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Ok, the power is out and will be out for a good while so how do you plan to pay for goods and services that you will need until the power is restored??
How much cash do you need to have on hand to carry you over until electronic credit and banking is up and running again????
I like to have at least $200 in 10s and 20s in my emergency pack I have every day, and usually another $200 - $300 stashed in various places, just in case.
I already have food and water and bug out locations in place, but having a small stash available if the banks are down is a good idea anyway
It depends on what's going on. There are times when cash may not be worth the paper it's printed on. I prefer to actually have hard goods such as food, water, tools, supplies, etc. That way I'm not gambling my life on the worth of US currency. That said, I will always keep at least $500 on hand and several hundred dollars worth of gold or silver on hand, both as a "just in case" factor rather than "I'll use this to buy things I need if SHTF" factor--have the things you need on-hand before-hand.
On a related note, I would never keep any significant amount of money in a bank. Way too risky for my tastes (I'd feel safer carrying it in a money belt), especially with the ease of identity theft and hacking these days. The banks closing down is just a minor worry.
Ok, the power is out and will be out for a good while so how do you plan to pay for goods and services that you will need until the power is restored??
How much cash do you need to have on hand to carry you over until electronic credit and banking is up and running again????
Small amount of cash and much more in gold and silver coins. Be ready to defend your money.
I take it this is based on cash will still be good??? One wrong move in Govt and all cash can be worth exactly nothing in paper.
A 5th of good whiskey would be worth a lot more than paper, to someone with a lot metal silver / gold maybe. But for paper??? maybe not...
For people who can't afford silver and gold and might not even want silver or gold and have room salt, pepper, booze and assorted other items might make decent trade items.
That might be pots and pans to bolts of material. I have taken bolts of wool before on trades.
Also to me it depends on how long the power is out. The power can only be out so long before the Govt behind it becomes as worthless as paper currency.
I would say if the power was out 6 + months the Govt behind it would be dead.... and any paper notes that govt issued would be as dead.
I take it this is based on cash will still be good??? One wrong move in Govt and all cash can be worth exactly nothing in paper.
A 5th of good whiskey would be worth a lot more than paper, to someone with a lot metal silver / gold maybe. But for paper??? maybe not...
For people who can't afford silver and gold and might not even want silver or gold and have room salt, pepper, booze and assorted other items might make decent trade items.
That might be pots and pans to bolts of material. I have taken bolts of wool before on trades.
Also to me it depends on how long the power is out. The power can only be out so long before the Govt behind it becomes as worthless as paper currency.
I would say if the power was out 6 + months the Govt behind it would be dead.... and any paper notes that govt issued would be as dead.
Mac, don't over think this topic.
What I was asking is for a time frame of something like a week or two.
Ok, the power is out and will be out for a good while so how do you plan to pay for goods and services that you will need until the power is restored??
How much cash do you need to have on hand to carry you over until electronic credit and banking is up and running again????
It's funny you should ask this because I was just thinking about this. I'd say a few grand, just to be safe, as who knows how long the digital world could be down. I'd, of course, try not to use any of that, though (I'm pretty amazing at living simply). And I suppose I'm thinking in terms of a large CA earthquake where houses might be flattened and I might need to pay for a hotel in a nearby city. Perhaps that's not what you're asking, though.
If my home were still standing and I only needed money for food and gas, beyond what's already in my kitchen and gas tank, I'd say a couple hundred, if that.
But even with cash in hand, it's going to be slow going for some things and no go for others.
So much these days rely on electronics and electricity. Gas pumps, many cash registers, etc.
So having cash and trying to buy something may be just as hard as having a credit card and trying to buy something.
You'll have to really hunt for business that can operate without electricity.
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