Do you have a 'cash stash'?

[Minnie824]

When we had our taxes done this year, the accountant was talking about a woman she knew that had passed away. In her safe deposit box, she had $40,000 stored away in cash because she didn't trust the banks, etc. With all the taxes, etc, maybe its not a bad idea, although, I thought I read (on the dis actually) that you're only allowed to have so much in cash before it becomes illegal. Anyway, do you know anyone like this, who just stored their cash or had a sizable 'emergency' fund?

 

[Stacy_C]

My father-in-law walks around with at least $10,000 in his pocket at all times. Get this, he wraps and thick rubber band around it...never spends it...never needs it, but won't be without it! Crazy, I know!

 

[HayGan]

I don't know her but I read this just yesterday:

Homeless Woman Found Asleep At Store With $60K In Purse

POSTED: 11:39 am EDT August 17, 2005

JANESVILLE, Wis. -- She had $60,000 in cash -- and no roof over her head.

Police in Janesville, Wis., report an elderly woman found snoozing in a discount store had $60,000 in in her purse. The woman was fast asleep in a recliner at the store.

Officers looked in her purse for ID. Lt. Keith Lawver said he's never seen that much money before. The money was in six stacks of $100 bills.

Lawver said the woman had no permanent address and had been staying in hotels and apartments. Lawver adds that he hopes a social services case worker will help the woman find a place to live and set up a bank account.

 

[NMAmy]

My father-in-law walks around with at least $10,000 in his pocket at all times. Get this, he wraps and thick rubber band around it...never spends it...never needs it, but won't be without it! Crazy, I know!

Yikes, I keep washing the same $10 bill because I forget to take it out of my pants, wash them, pull the bill out of the dryer and stick it into the pants I'm wearing, then wash it again. It's a vicious cycle. There's no way I could keep track of $10,000.

We keep emergency cash of $500 stashed at the house. This is nothing compared to all the stuff DH had around "in case of emergency." MRI's, a generator, huge drums of water, 100 lbs of rice--he's such a boy scout.

 

[Beastlover]

Usually, not a lot, but just in case money...

 

[caitycaity]

we have a cash stash in case of emergencies, but it's less than $1000.

 

[BabyTigger99]

Last I checked, about 50 cents!

 

[lillygator]

I rarely have cash - I am usually digging in between the couch cushions!

 

[Beauty]

We have maybe 500 in the safe in case of emergencies. My grandaddy had about 5,000 in a box when he died. I think it has to do with the depression.

 

[mickeyboat]

I am lucky to have $1 in my pocket. I stash my cash at the ATM.

Denae

 

[Lynn CC]

although, I thought I read (on the dis actually) that you're only allowed to have so much in cash before it becomes illegal.

I have never heard that someone can't have cash in their house, that it's illegal? Are you sure you read this and I wonder what the amount is?

We just use our debit cards and I'm lucky if I have $20 in my pocket a week! I can't even find any spare change around here LOL

 

[Nebsky]

Yep, sure do.

Safely stored in the coffers of Disney World.

 

[Disney-Kim]

I believe that any cash over a certain amount in a safety deposit box will be reported to the IRS by the bank. YES they do look in your SD boxes. I am thinking about $10,000. ....not sure though.

I don't believe its illegal in any way, but maybe a tax issue.
???

I keep some cash too for emergencies. I just found $400 in my closet that I had forgotten about recently. I put it in the bank right away. WOW

 

[offwegotoneverland]

In Canada your safety deposit box agreement stipulates that you cannot keep cash in it. (at a bank) however the bank does not review the contents unless the fee's are not paid for some time and we are seizing the box for non payment.

(I work for a bank and know darn well people put cash in those things but wonder what the point is as if the bank account wouldn't work what makes you think the box will be ok?)

Fairly sure it's because the government wants to keep bills circulating and not buried in the backyard coffee jar.

 

[Papa Deuce]

Keep about $1500 or so stashed in my closet.

 

[bcvgal]

I've seemed to have lost mine.

 

[sweet angel]

We might have about $40 in change. I have another $5 in my wallet (until breakfast tomorrow). That's about it. If we have money around here, it gets spent. Safer to keep it in the bank.

 

[Lynn CC]

I can't believe the gov't can tell us not to put our cash in safety deposit boxes or buried on our own land or where ever one chooses to stash it on their property. I just never knew that was illegal, are you sure?
Honestly, there must be people with a lot of cash and don't put it in banks or invest someplace. If you already paid taxes on it, isn't it yours to do as you please, spend or save what's the difference?

 

[C.Ann]

My dad once sold a couple of his things for a sizeable amount of money to an old farmer.. When the farmer came to the house, the money was damp and moldy smelling.. When my dad asked him why, the farmer replied that he had been keeping the money in buckets, buried in the dirt floor of his barn..

I have stashes in various locations.. If anyone has figured out where my place at the lake is, don't bother to come and rob me - it's not here! LOL

 

[suzannen]

Large stashes, definitely not. But, in NY (and the Northeast), we all learned the hard way that in the big blackout of 2003, there was no access to any ATMs for approximately 26 hours. Our next door neighbors had to borrow money from us to buy non-perishable food from the grocery store. Since then, my DH and I always make sure we have a small stash around. And my office, as part of a management emergency plan, now always has $500 to give to employees in the event of another emergency situation. I would never keep large amounts of money around, but it's definitely prudent to keep small emergency funds around.