Emergency funds
Emergency funds. I'm at the point that I'm considering putting cash money in a safety deposit box rather than invest in CD's, money markets, or continue to get raped by the bank in a typical checking/savings account. What do you do?
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kimi wrote:What do you do?
Check the dictionary for definition of emergency funds. Don0 -
If "Cash," it would not be in a "Safety Deposit Box." (Might as well leave it in your account.)
It would be buried somewhere on my property.
YVMD.0 -
i kinda agree with Ken. cash wont do much good held in a bank setting if the bank gets locked up tighter than a bull's butt. you might as bury some mason jars in the back yard....and if i am going to save cash, i am going to make sure there is a fare amount of gold or silver commodites . currencies can drop out of sight faster than you can exchange it. 0 -
KenK/84Bravo wrote:If "Cash," it would not be in a "Safety Deposit Box." (Might as well leave it in your account.)
It would be buried somewhere on my property.
YVMD.
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discusdad wrote:i kinda agree with Ken. cash wont do much good held in a bank setting if the bank gets locked up tighter than a bull's butt. you might as bury some mason jars in the back yard....and if i am going to save cash, i am going to make sure there is a fare amount of gold or silver commodites . currencies can drop out of sight faster than you can exchange it.
Yep.
Paper, might as well be used as..............................................................................................................
Personally, I have plenty of Lead, beans, fuel, wood, water, etc. You know, tangible goods, or means to get by if it comes to that.
Well, you see where this is going.0 -
I blew my emergency fund on guns and whiskey. 0 -
kimi wrote:What do you do?
I keep it in my safe at home, don't need/want to wait for the Bank to open0 -
...don?t forget Buddy food, Buddy treats and Buddy toys Ken!! 0 -
Junkballer wrote:kimi wrote:What do you do?
I keep it in my safe at home, don't need/want to wait for the Bank to open
Yep. I can get into a safe a 2:00 AM in my house slippers.
Try that at your bank.0 -
ChrisStreett wrote:...don?t forget Buddy food, Buddy treats and Buddy toys Ken!!
He is covered.
Don't laugh. Anything happens to me, he is coming your way.0 -
Stash the cash where you can grab it and dash. 0 -
Don't trust the government! -- Don't trust business (banks)!
If we get to the point where money is no good, I'm betting on barter.
Drinking alcohol, ammo, guns, food, medicines, shelter, and a useful trade (gun repair, electronics, mechanics, medical care, etc).https://www.youtube.com/watch?v=jGJ7E0TkVa00 -
Not a problem Ken. 0 -
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i have several layers of liquidity. But I have enough at each layer to cover almost any emergency (or whim) that should arise.
I keep a handful of cash in a safe hidden on the property. Also a couple pounds of silver in the safe.
I have a chunk of money in my credit union account and a bit more in my capital one account.
I also have a hefty overdraft protection on my checking account.
So - a short walk, a short drive, or a longer drive...0 -
Lately going to money market accounts, waiting for the stocks to drop, to move back in the stock market. 0 -
2 things for you need to know about a bank.....when you deposit ANY money in a bank you turn ownership of that money over to them as an unsecured loan....you surrender LEGAL title to that money and it becomes a LEGAL asset of the bank and a liability they owe you AFTER secured creditors..... and.... any law enforcement agency can come in and get into your safety deposit box when they want....i would like to keep it all at home but that is not safe either ........ 0 -
I certainly don't recommend keeping "emergency funds" in a bank(or anywhere else that you don't fully control). In a real emergency, you'll most likely be denied access to those funds. I seldom allow bank accounts to hold more than $10K and pull the excess out to stash here and there in secure spots I can access on the run. 0 -
Specie is best long term - assuming that we enter a time of long term global catastrophe...
If you can read the writing on the walls - if you can see and hear the train coming - immediately get your hands on as much cash as possible - beg borrow leverage or steal - and acquire as much stable hard commodities as you can find...
Gold and silver and copper and platinum - coins and bars that are recognizable - preferably encapsulated or in a certified or govt packaging...
Mixed gem stones will work wonders short term.
The point is to grab and spend as much paper money as possible and spend it on needful things and luxury trade-able commodities as quickly as possible before the paper funny money is only good for wiping your behind.
Max out the credit cards and repeat.
Soon paper money will be worthless. Hyper inflation will result in a grocery bag full of cash for some baby formula or rice...
Liquor and coffee and tea and jewelry and portable CNG bottles and chocolate and cigarettes and tobacco and baby formula and insulin and pain meds and powdered milk and ammo and gun powder...
I will not bore you with the greater outline and bullet points - you know the rules and know what to do - it's doing it asap and going all in ahead of the tsunami that's difficult.
Mike0 -
All my emergency funds (cash/ammo/guns/food/etc.) are kept, properly secured, at home so they can be accessed 24/7, as needed. 0 -
"Cash" as we know it won't be around much longer. Buried money will have to be declared and exchanged for electronic credits soon enough.
Gold or silver might provide some short term barter power but again Governments will want to know where you got it and why you haven't previously declared it.
Bitcoin is "off the grid" so to speak but has no real value and could disappear overnight, many people even rich ones think it is a place to hide assets I don't.
Storing Booze, ammo, beans is viable only to a point.
The powers that be are on a fast path to make sure they eliminate the black market trades and get their hands on every dime they want. Being poor is an option.0 -
Years ago I started becoming what became known as preppers. I used to keep a quantity of TP, water and long term food to last year (or years depending if it was just the wife and I, or if family joined). Also had cash, small amount of precious metals and stones, and of course enough guns and ammo to keep myself going for many, many years.
But, back about 5 years or so ago I had an epiphany. I have severe back issues and take over 100mg of morphine daily just to exist in a still very painful state. How long would I want to last after I ran out? Over the many years I have been on them, I had very slowly ended up with a few extra here and there so now I have a small cushion in that regard. I made sure to also have enough of the things mentioned above to at least match that time frame.
This is semi-related to the OP.
When my wife and I take a road trip vacation, any cash we have is divided 3 ways. She takes a third, I take a third, and the vehicle stores a third. The thinking is the odds of all 3 getting hit are very remote.0 -
If you are familiar with members of the tabernacle or followers of Joseph Smith you will have borne witness to the largest group of organized peppers in north America...
Some ultra orthodox Jewish sects or enclaves in upstate NY and many Mennonite or Amish communities also incorporate such preparations into their daily religious practices.
At one point the society of / fraternal organization of Oddfellows mandated such behavior and practices into their communities and lives...
The montagnard tribes and the Masai practice similar ritual prepped behaviors and evince prepped practices.
European castle and keep and stronghold cultures and cathedral / warrior monk - monastery sects maintained siege supplies or crop failure reserves against disasters or plagues or wars...
Mike0 -
Two weeks ago, had Carpet put in, so we were moving, some furniture, a box fell out from under a old dresser from Gram-ma.
About 2 lbs of old Coins about 1/2 were older US silver coins from 1930's to 1950's.
Balance were foreign Silver, with some Swiss coins from the 1940's
Emergency Stash?
Still going through to see if anything is worth $$$0 -
Junkballer wrote:kimi wrote:What do you do?
I keep it in my safe at home, don't need/want to wait for the Bank to open
Yep, might as well keep cash in your safe after all guns are as good as cash and most all of us kept a lot of guns in our safes.
Like somebody else mentioned, when a bank closes it's closed you ain't gettin' into your safety deposit box or anything else the bank has.0 -
Let me add, my safe is huge with a spin dial, not worried about it being moved, I have shown my 2 grown grandsons (brothers) where the combo is written down if something happens to me and Grand-maw unexpectedly....the only way to get to the combo is tearing something apart so even if they were to get at it I'd know it was them so don't even try itSmitty500mag wrote:Junkballer wrote:kimi wrote:What do you do?
I keep it in my safe at home, don't need/want to wait for the Bank to open
Yep, might as well keep cash in your safe after all guns are as good as cash and most all of us kept a lot of guns in our safes.
Like somebody else mentioned, when a bank closes it's closed you ain't gettin' into your safety deposit box or anything else the bank has. . Once it's open keep their damn mouths shut about the contents and have happy memories of us :P0 -
I keep enough cash to exist for a year divided amongst the gun safes. Don?t see the point of an emergency fund being kept in a box that requires someone?s assistance and permission to access. 0
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