Do you store cash in your home for emergency's?

United States
October 8, 2008 10:17pm CST
When the stock market crashed there was a ton of people that were storing cash in their house beacuse they had lost faith in the banks. Do you think we are getting to that point? Do you store money in the house? Have you always stored money or is it just reciently?
2 people like this
11 responses
@applefreak (3131)
• Singapore
9 Oct 08
yes i've heard news about the bank runs. thankfully it has not happened here where i am. i sure hope it won't ever happen here. i don't think i will store cash at home as we have deposit insurance. i don't have a lot of money sitting in my savings account so the deposit insurance more than cover my money. i don't even keep cash at home as ATMs are pretty accessible. we have ATMs all around, always within 10 min. cheers ;p
• United States
13 Oct 08
When the power goes out here the banks close and the Atms do not work. Then I use my small stash. It is also helpful when I want to order pizza and I dont want to write a check.
1 person likes this
• Singapore
13 Oct 08
i guess that's the advantage of living in a small country. even if the power for one area goes out, we still can travel easily to another area. it takes a maximum of two hour drive to get from one end of my country to another, length-wise. that's how small the country i'm living in is. another thing is the with the advancement of technology, fast food delivery companies all accepts credit cards. strange thing is they don't accep personal cheques. so i usually pay using my credit cards to pay when i order pizza. cheers ;p
• United States
19 Oct 08
The last power outage we had was due to snow and we were all stuck in the house or the immediate area. I can walk to the store but I cant buy things with out money.
1 person likes this
@cutepenguin (6457)
• Canada
9 Oct 08
Well, we haven't quite reached that point yet in canada, but I do keep cash in the house in case of an emergency. I've always had a bit. I guess I'm envisioning a storm or something causing all of tghe power to be out, and needing to buy something at a store.
1 person likes this
• United States
13 Oct 08
I think that is a likely way that we all might need to dip into the cash we store at home, if we have any. There have been a lot of storms lately.
@peavey (16821)
• United States
9 Oct 08
It's good to read such level headed responses and that people are not rushing to the banks to pull money out. That's the last thing we need. I nearly always keep a little cash stashed away and have increased that a little, "just in case." But most of my money is in the bank.
1 person likes this
• United States
13 Oct 08
It is nice to see people not freaking out about the econimic crisis. I hope I never have to use my Just in case money but I feel a bit better knowing that there is some there. There is always that time when there is no money in the bank and I need something at the store and it is there.
@sunshine4 (8709)
• United States
9 Oct 08
I don't store a lot of cash in my home. Usually I go to the bank on Fridays and get $25 in ones to put in the cupboard. I use this money for lunch money for my kids for the week. That is all the cash I ever have in the house. If something happened to my bank, I'd be in trouble.
1 person likes this
• United States
13 Oct 08
I store mostly ones as well. My kids take lunch in a bag so they dont need much unless it is a special occasion and then I have a bit. I depend on my bank a ton. I would be in big trouble if anything ever happened to it. I sure hope it does not.
@Thoroughrob (11750)
• United States
9 Oct 08
I have a little on hand. Not much, as I don't have much to put back. We are living paycheck to paycheck. My husband is not even getting a 40 hour week some weeks for the last month.
1 person likes this
• United States
13 Oct 08
We are in the same position now. We were doing well a while ago and by well our bills were payed and we have enough money to go out to dinner once a month as a family and one movie too. Now times are getting tough and things are getting cut back everywhere. I have less and less on hand lately.
@limosonia1 (1560)
• United States
9 Oct 08
Even if I could pull out there is no way. With the convience of EFT's it would be impossible for me to try and pull out of the bank my life would really get complicated. I do however try to keep money at home just incase. Never keep all your eggs in one basket so to speak.
1 person likes this
• United States
13 Oct 08
I just keep small amounts of cash stashed at home and I mean small amounts. If I cant get cash and I can get to a store I can buy a bottle of milk or something. I keep my bill money in a bank.
• United States
9 Oct 08
I know banks are safe. But, over the summer I recently started putting a few bucks aside. NOt because I don't trust banks but so I would have some money that I would not spend. It's locked away so it is hard to get at and easy to forget about. To me, it is just a non-bearing savings account.
1 person likes this
• United States
9 Oct 08
I have wondered if we have a disaster and there is power outage how will I get money? I keep some money in the house but the rest I have in the bank and usualy it is just going to be spent on bills so that is where it needs to be.
1 person likes this
• Philippines
9 Oct 08
I store cash money in home, every since, it's just I'm not used to it stored in the bank, I'm afraid when there's a emergency case that need cash and don't have cash on hand. This thing scares me.
1 person likes this
• United States
9 Oct 08
I only store a little money in the house. I keep the majority of our cash in a few different banks. It is safer in the bank unless we have a big problem and then we are all introuble together.
1 person likes this
• United States
9 Oct 08
With me there is a catch 22 regarding the banks.First, I really feel I don't want nothing to do with them in these uncertain economic times, second, I need my bank account because I receive checks sometimes that I can not cash anywhere and the only way I can cash these checks is by depositing them in my bank account. Thats the only reason why I need a bank.. I'm not sure if were getting to the point to where we all should pull our money out of the banks, but if I had a large savings I wouldn't feel comfortable with my money in the bank right now. Invest in gold I've been told. ( if only!)
1 person likes this
• United States
9 Oct 08
I think if we all pulled our money out of the bank it would cause a big problem any way. Banks are a necessary evil to us. My Hubby gets his paycheck automaticaly deposited and then we write checks to pay bills. It isnt fun but it needs to be done if we want to keep out home.
1 person likes this
• Philippines
10 Oct 08
Hi there happythoughts! We do keep cash at home for daily expenses as well as for emergency purposes. Mom, Dad and I keep some bank accounts for money that we do not yet need. It is safer than keeping it at home. We also invest in investment media that is safe. I still have my investments in the stock market but have pulled out my other investments due to a weak market. I maintain those that are still doing well.
• United States
13 Oct 08
Our stock market money is doing very bad, but it is like gambeling and we knew that going in. That we are leaving there and hoping for the best. We keep emergency money at home and hope we never need to use it.
• Lubbock, Texas
10 Oct 08
That's the panic approach, and people panicking and selling off their stocks is partly what is causing the crisis. I think if I had any money to speak of I'd be withdrawing some of it for "just in case", but if everybody made a run on the bank we'd really be in big trouble. Don't get me wrong, I'm not comfortable with the situation as it is, but I'm not ready to add to the problem just yet.
• United States
13 Oct 08
I dont have any intentions of adding to the banks problems. Nor do I have any intentions of being caught with none. I keep small amounts at home. Probibly less then the average person carrys in their wallet. Less then $100 but enough for milk and eggs if we need it.