We all know that cash is king, and having access to cash during times of emergency is crucial. Nowadays most people use and rely on some sort of plastic card for payments on their everyday purchases. While this is fine under normal circumstances, it may be useless during emergency and crisis situations. What will you do if you’re unable to access the money in your bank accounts for any reason? Having a stash of emergency cash is a common rule for any knowledgeable prepper.
Accidents and emergencies happen all the time. If the power or grid happens to go down during one of these events, you’re means of withdrawing cash from an ATM are now useless. Without power, everything that uses electricity or the internet will be down. If the power stays down for several days, you could find yourself with a serious problem. How will you purchase food, gasoline, or anything else that you may need to survive until the power returns? And if it’s TEOTWAWKI , you’ll likely lose and never have access to your banked savings ever again.
Emergency Cash – How can I save money for emergencies?
There are all sorts of ways to set aside a stash of emergency cash. One way is to set aside a small amount every week from your paycheck. Remember that this doesn’t have to be a huge amount. Even $5 or $10 a week will add up quickly. Another easy and less painful method is to save all your pocket change. Simply empty the change in your pocket or purse every day into a jar, and leave it alone. A trick that I like to use for maximizing this method is to not pay for anything with exact change. For example, if an item costs $1.25, I will pay with 2 Dollar bills and get $0.75 change. This change will go into my cash stash at the house. Once you get used to making purchases this way, it will become second nature, and your emergency cash will grow really fast. I was able to save almost $300 in only 2 months using this method. I recommend that once very month or two that you roll up your change and convert it into paper money. This not only makes hiding and counting your emergency cash stash easier, but it improves your moral and confidence to see the payoff in cold hard cash. Remember that this money is for real emergencies, and not to be spent on a new pair of shoes that you think you just can’t live without.
Emergency Cash – Where should I hide it?
When it comes to hiding money around the house, the skies the limit. Remember that it’s a lot easier to hide paper money than heavy jars of coins, so be sure to convert your rolled coins often. Use your imagination when choosing the right hiding space for your emergency cash. Think like a burglar, or thief. Where would crooks most likely look for valuables, and don’t hide them there. Below is a list of examples that might spur even more creative hiding spots for you.
* in a CD case
* in an old book
* in an envelope taped to the bottom of a shelf or drawer
* in a plastic bag placed inside a large flour or coffee jar
* in a fake soup can in the pantry
* in a plastic bagged taped to the inside of the toilet reservoir tank
* in the pocket of a particular shirt or jeans in your closet
* buried in an airtight jar in your backyard
* in an actual safe
* in the attic or basement
Remember that the above are just examples of places that might work well! The main goal is to start building up your emergency cash reserves today, and be prepared for what may be coming tomorrow! With the world around us getting more uncertain by the day, and severe weather becoming more commonplace, the chances of large grid and power failures is growing with every passing day. Don’t be caught empty handed or hungry when ” TSHTF “. Having emergency cash on hand is just one of the ways to help prepare you and your loved ones from being another statistic. You should also have emergency food, water, and supplies on hand as well. With today’s technology you can get just about everything you need to be prepared right from your computer, so take advantage of it now!
If you happen to find yourself in an emergency situation without cash, knowing how to barter might just save your life. Check out the article on emergency bartering on our Disaster Guides Page.