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Message
re: Physical cash on hand
Posted on 7/2/23 at 11:14 am to El Segundo Guy
Posted on 7/2/23 at 11:14 am to El Segundo Guy
quote:
I get that but this is just emergency money.
What kindof emergency? Like I need to run from the cops emergency or something?
0
Posted on 7/2/23 at 11:21 am to El Segundo Guy
As has already been posted, unless you’re a crime lord that might need to bug out at a moment’s notice, in any situation in which you would need instant access to $50k cash and can’t do so via normal means, no one wants your $50k of paper currency, as it will likely be worthless within weeks.
This post was edited on 7/2/23 at 9:15 pm
Posted on 7/2/23 at 11:26 am to Joshjrn
In a general societal breakdown type of scenario I'd think guns, ammo, water and food would be most valuable. Maybe even some silver and gold.
I keep $200-300 in my safe in cash but that's more for hurricanes than anything
I keep $200-300 in my safe in cash but that's more for hurricanes than anything
Posted on 7/2/23 at 11:28 am to El Segundo Guy
I think you should quadruple the amount, actually more if you can. Something bad is coming and you’re gonna need it to survive. Very smart
Posted on 7/2/23 at 11:40 am to fallguy_1978
quote:
In a general societal breakdown type of scenario I'd think guns, ammo, water and food would be most valuable. Maybe even some silver and gold.
Guns to an extent, but as a societal good, guns are probably overstocked to the point that they wouldn’t be hard to come by. Each person only needs a couple, and keeping a known stockpile would make you an target. The smart play would be to use them to arm your friends and family (creating a group is task #1 in SHTF), not to use them in trade. Ammo is vastly under stocked in a SHTF scenario. Food, water, medicine would obviously be huge. A bit more under the radar, but I read an article years ago from a survivor in I believe Bosnia that said that disposable cigarette lighters were extremely valuable as trade items because they are small, non perishable, relatively inexpensive, and extremely useful. Basically the non lethal top tier trade equivalent of ammo.
Posted on 7/2/23 at 11:43 am to Joshjrn
I'm guessing in a total SHTF scenario that cash will be relatively worthless. I see no reason to keep a ton of it on hand other than for prolonged power/communication outages.
Posted on 7/2/23 at 11:45 am to El Segundo Guy
I keep $100-200 total in a few spots. A little cash in each car, another $100 in closet for just in case
Posted on 7/2/23 at 11:53 am to fallguy_1978
quote:
I'm guessing in a total SHTF scenario that cash will be relatively worthless. I see no reason to keep a ton of it on hand other than for prolonged power/communication outages.
My best guess is that in SHTF, cash will have normal value until people realize that the shite has truly hit the fan. The type of situation would dictate how long that would take. Then inflation skyrockets instantly, and exponentially, driven by people panic buying and a small subset of the population banking on the SHTF scenario being short lived and us returning to the previous status quo relatively soon. If SHTF persists longer than a week or two, cash becomes more valuable as fuel for fire than it is a medium of trade.
Posted on 7/2/23 at 12:01 pm to Upperdecker
quote:
I keep $100-200 total in a few spots.
Emergency pizza order or something?
Posted on 7/2/23 at 12:33 pm to I Love Bama
I keep a few hundred bucks on hand to pay my lawn guys and maid.
Posted on 7/2/23 at 12:49 pm to lynxcat
quote:
I keep a few hundred bucks on hand to pay my lawn guys and maid.
Credit card via emailed invoice to the former and Zelle to the latter for me. Ain’t nobody got time for that
Posted on 7/2/23 at 12:57 pm to El Segundo Guy
I’ll keep $2k in cash in my safe, and that’s mainly just for hurricanes so I have cash to go to.
Posted on 7/2/23 at 1:10 pm to Joshjrn
It’s the only expenses I don’t have automated Agree that it could be much more efficient…but I definitely think we are getting a cash discount since their rates are the best in our neighborhood
Agree that it could be much more efficient…but I definitely think we are getting a cash discount since their rates are the best in our neighborhood Posted on 7/2/23 at 1:10 pm to El Segundo Guy
I did something similar at the start of Covid. Regardless of one's beliefs about Covid, there was uncertainty in the world about what could happen. I don't have as much locked away now but still carry a fair amount in a couple of banks, Most of the experts in this thread likely don't have much money. And truthfully, I might have had similar responses as some of the posters in my earlier years. Everything is relative to your current situation as to what is best for you.
Posted on 7/2/23 at 1:30 pm to KWL85
quote:
I did something similar at the start of Covid. Regardless of one's beliefs about Covid, there was uncertainty in the world about what could happen. I don't have as much locked away now but still carry a fair amount in a couple of banks, Most of the experts in this thread likely don't have much money. And truthfully, I might have had similar responses as some of the posters in my earlier years. Everything is relative to your current situation as to what is best for you.
I would love to hear this expounded upon in detail.
Posted on 7/2/23 at 1:41 pm to KWL85
quote:
I did something similar at the start of Covid. Regardless of one's beliefs about Covid, there was uncertainty in the world about what could happen. I don't have as much locked away now but still carry a fair amount in a couple of banks, Most of the experts in this thread likely don't have much money. And truthfully, I might have had similar responses as some of the posters in my earlier years. Everything is relative to your current situation as to what is best for you.
I keep way too much in checking and savings. Only have about 1k in safe but normally have around 5k.
Been saying I’m gonna move into a high yield savings but never end up doing it.
Posted on 7/2/23 at 1:44 pm to El Segundo Guy
Given that I work for a Colombia drug lord, $23,000,000 in duffel bags in my attic . He’s never sent me 1099 for some reason 
Posted on 7/2/23 at 1:47 pm to BabyTac
I would keep 10k in safe, put the other 40k in capital one 360 savings and get 4.15% back on it.
Posted on 7/2/23 at 2:55 pm to Joshjrn
quote:
Ammo is vastly under stocked
This. Properly stored, it doesn't go bad, and I've never seen mainstay rounds decrease in price over the last 15 years. Easy to trade.
Posted on 7/2/23 at 3:48 pm to Mariner
If shite really hits the fans then currency, BTC and gold might be useless.
I remember an old article that said to stash cases of Ivory soap, since it doesn't go bad and always has value.
Seems more logical than stashing $50K in bills.
I remember an old article that said to stash cases of Ivory soap, since it doesn't go bad and always has value.
Seems more logical than stashing $50K in bills.
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