Emergency cash at home - how much? denominations? ever use it?

**Denvergirlie** · 03-18-2010, 02:31 PM

So I am thinking of starting to keep some emergency cash at home and am having a hard time with it.

For those of you that do this also, I have some questions for you.

How much to you keep on hand in cash (not counting anything in a bank)?
What demonimations do you keep? all in 100's or 20's or a mix of small and larger bills?
Has having this cash on hand helped or hindered you?

I have emergency money in the local bank as well as in ING online, but have found that sometimes this is not cool to have to wait a few days or run into withdrawal limits thru an ATM on the weekend. Sure, it hasn't been all that hard, but it's popped up over the years as a real drag and we've missed a fews opportunites because of it.

So I am now seriously considering having some cash at home, tucked into the safety deposit box. I am pretty good about impluse purchases, I learned the hard way about debt, but do spend on occasion more than I am really comfortable with. I am not overly concerned about it just "wandering away", but also recognize that it might be something that I am not 100% strong on yet.

However, I really feel the need to do this, also from a prespective of being able to leave the house on a moments notice (Working on BOB's (bug out bags) as well) and in case of an emergency, power outages, forest fire, etc would like to have this added security blanket.

Any thoughts or comments from those that have BTDT, or have thoughts along my own?

thanks

**ladykemma2** · 03-18-2010, 02:34 PM

Originally Posted by Denvergirlie

So I am thinking of starting to keep some emergency cash at home and am having a hard time with it.

For those of you that do this also, I have some questions for you.

How much to you keep on hand in cash (not counting anything in a bank)?
What demonimations do you keep? all in 100's or 20's or a mix of small and larger bills?
Has having this cash on hand helped or hindered you?

I have emergency money in the local bank as well as in ING online, but have found that sometimes this is not cool to have to wait a few days or run into withdrawal limits thru an ATM on the weekend. Sure, it hasn't been all that hard, but it's popped up over the years as a real drag and we've missed a fews opportunites because of it.

So I am now seriously considering having some cash at home, tucked into the safety deposit box. I am pretty good about impluse purchases, I learned the hard way about debt, but do spend on occasion more than I am really comfortable with. I am not overly concerned about it just "wandering away", but also recognize that it might be something that I am not 100% strong on yet.

However, I really feel the need to do this, also from a prespective of being able to leave the house on a moments notice (Working on BOB's (bug out bags) as well) and in case of an emergency, power outages, forest fire, etc would like to have this added security blanket.

Any thoughts or comments from those that have BTDT, or have thoughts along my own?

thanks

in order not to debt, i keep 1000 sewn into the lining of my purse at all times. no, i never lose my purse. i have only had to use it once.

here we have hurricane season to consider.

**savvy_sniper** · 03-18-2010, 03:03 PM

Like ladykemma we are in the hurricane zone. I ALWAYS have $100 in small bills stashed year round. As hurricane season gets closer, I start to stash any and all CASH I get.

As far as denominations, I keep lots of 1s, some 5s, 10s, and 20s. Following a hurricane there is often no power. So credit cards and ATMS won't work. Businesses will often have problems making change; thus small bills and some change on hand can come in handy.

When hurricane season is over, the money is put into savings.

**rudypoo98** · 03-18-2010, 03:25 PM

Since I live in a very small town where everyone knows you and your business.I only keep maybe $2 in change in a vase for the grandkids to get a ice cream cone at the drive in.It's close too at the end of my block so we walk.Since I know all the business owners here if I really needed anything I could charge it.

**Contrary Housewife** · 03-18-2010, 03:25 PM

I have $100 and two $50's on hand for REAL emergencies, because they were given to me in those denominations and it was easy to just tuck them away. I should convert them to smaller bills because as SavvySniper says you need 1s and 5s to pay for things when cash registers are out.

We live in tornado country. We have also been through 2 ice storms where power was out multiple days, though fortunately not so widespread we couldn't use debit cards to get food across town.

I keep $20-$50 in smaller bills for unexpected expenses like DH deciding to pay someone to mow the lawn and coming to me after the fact for cash, and for those occasions when we go to a craft or hobby show and want spending money.

**Greebo** · 03-18-2010, 03:31 PM

Not being in an area with high risk of not being able to go to an ATM or use one of our debit cards at a store, we don't keep emergency money in the house. Ceashels has umpteen million $20's in her "blow money I haven't blown yet" pile - but that's not emergency money and if she ever tried to use it for an emergency I'd have to go all biblical on her. (Don't beat your wife with a stick thicker than your thumb...)

**joyofsix** · 03-18-2010, 09:07 PM

We have an emergency fund in the bank of course but dh and I both keep personal piles of money. It is theoretically for fun (I bought a computer, he uses his for hobbies) but I hit it for shoes for the kids, unexpected field trips etc all the time. We probably have a couple thousand in the safe. We do get power outages and tornadoes and live a fair distance from any 'city' so we could conceivably need it.

**Birdie** · 03-19-2010, 10:48 AM

I keep $250 in my safe. $100 is in $20s and the rest in $5 and $1 bills. I've had to use it a few times over the years, so I keep replacing it when I use it.

I tend to worry if I don't have enough $$ available, so I also keep $5000 as a MM account/overdraft to my checking account and 3 years expenses in a CD ladder. It works for me.

**monkeywrangler71** · 03-19-2010, 11:22 AM

I don't keep cash at home. Stores and gas stations here are not open when their power is out, so I would have to go to another town or area to buy anything anyway. My bank has about 1200 branches, I can get money out anywhere.

**porembam** · 03-19-2010, 12:01 PM

I keep $1000 IN 20'S
I like the idea of smaller bills
I must say I have never used it in an emergency but when I was a kid in the 70's we ran out of money during a blizzard and I never want to have that feeling again.
The stores were open but with no cash to buy we went without.
Hopefully I am raising my kids were they never have that feeling

**Mom2-3** · 03-19-2010, 12:18 PM

I've never thought of having cash for an emergency. There is food and water in the house (stockpile) and gas in the cars. I hardly ever have cash on me, maybe less than $5 at a time.

In my years as an adult, I've never needed it so I just don't have money stashed around the house.

**krbshappy71** · 03-19-2010, 03:43 PM

I am keeping $ in a safe but its torture to have it so available. I'm also the same person that you could freeze a credit card in a block of ice and I'd just microwave it thawed. (been there, done it, no joke)

I'd be better off burying it in the backyard as I'm lazy enough that just might work if I had to actually dig a ditch to get to it.

What am I thinking, the four dogs would do it for me! Drat, that wont work either.

Lock it up somehow and maybe give the key to a trusted friend or family member. I did do that with my teen's cell phone because I kept caving in and giving it back when she should be grounded from it. It worked! Hm. I should apply that knowledge too huh.

QM · 03-19-2010, 05:18 PM

I'm just in the process of working on my EF. Once it's where it should be, I'll have $1,000 hidden in the house.

**Grainlady** · 03-19-2010, 05:52 PM

We keep $1,000 in a mix of bills in the house in our evacuation kit and $100 in each vehicle. It goes along with general emergency preparedness. The comfort level and trust level with cash in your home will be different from person to person. This amount is what hubby and I agreed on.

**Jilly** · 03-19-2010, 06:20 PM

I am glad you raised this topic because now I've gotten a better idea on what my FV neighbors are doing. My grandparents taught me to when I was a young girl to always have some $$$ stored for a rainy day.I have intended to start a habit of keeping some cash stashed in the house for unexpected events. I do think it is important because there have been times when I've needed quick cash (yard guy, lunch money, bus fare) and had no reserve. I do not write checks unless it is very necessary and pay most of my bills online so when I get paid, unless I deliberately go to the bank, I rarely have cash even in my wallet.