Sunday, August 16, 2015

An Emergency Stash of Cash

Not to be confused with an emergency fund........Do you have one?  I am starting one.  A Christian financial planner that I listen to regularly suggests having some cash on hand in case of a disaster happens in your area and the area loses power.  We here in North Carolina are no strangers to tornadoes and/or hurricanes.  Throw in some ice storms and we can and usually lose power.  In 1996 we lost power for 8 days when Hurricane Fran came through.  Most folks didn't think it would still be hurricane strength 2 hours inland but it was.  None of the businesses had power, no banks or grocery stores.  Cash was king.

So now I am starting an emergency cash stash in addition to my emergency fund.  Some suggest 1 month of expenses.  I personally think that is a bit much but hey if it makes you feel better, go for it!

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