Many of us are conditioned to paying for everything by card, but cash still has a place — especially in the event of a natural disaster. Keeping “emergency cash” at home can be a useful backup if power goes out for an extended period.
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Noting that many people affected by Hurricane Sandy found themselves without immediate funds, the Consumer Reports weblog recommends keeping a small stash of cash in your home for emergency use. For large sums, you might use a commercial safe; for smaller amounts, something like a DIY book safe might do. I’d recommend keeping at least enough for a tank of petrol and a few meals.
If you know that a hurricane or is headed your way and don’t normally keep cash around, consider taking out enough from an ATM to get you by for a few days in case of a power loss.
Hurricane Sandy proves cash is still king in emergencies [Consumer Reports]
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