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Old 07-15-2008, 07:05 PM   #21
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Old 07-15-2008, 07:23 PM   #22
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1. Being that I live in Fort Lauderdale(hurricane alley), I keep about a $1000 or so at home.

2. I have CD's with less then $100,000. each in different banks(as it should be).
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Old 07-15-2008, 07:40 PM   #23
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I had $800 until last week when I took it all and deposited it. I heard stories of runs on ATMs and gas stations that couldn't take ATM/credit cards due to commo issues during hurricane evacuations. As a result, lots of people ran out of gas and couldn't evacuate.

I want to be sure I can evacuate/leave, for whatever reason, and have enough cash to get far enough away if needed.

I started stockpiling again, DW found a $100 bill from a few Christmases ago in an old card (pack rat!).

Only bank account I have over 100K in is my TSP. I'm not quite sure what it is, but IRAs have 250K protection limits so hopefully the TSP does too.
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Old 07-15-2008, 09:30 PM   #24
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Just hit the ATM at our local Bank 55 miles away. Usually keep $200-300 around in the safe and spend it $40.00 into the wallet at a time. Once the stash is below $40.00 back to the ATM. Also write down date and amount removed on a piece of paper in the envelope containing the money to track spending. Like: 7-15- 08 -40 160 remaining. Meaning I took $40 from the envelope and put it in my wallet on 7-15-08. Make an ATM withdrawal 2-3 time per year.

Kinda like Dave Ramsey envelope money system but only for my cash needs.
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Old 07-15-2008, 11:17 PM   #25
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Old 07-16-2008, 05:43 AM   #26
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I enjoyed reading everyone else's responses too much not to share the norm over here in my neck of the woods (the land that CCs forgot):

-I keep up to $1000 in US100s in my wallet or at home at any one time. Entirely depends what's going on that month and how long its been since I went to the bank.
-My hubby often gets cash advances from work of say $800 US equivalent in local currency (biggest local bill is ~$5, and sometimes he doesn't get the biggest!).
-When work needed to pay villagers for land clearance, the team headed outta the office with $16,000 in local equivalent in their backpacks

Usually everything is good. Robbery is rare, but it does happen: team's driver is a pretty solid local middle class rice farmer with the driving job plus a family rental car/tourist business (minivan + driver for rent). He and his wife were both away from home one night and the house was robbed--they lost $10,000 in gold and $4000 in cash. He took one day off work to talk to the police and then showed up like nothing happened. Life savings. Gone. We have now opened him a bank account, but...

Puts CNN's rush to make us lose sleep over Indymac in perspective!

So would you say American's don't keep cash in the house because it's:
a) not earning interest
b) not safe
c) not needed?
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Old 07-16-2008, 06:57 AM   #27
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Anywhere from $10 to $500. Last time I filled the truck it was $85 and I like to pay cash for that. CC debt always feels like a dark cloud hanging overhead so I track it closely and avoid it when possible, but it is impractical to avoid entirely.

Usually only hit the ATM about 3 times a month to "fill up" with cash.
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Old 07-16-2008, 08:03 AM   #28
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Originally Posted by thaidyed View Post
I enjoyed reading everyone else's responses too much not to share the norm over here in my neck of the woods (the land that CCs forgot):

-I keep up to $1000 in US100s in my wallet or at home at any one time. Entirely depends what's going on that month and how long its been since I went to the bank.
-My hubby often gets cash advances from work of say $800 US equivalent in local currency (biggest local bill is ~$5, and sometimes he doesn't get the biggest!).
-When work needed to pay villagers for land clearance, the team headed outta the office with $16,000 in local equivalent in their backpacks

Usually everything is good. Robbery is rare, but it does happen: team's driver is a pretty solid local middle class rice farmer with the driving job plus a family rental car/tourist business (minivan + driver for rent). He and his wife were both away from home one night and the house was robbed--they lost $10,000 in gold and $4000 in cash. He took one day off work to talk to the police and then showed up like nothing happened. Life savings. Gone. We have now opened him a bank account, but...

Puts CNN's rush to make us lose sleep over Indymac in perspective!

So would you say American's don't keep cash in the house because it's:
a) not earning interest
b) not safe
c) not needed?
Wow, I wonder what CNN/CNBC would say if they had a Laos edition of nighttime news, can't imagine that. But, to answer your question, I think not earning interest is the most reason. I don't think safety is too big of an issue, because if it were, you probably wouldn't want to live there in the first place. Not needing to hold cash goes hand in hand with not earning interest, which is what facilitates the interest earned on the money in the bank.
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Old 07-16-2008, 08:06 AM   #29
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Probably $300-$600 cash at home at any time - evacuation gas money. I also serve as DH's ATM - he does not plan for cash until he is heading out of town. Additionally - years ago when funds were tight it became apparent he would pull out cash not telling me - making the check book register useless and the arrival of a bank statement something to dread. I confiscated his ATM card 20 years ago - now trustworthy (He is converted to LBYM ) he prefers me to the ATM . I also have him carry $200 cash - to get him out of town ASAP if needed . (On 9/11 they evacuated his office building - it was a reported high risk target)

On my person I have always carried an "emergency $20 " and taught the children to do the same . It can come in very handy. In the last year I upped minimum cash on my person to $70 . After my car decided not to run one day, I discovered some tow trucks only take cash. (after waiting 2 hours for a tow ) Luckily, I was caring sufficient cash that day to cover it !

Cd's - at least a year's comfortable expenses - maturing in 6 month or less intervals . I also adjust CD/ money market cash upward when we are getting ready to buy a new car or are looking at other large purchases on the horizon . (Like when DD was dating a guy for over a year and they were graduating college) He got nervous and said he could not make promises - she refused to compromise her carrier options for the privilege of "living together " and I've currently got a lump of cash I need to do something else with . (Just the Mom in me venting - took me over a year to truly like the boy - then he stomped on her heart. - DD's revenge she is on her own making twice his salary - and not in any mood to date )
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Old 07-16-2008, 09:41 AM   #30
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Looks like I'm the odd one here....$6K in the safe (since the 70's when I followed Howard Ruff - anybody else remember him?) and I always have a few hundred $$$'s in my pocket for eating out, movies and the occassional trip to the grocery store.

Not worried about the bank accounts as all are well under FDIC limits.
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Old 07-16-2008, 11:09 AM   #31
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We keep about $15k in a couple of bank accounts to handle monthly automated payments (including rent) and rely on ATMs for "top-up" when the wallets gets below $40. Housekeeper gets $100 cash every 2 weeks.

We use ATMs for security although we have never been robbed. Sometimes we pay our neighbor to buy stuff for us and vice versa so those are cash deals.
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