Reply to How much “emergency “ cash do you keep on hand?

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[quote=Anonymous][quote=Anonymous][quote] I’m surprised more people are not aware of preparing for a possible emergency. I was a Girl Scout and an adult leader for many years, so it is second nature to me to plan to be prepared. [/quote]

This.

We're not talking about preparing for the apocalypse, so $10k+ is likely unnecessary (and also likely not covered by insurance in the event of a house fire/flood/etc.).  We're talking about survivng for a few days during a possible temporary interruption of banking services due to power or equipment failures, bank account compromise, banking errors, natural disasters, etc.  It is definitely a good idea to have enough cash for 3-5 days' worth of food, housing (hotel, etc.), clothing, and limited transportation for you and your family.  For most people, this is probably in the $1-5k range.

I don't understand people who don't carry cash.  If you prefer to pay by credit card (etc.) for regular transactions, that is fine, but not having any cash seems like a personal safety issue in the event of a mugging (etc.), and also a risk in the event of an interruption in payment systems.  Everyone should have $50-150 in cash at all times, in addition to whatever one would normally need for regular
spending.[/quote]

Tell that to young people.

My adult daughter will go on a road trip with $3. She sees no point to carrying cash.

It drives me crazy.[/quote]

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