Cash on hand

**Captain Waffles** · April 16th, 2024, 03:36 PM

Hello, I work in cybersecurity and also do quality assurance software engineering. I keep most of my money in my bank accounts, I have two primary banks, one traditional *brick and mortar* and one solely online. I do not recommend banking with Chime, their reputation is sketchy and they don*t have a national bank charter. I myself use SoFI for my online banking needs.

For my own peace of mind, I always keep an adequate amount of *cash on hand,* a little over $10k, in case something happens to the banking system or electrical grid. It*s enough to cover my bills for a few months, and I*d hope the banking system would be functioning again by that point. I don*t want to keep an enormous amount of cash in private storage, in case it gets lost, which is highly-unlikely but nonetheless. I also have a bit of gold and silver, about $25k. I have it secured my house with a tracker in the safe. It*s under camera surveillance that I can monitor on my phone or laptop, from anywhere.

I doubt any event would disrupt the normal functioning of the banking system for an extended period of time but you never know.

Stay safe out there.

**arjohnson** · April 16th, 2024, 03:41 PM

If it all crashes won*t matter, it will just be paper like a napkin.

**akley88** · April 16th, 2024, 03:49 PM

depending on what bills your talking about cash would be a mute point. regardless of it being legal tender there are many businesses that would not accept cash especially if there is banking system issue. Many bank's are heavily reliant on technology for everything at least based on what i dealt with when i was a auditor. they would lock down branches most likely cause they could not verify cash in accounts for deposits or withdraws and wouldn't want a risk a run on cash.

**father-of-five** · April 16th, 2024, 06:07 PM

I think there was a similar thread here in the recent past about cash possibly being usable in small denominations if there is a short term crisis, or a perceived short term crisis.

**free** · April 16th, 2024, 06:13 PM

Storm comes to town.

Power is out for a week.

I'd rather have cash on hand than not have cash on hand.

**JaySmith** · April 16th, 2024, 07:31 PM

i like to have cash on hand so if i want to buy something in evening or weekend I don't have to wait to go to the bank. I have bought cars, trucks, tractors, and tools this way.

**esh21167** · April 16th, 2024, 07:35 PM

Both opinions are true. Cash is good during short term disruptions. In the case of a major economic/bank collapse, toilet paper may be more valuable than paper money.

**free** · April 16th, 2024, 07:41 PM

Originally Posted by esh21167

Both opinions are true. Cash is good during short term disruptions. In the case of a major economic/bank collapse, toilet paper may be more valuable than paper money.

During any such major economic/bank collapse, what are the advantages of having your money in the bank, rather than cash on hand?

**Emptymag** · April 16th, 2024, 09:39 PM

Ten grand.

"I don*t want to keep an enormous amount of cash in private storage, in case it gets lost"

LOL! I wish I had your problems!

I could probably scrounge up $87 if I dug around a few minutes.
If I had a few days, I could probably roll about $200 in coins.

**free** · April 16th, 2024, 10:50 PM

Originally Posted by Emptymag

Ten grand.

"I don*t want to keep an enormous amount of cash in private storage, in case it gets lost"

LOL! I wish I had your problems!

I could probably scrounge up $87 if I dug around a few minutes.
If I had a few days, I could probably roll about $200 in coins.

Should keep a spare $100 in your phone case.

I had around $10K at home for a while. Slowly spent it down. Now I only have about $1000 US, around $300 Canadian, about 600 euros, and maybe 5000 rubles or so, about 1000 Mexican peso.