Posted: 4/2/2008 1:57:32 PM EDT
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How much cash do you keep (and in what denominations)? At home, I'm slowly building up a pile in my safe. My plan is: $100 in ones $100 in fives $100 in tens $100 in twenties $100 in fifties $100 in hundreds $10 in quarters (one roll) $5 in dimes (one roll) $2 in nickels (one roll) $.50 in pennies (one roll) Then for every day cary: $5 in ones $10 in fives $20 in tens $20 in twenties (no coins) Everything else goes in the bank. |
+.75, since I'll tell a little. I always keep a spare $20 in the truck (started way back when, when I thought of it as "enough to fill the tank and have a little left over") and carry a minimum of $1 in quarters for calls/vending machines/et cetera. Anything over that is a day-to-day variable. As for anything further... see Waldo's response. 
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I dont have two nickles to rub together, but I will say this. Dump the 50s and 100s. ARound here its hard to find place that will accept them. If your in the boon docks, youll be even more hard pressed to cash it. 20s and lower is what I would keep. ALso keep in mind that most home owners and renters insurance only cover $250bux in cash, nothing more unless you have an amendment to your policy. |
yep, get rid of the big bills, pick up some silver coins, maybe Kennedy Halves, pick up $150 worth of those....My fictional survival character will always keep at least one K-rand, or Canadian 1oz Maple Leaf in his safe/BOB too...and he has access to more funds in a secure location in case of computer meltdowns...We are only taking about a fictional character here |
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Where I live the grocery stores use a bar code to scan the item before they even know what it's worth. If the power or Internet is down the dumb clerk isn't going to know how to figure out the price let alone actually add numbers together and make change! The gas pumps also fail without power. Nothing I need that I can buy outside a conduct code violation. I did keep a sum of cash in the house ... it's much, much smaller - think a dinner out at Sizzler for two. 
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I keep a fair amount. I've heard it said to have enough cash on hand for food and a hotel for a week minimum, 2 weeks is better. All I WILL say is that I have $100 in sequential $2, just for fun. I also have silver, but that's more for a TEOTWAWKI type situation. Cash will be king in localized of short term SHTF's |
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I keep a few hundred dollars or so handy, but to me its just dirty green paper that upteen millions of people have handled and has little shtf value to me. I would rather convert the cash into food, ammo, sleeping bags, first aid stuff, etc. Short term shtf, its great to have enough money on hand to buy gas and other stuff for a few days if plastic isnt working, but having a large amount of money on hand is not for me. |
7-11's ,quickie marts Sorry I couldn't help myself. I'm still laughing from the picture of a penguins on a polar bears back about to slam symbols together so I'm not responsible for any post or spellings. |
Heck, even in the late 70s I tried to keep at least a grand cash handy. Of course, that's ALL we used back then.For everything! You'd be surprised at the deals you get when you wave cash! |
| I keep a few thousand cash, mostly $100s. Since I have to respond to disasters, I also keep $100 in $1s and $200 in $5s. Katrina was the first disaster where merchants didn't want cash. The lawlessness was worse then the disruption to the telephone/satellite networks. However, I saw a gas station in northern Alabama (just south of Huntsvile) that was forced to use the old paper credit card slips and get a manual verification. Were I not the only customer, I would have paid cash to save time |
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I keep $120 in $1-5-10 & $20 in my 4Runner. $100 hidden in my wallet ,most times I keep $150-200 in my wallet for day to day use. I live in a rural place less than 400 population.Having this money saved me when I got stuck in a very rural place and no one took credit cards. A windstorm knocked power out and if you were not a local they would not take your checks. Keeping cash in my pocket has worked out well at many garage sales and swap meets. I used to keep $300-$400 in my safe at home but in this last few months with all this lack of liquidity & financial problems I keep $4000 20% $100's & 80% $20's. I've been selling off my spare Garands lately and just put the money in the safe. I figured if I put the gun sale money in the bank it would end up staying there and not make it back into my "gun/ammo fund". With the low bank rates I'm not losing much letting the cash sit at home. When you live in earthquake areas you never know when the big one will hit and you may need cash to buy things before the stores go empty. I should add that it is a 110 mile round trip to my bank,not just down the block. I think if ever the time to put a little cash back the time is most certainly now. Who knows what the real world/US financial situation really is. I normally keep a decent stash of food in my house but lately I've bought about 5 times that amount and half is long term storage stuff. I figure buying a case or two extra at COSTCO each month will save me big bucks with this inflation. Red |
Same here. And hyper-inflation is a likely SHTF scenario, IMO. Right now for emergency, I have immediately on hand, approx. $250.00 cash, $3,600.00 gold & silver coin. Will be adding another $1,000 in gold over the summer (once I get my $600.00 from Uncle Sam ).ETA: One thing that needs to be pointed out. There may be a difference in purchasing power between current dollars VS SHTF "dollars", depending upon the SHTF scenario. Let's take the possible case of hyper-inflation. Were that to happen, $10,000 set aside in cash might only be worth $100.00  , OTOH, it's likely that $5,000.00 in gold would (at current gold prices of aprox. $900.00 per ounce) be worth at least $10,000.00 in SHTF "dollars". |
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I keep 500-1000 in 20 bills or smaller, 40% and 90% silver, and tenth oz gold coins I think bigger ones will be hard to get rid of. Plus I keep some special barter items, though my stock is low at the moment. I think I'm going to trade off some of the coins for more trade goods. I don't think most people will give a rats ass about the value of gold or silver when they're freezing or starving. Though, eventually if a problem lasted long enough, that type of commerce would come back. I like to know I can get what I need in an emergency, but anymore, I don't know what I'd need, I pretty much have it all already. |
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You know it would probably shock everyone to know how easy it is to temporarily freeze all your bank assets and I am totally not even referring to the court system. There's crime, fraud, IRS, and even as simple as some airhead hits the wrong button on a computer terminal. Ever try to bribe someone to go that extra mile with a credit card? How about that Mexican border guard that can't read your visa business stamp? How about late at night in a strange city and a taxi driver that wants to go home? A little cash can make the difference of waiting, walking, and sleeping in strange places. It gets help from people who would other wise leave you. Its a reward to those who are willing to help you in a time of need that ask for nothing in return. By paying obviously more than something is worth people will sell when they would not otherwise. Some people rely on people having pity on them in an emergency. Some people don't. Some people don't even think about it. As for denominations, keep the small bills on your person and only $20s, $50s, and $100s back. Most stores will break a $20 and even a $50 and if you're buying a gun/car/bike etc. they'll take the $100s. If you want to save change, save in a jug and cash it in to buy a gun. If the power's out the coke machines won't be working and its not the time to be buying candy bars or worrying about exact change. Tj |
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Having gone through Rita, cash was king for my wife when she left the area. Credit cards were king in the affect area. I stayed and worked thru Rita. No store accepted cash for up to two weeks after the storm. All stores were up and running within 2 days of the storm, all on gens, but they ONLY accepted CCs. And gold/silver would have been worthless.
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Am I understanding you correctly that merchants did not want cash since the lawlessness concerns gave them fear that they might not be able to hang on to it? That it might make them a robbery target? And completed credit card transactions (or signed paper slips) did not have that fear? I'm having a hard time wrapping my head around that. Wouldn't refusing to accept cash and keeping the goods onhand give rise to the same situation? |
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I think most people would be well served to have between $1K<->$5K in the safe, depending on their net worth and what they can afford to set aside of course. The vast majority of money in this world is in the form of 1's and 0's in the banking network. If the credit card / ATM networks are out of service, that only leaves paper currency as available legal tender. (yes, and gold of course) Many people worry that their paper currency will become worthless in SHTF but in reality it is the only easily tradable and recognizable currency available (without electricity and banking networks). Instead of inflation in paper currency, there could actually be a deflation because there is so little paper currency in circulation as a percentage of the total money supply. Imagine a rural town where if you tallied up the networth of all 1000 inhabitants, it was $50M total Money Supply for the town or an average of $50K per person. However, imagine that the average resident only has $237 per person on hand, including what is on hand at the local bank branch vault. That is an actual, tradable Money Supply of $237,000 for the entire town, or a 99.5% reduction in liquidity because the banking network is out of service. So when Joe Arfcom walks up to the grocery store to pick up some last minute supplies and has $1000 in his pocket, he is likely to be the "richest" person in town with respect to legal tender currency. Most people won't be able to buy anything because they have no access to ATM, Bank or Credit Networks. If you look at "less-developed nations", people are much more familiar with keeping larger portions of cash on hand (relative to their net worth) as they do not readily have access to these wonderful ATM / Bank / Credit networks. And they are more experienced with continued outages of whatever networks and power they do have. If we experience some SHTF events along the way in this country, it would temporarily make that area function more like a "less-developed nation". Prepare accordingly. Having some extra cash around doesn't cost you anything except the lost interest that you might have earned on it. No one is going to lose sleep over that. |
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I keep a fair amount of cash on hand, secured in the safe. I make sure I have a mix of 1's, 5's 10's and 20's on hand, as in an emergency, I don't expect anyone to b able to make change. I have always emptied my pocket change into a jar, so coins won't be an issue if any are needed. I keep some large bills on hand also, as a back up for non SHTF, but "cash emergencies" that has a way of popping up. I have kind of trained myself to forget the cash in the safe exists as I go about my daily life. I rather not discuss just how much I have on hand, but I am constantly adding to it, bit by bit. |
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Gold and silver are really post apocalypse tender. They become useful when the only system available for transactions is barter or precious metals. So until that time good old cash and credit cards are the only way to go. Of course one thing many people forget is legal proof of who they are. Not only should you have such paperwork on you at all times but certified copies should also be stored in other areas for safe keeping. |
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We keep 100 in cash plus coins and bullion. We should store more cash. The problem with silver is value to weight. I can accumulate a lot of silver but I can't carry it worth a damn. I think that you might be better off with one of the lesser denominations of US, Canadian or South African gold coins. This sounds wacky; but, have you thought of storing multiple currencies? I am thinking of the Pound, the Loon and the Euro. If the dollar melts down, you might have a little extra time left on these currencies. Rob |
I read people say this in other threads too so i just gotta ask....... I'm not a financial wizard by any means and holding other currencies may be a good idea if your talking about a lot of money or some kind of investment? But in the area i live in I doubt very seriously you could do jack squat with foreign money in any kind of shtf situation.... hell i'm not sure you could do anything with it without driving 60 miles in normal times...... I may very well be showing my ignorance and thats fine........ Just educate me. |
I disagree on this one. Sometimes a nice crisp $100 bill can do you A LOT of good. I used to keep one with me at all times for emergencies and it came in handy. |
You understand correctly. I'm guessing it was a a combination of stores being open with merchandise trucked in, but no local banks acepting cash deposits. it would be easy to rob a merchant of 10,000 cash, but much harder to rob them of 3000 big macs, or 1000 cases of coke, etc I'm not saying this is the trend in the future, but it was true for Katrina, in NOLA, at least. In gulfport, the damage was worse, and I don't remember many places being open |
I've read that part in blue several times and i beleive the store owners probably wanted cc's........ but i'm not beleiving you couldn't spend cash.... |
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Not to be seen as a taking advantage but I like to have a few K on hand in the event that someone needs to part with a rifle, scope or other gear when thier wives givem hell for over spending. Usually have a good supply of ones and fives for the kids lunch money and such. When I started out our medical insurance sucked (just basic hospital and ER) so I put a certain amount of cash aside each year to cover possible perscriptions, dental and office visits. When we did our addition and relocated the safe, I found $10K in $50 bills all from the early to mid 80's. I thought Wifey had deposited them once we had good coverage and she thought I wanted to leave it be. As things improved, we have still been living within our means and buying a car or truck every 10 years while this windfall remained hidden...now that we have teenagers it is a nice score. Pete |
| It's always good to have cash on hand. Good deals, bribes (uncle Franklin can always turn a frown upside down), getting out of chillies with out needing to talk to the annoying coked up waiter again, girl scout cookies, the list is endless.. The only thing I use CC for is pay at the pump gas and online purchases. |
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As mentioned one screw up at the bank can mess you up. Think about a 2nd account with a totally different bank or credit union. We talk about 6 months of expenses in a bank account for unexpected stuff, I consider that 2 in hand and 4 in the bank. If I am out of town and my bank has a problem I will pay my bills with money orders from the post office or something instead of my usual checks. Not a big whoop to solve that problem if I have the money in hand. Right now I am not real liquid. Been an odd year so far, pretty good but rather odd so I am just kind of surfing along with no issues but not making major headway on some stuff. I don't even let my paycheck go direct deposit because of a screw up over a decade ago. I would rather get my paycheck at work and cash it at work than worry about direct deposit or the bank screwing things up. If I was further ahead the worry would not be there, but right now it could cause an issue so I don't give it a chance to cause an issue. |
I've got a cc so it doesn't matter....... And i'm sure there were some stores that wouldn't take cash..... But i'm a misplaced Texan and cosidering the fact i've seen the gas station man sell beer after hr's for an extra 20........ i'm hard pressed to beleive you couldn't spend cash anywhere if you were willing to grease the wheels a little  |
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I'm a firm believer that, especially in these times, keeping minimum $2,000 in $20s is a good idea - or do what you can try get as close to this number possible. Big Big ditto on the banks potentially locking up the checking/savings account or network systems down altogether. DO NOT rely on your bank where 100% of your cash is. Half my 'floating' cash(not earmarked for accts payable ) is with me at all times... If I could, I'd have gold and silver coin in small denomination as a back-up or for long-term uncertainties. Wish I had my shit together 10yrs. ago... Good topic. |
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Hey acman145acp, Like I said, it is a wacky thought as a noninvestment. As an investment, I wouldn't know the first thing to do. I started thinking about it after I started looking at BOL's in Canada. But the closer to the border you are, it might make sense. Rob |
Very good points I havent consider, thanks for the insight Cam ETA run on banks would cause a shut down, I would think its wise to keep out as much money as possible and to leave only enough to pay bills. |
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Nobody knows what, if anything, is going to happen, but it's just plain common sense to keep st least $200 or $300 in cash somewhere just in case things drift in certain directions. I have a little cash at home, but can't remember if there's any in the car. I think there's a little in the BOB in back, but I'm not sure. Seems like it would be a good idea to have some cash in the car, too. Note to self.... |
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With the current price of fuel who can fill up their vehicle if they lose their wallet or the plastic machine is down because the phone lines are down? At work the other day the phone lines or whatever is used for checking credit/debit cards were slow, I don't know if it was the lines or what but it was more than just my store. Now that I have a more efficient machine with a smaller fuel tank filling it up takes less cash. There are many reasons to have some cash, and as usual you should consider common needs long before the "zombies ate the phone lines and my credit card can't get authorized" answers. Just something I decided to add and did not feel like editing my first post. |