I was wondering what people considered an acceptable amount of cash to keep on hand at home. Before people fall over themselves to yell about OpSec, this is meant to be purely hypothetical. What would you recommend to a stranger kinda thing.
I try to keep cash around, but my savings account pays 5.10% right now. It becomes a trade-off of throwing money away by keeping too much around versus how much I’d need in an emergency. Also, what kind of emergency? Let’s say a cyber attack shuts down the banking systems, how long would that last?
Right now I’m thinking somewhere around $500 - $1k would get you buy for food and necessities for a short time until systems come back online. If something major happens, it might be a good long while before you get money out of the bank again, but that seems hard to predict.
Thoughts?
I try to keep cash around, but my savings account pays 5.10% right now. It becomes a trade-off of throwing money away by keeping too much around versus how much I’d need in an emergency. Also, what kind of emergency? Let’s say a cyber attack shuts down the banking systems, how long would that last?
Right now I’m thinking somewhere around $500 - $1k would get you buy for food and necessities for a short time until systems come back online. If something major happens, it might be a good long while before you get money out of the bank again, but that seems hard to predict.
Thoughts?