How Much Cash Should You Have on Hand

In this video, we're going to talk about how much cash you should have on hand.

There are a lot of different opinions out there and a lot of different rules of thumb, but in this video, I'm going to share with you my opinion on the matter and what has worked well for me.

P.S. Whenever you’re ready... here are 5 ways I can help you take control of your finances!

[censorbleep]

There was a time when I was young and my "cash on hand" was the coins in my bowl for house keys . . .

[shortytari]

Cash on hand for emergencies is a smart thing to do. You never know what may happen. Keep as much as you think you need or what you are comfortable with having and tell only those that need to know that you have it

[RepuBlicOfChaD]

20k cash in various bills. 1, 000 ounces of silver 🥈, multiple firearms and tons of ammo.

[jill]

Finally, someone who answers the cash question directly! Thank you!

[jamesyurky]

Sad thing is half the people don’t have 100 bucks in a emergency fund

[jeffcauhape]

Thanks for talking about this. It is an issue I don't hear anyone talking about and needs to be discussed.

[stanwhite]

Also keep some cash in your vehicle's. I keep enough for a tank of gas and 3 or 4 meals. If i go on a trip, I increase it according to the trip distance. Even if my wallet was lost or stolen I could get home. You could even consider it part of your cash emergency fund.

[thomasboutin]

Cash is KING and the idle $$ stashed is the best example of cash flows. EVERYONE IS DIFFERENT.

[papamooo]

Dang I have 35k cash and I didn't think that was enough

[larryswinford]

As a former insurance agent, check your home owners/renters policy. I've seen cash limits at 1, 000, 2, 500, and 5, 000. Higher numbers are for things like collections (you got some of that currency and coin from Federal Reserve or US Mint, as i collectibles, special issues, etc.) otherwise, requiring good records, money losses from fire or theft, etc., may not be fully covered, if at all.

[Bshiddy]

Don't keep any money in the bank, unless you don't want it.

[VomBethel]

We need to keep some cash at home since some people who come to do work around the house only accept cash. It's also convenient to tip the AAA person in cash when he/she helps you out of a jam, and we prefer to tip cash at restaurants. Other than that, if we lose electricity and/or the internet I'm not too sure how gas stations, grocery stores etc. will function at all even with cash.

[tommyt]

Anyone else remember the day Russia invaded Ukraine. In one hour, there were lines blocks long at every ATM in Ukraine, with people desperate to get real money. No one is taking credit cards in the middle of a war of invasion. Be smart. If you can, keep 1 or 2000 in 20-dollar bills in a secure hiding place. You never know what can happen!!

[kartiersupremewhite]

Having a Family Cash on Hand is A Must! At Home is a Must.

[MNRick]

Great advice. I always keep a few thousand dollars in a safe at home, never know what might happen or when you might need it. I have about $900 worth of $2 bills, a pile of $20s and most of the rest is in $5s and $10s, got a nice bag of dollar coins too, I save every one I get my hands on.

[kaythegardener]

What about at least 4 weeks of overhead (rent or mortgage, utilities, insurances, gas, food, other misc, + debt or credit card payts)...?

[MENSA.lady]

I hold enough to cover 1 month of normal expenses, Rent, food, transport to work and the like hidden under the mattress. Otherwise I carry enough in cash in my wallet for about 3 days normal expenditure. I also carry a Bank debit card so I can access my account from any ATM.

I do not own a credit card, the interest rates are stupidly high. Good news is that I also have ZERO debts and given the present situation in the banking world all of my savings are being converted into bullion, right now Silver is looking good.

[redzuantahar]

I first heard this from Sheikh Imran Hossein saying that we should have tangible assets.

[kristinb]

It all depends on what emergencies are likely to happen in your area. Tornado zone emergencies can be devastating and could level a town, but the next town over is untouched. Every region has its own hazards. Figure out the probable worst case emergency with it’s reach and duration.

[darryltognarelli]

I do have a substantial amount of cash on hand as well as a top of the line crossbow for hunting food as well as weapons for self defense!!