How much emergency cash to keep on hand?

[Lennyjoe]

Ammo is my emergency cash….

[MechAg94]

Ammo is my emergency cash….

If nothing else, you can trade it to the people who think 100 rounds is a stockpile.

[RoadKingLarry]

I was doing pretty good till my daughter got the idea in her head that I was an ATM.
 

[French G.]

In the functioning society ATM card strategy is an emergency plan too. If you and your partner have between you four bank accounts and a few credit cards with open cash advance lines you can head to the ATM and put hands on a fair amount quickly.

Does not apply in the hurricane, amazing how many people thought the ATM or the swipe at the store was going to work.

[Kingcreek]

Actually the fed bank examiners/regulators require banks to have all kinds of contingency planning for various disasters, etc,  rational being that’s when customers need access to cash the most.
Anything short of the rapture or the zombie alpaca lips, they won’t be closed long.

[grampster]

Since savings interest has been pitiful, I keep a pretty hefty stash of cash in my safe.  I  have a large, heavy, safe that has a top fire rating as well as being quite secure.

[Lennyjoe]

Since savings interest has been pitiful, I keep a pretty hefty stash of cash in my safe.  I  have a large, heavy, safe that has a top fire rating as well as being quite secure.

Same here.  Not sure how I’m gonna ever get the safe back up the stairs if we ever move. 

[K Frame]

I've got most of my free cash riding in treasury bills right now.

Current investment rate for my latest tranch is 4.58%.

Yeah, still not great, but better than anything a bank is offering and with the added advantage that the interest isn't taxable at the state or local level, so that makes them more attractive.

[Calumus]

Six months of expenses. Rent, car, insurance, electric, internet, and food for us and the dog. Plus a little buffer just in case. Probably a bit excessive; but I’d rather have it sitting accessible in case of an emergency rather than in a bank that’s basically paying the same amount of interest. I figured this way we’re covered for a bit in the event of a banking failure, or in case the next Weather Baroon has an emp device attached.

[HankB]

Since savings interest has been pitiful, I keep a pretty hefty stash of cash in my safe.  I  have a large, heavy, safe that has a top fire rating as well as being quite secure.

Several local banks are offering CD rates of up to 4.6%, which is just a few tenths of a percent less than what 6 month T-bills have been going for lately. It doesn't match Bidenflation, but it's a lot better than what they were paying a couple of years ago. (A lot better? Perhaps I should say not as bad)

[cordex]

I've got some cash in a money market account from Capital One currently at 3.4% APY.  Not a terrible place to put cash I need ready access to.  I've also got some in a Federated Prime Cash Obligations Fund (PCOXX) which adjusts APY daily.  Current return on that is 4.61%.

We definitely don't keep six months of expenses in cash at home, although I've got well over 6 months of expenses in the bank or liquid investments.  I respect the preparation that having such cash on hand represents, but I would worry about taking that kind of risk.  My insurance doesn't cover the loss of more than $2,000 in cash as I recall, and while a fire or theft would suck already having it wipe out my emergency fund on top of everything else would be much worse.

[Ben]

but I would worry about taking that kind of risk.  My insurance doesn't cover the loss of more than $2,000 in cash as I recall, and while a fire or theft would suck already having it wipe out my emergency fund on top of everything else would be much worse.

Good point. I have some cash in the gun safe, but your post has me reevaluating on splitting the stash up, or maybe getting one of those fire resistant money pouches and placing that in the fire resistant safe. I'm not sure how well that would work as far as added protection. Or maybe converting to gold coins and burying it in the yard. 

[cordex]

Good point. I have some cash in the gun safe, but your post has me reevaluating on splitting the stash up, or maybe getting one of those fire resistant money pouches and placing that in the fire resistant safe. I'm not sure how well that would work as far as added protection. Or maybe converting to gold coins and burying it in the yard. 

You know, I got one of those fire resistant document pouches a while back thrown in with a pistol safe.  I don't have much faith in it, but I'm up for sacrificing it and a couple of $1 bills for science.  Think I should just toss it in the burn barrel with some cardboard or should I build a drywall box to put it in to try to replicate a safe's fire resistant layer?

[RoadKingLarry]

Some of my "old timer" relatives kept important papers, car titles, deeds and such in waterproof(ish) containers in their big freezers.

[cordex]

Some of my "old timer" relatives kept important papers, car titles, deeds and such in waterproof(ish) containers in their big freezers.

My grandpa keeps a copy of his will in his chest freezer in the basement.

No idea how that would stand up in a fire, but I'd bet better than the little fabric "fireproof" baggies.

[Brad Johnson]

My grandpa keeps a copy of his will in his chest freezer in the basement.

No idea how that would stand up in a fire, but I'd bet better than the little fabric "fireproof" baggies.

File it at County Clerk's office.

Brad

[K Frame]

A freezer is better than nothing, but it's not a great choice.

Any really important stuff goes into a small fire resistant lock box that goes in my fire resistant gun safe.

I also scan important documents so that I have an electronic record.

[MillCreek]

Important paper documents go into a fire-resistant lock box and are also scanned to my Google drive, so I can access them anywhere I can get computer access.

[Ben]

You know, I got one of those fire resistant document pouches a while back thrown in with a pistol safe.  I don't have much faith in it, but I'm up for sacrificing it and a couple of $1 bills for science.  Think I should just toss it in the burn barrel with some cardboard or should I build a drywall box to put it in to try to replicate a safe's fire resistant layer?

That would be a great experiment. I would think maybe use the drywall box. I'm guessing the box would be much less fire/heat resistant than a decent safe, so if the money in the bag survives in there, it would survive inside of a fire resistant safe.

[RoadKingLarry]

You could probably use plan paper and find out what you need to know.

[cordex]

I'll see if I can find a good way to strap together a drywall box so that it might survive a fire.  For science.  I think I've got some angle iron I could weld together to hold it.

[Ben]

You could probably use plan paper and find out what you need to know.

Or a mix of a couple of dollar bills and some plain paper, because I'm wondering if the paper used for currency is more heat resistant than plain old copy paper or newsprint or whatever.

[Ben]

Then again, we could save Cordex some work:

https://www.youtube.com/results?search_query=testing+fireproof+money+bag

[K Frame]

Or a mix of a couple of dollar bills and some plain paper, because I'm wondering if the paper used for currency is more heat resistant than plain old copy paper or newsprint or whatever.

IIRC currency paper ignites at a slightly lower temperature than pulp paper, but essentially the same temperature range.

[cordex]

Then again, we could save Cordex some work:

https://www.youtube.com/results?search_query=testing+fireproof+money+bag

Bah, those just involve tossing the bags directly in a fire.

I welded up a frame yesterday but realized I must have tossed the scrap drywall I thought I had.  I'll have to grab a scrap from somewhere.