How Much Cash Should Always Be Kept at Home?

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Most people rarely have cash on them, let alone at home. However, there are always unforeseen events that necessitate having some cash on hand.

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Cash lets you buy gas, food, and medicine if your digital currency or banking systems are down. So, how much cash should you keep?

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You should always have at least $100-$200 on hand, which is enough to cover a few gas fill-ups, a delivery tip, and emergency expenses.

Minimum Cash

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Maximum Cash

Limit cash to 10% of your emergency fund or $10,000. The IRS will flag cash deposits over $10,000 per year.

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Ideal Amount

In a national emergency, having $1,000 in cash at home would allow you to cover immediate expenses.

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Depending on the individual, a sum less than $1000 is almost always preferred. There are insufficient justifications for keeping large amounts of liquid cash at home.

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Keep Your Cash Safe!

You'll want to keep your cash safe, no matter how much you have at home. To begin, you'll need to find safe havens for it.

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Use A Safe!

Ensure the safe is fireproof and watertight to prevent loss. If you don't want to deal with expired bills, make regular deposits and replace the cash.

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