Should You Keep Cash On Hand For Hurricane Emergencies?

Why Cash Matters in a Hurricane

When a hurricane hits, power outages often last for days or even weeks. Without electricity, ATMs and credit card machines don’t work. This can leave you stranded without access to your money. Having cash on hand ensures you can pay for essential items like food, water, and medical supplies. Aim to keep at least $1,000 to $2,000 in cash, and consider breaking this amount down into smaller denominations ($20s, $10s, and $5s) to facilitate transactions.

Preparing Your Cash Stash

To prepare your cash stash, start by setting aside a portion of your emergency fund specifically for hurricane preparedness. You can also consider setting up a small savings account or a cash-only account that doesn’t require digital access. When you’re out and about, try to use cash for purchases whenever possible, and avoid relying on digital payments. This will help you build your cash reserve over time. Additionally, consider adding a small supply of coins, such as quarters and dimes, to your cash stash for smaller purchases.

Using Your Cash Stash Wisely

In the aftermath of a hurricane, cash can be a lifesaver. When shelters and emergency services are overwhelmed, having cash on hand can help you access vital resources. When shopping for supplies, try to use cash to avoid long lines and potential credit card processing issues. You can also use cash to pay for alternative accommodations or transportation if you need to evacuate. Remember to keep your cash stash in a safe and secure location, such as a waterproof container or a secure safe, to protect it from theft or damage.