Wednesday, July 26, 2006

My Cash on Hand Emergency Fund

While most PF bloggers have an emergency fund, or are building one, I wonder how many have a stash of cash-on-hand? Other than the coin car and the pennies collecting on the shelf above the dryer, how many people maintain a reserve of cash on hand? I do.

I keep between $200-250 available tucked away at home. It's an emergency fund already in cash. I know it's there if ATMs are down in an actual emergency, if I need to pay for a taxi for a friend, or even if the pizza delivery driver suddenly won't take a check. I don't care a lot of cash with me, to avoid the temptation to spend.

2 comments:

makingourway said...

Indie,

Good question. I don't keep much cash on hand. I suppose if we have a bad hurricane soon in NC, I'd learn to do so.

Our small rural town could be out of electricity for days - how would we buy gasoline, food and water?

Great idea.

I think $300 - $500 should be fine.

Regards,
makingourway
www.makingourwayblog.com

CreitExpert said...

Having some cash on hand is a good idea. It will help a lot. But the problem is how to save some money and not to be subject to temptation to spend it.