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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-13-2007, 07:06 PM   #61
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Re: How much cash (actual greenbacks) do you keep on hand and why?

I think, at least for me, some of this may be genetic.

I don't think I've ever had a conversation with my mother about money/finances/budgeting. My father handles all that for the 2 of them. I handle all of it for my husband and I. But a few years ago my Mom was going into the hospital and told my Dad that he should know that she has some cash that she keeps in the apartment, "just in case". He asked her how much and it's the same amount that I keep - $350.

Spooky.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-13-2007, 08:57 PM   #62
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Re: How much cash (actual greenbacks) do you keep on hand and why?

My cash position (in money market) is almost 30% because the yield is still quite attractive relative to that of a typical bond fund.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-13-2007, 11:24 PM   #63
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Re: How much cash (actual greenbacks) do you keep on hand and why?

We pull out $1000 cash out on the first of every month. Most of it is gone by the 30th. except our beer bottle funds. We save for things like tires in beer bottles.

At any given point of time we have between $2k and $1k at home.

having pure cash, makes be feel safe. Oh and I keep $200 in the ash tray of my truck for gas money.

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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-14-2007, 10:11 PM   #64
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Re: How much cash (actual greenbacks) do you keep on hand and why?

I have a friend, who a number of years ago was on a bus (in Los Angeles). Some guy (s)? robbed the passengers. My friend had about 80 cents on him. The robber was really angry with him and my friend thought that he might get himself shot. Now, my friend always carries at least $200 with him. Doesn't want to annoy a bad guy and he figures $200 is a great deal not to be hurt or dead.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-15-2007, 07:41 AM   #65
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Here's a case that probably won't be all that useful to most here, but...

When I lived in Saudi, before about 1997 or so, it was almost impossible to use credit cards, and checks could only be cashed at a facility that the oil company maintained on company grounds just for that purpose. I forget the exact amount, but to cash a check for more than whatever the company had deemed a reasonable amount required that your check be endorsed by your department manager.

ALL purchases were cash in those days, so buying a TV or a plane ticket meant getting the boss's boss's boss to approve your check so you could get a grocery bag full of cash to take to town for the purchase. (Felt very odd the first few times you did that!)

Even for lesser checks, the lines at the cashier counter were horrible most of the time, making cashing checks a real pain.

So I accumulated and kept cash in a safe. The total I kept on hand was around six week's normal cash spending, which I'd replenish through the tactic of cashing occasional smaller checks when the lines happened to be short when I walked by the check-cashing facility (which was next to the mail room).

In addition, I (and I suspect most of the other expats) kept enough cash on hand to take an emergency trip if necessary. For "routine" emergencies such as a dying relative back in the US, needing to get the cash through the normal process would delay things a day at best, since all flights left there during the 11pm - 3am timeframe, so if you didn't get the word before the 4pm closing time (which was around 8am in the USA), you were out of luck until the next day.

In an evacuation, those with cash could get out on the first flights, while everyone else was awaiting other arrangements or trying to fight the lines at the check cashing facility.

ATMs started showing up around 1997-1998, making part of the problem much easier, but the daily limits were low, something like $200 - $300, so cash-on-hand remained a standard practice.


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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-15-2007, 09:48 AM   #66
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Re: How much cash (actual greenbacks) do you keep on hand and why?

I started keeping cash around the house after a co-worker told me about his experiences just after the earthquake in California in 1989.

He lived near the epicenter and the town where he lived was cut off for a short time. Roads were closed, electricity was out so no ATMs or stores could process transactions. He had to buy water to drink and fresh food, etc and the stores only took cash. He didn't have much cash on hi, and he told me that he would always keep a couple hundred in small bills from then on, seemed like a good idea to me.

I've tapped my stash a couple of times when I needed money quickly...more than the ATM would give me that day.....buying a car for my son, loaning the other son money to fix his...stuff like that. Mostly convenience, not necessity.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-15-2007, 02:59 PM   #67
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Remember the northeast blackout in summer 2003? All atm and credit card machines were out - only people with cash could get hotel rooms, taxis, etc. People were camping outside of Grand Central Terminal because they had no cash... I keep about 1K around for just such an occasion.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-15-2007, 03:31 PM   #68
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Re: How much cash (actual greenbacks) do you keep on hand and why?

$50....$40 in the main part of my wallet and $10 stashed away to be used only in emergencies. When my $40 main $ gets down to a few bucks, I hit the ATM again for another $40. I use so little cash that I generally only hit the ATM every couple of months.

I'm sure that I will respond to this Q in a few years like this:"What is this cash that you write about?"
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-15-2007, 05:13 PM   #69
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Quote:
Originally Posted by Sparky
Remember the northeast blackout in summer 2003? All atm and credit card machines were out - only people with cash could get hotel rooms, taxis, etc. People were camping outside of Grand Central Terminal because they had no cash... I keep about 1K around for just such an occasion.
How about keeping cash in the safety deposit box?
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-15-2007, 06:22 PM   #70
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Quote:
Originally Posted by Sparky
Remember the northeast blackout in summer 2003? All atm and credit card machines were out - only people with cash could get hotel rooms, taxis, etc.
That's why I refuse to work more than a couple miles from my home.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-15-2007, 11:01 PM   #71
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Re: How much cash (actual greenbacks) do you keep on hand and why?

I USED to keep about 10k-15k around the house in a safe. I now keep maybe 400 or so on hand....and the rest is invested.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 12:25 AM   #72
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Usually anywhere from $50 to $200 depending on how long it has been since I have been to an ATM. My last visit to the ATM was in January. I use debit or credit card for virtually all purchases. Spouse generally keeps a bit more $100-$250. I have never had an occasion to ever need significant amounts of cash on hand.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 04:40 AM   #73
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Re: How much cash (actual greenbacks) do you keep on hand and why?

we bumped it up to about 1,000 or so. after 9/11 here in new york most atm links were down and even a few banks were un-able to open for a day or so. not that a day is bad but it shows you that your money may not always be avail the second you want it.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 06:47 AM   #74
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Quote:
Originally Posted by bbuzzard
I have a 800 pound gun safe/fire safe bolted to the monolithic reinforced concrete slab-on-grade foundation with four 5/8" anchor bolts (on the interior) with a total tensile strength of about 30,000 pounds. I am not too worried.

OTOH, it would take about 60 seconds to cut a 18" diameter hole in the door with an acetylene torch. Hopefully the ammo and black powder would go off at some point in the process and kill everyone involved . Anyway, If they want it, you can't stop them.
BB, that's how I feel. My guns safe weights about 600 pounds empty. I have about 4,000 rounds of ammunition on the floor of it which easily adds a couple hundred more pounds. On top of that, it is bolted to the foundation walls and the floor. Anybody who manages to move it up the stairs of my basement deserves to have my gun collection.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 07:38 AM   #75
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Re: How much cash (actual greenbacks) do you keep on hand and why?

However much is in the Monopoly game...
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 10:45 AM   #76
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Usually $5 or less in my wallet, and have about $50 in bills in a drawer for those last minute small cost needs. I also shamelessly borrow cash from the kids if needed - they each keep about $40. (I repay promptly) My DH is the one who regularly stops to get cash from the ATM, usually $40 at a time.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 06:54 PM   #77
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Re: How much cash (actual greenbacks) do you keep on hand and why?

This thread has got me thinking... (look out! LOL)

Every time I get cash from an ATM, I pay fees. They add up.

If instead of five $200 ATM withdrawals, I go INSIDE the bank and withdraw $1000 and hide it at home, I would save probably $10 or so (give or take a few bucks.. I don't know the exact amount).

Going inside the bank is not THAT inconvenient compared with driving through an aggravating ATM line five times. Actually it's probably easier. I live alone, so nobody is going to get into my "stash". Every $10 I save in ATM fees gets me that much closer to ER.

"I shoulda had a V-8!!!" Thanks, guys.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 07:21 PM   #78
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Quote:
Originally Posted by Want2retire
This thread has got me thinking... (look out! LOL)

Every time I get cash from an ATM, I pay fees. They add up.

If instead of five $200 ATM withdrawals, I go INSIDE the bank and withdraw $1000 and hide it at home, I would save probably $10 or so (give or take a few bucks.. I don't know the exact amount).

Going inside the bank is not THAT inconvenient compared with driving through an aggravating ATM line five times. Actually it's probably easier. I live alone, so nobody is going to get into my "stash". Every $10 I save in ATM fees gets me that much closer to ER.

"I shoulda had a V-8!!!" Thanks, guys.
As a result of this thread I am spurred to keep a little more cash around the house.

I get almost all my cash using the debit card at the grocery.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 11:01 PM   #79
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Re: How much cash (actual greenbacks) do you keep on hand and why?

Quote:
Quote:
Every time I get cash from an ATM, I pay fees. They add up.
Why not use a bank or atm that does charge a fee for atm withdrawals. If you have a debit card, you could just get cash back from places like wal-mart when you buy something.
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Re: How much cash (actual greenbacks) do you keep on hand and why?
Old 04-16-2007, 11:55 PM   #80
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Re: How much cash (actual greenbacks) do you keep on hand and why?

i usually have between $75 & 100 on me because the supermarket only lets me put $75 on debit card with purchase but the healthfood store lets me take $100. if it looks like we might get hit with a hurricane i might have as much as $200 on me though i've never needed even that much cash.
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