How much physical cash do you/should you have on hand?
It seems to vary quite a bit between individuals, often regardless of actual net worth.
When I say "on hand", it's what you carry around, and what's in your apartment/house.
Personally, I have a small stash of USD and CHF (Swiss Franc)- their paper bills are a work of art.
And some physical platinum. All together it's enough to buy groceries for some time :)
I've heard it's a bad idea to have too much physically, something to do with homeowners insurance.
But since I rent, it's a non-issue.
What about you guys / your thoughts?
Bout tree fiddy
what's your address?
Also interested.^
I'm interested because Chuck is interested.
Axe
[quote="MonacoMonkey" I've heard it's a bad idea to have too much physically, something to do with homeowners insurance. But since I rent, it's a non-issue. [/quote]
Get Renters Insurance...now.
Also, I have a family so I keep $200-$300 on me at all times.
I have cash at home, as well as silver and gold bullion.
I like to have a hundred minimum on my person in a variety of bills Nothing worse than buying a drink/snack and having to swipe. There is some at home, but not much more than I carry. Definitely get renters/home owners insurance, particularly if you have any nice things.
~$60-80 in my wallet
I play poker regularly so I actually do have a good amount of cash at my apartment.
Usually $0. I'll admit it's a terrible habit, not having cash on hand is irrelevant 95% of the time, but those times you get 5%, it's a really poor decision.
Happens to me all the time! :D But thanks for making me feel better I am not the only one.
I did get a discount from my tax declaration this year because I pay everything by card. :D
I also carry next to no cash with me. I find it more convenient to use my card, and if I hold cash, I generally feel less aware of my spending. If I hold cash, I feel like there's a need to spend it if I'm carrying it around with me.
With my card, I seem to consider every purchase. It's more of my own bias than anything. But I agree that I should carry around some emergency cash around with me just incase.
You're an anomaly. Numerous studies show people tend to "overspend" using card, while cash promotes better financial management skills because it causes more 'pain' to spend physical bills.
https://www.psychologytoday.com/blog/retail-therapy/201306/why-we-overs…
Wouldn't be surprised if I was. But that's what works for me. I have thought about this though. What would encourage me to better manage my finances, would be to draw out a certain amount of money (£100) at the beginning on the week. If I knew that was all that I had for the week, I would certainly budget a hell of a lot better.
But, there's something about having cash in my wallet that makes me think it's okay to dispose of it. When I use a card, something registers in my brain to consciously think about my purchase.
Again, I probably am an anomaly. And I'm proud to be one. :)
All those studies say to me is most people are really bad with their money. I'll average $20-$40 on me in cash and I never use it unless I'm taking a short cab ride or just want a single drink at a bar. There is no psychological effect between cash and credit for me because I don't buy iPhones I can't afford and incur interest for it.
I usually carry about $60-80 on me.
At home I usually have an ox, a few goats and several chickens.....all for bartering purposes.
Cash doesn't earn rewards.
I should carry some emergency bills but I always forget to get them.
True as hell. I only carry around $30 and swipe to play the airline status game (and never carry a balance of course).
just enough for weed and tacos
But bro, if shit forreal hits the fan, fuck you gonna do with your pretty papers and shiny metals? I'm not a prepper, but I get those guys. You just have a bunch of cash depreciating like why do
I have over $10k worth of MARIJUANA stashed in my house. Gold and cash are only WORTH anything because we SAY they are. CANNABIS is the only CURRENCY that has INTRINSIC VALUE.
Keep it COMING and DISRUPT the wso herd MENTALITY.
I usually have around $100 on me and don't keep cash at home other than leftover foreign currency from travels. Why do people keep cash at home? I guess I live in a big city so there's an atm every hundred feet.
Also, similar to others I use my credit card for 99% of my purchases to get points. With tap it's even faster than cash too so using cash makes no sense to me.
Usually carry around $10.
Probably have about $500 at my place though, probably going to spend it soon.
I try to keep some cash on me for tipping. I prefer to give the waitress or the valet some latitude on reported income. And every once in a blue moon I'll go to a cash-only restaurant.
I like to keep $200-300 in my wallet. Figure that would be enough should I find myself in a jam
I sometimes Walk down the Street with a massive Bankroll and withdraw even more when I pass an ATM.
Most don't have the honesty to admit this.
i don't have much cash on me, usually 100 or less, a couple 20's in each vehicle. none at home, and have no precious metals outside of whats in my tv and computer. that said, i've got about 10k rounds of 5.56 and 7.62x39, and a host of 12ga, 45acp, etc.
About right...I keep no real cash. ATMs charge me money; why use them? I have some silver and gold in a safe. Mostly, I have 3 shotguns, an AR-15, an AK-47 and a few handguns, plus a lot of ammo. If things got really crazy, guns, not gold, win the day.
Spoken like a true nut job who has never heard a gunshot fired in anger.
0, but I would like to have some coins on me for vending machine snacks at my internship..
When I lived in a place with coin laundry I would go to the bank and withdraw $100 in quarters like once a year.
Always figured I would get strange looks from the tellers but they didn't seem to think anything of it.
Most people in Asia that I know do this: - About USD 100,000 in cash, about another USD 100,000 in RMB or THB (local currencies) - A duffel bag full of gold bars - A small pack of diamonds (probably around USD 2-5 Million) - 3-5 passports (with different names) - A handful of handguns
I feel like "a handful of handguns" is an oxymoron, solely due to the plurality of the guns.
Maybe they are really small guns?
By definition a handgun is always a handful, though handful of handgun just doesn't roll off the tongue as easily
Not a doomsday guy, but have a couple K in cash as well as gold and silver coins.
I just carry platinum everywhere I go.
//Isn't it fucking bullshit how a sleeve of pop tarts went from 0.0000000000000002 oz/sleeve to 0.0000000000000001 oz/sleeve??
People always look at me like I'm on the spectrum when i break out my jeweler's scale and start weighing nuggets out at the checkout line.
Some of these responses are awesome. My honest answer:
On me: anywhere from $20-200, usually around $50 At home: a few hundred dollars in a drawer
I used to carry ~$200 regularly, but I literally never use cash anymore. My office provides drinks and snacks and I swipe/tap food, gas and hookers. I don't really go anywhere that requires a tip that's not on the card. I actually can't think of the last time I had to use cash.
I used to keep ~$1k in my apartment when I lived in the city, but that was mostly because because I played poker.
fiat Currency? That pre-mined shitcoin? LOL! I walk around with heavy bags of BTC, ETH & XMR on me at all times.
$28 on me and a piggy bank of change and small bills at home.
Need to have gold bullion. I'm not sure when you'll need it but I suspect there's a pretty high likelihood that you will. #inflationiscoming
The one I struggle more with is water. Like how much water should you keep on hand for that inevitable earthquake, hurricane, plague, Korean ICBM or zombie apocalypse? Storage is obviously the issue but how many gallons should one have on hand for a family of four?
The Assets portion of my balance sheet is only one line. Cash. Cash rules everything around me. Dolla Dolla Bill Y'all.
About $50 most of the time in case I need a taxi home (ie My phone's been broken, stolen, lost or out of battery so no Uber).
Everything else is by card - It's faster, easier and more convenient.
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