how much cash do you keep at home?

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camillus
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how much cash do you keep at home?

Post by camillus » Sat Mar 28, 2020 2:47 pm

Curious. How much cash do you keep at home? I was listening to a normally entertaining podcast and I was shocked that the host was seriously suggesting burying cash in the backyard to hedge against mass bank failures. (Some of you may remember Washington Mutual from 2009.)

I think most people here will agree that is way overboard. Still, I'm wondering if you are increasing your at home physical cash reserves. Thanks!

Broken Man 1999
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Re: how much cash do you keep at home?

Post by Broken Man 1999 » Sat Mar 28, 2020 2:52 pm

My cash stash is $120, what I had left from cashing my Costco rewards check, and purchasing a yogurt on the way out. OK, I might have a couple of bucks in my change jar, also.

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Re: how much cash do you keep at home?

Post by corp_sharecropper » Sat Mar 28, 2020 2:53 pm

Not enough. I won't make that mistake again. Whether it really ever comes into play, that's unlikely and hasn't happened, but I'd sleep better knowing I had $5k-$10k in my safe. I'm willing to take the inflation and opportunity cost on that amount. One of the lessons I've recently learned is that it's not always wise to obsessively optimize every last penny, a chunk of cash has its own special qualities that matter also.

MindBogler
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Re: how much cash do you keep at home?

Post by MindBogler » Sat Mar 28, 2020 2:55 pm

None.

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Sandtrap
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Re: how much cash do you keep at home?

Post by Sandtrap » Sat Mar 28, 2020 2:59 pm

When cash becomes that important, then things to barter may be as important.
Take TP for example. . . . . . :confused

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JGoneRiding
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Re: how much cash do you keep at home?

Post by JGoneRiding » Sat Mar 28, 2020 3:02 pm

Any where from $200 to $2000 depending. I try for about $800 to $1500. I have seen situations where power was out no atms or Visa machine worked. You needed cash. Definitely times I think I should have a little more

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Re: how much cash do you keep at home?

Post by dru808 » Sat Mar 28, 2020 3:04 pm

I’m estimating $6-7k in change & $1 bills. It’s a sort of last ditch emergency fund, 3 months of mortgage. I never pay with change or $1 bills. I know approximately how much is there as we deposited a load of change in 2016 just to see how much it was. other than that, not much, maybe $2000 if we’re planning to purchase something with cash in that range.
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Re: how much cash do you keep at home?

Post by Sheepdog » Sat Mar 28, 2020 3:08 pm

I keep $500 to $1000 in cash for these reasons. (presently $800)
For Girl Scouts, Boy Scouts, school kids door to door appeals. I can't say no to those kids.
For gambling cash (never more than $300 total for both of us) to play at a casino a couple of times a year.
To keep money available if a weather or earthquake disaster occurs and power sources would be damaged or destroyed.
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Re: how much cash do you keep at home?

Post by Broken Man 1999 » Sat Mar 28, 2020 3:10 pm

Not that I use cash, but in today's environment cash is one of the last things I would want to be handling.

Of course I suppose one could launder their cash before handling it.

I'm sure we could easily find out how to launder cash, but I would be hesitant to be googling how to launder cash.

Someone might get the wrong idea! :oops:

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Re: how much cash do you keep at home?

Post by UpperNwGuy » Sat Mar 28, 2020 3:11 pm

I usually have between $100 and $300 in my wallet. I don't keep any cash at home. I'm a firm believer in banks. I use credit cards for most of my spending.

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Re: how much cash do you keep at home?

Post by JLJL » Sat Mar 28, 2020 3:19 pm

camillus wrote:
Sat Mar 28, 2020 2:47 pm
Curious. How much cash do you keep at home? I was listening to a normally entertaining podcast and I was shocked that the host was seriously suggesting burying cash in the backyard to hedge against mass bank failures. (Some of you may remember Washington Mutual from 2009.)

I think most people here will agree that is way overboard. Still, I'm wondering if you are increasing your at home physical cash reserves. Thanks!
People are using k-cups for this now instead of rusty old coffee cans. :P

What could possibly go wrong with burying cash in the back yard? I store mine in the oven with the chips and bread.

Real answer is abt $300 in pocket money that I’ll recharge to $400 once gone and maybe another $250 in kids piggy banks. I have checking accounts at 2 big banks (WF and CapOne). I’d be surprised if I couldn't get cash from either and have still things to use cash on or that I couldn’t use a card for (of which I have 4 from 4 companies). Hopefully not famous last words.

My dad showed me a short stack of cash buried inside a stone foundation wall in his basement. He said don’t forget about this when you sell off my house when I’m gone.

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Re: how much cash do you keep at home?

Post by Triple digit golfer » Sat Mar 28, 2020 3:21 pm

Currently $0. Usually $0. Sometimes as much as $100, but never for long.

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mrspock
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Re: how much cash do you keep at home?

Post by mrspock » Sat Mar 28, 2020 3:23 pm

I have a spare change coin jar. Does this count? I think it has maybe $80 or $90 in it?

I think you need to stop listening to this podcast :P .

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Re: how much cash do you keep at home?

Post by jebmke » Sat Mar 28, 2020 3:24 pm

normally <= $100 in my wallet. I take out $200 from ATM every 5-6 weeks, hand half to my spouse. That usually takes care of our needs.
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watchnerd
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Re: how much cash do you keep at home?

Post by watchnerd » Sat Mar 28, 2020 3:35 pm

camillus wrote:
Sat Mar 28, 2020 2:47 pm
Curious. How much cash do you keep at home? I was listening to a normally entertaining podcast and I was shocked that the host was seriously suggesting burying cash in the backyard to hedge against mass bank failures. (Some of you may remember Washington Mutual from 2009.)

I think most people here will agree that is way overboard. Still, I'm wondering if you are increasing your at home physical cash reserves. Thanks!
In which currency are you asking?

As for buried cash:

Dumb idea, as it can rot. Some huge portion of Pablo Escobar's money was buried and rotted away.

If you're worried, get a fire safe. Put some cash in it.

We have a fire safe, but no dollars in it, only foreign currencies.
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Doom&Gloom
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Re: how much cash do you keep at home?

Post by Doom&Gloom » Sat Mar 28, 2020 3:38 pm

About 6k in my nightstand since the first of February. I have not accepted currency from any source since then as I don't want to be handling cash these days.

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watchnerd
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Re: how much cash do you keep at home?

Post by watchnerd » Sat Mar 28, 2020 3:42 pm

JLJL wrote:
Sat Mar 28, 2020 3:19 pm

My dad showed me a short stack of cash buried inside a stone foundation wall in his basement. He said don’t forget about this when you sell off my house when I’m gone.
How old is your dad?

Did he explain why he had it?

Is he in the mafia? ;)
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Re: how much cash do you keep at home?

Post by Carmen1409 » Sat Mar 28, 2020 3:46 pm

Not today, internet strangers who could track me down and break into my house. Not today

runner3081
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Re: how much cash do you keep at home?

Post by runner3081 » Sat Mar 28, 2020 3:54 pm

$300-$400, but that is for use at garage sales, not really anything else.

Not sure why there is a need for much cash at home.

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Re: how much cash do you keep at home?

Post by Shallowpockets » Sat Mar 28, 2020 3:54 pm

$2k in 10s and 5s.
Might get more. A true emergency fund.

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Re: how much cash do you keep at home?

Post by bottlecap » Sat Mar 28, 2020 3:57 pm

camillus wrote:
Sat Mar 28, 2020 2:47 pm
Curious. How much cash do you keep at home? I was listening to a normally entertaining podcast and I was shocked that the host was seriously suggesting burying cash in the backyard to hedge against mass bank failures. (Some of you may remember Washington Mutual from 2009.)

I think most people here will agree that is way overboard. Still, I'm wondering if you are increasing your at home physical cash reserves. Thanks!
No. Why?

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Re: how much cash do you keep at home?

Post by mortfree » Sat Mar 28, 2020 4:01 pm

I don’t hold much cash ever. Usually 40-60.

The other day we ordered a pizza over the phone. We had to pay in advance via credit card and then drive to pick it up.

This was a local pizza shop. Not a franchise.

Cash wouldn’t have helped there.

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Re: how much cash do you keep at home?

Post by bluquark » Sat Mar 28, 2020 4:03 pm

watchnerd wrote:
Sat Mar 28, 2020 3:35 pm
As for buried cash:

Dumb idea, as it can rot. Some huge portion of Pablo Escobar's money was buried and rotted away.
It can also be surprisingly hard to dig in the right place again years later. Alan Turing lost his hoard of silver that way: https://www.reuters.com/article/us-mark ... SKCN0UY2OC
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Re: how much cash do you keep at home?

Post by watchnerd » Sat Mar 28, 2020 4:05 pm

Shallowpockets wrote:
Sat Mar 28, 2020 3:54 pm
$2k in 10s and 5s.
Might get more. A true emergency fund.
I don't get it.

Why?

In a virus world, electronic payments via card or phone are more sanitary.
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Re: how much cash do you keep at home?

Post by Shallowpockets » Sat Mar 28, 2020 4:12 pm

watchnerd wrote:
Sat Mar 28, 2020 4:05 pm
Shallowpockets wrote:
Sat Mar 28, 2020 3:54 pm
$2k in 10s and 5s.
Might get more. A true emergency fund.
I don't get it.

Why?

In a virus world, electronic payments via card or phone are more sanitary.
Oh, I am not using the money. I guess it’s like having that AA that gives you the fuzzy feeling of security overall.
If you can’t imagine a time when the electric payments go down, even for a limited time, then you wouldn’t understand the concept. Hey, what’s 2k anyway. Should I leave it in the bank for that zero interest?
If you don’t get it then you have no way to imagine a black swan.

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Re: how much cash do you keep at home?

Post by Gooch1226 » Sat Mar 28, 2020 4:13 pm

Keep minimal cash(maybe $400) everything is plastic . Maximize those credit card benefits.

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Re: how much cash do you keep at home?

Post by rage_phish » Sat Mar 28, 2020 4:13 pm

Generally none

Though we got back from Vegas with $800 cash and with the corona virus just ramping up in China at the time and seeing how quickly it would be here, we decided to keep it on hand

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Re: how much cash do you keep at home?

Post by Dottie57 » Sat Mar 28, 2020 4:14 pm

I have 150 at home. I may try to get a bit more - up to 500 n cash.

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Re: how much cash do you keep at home?

Post by retire57 » Sat Mar 28, 2020 4:15 pm

Zero. That's never even occurred to me. :confused

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watchnerd
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Re: how much cash do you keep at home?

Post by watchnerd » Sat Mar 28, 2020 4:15 pm

Shallowpockets wrote:
Sat Mar 28, 2020 4:12 pm
watchnerd wrote:
Sat Mar 28, 2020 4:05 pm
Shallowpockets wrote:
Sat Mar 28, 2020 3:54 pm
$2k in 10s and 5s.
Might get more. A true emergency fund.
I don't get it.

Why?

In a virus world, electronic payments via card or phone are more sanitary.
Oh, I am not using the money. I guess it’s like having that AA that gives you the fuzzy feeling of security overall.
If you can’t imagine a time when the electric payments go down, even for a limited time, then you wouldn’t understand the concept. Hey, what’s 2k anyway. Should I leave it in the bank for that zero interest?
If you don’t get it then you have no way to imagine a black swan.
The black swans I imagine are ones where money won't help.

But if it gives you a fuzzy, rock on.
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Shallowpockets
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Re: how much cash do you keep at home?

Post by Shallowpockets » Sat Mar 28, 2020 4:19 pm

watchnerd wrote:
Sat Mar 28, 2020 4:15 pm
Shallowpockets wrote:
Sat Mar 28, 2020 4:12 pm
watchnerd wrote:
Sat Mar 28, 2020 4:05 pm
Shallowpockets wrote:
Sat Mar 28, 2020 3:54 pm
$2k in 10s and 5s.
Might get more. A true emergency fund.
I don't get it.

Why?

In a virus world, electronic payments via card or phone are more sanitary.
Oh, I am not using the money. I guess it’s like having that AA that gives you the fuzzy feeling of security overall.
If you can’t imagine a time when the electric payments go down, even for a limited time, then you wouldn’t understand the concept. Hey, what’s 2k anyway. Should I leave it in the bank for that zero interest?
If you don’t get it then you have no way to imagine a black swan.
The black swans I imagine are ones where money won't help.

But if it gives you a fuzzy, rock on.
Well, your black swan is way out there. Maybe I should lean that far.
Quite a bit of ammo too. Currency of the money won’t help swan. Trade goods.

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Re: how much cash do you keep at home?

Post by dru808 » Sat Mar 28, 2020 4:34 pm

watchnerd wrote:
Sat Mar 28, 2020 3:35 pm
camillus wrote:
Sat Mar 28, 2020 2:47 pm
Curious. How much cash do you keep at home? I was listening to a normally entertaining podcast and I was shocked that the host was seriously suggesting burying cash in the backyard to hedge against mass bank failures. (Some of you may remember Washington Mutual from 2009.)

I think most people here will agree that is way overboard. Still, I'm wondering if you are increasing your at home physical cash reserves. Thanks!
In which currency are you asking?

As for buried cash:

Dumb idea, as it can rot. Some huge portion of Pablo Escobar's money was buried and rotted away.

If you're worried, get a fire safe. Put some cash in it.

We have a fire safe, but no dollars in it, only foreign currencies.
Why foreign?
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wander
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Re: how much cash do you keep at home?

Post by wander » Sat Mar 28, 2020 4:43 pm

There is no extra benefits for carrying cash at home. Cash may attract thieves.

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watchnerd
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Re: how much cash do you keep at home?

Post by watchnerd » Sat Mar 28, 2020 4:46 pm

dru808 wrote:
Sat Mar 28, 2020 4:34 pm

Why foreign?
Leftovers from foreign travel.

We travel overseas a lot. No real reason to exchange say, euros or yen and pay the fee twice if you're going to use it again 1-2 years later.
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Re: how much cash do you keep at home?

Post by BullMoose » Sat Mar 28, 2020 5:16 pm

My perspective is that a modest and reasonable amount of cash on-hand is not a horrible idea. The idea is to cover a short term disruption in the payment processing systems. Short-term meaning a few weeks, at most. Anything longer than this is pointing to a large-scale industry disruption and, frankly, there will be larger fish to fry if that happens. The amount is different for most and ties back to your lifestyle. For me, I try to account for a few tanks of gas, a few weeks of groceries and a few bucks to buy my kids an ice cream bar. In my short term disruption scenario, I'm not worried about non-payment of the mortgage or car payments. Those will get worked out in the long-run. We just need a few bucks to hold-us over until the mice get back on the wheel and things begin functioning as expected.
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camillus
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Re: how much cash do you keep at home?

Post by camillus » Sat Mar 28, 2020 5:17 pm

Personally, I think 2k at home is reasonable if for some reason you lost your wallet or if you suffer identity theft or something. Some cash to help wait while things get sorted out. More than that and I would begin to worry about theft and/or fire.

+1 bullmoose

Still, the story of WAMU is compelling: https://www.cnbc.com/id/47874555

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Re: how much cash do you keep at home?

Post by mountaingoatcos » Sat Mar 28, 2020 5:18 pm

$3,000

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BullMoose
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Re: how much cash do you keep at home?

Post by BullMoose » Sat Mar 28, 2020 5:36 pm

camillus wrote:
Sat Mar 28, 2020 5:17 pm
Personally, I think 2k at home is reasonable if for some reason you lost your wallet or if you suffer identity theft or something. Some cash to help wait while things get sorted out. More than that and I would begin to worry about theft and/or fire.

+1 bullmoose

Still, the story of WAMU is compelling: https://www.cnbc.com/id/47874555
I get it, but it is still a short-term concern. The FDIC insurance kicks in and you'll eventually get your money out. As I type this, I'm thinking of the bottleneck in the unemployment agencies this day. Maybe this should be a medium-term concern that is resolved in a matter of months, not weeks or years.
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Re: how much cash do you keep at home?

Post by JVT » Sat Mar 28, 2020 6:09 pm

Shallowpockets wrote:
Sat Mar 28, 2020 4:19 pm
Well, your black swan is way out there. Maybe I should lean that far.
Quite a bit of ammo too. Currency of the money won’t help swan. Trade goods.
Normally sub 200, whatever my wife and I have in our wallets. Agree on the ammo though.

If we are in a situation where all of the electronic payment systems are down for an extended period of time there will be substantial looting from people who have not prepared. You might have cash/supplies - but if people around you don't and are starving...

If deposit rates go negative I may keep a portion of the EF in the safe though.

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Re: how much cash do you keep at home?

Post by student » Sat Mar 28, 2020 6:11 pm

About $1000.

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watchnerd
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Re: how much cash do you keep at home?

Post by watchnerd » Sat Mar 28, 2020 6:19 pm

BullMoose wrote:
Sat Mar 28, 2020 5:36 pm
camillus wrote:
Sat Mar 28, 2020 5:17 pm
Personally, I think 2k at home is reasonable if for some reason you lost your wallet or if you suffer identity theft or something. Some cash to help wait while things get sorted out. More than that and I would begin to worry about theft and/or fire.

+1 bullmoose

Still, the story of WAMU is compelling: https://www.cnbc.com/id/47874555
I get it, but it is still a short-term concern. The FDIC insurance kicks in and you'll eventually get your money out. As I type this, I'm thinking of the bottleneck in the unemployment agencies this day. Maybe this should be a medium-term concern that is resolved in a matter of months, not weeks or years.
In a WAMU situation, cash wouldn't help me anyway.

Most of my bills aren't things I can pay with cash.

Well, maybe some of them have a physical office? I don't even know.
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Re: how much cash do you keep at home?

Post by RadAudit » Sat Mar 28, 2020 6:19 pm

If you want to take any cash out of this house, bring it with you when you come because we don't have any.
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Toons
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Re: how much cash do you keep at home?

Post by Toons » Sat Mar 28, 2020 6:20 pm

Just checked my wallet,
7- Twenty Dollar Bills
And some change in a small bowl
:mrgreen:
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Re: how much cash do you keep at home?

Post by stoptothink » Sat Mar 28, 2020 6:28 pm

watchnerd wrote:
Sat Mar 28, 2020 6:19 pm
BullMoose wrote:
Sat Mar 28, 2020 5:36 pm
camillus wrote:
Sat Mar 28, 2020 5:17 pm
Personally, I think 2k at home is reasonable if for some reason you lost your wallet or if you suffer identity theft or something. Some cash to help wait while things get sorted out. More than that and I would begin to worry about theft and/or fire.

+1 bullmoose

Still, the story of WAMU is compelling: https://www.cnbc.com/id/47874555
I get it, but it is still a short-term concern. The FDIC insurance kicks in and you'll eventually get your money out. As I type this, I'm thinking of the bottleneck in the unemployment agencies this day. Maybe this should be a medium-term concern that is resolved in a matter of months, not weeks or years.
In a WAMU situation, cash wouldn't help me anyway.

Most of my bills aren't things I can pay with cash.

Well, maybe some of them have a physical office? I don't even know.
+1. 75%+ of our expenses, I do not believe there is any way I can pay in cash. I've been through 2 hurricanes, never been in a situation where cash was necessary. I usually have a $20 in my wallet.

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Re: how much cash do you keep at home?

Post by whomever » Sat Mar 28, 2020 6:33 pm

Enough for a few months of groceries.

Right now credit cards are working, but we've had extended power outages where the stores were taking cash but not cards. I've been a starving student where having a few months of grocery money wasn't feasible, but once it was feasible doing so seems like a no brainer.

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Re: how much cash do you keep at home?

Post by geerhardusvos » Sat Mar 28, 2020 6:40 pm

No cash. Only a few coins (silver and gold) But only because my grandpa gave them to me
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Re: how much cash do you keep at home?

Post by Sandtrap » Sat Mar 28, 2020 6:52 pm

For many years, I always used to keep 2-4k around. Never spent it. But, it went down and I'd replenish it.
Where did it go?
DW. . . . "I need $100 for a birthday gift". . . . . . :|
DW . . . "Stucco guy dropped by for his balance due, I gave him $800 from your "stash". . . :(
DW . . . "We" helped son #1 with is car repair, I gave him $400 from your "stash". . . :confused

So, I no longer have a "stash". :oops:

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Re: how much cash do you keep at home?

Post by celia » Sat Mar 28, 2020 7:04 pm

watchnerd wrote:
Sat Mar 28, 2020 4:05 pm
Shallowpockets wrote:
Sat Mar 28, 2020 3:54 pm
$2k in 10s and 5s.
Might get more. A true emergency fund.
I don't get it.

Why?

In a virus world, electronic payments via card or phone are more sanitary.
We have $400-500 in small bills in case of an earthquake. The electricity might be out and when stores open, they might not be able to take credit cards. Or my neighbor and I might want to barter and we could ‘even up’ using small bills.

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Re: how much cash do you keep at home?

Post by gator15 » Sat Mar 28, 2020 7:12 pm

Kept a couple hundred dollars in my wallet then lost it a couple years ago and felt bad about it for a couple of days. I try to keep $20 or less in my wallet now.

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watchnerd
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Re: how much cash do you keep at home?

Post by watchnerd » Sat Mar 28, 2020 7:36 pm

celia wrote:
Sat Mar 28, 2020 7:04 pm

We have $400-500 in small bills in case of an earthquake. The electricity might be out and when stores open, they might not be able to take credit cards. Or my neighbor and I might want to barter and we could ‘even up’ using small bills.
We have frequent blackouts where I live during winter storms.

When the power goes out, the electronic POS machines don't work, either, so they can't ring anything up.
70% Global Market Weight Equities | 15% Long Treasuries 15% short TIPS & cash || RSU + ESPP

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