No, I'm not talking about food, water, or weapons. I'm talking about having a stash of emergency cash.
You know life is unpredictable. Cars break down for many reasons — yes, that car that you need to get to work every day. Do you have the cash to fix it? Children get sick or hurt. Medications get more expensive every day, as well as medical care. Not to mention the possibility of a long term disaster without food or water. Cash is still the best barter item, along with precious metals.
According to a recent survey released by Bankrate, 63% of Americans do not have the emergency savings to take care of a crisis that costs $1000 or more. How do people handle unexpected expenses?
Without an emergency fund, you are one missed paycheck from disaster. That's why it’s so incredibly important to always have a stash of emergency cash on hand.
This is where creativity comes in. You must store your cash as inconspicuously as possible; somewhere where it isn't easily accessible or identified. Never keep your emergency cash stored anywhere in a master bedroom — that’s the first place criminals go when they break into a house.
The more creative you are, the safer your cash may be.
Amazon has pages of ideas for hidden safes. In browsing through these, I found many of them to be very creative. Now, if I could just decide which one or ones would be the best for us.....
These SentrySafe 7250 Waterproof Floor Safes, which I recommend, have double locking bolts and combination locks.
Another of my favorite options is to hide your cash in plain sight by using a wall safe that’s disguised as a picture frame or an electrical box.
However you decide to store your cash is, obviously, up to you, but the most important thing is that you start building up your emergency stash today. If one day you turn on the news and discover the banks are closed and ATMs have run dry, you’ll be grateful that you planned ahead.