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Thread: Emergency Fund

  1. #11
    Just this guy Inor's Avatar
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    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...)

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  3. #12
    Daily Abuser SquirrelBait's Avatar
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    Quote Originally Posted by 1moretoy View Post
    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...
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    Daily Abuser SquirrelBait's Avatar
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    Quote Originally Posted by Inor View Post
    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?
    The squirrels are lurking... @ http://theoutdoortradingpost.com/

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    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.

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    Anti-social Behavior Slippy's Avatar
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    Quote Originally Posted by Inor View Post
    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.

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    Quote Originally Posted by ekim View Post
    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...
    The squirrels are lurking... @ http://theoutdoortradingpost.com/

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    Daily Abuser SquirrelBait's Avatar
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    Quote Originally Posted by slippy View Post
    the pre 1965 silver is probably one of the best ideas in addition to cash.
    this^^^
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  11. #18
    Just this guy Inor's Avatar
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    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.

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    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.

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    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?
    BAH FUCKING HUMBUG!

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