How Much $ to keep on hand?

[ZAGran]

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I've heard it said in the event of a flood or hurricane to max the plastic on your way out of town. Then declare Bankruptcy if/when bill comes due.

[RICHFL]

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The idea of having extra money available is a good one. When I was growing up it was called money saved for a rainy day. For most short duration disasters - natural - that will effect you for a limited time say 3 weeks or less I would keep a minimum of 2 months normal spending money saved in coins and dollars.

Now if the disaster is long term like a economic collapse I would spend it all, as fast as I can, buying things that can be used in my future. Then it is what you have prepared ahead of time that matters, once your supplies are gone; you will become another member of the mobs on the street, traveling to where ever there is food or water available.

[JLBIII]

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I think having extra money is a good thing though most of mine I keep in coin rather than folding. I place more emphasis on having barter items. WTSHTF money is going to be useless, unless you're using it as tinder to start your fires. In a short term crisis it's a good item to have, but in a long term situation people will quickly realize you can't eat it, drink it, or protect your self with it. As for being a barter item, useless. I spend what little money I have left after paying the bills on items that WTSHTF will be worth their weight in gold so to speak.

Joe

[Morgan101]

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It looks like $1000.00 is the magic number. That is what we keep in a safe with important papers. We probably have another $200.00 or so in coins unrolled.

[wac220]

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Several on here have mentioned keeping coins instead of or along with paper money. Unless they are older (pre 64), what is the extra value? I do realize nickels and older pennies also have additional metal value, but in a SHTF situation and the corner gas station is selling his remaining gas at $50/gallon, I don't think he wants 5000 pennies.

I do keep a change jar which I cash in every few months, but that is more for convenience than prepping.

[Scouter]

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The idea of having extra money available is a good one. When I was growing up it was called money saved for a rainy day. For most short duration disasters - natural - that will effect you for a limited time say 3 weeks or less I would keep a minimum of 2 months normal spending money saved in coins and dollars.

Now if the disaster is long term like a economic collapse I would spend it all, as fast as I can, buying things that can be used in my future. Then it is what you have prepared ahead of time that matters, once your supplies are gone; you will become another member of the mobs on the street, traveling to where ever there is food or water available.

I follow Rich's plan, we keep emergency money on hand for short term natural disasters. In a total collapse I think cash will be useless.

[Chefsimms]

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Several on here have mentioned keeping coins instead of or along with paper money. Unless they are older (pre 64), what is the extra value? I do realize nickels and older pennies also have additional metal value, but in a SHTF situation and the corner gas station is selling his remaining gas at $50/gallon, I don't think he wants 5000 pennies.

I do keep a change jar which I cash in every few months, but that is more for convenience than prepping.

Seems to me that coins will keep their face value better then paper will and it is also more difficult to destroy coins. Some countries are talking about doing away with penny’s because they a worth more than their face value

[wac220]

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Seems to me that coins will keep their face value better then paper will and it is also more difficult to destroy coins. Some countries are talking about doing away with penny’s because they a worth more than their face value

Australia has no pennies now. They round to a nickel. They also have 1 and 2 dollar coins and no paper dollars.