Emergency Cash

[Spaceman Spiff]

 . . .  I use my debt card for most purchases . . . 

You might want to think about a cash back credit card.  I have used a 1% MasterCard (just updated to a 1.5% Visa card) for most of my purchases.  The money I got back at the end of last year paid for more than a month of groceries.  I have it on auto-pay so I never run up debt or pay interest.

 . . .  An adventure travelers' wallet . . . 

Thanks Charlotte.  Great idea.  When I am in an uncomfortable area I have a decoy wallet in my back pocket, with my real wallet in a front pocket (uncomfortable so I am always aware of it).  This is a better idea.  Might look funny if I am digging in my pants it I actually need it, but who cares.  I'll have to do some experimenting.

 -- Spiff

 

[Randingo]

Got into trouble with credit cards a few years back.  With the debit card I am spending my money and when it's gone, well you know.  I do have one credit card I keep for emergency use.  But, i hope to never use it.

September 17th I will be moving into my car to save rent.  Hopefully this time next year I won't need a credit card as my savings should have grown by then.

I will be posting my financial progress here in the Money Matters Forum.

 

[Charlotte's Web]

Thanks Charlotte.  This is a better idea.  Might look funny if I am digging in my pants it I actually need it, but who cares.  I'll have to do some experimenting.

Spiff, the decoy wallet is still always a good idea.  I keep "decoy" cash at the ready, like you.   Hidden Pockets, aka Adventure Travelers wallets fill yet another need.
This Hidden Pocket must  *never*  be seen/used in public.  It is a sort of "safe" that hangs *secretly* inside your pants against your thigh.   It does not resemble other commercially made travel wallets, which are scoffed at by experienced adventure travelers!  
Try it.  You'll like it!

Charlotte

 

[Zil]

A professional highwayman once told me. "if I get a decoy wallet from my donor, I know there is a real one. And I will get that one."

 

[Spaceman Spiff]

A professional highwayman once told me. "if I get a decoy wallet from my donor, I know there is a real one. And I will get that one."

If it is a good decoy, he won't know it's not real.  Mine has cash, driver's license, credit card (real but not activated - he'd have to use it to find out), personal stuff (pictures, auto insurance card, etc.); all look real but nothing will identify me.

If I am held up, the smart thing is to give them what they ask for (figure it a costly lesson in not being situationally aware) and be thankful I got away unhurt.  I am more worried about pick pockets in crowded areas.

 -- Spiff

 

[Randingo]

Guess the best plan it to only keep small amounts on your person.  

I plan to hide the cash in a few different areas of the car.  Of course there is risk in that.  

Time and experience may change my mind, but that's the plan for now.

 

[kllcbosmetris]

I am working on Dave Ramsey plan to have six months of living expenses saved, a $5,000.00 emergency fund in the bank and some long term savings.  Not there yet.

I would like to have $1500.00 to $2500.00 in cash, small bills, stashed in the car.  I know its risky and it could be lost, but it would allow me to sleep easier knowing I have it.

Money in the bank is great until you need it and circumstances prevent your access to it.

If you are going to keep cash in your vehicle (or on you), do not keep it in small bills. Large amount of cash in small bills will be seen as drug money - and you may never see that $ again -- under some circumstances and traffic stops. If you are going to keep the funds in cash, $100 bills will be easier to explain to the police. Alternatively, I suggest prepaid cards where you can load up to $500. They are 'lose it and it is gone' style (similar to cash) and independent of your credit score or your bank accounts. You can wrap it up with paper and then ducktape the whole thing and hide it somewhere in the vehicle. Safer.

 

[deadwood]

Cash is King... I think it always a good idea to have some cash tucked away. On my person I usually have around $200. But when on trips in the van I like to have at about $1,000 stashed in the van somewhere. I don't know if I'll ever need it but if I do I will be glad I have it. If I don't ever need it then it was really no big deal to store 1k in the van as opposed to it sitting in a bank somewhere.

 

[rvpopeye]

A lot of plus and minus responses to this question.
Whatever you do , probably not a great idea posting it online............