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By Pat Henry – The Prepper Journal
It is the final backup plan for a lot of us in the case of a disaster. A generous supply of cold hard cash to buy our way out of trouble, pick up as many last-minute supplies as possible or to acquire resources that are unavailable to anyone with a credit card in a world where the electricity is out and the internet is down. We frequently talk about having cash for emergencies, but how much cash should you have if the grid goes down? What will you be able to purchase with your doomsday supply and how long would it last in the first place?
One of our readers made a recommendation the other day to have between $500 and $1000 in cash for your bug out bag and at the time it prompted me to consider again if this amount makes sense. In my personal preparedness plans I have a supply of cash but I am always trying to figure out if what I have is enough or too much. Will it even matter when TEOTWAWKI comes and how can I best use the cash I have to survive?
Why do you need to have cash on hand?
You want to know the time when you will need cash the most? It will be when you can’t get to it. How many of you right now have no cash at all in your wallets or purses? I used to be the same way. I never had cash and relied on the ready availability of cash machines or most often the ability to pay for virtually everything with a debit card. How convenient is it to never have to make change or worry if you have enough cash when with the swipe of a card your bank account funds are at your disposal. This is a great technological advance, but the problem is that this requires two things to be functioning. First, the card readers and ATM machines require electricity. If the electricity is out, neither of these two machines works. The second thing is a network connection. If the network is down, even with electricity the transaction won’t work and you can’t pay for goods or get cash from your bank.
In a disaster, one of the first casualties is electricity. This doesn’t have to be due to some cosmic solar flare that has rendered the grid useless, it could be as destructive and common as a fire, flood, earthquake, tornado or winter storm. It could also be from simple vandalism or perhaps terrorism. A major fiber optic cable was cut in Arizona back in February leaving businesses without the ability to accept payments. When the electricity is out, you aren’t going to be able to access your cash via the normal means so having a supply on hand is going to be a huge advantage for you in the right circumstances.
Even if there is no natural disaster, you are still at the mercy of your bank. What if your bank closes or there is a bank holiday declared because of some economic crisis. In any of these situations, if you are dependent on access to money that is controlled by either technology or physical limitations like a bank office it is wise to have a backup plan should either of those two conditions prevent you from getting cash.
What is cash good for in a crisis?
Continue reading at The Prepper Journal: How Much Cash Should You Have If the Grid Goes Down?
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