How much cash should you keep in your house for emergencies?

[Anonymous]

Anonymous wrote:This is an interesting cultural question for me. I'm a white dude and wouldn't care less about cash. My wife, asian heritage, thinks having cash in the house is essential. We, mid-40s, have a NW > 15mm. At my wife's doing, we usually have 2-4k cash (if not more) in the house at any given time.

Whenever we have anyone over doing work on/around the house, my wife always asks if there is a cash discount. She always suggests a 10-20% discount on quoted price for immediate cash payment. I'd guess her success rate is around 50%.

It is nice that for any babysitter or the like we always have cash.

What kind of cheapskate asks for a discount with a $15 million dollar yearly income. Our income is not in the millions or even close, I usually have over $10k in the house. When I go out I take some of it for the day. I never even thought to ask for a discount and I wouldn’t want to. They do the work, pay them what you owe. This isn’t an Asian country.

[Anonymous]

Anonymous wrote:This is DCUM….$100,000 minimum

Kinda surprised it's not more than that here.

People making $400k a year seems norm here, so keeping 100K on hand in cash at home and in a safety deposit box seems like it would be the norm.

Had an old old uncle on in-laws side who kept over 1 million in cash and gold in various locations after WWII, said he didn't trust banks after the Great Depression and FDR's shenanigans and thefts.

[Anonymous]

Anonymous wrote:This is an interesting cultural question for me. I'm a white dude and wouldn't care less about cash. My wife, asian heritage, thinks having cash in the house is essential. We, mid-40s, have a NW > 15mm. At my wife's doing, we usually have 2-4k cash (if not more) in the house at any given time.

Whenever we have anyone over doing work on/around the house, my wife always asks if there is a cash discount. She always suggests a 10-20% discount on quoted price for immediate cash payment. I'd guess her success rate is around 50%.

It is nice that for any babysitter or the like we always have cash.

Maybe I am missing something…why would say a plumber accept a cash discount vs a check. They are worried it would bounce?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is an interesting cultural question for me. I'm a white dude and wouldn't care less about cash. My wife, asian heritage, thinks having cash in the house is essential. We, mid-40s, have a NW > 15mm. At my wife's doing, we usually have 2-4k cash (if not more) in the house at any given time.

Whenever we have anyone over doing work on/around the house, my wife always asks if there is a cash discount. She always suggests a 10-20% discount on quoted price for immediate cash payment. I'd guess her success rate is around 50%.

It is nice that for any babysitter or the like we always have cash.

Maybe I am missing something…why would say a plumber accept a cash discount vs a check. They are worried it would bounce?

People who prefer cash sometimes do so because they are going to cheat on their taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is an interesting cultural question for me. I'm a white dude and wouldn't care less about cash. My wife, asian heritage, thinks having cash in the house is essential. We, mid-40s, have a NW > 15mm. At my wife's doing, we usually have 2-4k cash (if not more) in the house at any given time.

Whenever we have anyone over doing work on/around the house, my wife always asks if there is a cash discount. She always suggests a 10-20% discount on quoted price for immediate cash payment. I'd guess her success rate is around 50%.

It is nice that for any babysitter or the like we always have cash.

Maybe I am missing something…why would say a plumber accept a cash discount vs a check. They are worried it would bounce?

People who prefer cash sometimes do so because they are going to cheat on their taxes.

And the person who offers cash knows that and wants a discount for her part in helping the tax cheat.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I was at KPMG in August 2023 when NYC blackout happened. right in middle of a heat wave. Subway down, ATMS down, huge heatwave and no credit card machine working.

I recall the Partner had around $3,000 bucks on him. He put a few people in Cabs paid cash, he even rented a Hertz car cash as we had an account but he had to do it in cash, none of staff had much cash on him. After he got all his people gone he casually walked over to the Midtown in his suit with briefcase and there was a line of cars very slowly trying to get in tunnel. He just said anyone going to Garden City some guy in a BMW and a suit goes yea why, he goes I will give you $100 bucks to drop me off my house. guy goes sure.

My sister slept on the front steps of her office building in 90 degree heat after building tossed them out at midnight due to it got too hot in building and windows dont open. Her husband with traffic and cell phones not working did not get connected to her till 5 am and got her. But hey she does not carry cash.

I don’t understand this at all. Cabs, sure, but how could Hertz rent a car with cash? At most, you could maybe bribe an employee who agreed to give you the car and do the paperwork (which is all computer) later. But nobody did a legitimate cash, powerless transaction with Hertz in 2023.

I think 2023 is a typo and they meant 2003.

I am a PP who keeps a few thousand in cash at home but the world 22 years ago cash was still king in a way that it clearly isn't today.

[Anonymous]

I keep about 2k at home and 15-20k in a safe deposit box

I'm 53

Cash is never a bad idea. I live in a state where we can lose power for a few days or even weeks. And, I don't trust Trump.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is an interesting cultural question for me. I'm a white dude and wouldn't care less about cash. My wife, asian heritage, thinks having cash in the house is essential. We, mid-40s, have a NW > 15mm. At my wife's doing, we usually have 2-4k cash (if not more) in the house at any given time.

Whenever we have anyone over doing work on/around the house, my wife always asks if there is a cash discount. She always suggests a 10-20% discount on quoted price for immediate cash payment. I'd guess her success rate is around 50%.

It is nice that for any babysitter or the like we always have cash.

Maybe I am missing something…why would say a plumber accept a cash discount vs a check. They are worried it would bounce?

People who prefer cash sometimes do so because they are going to cheat on their taxes.

And the person who offers cash knows that and wants a discount for her part in helping the tax cheat.

Exactly.

[Anonymous]

Anonymous wrote:
I keep about 2k at home and 15-20k in a safe deposit box

I'm 53

Cash is never a bad idea. I live in a state where we can lose power for a few days or even weeks. And, I don't trust Trump.

Fyi, cash in safety deposit boxes is not FDIC-insured, and banks usually advise against placing money in them.

Even in a large city, they were frequently inaccessible, too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is an interesting cultural question for me. I'm a white dude and wouldn't care less about cash. My wife, asian heritage, thinks having cash in the house is essential. We, mid-40s, have a NW > 15mm. At my wife's doing, we usually have 2-4k cash (if not more) in the house at any given time.

Whenever we have anyone over doing work on/around the house, my wife always asks if there is a cash discount. She always suggests a 10-20% discount on quoted price for immediate cash payment. I'd guess her success rate is around 50%.

It is nice that for any babysitter or the like we always have cash.

Maybe I am missing something…why would say a plumber accept a cash discount vs a check. They are worried it would bounce?

Are you for real? Taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
I keep about 2k at home and 15-20k in a safe deposit box

I'm 53

Cash is never a bad idea. I live in a state where we can lose power for a few days or even weeks. And, I don't trust Trump.

Fyi, cash in safety deposit boxes is not FDIC-insured, and banks usually advise against placing money in them.

Even in a large city, they were frequently inaccessible, too.

This. Also, the government can take cash, gold, etc. from your boxes anytime they want. Fill it with monopoly money and painted lead bars instead as a decoy.

[Anonymous]

Cash will be worthless
Trumps crypto says so

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is an interesting cultural question for me. I'm a white dude and wouldn't care less about cash. My wife, asian heritage, thinks having cash in the house is essential. We, mid-40s, have a NW > 15mm. At my wife's doing, we usually have 2-4k cash (if not more) in the house at any given time.

Whenever we have anyone over doing work on/around the house, my wife always asks if there is a cash discount. She always suggests a 10-20% discount on quoted price for immediate cash payment. I'd guess her success rate is around 50%.

It is nice that for any babysitter or the like we always have cash.

Maybe I am missing something…why would say a plumber accept a cash discount vs a check. They are worried it would bounce?

People who prefer cash sometimes do so because they are going to cheat on their taxes.

And the person who offers cash knows that and wants a discount for her part in helping the tax cheat.

That's why government wants to go cashless, so they can monitor every transaction.

Is why prosititution is still illegal, since it's a cash only business for the most part due to the desire of anonymity.