Recently by Lisa Bedford: Coming to a Location Near You: CivilUnrest
“Cash is king!,” a Chicago native told my husband one day. I hadn’t heard the term before but considering that our friend’s family was reputed to have ties to the mob, I wasn’t surprised.
I’ve thought a lot lately about the importance of having cash on hand. Severe weather and natural disasters routinely shut down access to banks and ATMs, and in fact, ATMs can be emptied of cash in no time by panicked customers. A worst case scenario, such as an EMP or economic collapse, would shut down banks for long periods of time. Even if the dollar was devalued, there would still be some value left in saved cash.
I recommend storing enough cash at home to get you through at least a week. In the case of an evacuation, this cash would be useful for hotel stays, fuel for your vehicle, food, supplies, and more. If hordes of evacuees descend on a town, your cash-in-hand might mean a good night’s sleep in a clean hotel room if a hotel manager decides he or she would rather have cash than payment by debit or credit cards. And forget writing a check in an emergency. Out-of-town checks are rarely, if ever, welcome.