Emergency Fund

[SquirrelBait]

I have been reading about emergency funds for when Brown hits the blades. I decided to initiate a fund of $100 of each denomination in small bills.

Too much? Not enough?

BTW: I have been really good about not spending the $5 I have in there...

[1moretoy]

That's a tough question to answer since there are so many variables to consider. How many in your household would you be saving for, how long you are planning for, etc. Whatever your decision, make sure to invest in a fireproof safe and have it permanently mounted.

[HuntingHawk]

Having some cash on hand for emergencies is wise. I keep for fives in the vehicle just incase. Would get me enough gas for 100 miles.

My emergency money is basically my credit card though.

[Just Sayin']

It's a good idea to always have some emergency funds or cash money available. If the SHTF though and the event is long lived, paper money is probably going to have a limited shelf life. It's going to be a hard call on how long to try and keep the money before it's time to convert it to hard goods (silver, gold, bullets, flour, etc.). If you wait too long, the value of the paper money will be next to nothing. I'm personally not a big fan of gold or silver, I've got a little bit, but if things get that bad, I don't know what will be really valuable. I wouldn't go overboard on it, myself. A thousand dollars ought to be a fair target. It'll get your sister in law out of jail late at night when she gets a DUI here in Miss. lol

[Arklatex]

I have been reading about emergency funds for when Brown hits the blades. I decided to initiate a fund of $100 of each denomination in small bills.

Too much? Not enough?

BTW: I have been really good about not spending the $5 I have in there...

Excellent question squirrel. I'm thinking along the lines that we will have some notice before everything breaks down. Cash will be king in this transitional period. I'm betting that 1000 in small bills would be a good amount so you will be able to make change on last minute deals. This way you can stretch your funds out more strategically. More bang for your bucks. It sounds like a lot of money to po folks like us but it could make the difference between comfort and misery. JM2C

[Reptilicus]

I keep a fair amount of cash properly stored in a Mason jar or two or three which are then stored inside a sealed PVC tube which is then stored inside another sealed PVC tube underground! I'll give you a hint, it's in the pecan orchard out back (but it's a big orchard and has a brace of Rottweilers patrolling 24/7/365. Only the Mrs., me, and GOD now the exact locale. I know it's not drawing interest but it also isn't available for the "CLOWNS" in D.C. to grab so easily if they should so desire!

[SquirrelBait]

Excellent question squirrel. I'm thinking along the lines that we will have some notice before everything breaks down. Cash will be king in this transitional period. I'm betting that 1000 in small bills would be a good amount so you will be able to make change on last minute deals. This way you can stretch your funds out more strategically. More bang for your bucks. It sounds like a lot of money to po folks like us but it could make the difference between comfort and misery. JM2C

So, two fifty in each denomination should do it?

[SquirrelBait]

I keep a fair amount of cash properly stored in a Mason jar or two or three which are then stored inside a sealed PVC tube which is then stored inside another sealed PVC tube underground! I'll give you a hint, it's in the pecan orchard out back (but it's a big orchard and has a brace of Rottweilers patrolling 24/7/365. Only the Mrs., me, and GOD now the exact locale. I know it's not drawing interest but it also isn't available for the "CLOWNS" in D.C. to grab so easily if they should so desire!

Good to go! Rotties are not to be despised...

[Slippy]

I think you're on the right track SB. For all the stuff that I have done to be prepared, I really am lacking in carrying extra cash in my get home bag or around the house for that matter. I think this will motivate me to do so. Good thread SB, thanks.

[SquirrelBait]

I think you're on the right track SB. For all the stuff that I have done to be prepared, I really am lacking in carrying extra cash in my get home bag or around the house for that matter. I think this will motivate me to do so. Good thread SB, thanks.

It's been eating at me for a while now. As much as I despise the fiat, It's another tool in the box.

Thanks Slippy.

[Inor]

We used to keep between $1000 and $2000 in cash in a fire safe at home. The problem was, when one of our kids showed up having money trouble, it was too easy to reach into the box and "solve the problem". That just seemed to make the problems occur more frequently and more severely. Now, we keep a couple hundred on hand at all times, plus quite a bit of pre-1965 silver. But, to force Mrs Inor and me to say "no" to our kids more often, we have not kept much cash on hand for a while.

(I know it is the pussy's way out as I should just re-learn to be more of a hard ass to my kids. But...)

[SquirrelBait]

That's a tough question to answer since there are so many variables to consider. How many in your household would you be saving for, how long you are planning for, etc. Whatever your decision, make sure to invest in a fireproof safe and have it permanently mounted.

Wow! Good points for consideration.
There's me and the two mutts. I'm planning for as long as the fiat is acceptable as a means of exchange. After that it will likely be PMs. I have a fire prooff portable, Nothing mounted. I'm renting...

[SquirrelBait]

We used to keep between $1000 and $2000 in cash in a fire safe at home. The problem was, when one of our kids showed up having money trouble, it was too easy to reach into the box and "solve the problem". That just seemed to make the problems occur more frequently and more severely. Now, we keep a couple hundred on hand at all times, plus quite a bit of pre-1965 silver. But, to force Mrs Inor and me to say "no" to our kids more often, we have not kept much cash on hand for a while.

(I know it is the pussy's way out as I should just re-learn to be more of a hard ass to my kids. But...)

You're just being a good and helpful parent. The economy doesn't help matters does it?

[ekim]

I just tapped my emergency fund to get my heating/air conditioning duct work fixed. It sure made a difference in the cooling so far and hopefully the heating and in the end the power bill. I like to keep at least a couple grand in small bills on hand. If the shtf I'm hoping I have a small warning and the wife and I will hit the stores and buy up supplies to help for the mid term supply of our current stash.

[Slippy]

We used to keep between $1000 and $2000 in cash in a fire safe at home. The problem was, when one of our kids showed up having money trouble, it was too easy to reach into the box and "solve the problem". That just seemed to make the problems occur more frequently and more severely. Now, we keep a couple hundred on hand at all times, plus quite a bit of pre-1965 silver. But, to force Mrs Inor and me to say "no" to our kids more often, we have not kept much cash on hand for a while.

(I know it is the pussy's way out as I should just re-learn to be more of a hard ass to my kids. But...)

The pre 1965 silver is probably one of the best ideas in addition to cash.

[SquirrelBait]

I just tapped my emergency fund to get my heating/air conditioning duct work fixed. It sure made a difference in the cooling so far and hopefully the heating and in the end the power bill. I like to keep at least a couple grand in small bills on hand. If the shtf I'm hoping I have a small warning and the wife and I will hit the stores and buy up supplies to help for the mid term supply of our current stash.

This is another good example of reasons to stash an emergency fund. SHTF comes in all shapes and sizes...

[SquirrelBait]

the pre 1965 silver is probably one of the best ideas in addition to cash.

this^^^

[Inor]

When you need work done, being able to pay in green cash and not require a receipt does save you a TON of money! We just contracted a guy to put in a new cement driveway at our house. When we informed him that we would be paying in cash (and made the deposit in cash) he cut the price by over 15%! I saved even more than that when I had a well drilled and paid for that in cash. When they say cash is king, it is not a joke, especially if you are dealing with a small businessman and are up front about not requiring any records be kept. Plus it just makes me feel good to know that I am participating in one transaction that Uncle Sugar is not going to be able to extort.

[Imaexpat2]

I keep about a grand in 1's, 5's and 10's split between three different locations plus I normally pay cash for everything and have 3-6 hundred in cash in my wallet at any given time. Here my primary threat is a 3-10 day power outage a few times a year and usually fairly localized making credit cards and ATM cards useless often times. But the Gas Station or mini mart down the street often is quick to accept cash despite a power outage post haste when it occurs! Sometimes they have difficulty making change and small bills means I can say screw it keep the 59 cents change I have coming back to me, they usually remember that and throw me a bone later and discount something to make up for it. So what goes around comes back around often times.

[TJC44]

I'm working on building up a SHTF cash reserve. $1on 1st week of the year, $2 2nd week, & so on. After 6 months you're putting away $26/week . End of the year you have $1100 . Don't fall behind, catching up hurts.
I am interested in silver, where would I find it?

[SquirrelBait]

I'm working on building up a SHTF cash reserve. $1on 1st week of the year, $2 2nd week, & so on. After 6 months you're putting away $26/week . End of the year you have $1100 . Don't fall behind, catching up hurts.
I am interested in silver, where would I find it?

Coin shops, Pawn shops, Online. Careful about that last though...

[Montana Rancher]

I keep about a grand in 1's, 5's and 10's split between three different locations plus I normally pay cash for everything and have 3-6 hundred in cash in my wallet at any given time. Here my primary threat is a 3-10 day power outage a few times a year and usually fairly localized making credit cards and ATM cards useless often times. But the Gas Station or mini mart down the street often is quick to accept cash despite a power outage post haste when it occurs! Sometimes they have difficulty making change and small bills means I can say screw it keep the 59 cents change I have coming back to me, they usually remember that and throw me a bone later and discount something to make up for it. So what goes around comes back around often times.

The best plan I have read so far, the rule of thumb for wealth independence is to have 6 months of living expenses on hand. If you do not then cancel your cell phones, cable TV, and sell the 2nd car until you do.

Don't think you have nothing to spare or cannot save, usually in a 2 family home it is cheaper to keep a person home and watch the kids than have both parents working. If you add to that the money you make watching the neighbors kids you are twice blessed.

If you are a single parent it really holds true, just take 4-5 brats from the neighbors and you can make more than a $20 an hour job.

If you live in an area that $20 an hour doesn't cut it, then move.

[lopie]

I know some of the threads I'm bumping are old, but I'm new and just joining in :scooter:


Do y'all carry cash in your wallet? I do for two reasons (1) in case I need it at that moment, but also (2) if I have to bug-out with absolutely no time, I don't want to have to go to my safe.

This is the same for gold. If you agree that gold/silver could have a place in your preps, then maybe carry gold with you. I carry four 1/10 ounce canadian gold maples (0.9999). Obviously, trading gold for goods/services is no where near as easy as dollars, it's just a backup option and weighs almost nothing, well 4/10ths of an ounce.

If I find the right opportunity where someone recognizes gold and it's value, I might be able to trade each 1/10 ounce for upwards of $150 (in today's value) for goods/services.

[Sparkyprep]

I keep $100 cash folded, and tucked in my wallet just for emergencies. I also keep an emergency supply of cash, in small bills inside my home, in a secure location, just in case. However, 99% of my purchases are done with credit or debit cards.