Cold Hard Cash

[Danny]

Couple weeks ago a congressman got caught with $80,000 in his freezer. :

Well, it got me to thinking about what was the most cash hot or cold I've had on me or in the house - never in the freezer - if I ever do get a big payoff I'll know now not to hide it there

I don't think I've ever had more than like maybe $2,000.

 

[IBWino]

I don't think it hurts to have at least a couple of weeks worth of cash on hand. Catastrophic events (natural and otherwise) often make ATMs and credit cards useless.

 

[brewer12345]

My dad has always been self employed (in my living memory, anyway) and usually in a cash business.  Hates credit cards, etc.  You would not believe the wads of cash I have seen him toting around (let alone the inventory for his jewelry business).

Me, most I have is usually a hundred bucks or so.  Dad doesn't get it.

 

[astromeria]

True confessions:

I cashed my last paycheck in 1999, just in case. Oh, the shame!
Normally we keep $100-200 around, and we carry that much between us, too. But none in the freezer

 

[saluki9]

As we saw last fall, during natural disasters and the like it can be very hard to get cash.


I like to keep a good supply handy just in case, along with lots of ammo

 

[soupcxan]

.

 

[Danny]

Way back I used to have stock certificates in my apartment - under the mattress
I came home one friday night to find the place ransacked - mattress turned over - certificates still there.
I believe the burglar evaluated them, realized that they were just about worthless and took the tape deck instead.

 

[lazygood4nothinbum]

my ol'man used to keep gold coins and about 5-10k cash in 100s in safe deposit box. somehow mom discovered it mid-alzheimer's. she'd have the aide drive her to the bank where mom would raid the box. she was like a kid with this seemingly endless supply of money. it was very funny.

but then she started carrying too much and at stores she'd get confused and hand the cashier a couple o'hundreds for a $4 item. she was making herself a target so we had to take her piggy bank away from her. so sad. no more monopoly money for mom.

 

[boont]

A few years ago I started collecting $100 bills. I was bringing in a lot of cash at the time and I was also selling a few collectibles. Every time I took the money in 100's.

Then I sold a car for a few thousand and had more 100's. I kept them in an old file cabinet.

When I got to somewhere over $15,000 in $100 bills I decided that it was too much cash to have at home. I took it to a couple of banks to deposit so I could keep each deposit under the $10,000 cash limit they have to report.

When I slapped all the bills down, a young male teller let out a soft yelp.

I never understood that. He must have seen more cash than that working in a bank. Maybe he thought I was a drug dealer.

Anyway that was fun for awhile.

 

[Nords]

When I slapped all the bills down, a young male teller let out a soft yelp.

He was probably the junior teller assigned to checking all those serial numbers for counterfeits.

 

[kumquat]

In the early 80's when DD was just learning to walk I sold a car. The guy paid me with 14 crisp red/orange Canadian 50's. I stashed it in a drawer planning not to have to visit the bank for a month or so. Then one day I'm changing DD's diaper, what do I find but bits of red/orange paper.

She's been costing me money ever since.

 

[kat]

$1,000, and replaced when used. Part of my asset allocation.

 

[MJ]

This thread has got me thinking about keeping more cash onhand. I usually have no more than $40 available since I always assume I can get more at any atm machines.

 

[Nords]

This thread has got me thinking about keeping more cash onhand. I usually have no more than $40 available since I always assume I can get more at any atm machines.

Same here. The only time we have cash piled up is when we're scouting a Craigslist purchase. We can get money from an ATM in five minutes from our house... plenty of time when the hurricane/tsunami sirens start wailing.

 

[AltaRed]

Maybe, but when Rita seemed to be heading for the Texas coast enroute to Houston, DW said there was a run on the ATMs and she was simply lucky she found one she could pull out her daily limit on...and that was on a Wednesday before the storm was not due to hit Galveston until Friday.

The local branches could not resupply the ATM's because traffic jams had shut down armored services. You cannot wait too long.

 

[retire@40]

Same here.  The only time we have cash piled up is when we're scouting a Craigslist purchase.  We can get money from an ATM in five minutes from our house... plenty of time when the hurricane/tsunami sirens start wailing.

But aren't you limited to a max of a few hundred dollars per day from an ATM? Last time I checked the max was $300, but that was a few years ago.

 

[larry]

I don't think it hurts to have at least a couple of weeks worth of cash on hand. Catastrophic events (natural and otherwise) often make ATMs and credit cards useless.

I agree, a couple days after Katrina we were in Biloxi and cash was king (and nothing bigger than a twenty dollar bill was being accepted). Because of my experience I keep a few hundred dollars readily accessible, a 55 gallon drum for potable water and a 55 gallon fuel drum. I may never need them again but I already did need them once!

 

[Alan]

But aren't you limited to a max of a few hundred dollars per day from an ATM?  Last time I checked the max was $300, but that was a few years ago.

Depends on your bank. I actually deliberately have asked my bank to limit the amount of withdrawals from the ATM to $200 /day. This in case the card is ever stolen and PIN compromised. This was from a bit of advice I read in a financial article some months back. I figured I would never need to draw more than $200/day using the ATM, and I never keep more than $200 in the house anyway (apart from November, 1999 when I kept $500 in case of a rush on ATM's over the millenium panic).

 

[Dog]

I have about $5k in cash at home. There is a kind of comfort in actually having it around .....just in case. Another one of those sense of security issues for me.

 

[Nords]

Maybe, but when Rita seemed to be heading for the Texas coast enroute to Houston, DW said there was a run on the ATMs and she was simply lucky she found one she could pull out her daily limit on...and that was on a Wednesday before the storm was not due to hit Galveston until Friday.
The local branches could not resupply the ATM's because traffic jams had shut down armored services.  You cannot wait too long.

Good point.  We'd probably start our hurricane prep list when the Red Cross called to ask if spouse was still available to staff the shelter...

 

[kat]

I will never use an ATM. Don't even have a card. I don't think they're safe.

 

[mathjak107]

i just keep my .44 mag and ammo for emergencies..i figure all i need is that and i can get everything else i need

 

[BUM]

Years ago when I was shopping for a new Financial Manager, I always asked the same question. "What would you do with large amounts of cash?" Surprisingly only one guy had a good answer, most had no clue. I hired the guy. Later he sold me lots of very expensive mutual funds. Then I fired him and went to VG.

The cash? Suffice to say, "get rid of it". The trick is how... can't buy a new car with cash, can't deposit it. What would you do with the aforementioned $80k in the icebox? Nice problem to have.

 

[unclemick]

Years of advanced training - Mardi Gras and hurricanes.

Even used to carry some in my shoes - not tooooo long though.

heh heh heh heh heh

 

[Outtahere]

We didn't have an ATM card until recently, dh always keeps a couple grand in the house, he feels better with cash around. I think that's a little too much but it's a compromise since dh would keep all our money in coffee can's in the back yard if I left the money management to him LOL