Cash Is King In Emergency Situations

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]


    And if the economy collapses your money ain't worth the plastic it is printed on.
    If you are serious about emergency situations buy 10 ounces of silver or an ounce of gold if you can afford it.

      And in the case of a power outage like Sandy, an once of gold is useless for a tank of petrol and a few meals. Unless you can find someone to buy it, which would be hard as no one has cash.

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