- This topic has 7 replies, 4 voices, and was last updated 5 months, 1 week ago by Anonymous.
November 8, 2016 at 12:36 pm #35945
Remember in the event of unrest, cash is king!
Depending on the extent of an “Event” you may need cash and Banks can be trouble areas once things get bad.
I recommend having at least 3 days worth of expenses. Obviously this amount will very greatly by individual. More would be better, but this is my minimum recommendation.
On a side note, with my vehicles 1/2 a tank of gas is empty, I never have less than that.November 8, 2016 at 4:05 pm #35974
mix it up with small denominations and a few Franklin’s. Sometimes Ben has a way of persuading people.November 8, 2016 at 4:12 pm #35979
Good point!November 8, 2016 at 5:09 pm #35985
I consider cash as part of my preps. Some situations, no ‘gear’ you have is what you need but cash makes the problem go away like magic.November 8, 2016 at 5:19 pm #35986
Depending on the type of “Event” even cash could have a limited shelf life beyond kindling or toilet paper.
Giving current inflation (regardless of government propaganda) and comical Bank interest rates, I prefer tangible property to cash though it has some uses.November 8, 2016 at 5:36 pm #35994
^^^ I totally agree. It is more of a dynamic prep vs a storage prep. Silver rounds and bars store well when they are stored with the deep prep caches.November 9, 2016 at 12:04 am #36082HiDesertRatParticipant
Cash will be ok for a while even during/after an ‘event’. How long is the question. From all that I have read, a few months, then a gradual withdrawl to other forms of exchange. Most reputable authors on the topic suggest 3 months worth of cash, mostly lower denominations with a sprinkling of benjamins, with the proviso of having a store of food and all the other requirements to sustain life that we are all aware of. Precious metals are a store of wealth, but for immediate purposes use paper for transactions or barter with what you possess. Most folks these days have never seen real silver or gold coins ever, it is not in their awareness at all. That is for later on after the cataclysm in order to rebuild. Just be careful as to storage of cash. It is combustible, it rots in the presence of moisture, and of course can be lost any number of ways. Even eaten by insects.December 17, 2018 at 9:26 pm #64875AnonymousInactive
How much is the deductible on your health insurance? Chances are far greater you will need to use your health insurance than your AR.
If you haven’t done so already, then consider making 2019 the year you begin to build your Tactical Savings.
If you are in debt, or living paycheck to paycheck, then when shit (inevitably) happens, you don’t have many good choices.
Dave Ramsey’s Financial Peace University is one night a week for 9 weeks. Just the help he provides to couples, in regards to communicating about money, is worth the $130 price of admission. My wife and I recommend the live classes over the online version.
Many people consider 90 days of living expenses as a minimum amount for an Emergency Savings Fund. I strongly believe that this should be cash on hand, and not in any sort of financial institution. This Tactical Savings is in addition to, and comes before, any gold and silver, which is another topic entirely.
- You must be logged in to reply to this topic.