Why “cash” is King!

By on July 13th, 2009

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For anyone who wants to take advantage of basic “preparedness” skill, saving cold hard cash, is a must.

Today we are told that having cash is not safe.  Really?  If I’m not mistaken, identity theft is one of the fastest growing crimes in the world today.  If  you are using cash, it’s pretty tough for anyone to track your purchases and it leaves no trail behind for anyone to steal.   What % of violent crimes today, involve stealing cash?  Not the majority of them.

If you need to evacuate due to a storm or other emergency, cash will be an essential requirement. Most people live “cashless” lifestyles that depend on plastic. People carry lots of “plastic” money in the form of credit cards and debit cards but normally don’t keep any significant amount of cash on hand for a true emergency. Most, if not all, purchases are made with credit cards, debit cards, or personal checks.

During and after a major disaster or in an emergency situation, it’s very unlikely that there will be any merchants that are going to be able to process credit cards or validate checks. If people are selling items, they’re probably going to accept cash only. This simply means you won’t be able to buy anything if you don’t have cash. Check and credit card machines and electronic cash registers probably won’t be working due to power outages, etc. Don’t count on getting change back from a hundred dollar bill. Needed currency denominations to make change may be in short supply. It will be better to have smaller denomination bills ($10’s and $20’s) and plenty of change (rolls of quarters, etc.) available in an emergency.

Make sure you set enough aside to counter higher prices that may occur due to needed items being in short supply. Hotel and motel rooms will become very expensive in a short period of time, if any are still available. Gasoline and fuel prices can go up in a hurry and food items, including water and ice, will get expensive due to limited supplies and availability. Don’t count on any of your normal routines working during a disaster or emergency.

It’s the most liquid of all types of savings plans and you can even still get discounts when paying in cash.  Even if there is no emergency.
Bob Mayne
www.TodaysSurvival.com
www.TodaysSurvival.com/forum
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One Response to “Why “cash” is King!”

  1. Elcoj says:
    August 2, 2009 at 11:07 am

    Where are you from? Is it a secret? 🙂
    Elcoj