Do You Keep a Stash of Cash?

[HiddenDewey]

Absolutely. I take some cash out of checking every week & split it with DW. I stash what I don’t use. If I’d like to surprise DW with something nice, it comes out of this stash so it doesn’t show up on the CC statement. I’ll use it for myself as well, or even minor car repairs.

That's very similar to what we do.

I couldn't imagine not being able to access proper funding in a moment's notice should something happen.

We use cash mostly anyway. Lots of discounts these days if you pay in cash.

I'd feel vulnerable if I depended on a debit card 24/7/365.

I'd also feel a bit vulnerable if I couldn't imagine one circumstance where I may need cash.

Cash Is Still King!

 

[luvsJack]

What kind of stores these days continue operating with no power? Everything is computerized, so if they can't accept credit cards because of no power, they also can't sell you things without a POS system...

We don't keep cash on hand. There is no reason to do so.

Yes they can. After Katrina, our entire city was without power for days (some of us for weeks or even months), WalMart, Sams, Winn Dixie and Target all opened with no power. They let just a few people in at a time and mostly just opened for baby supplies, groceries, meds, pet foods and stuff like that.

And when the power is out for weeks literally from the coast to the capital, the ATMs don't work. A lot of folks won't take checks and couldn't take debit cards. Its cash or nothing.

 

[Southernmiss]

What kind of stores these days continue operating with no power? Everything is computerized, so if they can't accept credit cards because of no power, they also can't sell you things without a POS system...

We don't keep cash on hand. There is no reason to do so.

Goodness. Really? In an extreme unprecedented event like Hurricane Katrina or the Puerto Rican hurricane of last year, communities are wiped off the map-even in the USA.

People after Katrina were grateful to get out with their lives. Even those of us whose communities were seemingly okay and not devastated were impacted because of the infrastructure and close connection to other communities and people.

You are right many of the big box stores did not open immediately after, however, that was all the more reason for Mom and Pop stores to open so that they could sell what little they had left to friends, family and Neighbors in the community who they knew were in desperate need.

They willingly accepted cash or even extended credit to people to help them get bottled water, some milk, or baby diapers for the baby or other supplies that were needed.

We stayed in lines for gas for up to 6 hours when a delivery truck was promised. The station was cash only. This was at least a week after the storm. Places of employment we're mostly kind to employees and said if you can make it in we are opening on xx-date. If you cannot, take care of your family and self. Since we were mostly okay, my husband and I went back to work as quickly as resources were available and needed the gas to get to work.

Though not devastated, we were greatly impacted as were people hours inland from the Coast for months.

 

[Southernmiss]

Yes they can. After Katrina, our entire city was without power for days (some of us for weeks or even months), WalMart, Sams, Winn Dixie and Target all opened with no power. They let just a few people in at a time and mostly just opened for baby supplies, groceries, meds, pet foods and stuff like that.

And when the power is out for weeks literally from the coast to the capital, the ATMs don't work. A lot of folks won't take checks and couldn't take debit cards. Its cash or nothing.

Hi neighbor! Great minds posting at the same time.

 

[Gumbo4x4]

That's very similar to what we do.

I couldn't imagine not being able to access proper funding in a moment's notice should something happen.

We use cash mostly anyway. Lots of discounts these days if you pay in cash.

I'd feel vulnerable if I depended on a debit card 24/7/365.

I'd also feel a bit vulnerable if I couldn't imagine one circumstance where I may need cash.

Cash Is Still King!

My dentist does a cash discount. Fortunately, our bank is literally next door. But yeah, we do a lot of cash transactions.

 

[Lilsia]

We had a bad ice storm some years ago that shut everything down for days. Some restaurants were able to open a few hours every day, but did so on a cash basis only. Not common, but it happens.

Yep, the place I worked at has had a few times where the internet service or the registers have gone down not allowing us to take any credit cards. We had to go cash only those times. It happens more often then people might think.

 

[luvsJack]

Hi neighbor! Great minds posting at the same time.

Howdy!

Oh, I will never forget those hours in gas lines!!

 

[Lilsia]

Huh. But how did they keep track of the sales for inventory purposes? This seems crazy to me.

I live in an area with, basically, no "mom and pop" type places (besides restaurants). Everything here is big box retailers, chain stores, large supermarkets, etc. We also live in an area where there are, essentially, never power outages anyway. No weather issues here besides the occasional rain. I guess if there is an extended power outage in this area, we are screwed because I am fairly certain that NO STORES in a reasonable radius will even be open. I'll take my chances. Even if there is an earthquake, we will be good for awhile on the food and water we always keep at home, but there has never been an earthquake in the area where we live that disrupted things for an extended time anyway.

Well you know what things cost to be able to add it up and you just write down what you sold. Then after the power issue they ring it all in. You know, like they used to do before computers. LOL

 

[Southernmiss]

Well you know what things cost to be able to add it up and you just write down what you sold. Then after the power issue they ring it all in. You know, like they used to do before computers. LOL

After a devastating storm, I am sure some big box stores just take their losses and came up with creative inventory plans or do manual inventory.

 

[Lilsia]

After a devastating storm, I am sure some big box stores just take their losses and came up with creative inventory plans or do manual inventory.

Plus there is always a paper trail for inventory so that is never the issue. The issue is charging the taxes and having them jive with what your reported sales are.

 

[Southernmiss]

Plus there is always a paper trail for inventory so that is never the issue. The issue is charging the taxes and having them jive with what your reported sales are.

Yep. DH was a sales tax auditor for our state after Katrina. That was his job at the time! Tax reporting was very interesting for a few years.

 

[smokeyblue]

Yes. I have a decent amount of cash in a safe spot in my house. Why? I guess, because I can. I've never really had more than a few hundred to my name and now that I have a bit saved up I like having a bit around it in case of emergency. I'm glad to know it's here if I need it or if my parents had an emergency. I also like that I don't have to go to the bank before going on a trip. Additionally, it seems like the best deals on Craigslist or FB marketplace are snatched up in an instant; good to have cash on hand to jump right on those deals.

 

[shoney]

Nope. I never have cash on me. I use my credit card for just about everything. When I need some I usually just get it from DH or stop at the atm if I really have to.

 

[dish rag]

Do you keep cash around the house for the occasional possible emergency?

Yes.

 

[georgina]

Nope, we often have no more than 100 dollars around the house usually. I do keep cash in a bank account I can get it out of, but not on hand. We use credit cards/ETF to pay all our bills.

I never shop on craigslist or FB marketplace!

 

[marlynnp]

What kind of stores these days continue operating with no power? Everything is computerized, so if they can't accept credit cards because of no power, they also can't sell you things without a POS system...

We don't keep cash on hand. There is no reason to do so.

Not true.

I've been through an ice storm and the resulting power outage. The store had generators for their equipment but there was no service to connect to the cc company network.

 

[dotfurio]

No. I'd probably lose it or forget about it.

 

[bobbiwoz]

Not much, $50.

 

[Colleen27]

I keep a $20 in my phone case for gas or cab fare, should the need arise, but otherwise I pretty much only have cash if I know I'm going to need it. Around me, even farmer's market vendors and parking meters take credit so it is pretty unusual for me to actually need cash.

 

[Floridaman999]

No. I'd probably lose it or forget about it.

That's exactly the reason I don't do it. The hidden cash we found in my mothers house after she passed made me realize how easy it would be to hide it and forget it.