Cash is king!

Cash is needed for extreme emergencies, and you can't rely on the bank to give it to you.

We aren't talking about an emergency fund that you keep in the bank. We are not talking about the six months to a year to keep in the bank to tide you over in case of unforeseen circumstances like a loss of job. That's not what we are talking about here.

It is cash that you keep stashed away at home for when there is an extended power outage, a natural disaster like a hurricane, or a snowstorm, or a cyberattack, and ATMs and credit card readers or digital money are not available.

It is the money you would keep in your safe or someplace secret. Because the safe is the first thing the thief will be looking for. For some, it makes more sense to keep the money in a zip-lock bag and then kept in the freezer, or stashed inside a coffee can and buried in your backyard, or in a pretend can of canned vegetables and kept in the pantry. The trick is to remember where you kept the money, LOL. Make sure a member of your family knows where you keep your stash, or it will surely end up being a treasure hunt!

BTW, there is a whole cottage industry whose business it is to cleverly hide your money, if you want to be serious!

In the case of natural disasters, there is a website entirely devoted to that. They list the things that you might need, from water to canned goods, etc, HERE. Be sure you have a can opener!

They have not listed money as a priority.

But not all people believe in keeping money at home. Some feel that carrying money in their wallets is a chore! For as long as they have their phones. So to them, carrying money is unrealistic. Do you think it is generational?

Physical money actually helps you save... as opposed to digital money. A $5.00 bill is something others don't encounter and deal with daily in their lives.

To physically hand over money and see it vanish hurts. Because of this, using cash instead of a debit or credit card for purchases might result in significant savings because you're less willing to part with your money if it hurts.

Contrarily, using a credit or debit card feels less authentic than using cash because you aren't witnessing the disappearance of your actual bills. Because of this, it's very easy to idly swipe a credit card and forget you've even made a purchase.

Do you keep cash at home?

Reference
https://www.dhs.gov/prepare-my-family-disaster

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