Part of being self reliant is learning how to stand
on your own two feet in an emergency.
This post is not going to talk about emergency preparedness when it relates to
food, first aid, gold, silver, weapons, or ammunition.
Let’s just say a storm, or catastrophic event
occurred in your area causing total loss of power for longer than a week. Would you have access to your cash? Think about it folks………….if you depend on
using your ATM/debit or credit card, and don’t carry cash, you’re in for a rude
awakening.
Prime example: when a category F5 tornado ran
through Moore, Oklahoma, electricity was lost; homes and businesses were
destroyed (flattened/totally leveled), and those not touched, were closed
because they were near the devastation. Could
I access my money at the bank?
No………because
there was no electric, and because the credit union was destroyed. Was my family prepared before this major
tornado rolled through? Yes, of course
we were.
My husband and I take being prepared seriously
because your life and your family’s life depend on it. I’m not talking about raiding your checking
/ savings account to later become a victim of a robbery. You should have cash in hand (an emergency
fund) not tied up in a bank/credit union to fall back on when the going gets
tough.
In May 2013, on two occasions, my family left our
home to get out of the path of major tornadoes.
With our emergency fund in hand, and supplies to include; food, water,
first aid, communications, animals, and security items, we escaped devastation.
You can read our story here.
Have I given you something to think about?
Tell me: would you and your family be okay if you couldn't access your money?
Money Source: You Tube
We keep $2,000 in fives - tens in the house at all times, and have for at least the last tens years.
ReplyDelete-Moe
Moe,
DeleteI would say you're prepared my friend. It's always good to have small bills on hand for emergencies.
It would take a complete meltdown to make our electronic money Un-accessable We have multiple accounts spread out between local, regional, and national banks and a second home in a close by city we could even move to if we needed to. We also have an emergency fund on hand. A power outage would have to encompass a wide area to where it was too far to drive to find at least one location with power that we have an account with.
ReplyDeleteNow if the power outtage was worldwide well "let the fun times begin" :)
PP,
DeleteYou're also well prepared my friend, most people aren't.
It won't be fun for many if we lost total power across the world.
Sandy, you've given me something to think about. I've been working on an emergency fund because you never know. I don't count on anything but myself.
ReplyDeleteSusan,
DeleteIt's always safe to have an emergency fund of at least $1,000 on hand in smaller bills. You have yourself, and your animals to consider.
I do not keep cash at home and this is definitely something I will do.
ReplyDeleteLongtime Wife,
DeleteYou need to make sure to have something to fall back on, and make sure it's in smaller denominations because in an emergency people usually can't break larger bills.
This is very wise advice.
ReplyDeleteI, sadly, have no spare funds to save in my emergency stash. I'm up a creek with family drilling holes in my boat.
Gail,
DeleteThanks! We put what we can afford each week away just for emergencies.
We keep a modest amount of cash here at the house. We insure the kids keep more. I tell them never, ever be out with less than 50 dollars in your purse or wallet. Not just for emergencies but in case you buy gas or something and then your debit card doesn't work. Part of what they have at their apartment courtesy of mom and dad is a little steel box with a small amount of cash that's not supposed to be touched except in a crisis. However, their definition of a crisis and mine are not the same so it has to be frequently replenished.
ReplyDeleteHey Harry,
DeleteGreat advice for your kids, were the same way.
How true, kids have a different definition then we do for emergencies/crisis'