Why you should keep cash “under your mattress”

Posted on March 2, 2007. Filed under: Money |

The Simple Dollar weblog emphasizes the importance of keeping an emergency stash of cash “under your mattress,” metaphorically speaking.

I keep a small pile of twenties in my home as my ultimate emergency fund. I keep this money on hand for the sole purpose of being available if I have no access to funds in any other way – in the event of an absence of electricity or some other essentials, a cash economy will dominate and I do not wish to risk being in that situation with no leverage to make sure my family has food, water, and protection.

This makes a good amount of sense. You’re obviously going to miss out on the interest gained through some other form of investment, but this is, as the author explains, an investment against the unexpected. Maybe it’s time I start hollowing out that book.

Why I Keep Cash Under My Mattress [The Simple Dollar]

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