency ?

Post by The Wizard » Sun Jun 17, 2018 4:10 pm

Nate79 wrote:
Sun Jun 17, 2018 3:55 pm
Smorgasbord wrote:
Sun Jun 17, 2018 3:23 pm
burt wrote:
Sun Jun 17, 2018 2:29 pm
My question is: how much cash should I have to evacuate and reside in a safe area for 2 months or longer?
Is $10,000 green cash hidden on the premises reasonable ?
Unless you are running from the law and need to stay hidden, why would ATMs and banks not be available at the safe area?
Power outage, natural disaster, etc.
Along with zombies...
Attempted new signature...

bac
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Re: How much (green) cash at home for emergency ?

Post by bac » Sun Jun 17, 2018 4:22 pm

On checking my fireproof box, I have $900, and I likely have another $200 between my desk and my wallet. Probably double or triple what I really need to have on hand.

Oh, I also have $200 Canadian and 160 pounds sterling. I get to Canada once a year or so, but haven't been to the UK since 2001. I must do something about that!

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Re: How much (green) cash at home for emergency ?

Post by denovo » Sun Jun 17, 2018 4:27 pm

KlingKlang wrote:
Sun Jun 17, 2018 2:54 pm
A few thousand might be handy to pay (bribe) someone with boat to get you out of the second floor of your house and then get someone with a Jeep to get you through the foot deep water to somewhere dry with the power on. After that all you need is your normal amount of pocket cash, ATM card, and credit cards.

Um, I don't think this is necessary.
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femur
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Re: How much (green) cash at home for emergency ?

Post by femur » Sun Jun 17, 2018 4:28 pm

I keep around $1200 in mixed bills, myself.

The Wizard
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Re: How much (green) cash at home for emergency ?

Post by The Wizard » Sun Jun 17, 2018 4:43 pm

In Florida, it's best to have 8 or 10 red (or yellow) five-gallon containers of fuel for your car at home.
When times get tough, merely having lots of cash won't help in this department...
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smitcat
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Re: How much (green) cash at home for emergency ?

Post by smitcat » Sun Jun 17, 2018 4:48 pm

You do not say where you are or give to much detail but we keep between $3,000 and $4,000 handy for emergencies like you describe.

SrGrumpy
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Re: How much (green) cash at home for emergency ?

Post by SrGrumpy » Sun Jun 17, 2018 5:19 pm

I try to keep about $60 in my "Go Bag" but I keep stealing from it.

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Re: How much (green) cash at home for emergency ?

Post by bhsince87 » Sun Jun 17, 2018 5:29 pm

I usually keep $6-8k on hand in one of these fire boxes. Easy enough to grab and go if need be.

But I also buy some big ticket items off craigslist, etc, so I do have some turnover.

I may be revisiting this, though, as inflation and deposit rates rise. For the past decade pr so, it was cheap insurance. Now, the cost of cash on hand is going up.

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Re: How much (green) cash at home for emergency ?

Post by UpperNwGuy » Sun Jun 17, 2018 5:35 pm

I keep from $100 to $400 in cash. When the amount drops below $100, I replenish it with $300 from the ATM, and that's about once every six weeks. I can't think why I would need more cash, even in an emergency. I rarely use cash.

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Smorgasbord
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Re: How much (green) cash at home for emergency ?

Post by Smorgasbord » Sun Jun 17, 2018 5:44 pm

Nate79 wrote:
Sun Jun 17, 2018 3:55 pm
Smorgasbord wrote:
Sun Jun 17, 2018 3:23 pm
Unless you are running from the law and need to stay hidden, why would ATMs and banks not be available at the safe area?
Power outage, natural disaster, etc.
Okay, if fleeing a natural disaster why would you stop at an area that's been so badly damaged that there wouldn't be banks or ATMs available for two months? If the ATMs/Banks aren't working in an area, it's not a "safe area" in my opinion, and like jebmke, I'm going to keep on heading down the road.

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Re: How much (green) cash at home for emergency ?

Post by livesoft » Sun Jun 17, 2018 5:52 pm

And I wouldn't be using a very local credit union either that got closed because of lack of employees and lack of functional buildings. I wouldn't care what kind of network the credit union belonged to.
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Doctor Rhythm
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Re: How much (green) cash at home for emergency ?

Post by Doctor Rhythm » Sun Jun 17, 2018 5:57 pm

$100 duct taped under the driver's seat - mainly in case I'm out and forgot to bring my wallet. There might be a C-note or two stashed somewhere in the house that I've forgotten about. And by the way, zombies don't accept cash - only ACH transfers.

Gill
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Re: How much (green) cash at home for emergency ?

Post by Gill » Sun Jun 17, 2018 5:59 pm

The Wizard wrote:
Sun Jun 17, 2018 4:43 pm
In Florida, it's best to have 8 or 10 red (or yellow) five-gallon containers of fuel for your car at home.
When times get tough, merely having lots of cash won't help in this department...
Never heard that before, and I’ve lived in Florida much of my life. Sounds like a potential disaster to me. We just try to keep the cars full during hurricane season.
Gill

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Re: How much (green) cash at home for emergency ?

Post by TeamArgo » Sun Jun 17, 2018 6:01 pm

When interest rates fell about 10 years ago, I moved about $1000 into my home. :moneybag In the intervening years I have added to it and I now have just over $2000 there. It is just for my peace of mind in the event of a big bad event of some type, and cost me very little in lost interest.
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Re: How much (green) cash at home for emergency ?

Post by Jags4186 » Sun Jun 17, 2018 6:12 pm

KlingKlang wrote:
Sun Jun 17, 2018 2:54 pm
A few thousand might be handy to pay (bribe) someone with boat to get you out of the second floor of your house and then get someone with a Jeep to get you through the foot deep water to somewhere dry with the power on. After that all you need is your normal amount of pocket cash, ATM card, and credit cards.
Would you get into a boat of someone who you'd potentially have to bribe to help someone in a desperate situation? You probably would get robbed. In this case, less is more.

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Re: How much (green) cash at home for emergency ?

Post by Nate79 » Sun Jun 17, 2018 6:17 pm

Smorgasbord wrote:
Sun Jun 17, 2018 5:44 pm
Nate79 wrote:
Sun Jun 17, 2018 3:55 pm
Smorgasbord wrote:
Sun Jun 17, 2018 3:23 pm
Unless you are running from the law and need to stay hidden, why would ATMs and banks not be available at the safe area?
Power outage, natural disaster, etc.
Okay, if fleeing a natural disaster why would you stop at an area that's been so badly damaged that there wouldn't be banks or ATMs available for two months? If the ATMs/Banks aren't working in an area, it's not a "safe area" in my opinion, and like jebmke, I'm going to keep on heading down the road.
I want some cash in my home safe for a variety of reasons. Like enough cash to help get us out of the area, some cash in case we can't get out of the area, etc. Its just part of an overall emergency plan. I don't rely on having an ATM being available in the worst situation (not credit cards working) but neither do I keep months of cash on hand (more like $500).

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Re: How much (green) cash at home for emergency ?

Post by KlingKlang » Sun Jun 17, 2018 6:26 pm

Jags4186 wrote:
Sun Jun 17, 2018 6:12 pm
KlingKlang wrote:
Sun Jun 17, 2018 2:54 pm
A few thousand might be handy to pay (bribe) someone with boat to get you out of the second floor of your house and then get someone with a Jeep to get you through the foot deep water to somewhere dry with the power on. After that all you need is your normal amount of pocket cash, ATM card, and credit cards.
Would you get into a boat of someone who you'd potentially have to bribe to help someone in a desperate situation? You probably would get robbed. In this case, less is more.
Fine... replace "bribe" with "pay for priority service". It's called capitalism. You will have to do the same thing to get a room at a sold out hotel. Never going anywhere in an emergency situation without a firearm lessens the chance of robbery.

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Re: How much (green) cash at home for emergency ?

Post by AlwaysWannaLearn » Sun Jun 17, 2018 6:32 pm

.....
Last edited by AlwaysWannaLearn on Wed Jul 18, 2018 11:34 pm, edited 1 time in total.

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GerryL
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Re: How much (green) cash at home for emergency ?

Post by GerryL » Sun Jun 17, 2018 6:37 pm

My mom was succumbing to Alzheimer's when we moved her into assisted living. As I cleared out her little apartment, I kept uncovering stashes of cash. Not an enormous amount, maybe about $1k total, but given her limited income that was a lot. Most of it was in the little coat closet by the front door, but I also found stacks of bills in other hiding places.
She had repeatedly warned me about the need to have cash in case of an emergency. I figure she kept pulling money out of the bank when she remembered what she had heard about emergencies. Probably didn't remember she had already done it or where she had put it. I often wondered whether she had thrown out cash when she put clothing out for "recycling."
If you're going to stash cash, better make sure others you trust know where you hid it.

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Re: How much (green) cash at home for emergency ?

Post by Dottie57 » Sun Jun 17, 2018 6:45 pm

UpperNwGuy wrote:
Sun Jun 17, 2018 5:35 pm
I keep from $100 to $400 in cash. When the amount drops below $100, I replenish it with $300 from the ATM, and that's about once every six weeks. I can't think why I would need more cash, even in an emergency. I rarely use cash.
This s pretty much what I do.

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Re: How much (green) cash at home for emergency ?

Post by Turbo29 » Sun Jun 17, 2018 6:45 pm

Smorgasbord wrote:
Sun Jun 17, 2018 3:23 pm

Unless you are running from the law and need to stay hidden, why would ATMs and banks not be available at the safe area?
In certain areas only one communications link supports these services.

Although I live in Phoenix and was not affected people in other areas of AZ were. I used to only keep $40 on myself. After this I upped it to $200-$400.

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Re: How much (green) cash at home for emergency ?

Post by metrunt » Sun Jun 17, 2018 6:48 pm

I aim for $5K to $10K. I have found it very handy. One time I transferred a lump sum into a 529 account and realized I initiated it not from my brokerage account but from my checking and was going to overdraw. I was able to put the cash in immediately and prevent an overdraft. Also, needing cash to make a purchase on short notice rather than waiting at a bank to withdraw is nice and having cash on hand when leaving to travel is great. It's like have a first aid kit or a couple gallons of water in the car. Most ATMs have a $400 limit or so. That's not handy.

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Re: How much (green) cash at home for emergency ?

Post by tmcc » Sun Jun 17, 2018 6:49 pm

Let's see..... I have.... $44. $20, $10, two $5 and four $1. 8-)

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Re: How much (green) cash at home for emergency ?

Post by akblizzard » Sun Jun 17, 2018 6:52 pm

burt wrote:
Sun Jun 17, 2018 2:29 pm

I've been through floods and hurricanes. I have not been through wild fires, earthquakes, volcanoes, large electrical grid outages, etc.
I find it interesting that although I’ve never been through a flood or hurricane, in the last 30 yrs I have been through wildfires, earthquakes, volcanoes, and multi-day outages.

I keep a couple hundred around usually, but I sometimes think about the same thing you are.

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Re: How much (green) cash at home for emergency ?

Post by AlwaysWannaLearn » Sun Jun 17, 2018 6:54 pm

.....
Last edited by AlwaysWannaLearn on Thu Jul 19, 2018 6:23 pm, edited 2 times in total.

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dm200
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Re: How much (green) cash at home for emergency ?

Post by dm200 » Sun Jun 17, 2018 6:57 pm

We keep in the range of $200 - $500 in various denominations - either in our wallets or at home.

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Re: How much (green) cash at home for emergency ?

Post by mpsz » Sun Jun 17, 2018 6:58 pm

$10,000 is far too much in my opinion. Whatever you choose, be prepared to lose it -- whether it's lost because you forget where you put it, you get robbed, your house burns down, or to inflation. Also, small, mixed bills! Not everybody will take a $100 or they may not be able to make change.

I keep a variable amount... never more than $1,000. I've used the cash after freak thunderstorms that knock over a bunch of trees, and after blizzards if there are widespread power outages. Maybe twice in the last 10 years, but I've been glad I had it.

My area is also one of those "one communication link" places. If Comcast is down, I have no internet at home and no businesses can accept credit cards.

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Re: How much (green) cash at home for emergency ?

Post by bac » Sun Jun 17, 2018 9:10 pm

GerryL wrote:
Sun Jun 17, 2018 6:37 pm
If you're going to stash cash, better make sure others you trust know where you hid it.
I was my sister's executor, and her best friend suggested that she kept cash hidden in her house. I would have expected it as well.

So, aside from the cash in her purse and a bit of Canadian currency, I found absolutely nothing. I looked in every crook and nanny in her house and car, and checked every piece of clothing and every shoe (and she had 60-some pairs of footwear). If she had money hidden, it was hidden very well.

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Re: How much (green) cash at home for emergency ?

Post by unclescrooge » Sun Jun 17, 2018 10:23 pm

mpsz wrote:
Sun Jun 17, 2018 6:58 pm
$10,000 is far too much in my opinion. Whatever you choose, be prepared to lose it -- whether it's lost because you forget where you put it, you get robbed, your house burns down, or to inflation. Also, small, mixed bills! Not everybody will take a $100 or they may not be able to make change.

I keep a variable amount... never more than $1,000. I've used the cash after freak thunderstorms that knock over a bunch of trees, and after blizzards if there are widespread power outages. Maybe twice in the last 10 years, but I've been glad I had it.

My area is also one of those "one communication link" places. If Comcast is down, I have no internet at home and no businesses can accept credit cards.
You can also lost it to civil asset forefiture, which is basically where the police rob you.

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Re: How much (green) cash at home for emergency ?

Post by H-Town » Sun Jun 17, 2018 10:28 pm

burt wrote:
Sun Jun 17, 2018 2:29 pm
Portions of my state are now flooding with evacuations in progress.
To the best of my knowledge this area has never flooded before in recorded history.
I've been through floods and hurricanes. I have not been through wild fires, earthquakes, volcanoes, large electrical grid outages, etc.

My question is: how much cash should I have to evacuate and reside in a safe area for 2 months or longer?
Is $10,000 green cash hidden on the premises reasonable ?

Interested in your thoughts.

burt
I have $50 dollar bill in my wallet since a long time... Haven't spent it yet.

I have one thing more valuable than cash: a plan in case of disaster.

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burt
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Re: How much (green) cash at home for emergency ?

Post by burt » Mon Jun 18, 2018 5:49 am

OP here.
Thanks for the replies.
$10,000 is probably overkill, but $3-5,000 seems reasonable. I would rather have it and not need it v.s. needing it and not having it.
As others have mentioned, having a plan and supplies is probably more important. Can't eat or drink cash. Car won't run on cash.
I would gladly pay a guy in a 4x4 diesel truck with an auxiliary tank, $2000 to get me far, far away.

burt

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Re: How much (green) cash at home for emergency ?

Post by Phineas Gage » Mon Jun 18, 2018 6:10 am

I think keeping some cash around is reasonable. We keep 2-3k in a firebox safe for natural disasters/Vegas money. My wife’s logic is if a hurricane hits and we are short on certain supplies sometimes folks magically appear offering services such as boarding up windows (when hardware stores sold out of plywood) or with chainsaws to help cleanup afterwards but they accept cash. Power may be out for miles in each direction and not particularly safe to be out and about if it can be avoided. Probably more for peace of mind for my wife but don’t think it’s a terrible idea to keep a little cash around.

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Re: How much (green) cash at home for emergency ?

Post by oldcomputerguy » Mon Jun 18, 2018 6:21 am

We have $1,000 in $20 bills sitting in our home safe, in case something goes badly wrong with the credit card network that impacts grocery stores. (It helps DW sleep at night. :wink: )
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Re: How much (green) cash at home for emergency ?

Post by nisiprius » Mon Jun 18, 2018 6:34 am

Even using screen names, I don't think it is wise to discuss how much money you keep in your house.
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Re: How much (green) cash at home for emergency ?

Post by dm200 » Mon Jun 18, 2018 10:01 am

I have $50 dollar bill in my wallet since a long time... Haven't spent it yet.
I know a guy who keeps a condom in his wallet - just in case. Told me it has been in there for many years.

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Re: How much (green) cash at home for emergency ?

Post by pspice78 » Mon Jun 18, 2018 10:28 am

I think $10,000 is too much. I have a Rubbermaid bin in the basement that has emergency supplies in case we have to leave in a hurry and it has $40 in it. That plus whatever in my purse seems like enough to get to an area with working amenities.

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Re: How much (green) cash at home for emergency ?

Post by smitcat » Mon Jun 18, 2018 10:56 am

Here in the Northeast...
Although the only storm that most folks would recognize is "Sandy" we have had a dozen or so weather related situations over 15 years where cash has been very handy. In most all of these there have been fairly widespread power outages of between 1 and 15 days where banks/ATM's comm lines are down and at the same time there is wind/water/and/or snow of significant levels. In all of these situations cash has been instrumental in our ability to deal with the then current issue.
When we leave this area my thoughts may change but for now this approach has suited us very well.

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Re: How much (green) cash at home for emergency ?

Post by allones » Mon Jun 18, 2018 11:09 am

I keep about $500 in mixed bills in a fire-safe lock box. ATMs in urban areas regularly run out of cash on a busy Friday night. Assuming ATMs would even be online during a disaster, I'm not confident they'd get replenished in a timely manner. But I am sure that folks who have looted stores would want to sell food and bottled water at a premium if we went through our emergency stash or had to leave the home.

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Re: How much (green) cash at home for emergency ?

Post by bhsince87 » Mon Jun 18, 2018 11:29 am

nisiprius wrote:
Mon Jun 18, 2018 6:34 am
Even using screen names, I don't think it is wise to discuss how much money you keep in your house.
It seems to me to be about the same as saying , "I have XX hundred thousand, or million dollars in these three funds at Vanguard, or Fidelity, etc." Or "I keep XXX$ in an online savings account at ABC Bank."

If a criminal is going to put in the effort to track some one down on line, I would expect they would be more attracted to the big money, and target a scam accordingly.
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Re: How much (green) cash at home for emergency ?

Post by CnC » Mon Jun 18, 2018 1:09 pm

bhsince87 wrote:
Mon Jun 18, 2018 11:29 am
nisiprius wrote:
Mon Jun 18, 2018 6:34 am
Even using screen names, I don't think it is wise to discuss how much money you keep in your house.
It seems to me to be about the same as saying , "I have XX hundred thousand, or million dollars in these three funds at Vanguard, or Fidelity, etc." Or "I keep XXX$ in an online savings account at ABC Bank."

If a criminal is going to put in the effort to track some one down on line, I would expect they would be more attracted to the big money, and target a scam accordingly.

Agreed. If I were a criminal I would be much more App to Target someone talking about their eight-figure Vanguard portfolio and someone talking about having $10,000 stashed in a gun safe in their house

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