Cash on Hand

[Kirk W]

It sounds like many of us keep large amounts of cash in reserve all of the time, or at least when we travel, even before the recent attacks on the internet. It leaves me wondering about the amounts kept around. We used to travel some with a couple who always had several thousand dollars stashed in various places around the RV, more than 20 years ago. I always thought that they were paranoid. This thread makes me wonder if I'm the unique one since we typically each carry $100 or so and pay for nearly everything with a credit card. Even with the recent extra cash reserve for possible internet issues, we still keep much less than $1000 around the house or RV in cash. Of course we are also not traveling at this time so if we were I probably would want a bigger cash reserve, I'd be interested to know if some would share or at least hint about how much you think is a good number. My initial thought was to have cash in an amount equal to 2 weeks of purchases. Any opinions?

[Bill Joyce]

We carry some cash because of my mother.  Whenever we visited her she would hand me $500 to $1000 in cash and I would pay for any meals out, etc., and she expected me to keep the rest.  When she died  a few years ago there was cash hidden everywhere.  Between that cash and getting our annual Costco Visa rebate in cash, I still have a few hundred in cash left.  I am more comfortable holding $200 to $500 n cash and am glad to not be carrying thousands any more.  

We rarely use cash for anything, preferring to use a credit card or an occasional check.  The debit card gets used to get cash in foreign countries, so I have to look up the pin number.  My father learned while being a banker that rich people used credit and kept their credit cards paid off.

I also figure that if things go downhill fast, I am not going to be one of the survivors.  

[Barbaraok]

11 hours ago, sandsys said:

I also make it a point to have some smaller bills on hand ever since I read about the guy who needed to buy a bottle of water but only had $20 bills and the seller would not make change. 

Linda

Getting smaller bills during the shut down in 2020 was really hard as the ATMs don't dispense ones and fives (at least BOAs doesn't)) so I had to find a bank that was open and stand in line in order to get small bills for tips for takeout, etc.    

Since I don't see anyone putting location information (which would soon be out of date) in their signatures, not sure how one could be located by reading this forum.

Edited March 7, 2022 by Barbaraok

[hemsteadc]

13 hours ago, franco-bolli said:

An old joke went "just because you're not paranoid, doesn't mean they aren't after you!"  Whoever they are..

I heard that as "Just because you're paranoid doesn't mean they aren't out to get you."

[k4rs]

2 hours ago, Barbaraok said:

Since I don't see anyone putting location information (which would soon be out of date) in their signatures, not sure how one could be located by reading this forum.

I guess I am the exception to this.  Every time I move I update my location using the Amateur Position Reporting System (APRS).  I guess I am not worried about potential theft because I have little cash on hand.  I prefer precious metals such as brass and lead 

Safe Travels...

[NewJerseyPatriot]

21 hours ago, NDBirdman said:

Got a ... poop load* of that too... hehehe.... sorry, couldn't resist.  Run on PMs already missed the boat, retailers I deal with can't hardly get any and are begging for ppl to bring it in, atleast in my neck of the woods.  $$ wise, atleast my bank, limits on what cash you can take out at one time, have for quite a while.  Anything much bigger than a k, they will order it for you, they don't keep large amounts on hand.  Atleast, that's what they told me.

I do agree totally with that sentiment.  Could be dangerous identifying your rigs for large amounts of cash, etc.  This is why I have and suggest a bank safety deposit box, you can always get to it even during/after any sort of run/cyber attack, etc.  Cheap insurance, think of it like part of fund diversification. 

If the banks are closed you are in it very deeply.  Better to have a good safe in your stick & bricks.  Use a safe deposit for documents, securities, etc., which will have no value if things really go south.  You could keep cash, jewelry, and precious metals there, in addition to having your portable emergency supply.

 

[Kirk W]

13 minutes ago, NewJerseyPatriot said:

Better to have a good safe in your stick & bricks. 

Most fulltimers do not have any such property. When we were fulltime the motorhome was our only home and everything we owned pretty much traveled with us. 

[sandsys]

5 hours ago, Barbaraok said:

Getting smaller bills during the shut down in 2020 was really hard as the ATMs don't dispense ones and fives (at least BOAs doesn't)) so I had to find a bank that was open and stand in line in order to get small bills for tips for takeout, etc.    

I asked for small bills when getting cash back at Walmart. No special trips required.

Linda

[rickeieio]

Our cash situation fluctuates.  Sometimes we have as little as $10k on hand, but very little in the s/b.  And no safe in the house either.  Our safe is on another property in an unlikely location.

I do however, have precious metals as described above nearby, in three denominations. .45, .357, and .22.  Well, and 12 ga.

[2gypsies]

38 minutes ago, rickeieio said:

  Sometimes we have as little as $10k on hand, but very little in the s/b.  And no safe in the house either.  Our safe is on another property in an unlikely location.

 

Wow!!!

[rickeieio]

Why not?  It won't earn anything in the bank.  Having ready cash has gotten be some bargains over the years.  As the old saying goes, "cash talks, BS walks."

We recently had a 24' x 60' lean-to added to our shop building.  Paying cash for a portion of it saved me about $3k.

[Barbaraok]

2 hours ago, sandsys said:

I asked for small bills when getting cash back at Walmart. No special trips required.

Linda

I don't shop at Walmart and I use one of the credit cards with a rewards feature at the stores I do shop at.   

[sandsys]

6 hours ago, Barbaraok said:

I don't shop at Walmart and I use one of the credit cards with a rewards feature at the stores I do shop at.   

We no longer shop at Walmart, either, but when we were sometimes overnighting in their parking lots we did go in and buy groceries and get extra cash. Now, we shop at Super Target and use a cash back credit card.

Linda

[Steven@146]

On 3/7/2022 at 7:33 AM, Kirk W said:

It sounds like many of us keep large amounts of cash in reserve all of the time, or at least when we travel, even before the recent attacks on the internet. It leaves me wondering about the amounts kept around. We used to travel some with a couple who always had several thousand dollars stashed in various places around the RV, more than 20 years ago. I always thought that they were paranoid. This thread makes me wonder if I'm the unique one since we typically each carry $100 or so and pay for nearly everything with a credit card. Even with the recent extra cash reserve for possible internet issues, we still keep much less than $1000 around the house or RV in cash. Of course we are also not traveling at this time so if we were I probably would want a bigger cash reserve, I'd be interested to know if some would share or at least hint about how much you think is a good number. My initial thought was to have cash in an amount equal to 2 weeks of purchases. Any opinions?

Hello Kirk, the wife and I usually carry $50 each or less on our person.  Have about $350 in cash available. In these times we are going to increase cash available to about $1000. We always use credit cards for fuel and road purchases, rarely use debit cards unless at a major retail store. We have 2 separate bank accounts, one local, one nation wide. We have three credit cards all from different banks or credit companies, one is a major gas station card. That is about as diversified as we get. We were just thinking, 32 gallon tank @ $5.00 = $160. With 5 tanks of fuel $800, we could get back to family, if needs be.

We don't stock a lot of non-perishable food in the RV. No place to put it and it adds a lot more weight for the RV to carry around. Most of the time, Only our children/family and a few friends know where we are at any given point.

Edited March 8, 2022 by Steven@146

[NDBirdman]

With gas/diesel skyrocketing, will we be able to fill our tanks much longer with cash carried on hand?  Will this cause fuel shortages?  When it gets announced we are shutting off (blanked out.... but y'all know the deal), I bet the price/availability of fuel is going to be crazy, what say y'all?  I'm heading out shortly to fill all tanks and am happy we just filled our 500 gallon LP tank.

 

 

(No, not a political question and don't make it one.)

Edited March 9, 2022 by NDBirdman

[Kirk W]

The subject of this thread was whether or not there is a need to keep some extra cash on hand with the possibility of internet attacks due to the turmoil in Europe. While gasoline & diesel prices may be something to consider in that decision, the politics of oil products is not so please stay on topic. 

[RV_]

On 3/6/2022 at 2:39 PM, NDBirdman said:

This is why I have and suggest a bank safety deposit box, you can always get to it even during/after any sort of run/cyber attack, etc.  Cheap insurance, think of it like part of fund diversification. 

Excellent suggestion bud!

[NDBirdman]

Apparently I did not see some removed posts, I wrongly assumed Kirk's post directly under mine was aimed at myself.  I was wrong.

 

My apologies to Kirk!

Edited March 9, 2022 by NDBirdman

[ARGO]

Safe deposit box was mentioned earlier. Note cash in a SDB is discouraged (not illegal) because it is not insured.  I always ask for a box up high, banks flood too. Or fire dept can I guess. 

[NDBirdman]

Hmm, did not think of that.  Mines on the bottom because of the weight.  Maybe I should remove anything paper backed to a higher box.  Thanks for the thought!

[gjhunter01]

On 3/7/2022 at 12:11 AM, sandsys said:

I also make it a point to have some smaller bills on hand ever since I read about the guy who needed to buy a bottle of water but only had $20 bills and the seller would not make change. 

Linda

If you needed the water bottle bad enough then just pay the $20 and tell him to keep the change. As long as you have cash you have options and depending on the situation you can decide how bad you want the purchase. No cash means you have limited options!

Edited March 9, 2022 by gjhunter01

[Pappy Yokum]

On 3/6/2022 at 6:37 PM, gjhunter01 said:

 

About 10 years ago, I needed a tow from a mud hole and the tow operator wanted $150 cash before he would hook up. Be prepared!

As above:

Frequently a poster on RV forums will complain about waiting __?__hours for roadside assistance from his Motor Club. The usual explanation is/are:  The Tow Service Operators may have multiple Motor Club contracts.  Some of those pay the Tow Operator promptly - some don't.  Some even "contest" the invoices they receive from the Tow Operator!  Then there's the "regular' customers who get "top billing" (no pun) if/when the Tow Operator is busy (eg: Hwy Patrol, state & local PDs, etc.).

The above is an EXCELLENT reason to carry cash!  Want or need prompt service?  Advise the Tow Operator you will be paying *CASH* or with a CC for the service ......*NOT* via your Motor Club ERS.

Note:  Know (check) if your vehicle insurance will reimburse you for the charges - and accept/reject (try other Ops for the fee) as conditions and/or your patience warrant.  (maybe ERS + an "incentive" ?)

Most of the above is/was available on the various Tow Operator forums.....when Joe Public could join.  Now, most charge a membership fee - and the member's affiliation (business name, location etc.).

.

Edited March 9, 2022 by Pappy Yokum

[hemsteadc]

On 3/8/2022 at 8:06 AM, NDBirdman said:

With gas/diesel skyrocketing, will we be able to fill our tanks much longer with cash carried on hand? 

You pay for fuel with cash?

[NDBirdman]

2 hours ago, hemsteadc said:

You pay for fuel with cash?

I have many times.  Point is if we get hit with cyber, etc, computers and financial institutions will be down thus credit cards/debit cards will be useless.  But I regress, don't intend to lead us astray with thoughts of bad things happening.  Sometimes, I just like paying for things with cash and watch youngsters that live by the debit card try to figure out how much change they owe you.... LOL

[Pappy Yokum]

Cash in your RV:

RandyA (HDT forum), his wife & dog barely escaped with their lives from a 2AM fire in their 5th wheel - which was completely destroyed in the fire.

A friend & his wife were staying in their 5th wheel while looking for a sticks & bricks - at a campground in Paradise, CA.  When the fire roared into Paradise and destroyed most of the town, they (also) barely escaped with their lives. They had just minutes to escape! Fifth wheel was completely destroyed (along with their daughter's, grand-daughter's homes...and the 3 homes he had previously looked at to buy). They left some valuable items behind in the rush to "get out".

"Greenbacks" hidden/stashed somewhere in the RVs may have ended up as - "Crispy-Cash"

Haven't used them in years, but makes me wonder if Traveler's Checks are still an option to cash - with the receipts kept separately somewhere (else) from the checks?

.

 

 

Edited March 10, 2022 by Pappy Yokum
typo corrected