Mommysavers › Forums › Frugal/Simple Living › Money Matters › Stashed Cash??
New Posts  All Forums:Forum Nav:

Stashed Cash??

post #1 of 16
Thread Starter 
I have been wondering...how much money should a family of 4 have stashed at the house?? I have been married over 15 years and have never done this. But once we had a blizzard and we had no cash stashed at home. The banks were closed, ATMS down, etc. One of our friends traveled 2 hours away to buy a generator they bought one for us also and we paid them when the banks opened over a week later. Power was out for 3 weeks.

We had money in the savings but not in the checkbook for that. That is why we had to wait until the bank opened.

My mom called me and said that on news it said that "Cash is King" and that families need to stash cash in their homes in case of emergencies. But how much??? It is hard for us to even save in a reg savings.

My question is do you all stash cash??? If so how much do you think we need for a family of 4??

Sign in with the Money-Advice-Needed..if you don't want people to know how much you have stashed but I really would like to know if people really do this.

In my home now I have only $150 stashed.
post #2 of 16
I live in a hurricane area and it is a general practice to have at least $100 in cash to buy provisions should the power in the county be out for a while. Then again I stock pile food, water and batteries and usually gas up before one is to hit. The only time I did not have that much cash and needed it was when we were hit with the earthquake in Hawaii.
post #3 of 16
Like Anne Marie, I live in hurricane country (south Louisiana).

At the beginning of hurricane season, we add a few non-perishable items to the shopping list each time we go to the store, so that we have plenty of food on hand that won't require cooking if we lose power, and we don't have to buy it all in one swell foop. We don't keep cash in the house at all times, but we do fill up the gas tanks on both cars and draw out $100 or so before battening down the hatches so that if we need anything while computer systems and ATM's might be down, we can get it.
post #4 of 16
I haven't really stashed cash here, but was thinking we might. We did need cash once when we had an ice storm and were stuck at home. For some reason we ran out of milk (I think our boys were drinking a LOT at the time and we were stuck at home a while). Our neighbors were going to attempt to go to the store and offered to get us anything. We asked for the milk, but then I had to raid my boys piggy banks to pay them for it... pretty sad, huh?

Oh, I forgot, but I do actually have about $200 for my soccer teams ref fees in my soccer bag (left over from last season - for next season). SO, if we did need cash we can always borrow from it.

Good question though!
post #5 of 16
If there is cash in the house, it will be spent by DH. I guess I could hide it from him until he really needs it.

We have two checking accounts, one for regular purchases, and the other is treated as a savings account, not to be used unless absolutely neccessary & for property taxes.

I take $50 from our checking account each week so that DH can have some cash & not use the CC as much. I'm trying to pay cc down & little purchases here & there on it are not helping me with that!
post #6 of 16
We try to keep about $200. I use the $1s to pay my babysitter, and my husband grabs from it for cab rides when he travels, or we give it as birthday $ to the nieces and nephews. Then I'll restock by cashing a survey check or something.
post #7 of 16
You have to think about why you might need the cash. We keep around $300 in the house, plus whatever cash we'd already have on hand. For us, that would be money to get gas and a night in a motel if we had to 'bug out'. We'd barter for everything else. If a large crisis or economic collapse really happened, I doubt that paper money would do much good anyway.

Mind you, we lived through the '89 Loma Prieta Earthquake and barely used cash at all. Although, when hubby's dad was dying and he had to drive to get to his side with barely an hour's notice, that cash really came in handy.

If you keep cash in the house, keep smaller bills. The scalper at the grocery store who has a gallon of water available probably won't be giving change for a $20.

We keep the cash in an envelop that is tucked away in a safe place (BTW, tucking cash away in more than one place is probably a good idea, too.) Out of sight, out of mind.

As an extra precaution, we also tend to buy and save small silver and gold coins. Again, when the paper money economy collapses, at least silver and gold will still be valuable. Silver is better than gold, though, because it is easier to trade for smaller value items.
post #8 of 16
Living in earthquake country, where we have no early warning like with a hurricane/storm, it would be beneficial to have some cash stashed in case of a natural emergency.

But, we don't. We're always stocked up with the non-perishable food, but not water, milk, tp, etc.

It's something I need to do to be prepared, not just for acts of nature, but unfortunately, acts of terrorism, etc. as well.

I'm guessing that I should have enough cash on hand to get us through a week without access to an ATM Good tips from Cookie2 on denominations and hiding in numerous places around the home.
post #9 of 16
I am glad someone asked this question. I have been thinking that we need to do this also. We had an ice storm and I had a stockpile of food, gasoline, kerosene but we had not even thought of getting cash for the house. We could have used it because the ATM's were down and could have used it to buy more batteries. After a 3 days we ran out of batteries. People were traveling 2 hours away to another state to buy batteries, etc. All stores within 1 hour away were closed. Most places were not taking out of state checks. I was wondering how much is enough also.

I have a relative that thinks you should have at least $1,000.

Hiding it in different places is a great idea!! I never thought of that. One thing for sure never put it under your mattress. My friend stashed her "run away from her husband money" there. I told her to move it because it was too obvious. She didn't and a few days after Christmas someone broke in stole ALL their electonics, ALL her kid's Christmas presents, and ALL their beds were torn apart and her stashed cash $3,000 and her jewelry was stolen also.

My other friend stashed "cold cash". She put $500 in a piece of foil and stuck it in the freezer and came home one day to add it and it was gone. Her husband had cleaned out the freezer and threw it away and the trash truck had already hauled it away!!! Another friend's mom had a coffee can she kept hers in and she moved out of her rental and remembered that she had forgot to get it. By the time she remembered it it was too late.
post #10 of 16
I really don't have any purposely set aside for that purpose. The kids always have money from their allowance in their rooms, so I would use that if I had to. That would be probably a few hundred dollars.

I do have a shelf in the basement that I make sure has non-perishable foods, water, radio, flashlights, batteries etc
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Money Matters
Mommysavers › Forums › Frugal/Simple Living › Money Matters › Stashed Cash??