How much liquid cash do you keep available?

[Time2]

Do you not consider checking and savings accounts or money market funds to be cash?

Not if the power is out. Our area had 8 days without power after hurricane Michael. But just a few miles from us was out even longer. I never felt so good as getting dried off after the first shower from a 5 gallon bucket of cold water. The next day, my wife said put the buckets out in the sun to warm it up!

 

[ChrisC]

I am considering "cash" to be pieces of paper or coins provided by the federal government with pictures of dead presidents or historical people that can be held in my hand and used to pay for services or items I am purchasing when checking, savings accounts, or MMF cannot be accessed or I don't want to use a CC.

'Cheers!

I think people should make a distinction between on the one hand liquid assets that can be reduced to cash currency overnight barring blackouts or some other problem with the payment/infrastructure system, and on the other hand, cash currency which is legal tender for transactions. I have $xxx,xxx in such liquid assets like CDs, Checking and Savings Accounts, and MMF primarily in taxable accounts, but some MMF in tax deferred accounts.

We keep $6K in cash currency to be used for emergencies or by my children, if my wife and I aren't around and they need to pay folks to get things done as they transition our estate and belongings from us to whomever. This is just temporary funds until they get a handle on things.

We keep a monthly balance of around $400 in cash to pay laborers who don't accept payments or tips from credit cards or Zelle and would rather not have to cash a check.

 

[jim584672]

$120 in my wallet.

 

[Koolau]

Do you not consider checking and savings accounts or money market funds to be cash?

If the 7-Eleven on the corner accepts it to buy water, milk or bread when the computers are down - it's cash.

 

[Tom52]

I keep about $300 in cash unless it is hurricane season I up it to at least $600 and keep a full tank of gas.

 

[Sue J]

I keep $20 in my wallet, $40 in my car and we have between $500-$700 cash (big and small bills) in the house. The house cash is usually used for gifts to the kids or grandkids. I always ask if they would prefer cash, Amazon gift cards or Zelle to their checking account. DH likes to give a cash tip for his haircut or if we eat in a restaurant.

We each get $50/month for pocket cash. Lately, DH's goes immediately toward his collection of whatever ebay collectible he's collecting. Mine gets saved in a jar on my desk, currently $800. There was a lot more last year but I've been replacing all my Apple devices.

We keep at least a thousand in the home bank savings account, just in case of whatever. It's earning nothing, it's strictly for having it available immediately. I also keep an extra $500 in the checking account just to have a buffer. Looking at this now, I realize this is probably redundant! Going to rethink all this....

Then there is a good sized emergency fund in an online high yield savings, currently paying 3.30%. The rest, which is the bulk of the liquid cash is at Vanguard in the money market paying 4.5% currently.