Change in at-home cash reserve?

[Payin-the-Toll]

Keep $200 in twenties in an envelope in the bills holder. Daughter and son-in-law have visited (they are cashless types) and have needed cash to go out to bars, etc., so they'll write us a check for $100. Worked retail liquor store for 16 years, and collected anything that looked old. Have a big jar of old nickels (that I've never sorted through), probably $25 in pennies (loose and some are rolls of all 1943 zinc's), and a jar with about 100 Susan B. Anthony's, Eisenhower's, and Kennedy halves. Also have an 800 lb. safe (that my boss didn't want anymore-unfortunately 95% concrete with a 2 gallon storage capacity) in the garage with a big bag of odd-ball silver coins I've collected over the years, and some coin collections that came out of my father's estate, wills, passports, etc. Off topic question to people that use credit cards for every purchase--do you go through the statement every month and verify every transaction or just trust that all the purchases are yours? How would you be able to remember if the purchases are yours with transactions over 200+?

 

[W2R]

Off topic question to people that use credit cards for every purchase--do you go through the statement every month and verify every transaction or just trust that all the purchases are yours? How would you be able to remember if the purchases are yours with transactions over 200+?

I don't use credit cards for every purchase (don't even have one), but I'd think that they would have to look at their credit card purchases online every day, just as I do with my debit card purchases.

Over 200+ transactions/month would average around 7/day, a pretty high number for many of us. Still, even if someone had 7 transactions per day, it's easy to remember what you spend each day if you check the account online each day.

 

[ziggy29]

Maybe I have an over-active imagination, but if our current economy should go to a possible conclusion of collapse, won't my bank account, money markets, and ATM machines be worthless. I wonder if it wouldn't be prudent to have maybe $10,000 in cash for buying neccesities when the system is totally gone.

Why would cash have any value in a Mad Max scenario? I'd think you would want it to be in gold or something.

 

[jdw_fire]

I don't use credit cards for every purchase (don't even have one), but I'd think that they would have to look at their credit card purchases online every day, just as I do with my debit card purchases.

Over 200+ transactions/month would average around 7/day, a pretty high number for many of us. Still, even if someone had 7 transactions per day, it's easy to remember what you spend each day if you check the account online each day.

i use a credit card (i get 2% cash back on all purchases) when/where ever i can (i even charge a couple of utility bills) but i dont come close to 200 transactions a month. i look at all the charges on my statement and if i dont remember what 1 is for i call the CC co and let them remind me what the charge was for.

 

[Bikerdude]

The only assets I keep at home are my I-Bonds, a bag of silver coins, a couple of gold coins and a few diamond rings. I keep $50 to $100 in my wallet.

 

[JOHNNIE36]

question to people that use credit cards for every purchase--do you go through the statement every month and verify every transaction or just trust that all the purchases are yours? How would you be able to remember if the purchases are yours with transactions over 200+?

Look at them every couple days, both on-line banking (debit card transactions) and credit cards (Master card and AMEX). I use AMEX for most purchases over $25 and any gasoline (5% cash back). Also, AMEX gives extended warranties on purchases like electronics and appliances. They are great if you have a dispute with the merchant. Master card says purchase disputes are between me and the merchant and have never sided with me on a dispute; however, they were good with me on a stolen identity purchase of $3000. I just like a paperwork trail and quarterly, AMEX sends me a recap showing me where all the money went. Also, I look at the store receipt before I walk out the door. You'd be surprised at the errors made by electronic scanners. If you buy something on sale, many times the sale price didn't get into the computer. At Publix Supermarket, if an item is scanned wrong, you keep the item and they refund you the purchase price. They used to give you $5 back but I guess there were so many errors they changed the policy. Same at WalMart. Now they just refund you the difference. Too many errors were costing them a lot. Just look at you receipt before you leave.

 

[LOL!]

... Daughter and son-in-law have visited (they are cashless types) and have needed cash to go out to bars, etc., so they'll write us a check for $100. ....

Every bar I've been to has let me run a tab on a credit card.

Off topic question to people that use credit cards for every purchase--do you go through the statement every month and verify every transaction or just trust that all the purchases are yours? How would you be able to remember if the purchases are yours with transactions over 200+?

It's trivial because (a) the transactions are not 200+, usually around 50 and (b) they are the same ol' ones every month. Furthermore, I use specific cards to get the most cash back. For example, there is one card for groceries and gas. If I see a charge not for groceries and gas on that card, I ask my spouse about it. So it takes at most 3 seconds to check the statement.

 

[freebird5825]

My EE bonds, winter power out emergency cash $500, summer cash stash $200, several coin filled bottles, less than $100 in purse.

 

[tuixiu]

we used ATM cards to a fault. We had little money to begin with and those fees added up.

What fees? Can't you use the ATM from your bank for no fee, or use a CU or USAA type thing where they reimburse you for any foreign ATM fees?

 

[shoe]

What fees? Can't you use the ATM from your bank for no fee, or use a CU or USAA type thing where they reimburse you for any foreign ATM fees?

25 years ago our credit union had no ATM and very limited hours which didn't jive with ours. So anytime (which was all the time) we used an ATM it cost $1.50. He made $700 a month as a public school teacher in those days and our house payment was $344. The fees added up so we went cash only and have stayed that way. Not even tempted to do the ATM thing!

 

[tuixiu]

Ahh gotcha. I wasn't old enough to be dealing with banks back then so had no frame of reference, in my narrow little world of experience ATMs are plentiful and free if you go to the correct color.

Probably better for you anyway one often reads that strictly cash people spend less on crap than the rest of us.

 

[thefed]

Nuts.

If you knew how I earned it, you'd know it wouldnt have been wise to put it in the bank at the time! Good thing it was where it is still...I needed cash once when my assets were temporarily frozen.

 

[harley]

I keep a few hundred around, plus my change collection is probably at least that much since I haven't rolled it up in years. We have a safe (unbolted, 150 lbs.), but I'd like to have a less obvious stash.

Just last night I was reading about building secret compartments, mostly for fun in my woodworking life, but also thinking about hiding a few things like more cash, old gold jewelry, a gun, whatever (wink wink, nudge nudge). I found a couple that look like easy fun. I especially like the one hidden in the wall. I wish I'd read this one before the house was finished.

Cheap secret compartment!
Building a secret compartment - DIY Chatroom - DIY Home Improvement Forum

I also like the like the comment about drywalling the gun directly into the wall, and just punching through and grabbing it if you need it.

When I get into more serious furniture building I'm going to try some fancier secret compartment building. But for now I think I'll give that bookshelf box a try.

 

[shoe]

Interesting links Harley! I like the phony cold air return idea. A while ago in Mother Earth News there was an article about this very thing. They suggested hiding valuables underground in capped pvc tubes.

 

[thefed]

those hidden spots got me thinking!!! it seems like something fun to do. I actually had my stash drywalled in the ceiling...no way out but to smash the drywall or rip out the floor above....that box was one of the few valuable things left when 'they' went trhu my house for 8 hrs

 

[harley]

I guess the dogs couldn't reach up that high.

Yeah, I'm into the hidden compartments mostly for the fun of it. Leftover from my D&D days. I long ago recognized that even if the cops would miss any hidden stashes, DW would find it (and that, believe me, is even worse!).