So I'm guessing we have a few SHTF planners on this site, but I'm after the opinion of everyone: How do you decide how much physical cash to have on hand, and what's your particular reason for storing cash? Do you have a formula or estimation to base your answer on? I saw the Greece debacle and figure enough to last us a few weeks is really all that's necessary, but do you bug-out people keep more or less than that as a reserve, or none? It'd be interesting to note which PM's people stack too, and in which forms to understand how conservative vs wealth-driven Stackers compare etc.
I set aside the amount of cash needed for 1 month of living expenses + airplane tickets for the entire family to go back to home country. Just in case local banks collapse, for immediate liquidity. I never keep in a bank more than what is needed to pay the bills, anyway.
Remember to keep a range of denominations on hand rather than a big stack of hundreds and fifities. I keep a few bags of two dollar coins in various places, and if things got too bad, I have miscellaneous colored $2 coins that could be used.
If things get really bad, there might be more value in stacking canned and dry food, and in having a robust water filter. Better than paying exhorbitant prices for food with your cash stack.
I'm no SHTF prepper, not even close, but I always have cash on me and around me for those times when it's just more convenient, some place doesn't take credit, their POS terminal is broken, the system is down due to *insert reason here*. It's ridiculously handy, and countless times I've "come to the rescue" with cash when others have none. Especially useful on holidays when you should carry enough to get out of the poo and get home. Why? it's not fear, it's not SHTF prepping, it's just being ready for basic everyday experiences and annoyances, cash comes in handy for me on almost a weekly basis. And when it comes to SHFT prepping, if you are into that sort of thing, the most likely scenario is the banking system/power goes down for a few days. Cash is king. If I was a SHFT prepper, then yes, I would have a few months worth of cash. Cash is no good in the bank anyway, earns bugger-all interest, you might as well keep some of it yourself.
+1 Handy to throw a few bags in the glove box of the car too. I don't bother with 50's. 20's and 10's are the way to go. Even decent amounts take up hardly any room.
We, have 200 litres of fuel, 25 kg of rice in 5 kg bags, 4 tubs of honey, 2 kg milk powder, which all gets rotated, and some vegetables home grown. bread mix, salt, 5,000 litres fresh water. 2 grand in ten dollar notes, 2 grand in twenties, and 2 grand in hundreds. 1 x 2 kva honda generator, and enough clothing for a cricket team ! ( a family of four, ..... 3 adults, 1 lad )
This is why banks are considered to be too big to jail ... its not the banks we should worry about ... its our imaginations ...
Some great points in here, keep them coming. Has anybody Co sidrred the freeze dried bulk packs you can get? Works out to be about $3 per meal and lasts 25 years. I've certainly considered putting a few tubs in a cupboard and forgetting about them. I know in some of the storms over the past couple of years that food was off the shelves within a day and we were very unprepared.
I've started getting higher quality stuff, things that are actually nice and reasonably healthy, and rotating it regularly by eating older stores and replacing them with newer/fresher products. Not sure what others think of this idea, but it works for me.
Higher quality? Quite interested in where you're getting them. Also, did you basically stroll into the bank and ask for bulk coins and small notes or just build them up over time?
