Emergency cash?

**dcompton** · 01-30-2010, 08:42 PM

As I have said before in posts, I don't like to have much money around the house. However, I do acknowledge that it is probably wise to have some emergency cash on hand. But I'm wondering how much is necessary.

I don't live in a place much subject to big wipe-it-all-out natural disasters. No hurricanes, big wild fires, blizzards. Only a somewhat remote chance of earthquake. We have a few tornadoes, and occasional flooding here and there, very occasionally a prolonged ice storm, but that doesn't take down the banking system.

Other than buying gas (if the power is out, do gas pumps even work?) and maybe a few other purchases, I'm not sure what I would need it for. But then, I don't think much in "emergency mode" and may be missing things.

What are your thoughts on this, and how much so you think is reasonable to keep on hand?

**frugalwarrior2** · 01-30-2010, 10:25 PM

We have lost power for a week at a time around here. In the summer-Cold pop or anything w/ ice can be a luxury. Gas and water. When the electric is down cash is king.Some stores will stay open and do cash but won't take checks w/o verification and can't do credit either. You have enough headaches w/ generators buzzing and kids whining about no electronics,toilets that won't flush. Our stove is electric so of course 1 time we ran out of propane. Another time there were some great garage sale deals ( no open bank or ATM). The point is you don't know what will pop up.
Anyway, in a perfect world I would want $300.-$500. in a safe.
No,don't come over because i don't have the safe,let alone the funds.

And no the pumps don't work you have to drive to another town. You should have at least 2 gas cans. And cash for gas in case.

**tlenad** · 01-30-2010, 11:16 PM

I've been struggling with this idea as well. I feel like I should have some money in the house just in case. I figure rather than putting it a safe I'll just stash money here and there through out the house.

I would want enough to fill up my gas tank, purchase any emergency items I might need, medicines and the like plus a little extra to cover any groceries I might have need of if the power is out and the grocery store was only taking cash.

So I'm thinking $100 - $200 would be about it and that's estimating high. All that said, I don't live in a disaster area and I live very near a school so power is typically back up shortly after it goes down around here.

I'm sure there are other things that could happen that I would need more cash for but I don't feel all that comfortable having much cash laying around.

**Contrary Housewife** · 01-31-2010, 12:03 AM

I figure you should always have enough cash on hand to make bail.

For real emergencies or disasters figure enough to live off of (think of expenses like filling up the car at jacked up rates or getting a hotel room if you have to leave your home, plus food and supplies) for a *week*. That's about how long it takes for emergency crews to respond and get power and water back on, and get folks relocated or sheltered.

So I'd say several hundred dollars, depending on the size of your family and whether you have bug-out bags prepared to eat from. And it's recommended that you have small bills, 5s, 10, and 20s because people might not be able to make change for larger bills, or might not trust them if it is not something they see often.

**mauimagic** · 01-31-2010, 12:08 AM

I would like to have $500 handy, but haven't been able to do that. We always keep our cars gased up and emergency water handy too.....and lots of tp on hand!!

**frugalfranny** · 01-31-2010, 12:24 AM

I don't keep that much on hand BUT...

I try to keep the 'top half' of my gas tank full.
Lots of food, water, tp and 'edible things' that don't require cooking. Corded phone plugged in and manual can opener handy along with candles and flashlights. Along with med. type things and any RX I need.

If they say that a big storm is coming in I might have a little more and double check the supplies, go get them ahead of time.

We have had many 'home invasion robberies' and I won't even keep a change jar/piggy bank around. (though none in my neighborhood, thank heavens)

**Lora88** · 01-31-2010, 07:53 AM

Always have cash on hand learned it from my Dad. When I first went to work my Dad handed me 100.00 and said put it in your wallet no woman should walk around broke only spend it on an emergency now that was a long time ago. So Ive upped the amount of cash on hand to about 1000.00 sort of my baby ef ala Dad . However its hidden so well in the house I forget where it is sometimes lol

**monkeywrangler71** · 01-31-2010, 10:46 AM

$50 in case the payments system is down on a Sunday and we are out of gas - otherwise I can't think of any scenario where cash would be both necessary and useful. If there's no electricity nothing is open, pumps don't work, cash registers don't work; no one will be around to take my cash. If the payments system is down but the electricity is on, I can go to the bank for cash.