Money might be one of the last things on your mind during a crisis, but it still has its place. Depending on the type of emergency you’re in, cash can play an important role. Here’s why you should consider stashing some cash in your survival kit, as well as how much you should stow away and where to store it.
Why Might You Need Cash?
Having an emergency food supply in your survival kit will help more than having cash on hand. However, in some situations, you may need or want to buy goods and services if they’re available. To ensure you’re able to do so, don’t underestimate the importance of money in a survival kit. It’s always good to have some cash on hand for two primary reasons.
1. Electronic Transactions Don’t Work
A power outage is the most likely scenario in which a bit of cash would come in handy. It is practically impossible to process credit card or debit card transactions when the power goes out. Some stores and hotels may stay open, but they won’t be able to process card transactions.
Banks and ATMs will likely be closed or not functional, so you will be unable to withdraw money. Having some cash in your survival kit can help ensure you’re able to purchase crucial items when you need them, regardless of the state of the power grid.
2. Not Everyone Accepts Cards
In an emergency, you and your family members might need to move from a larger population center to smaller towns or rural locales. Or, you may simply need to travel to a nearby community to find the supplies you’re looking for. Retailers in some areas may not accept credit cards or checks, even if they still have power. You might also encounter individual sellers who have supplies you need, and they will probably require cash payment. To ensure you’re always able to secure supplies, it’s a good idea to keep some cash in your survival kit.
How Much Cash Do You Need?
Having some cash is a good idea, but how much cash should you have in an emergency kit? When it comes to emergency disaster preparedness, keeping at least enough cash on hand to cover one month of living expenses is a good rule of thumb. This sum should be held in smaller denominations of five, ten, and twenty dollars bills since breaking larger bills might be difficult in an emergency. With that amount secured, you should easily be able to cover any emergency purchases, as the effects of most natural disasters or civil emergencies can usually be fixed within a few weeks.
Where Should You Stash Your Cash?
Obviously, you’ll want to keep your fund of emergency cash close at hand. But cash is the number one most commonly stolen item in home burglaries. You need to make sure it’s somewhere secure. A fireproof safe might be the best option. A safe is about as secure as you can get, and you aren’t likely to forget where your money is. Plus, if you need to leave your home in a rush, the money is easily accessible.
While having some cash on hand is important, money will only get you so far when disaster strikes. Make sure you’re prepared with the right food and gear ahead of time. Visit 4Patriots to find all the survival food and supplies you and your family need.
