Stash a $10 bill or 2 somewhere in your house for an emergency. Everyone has experiences in which a check or credit card won't do; and ATM machines do go out of order now and then. You might also stash a $10 bill in your car, in case you need gas, oil or a few groceries and are caught with an empty purse or wallet.
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I read somewhere that you should keep about 500. in cash in your home for emergencies. When we had the blackout last yr. here in MI I was very glad I had the money. Almost no businesses were open including banks. A grocery store & a gas station had generators so we were dependent on them. And we also get ice storms that can knock out power for about 3 days too. If you keep stuffing bills in your drawer every day/week it can add up very quickly.
Last year's multi-state blackout was a horrifying experience!! The very few stores that were open would only take cash as a payment. Imagine needing something as basic to survival as water and not having a way to pay for it.
If you have a preteen or teenager, without a job or access to his own bank account, having a bit of money at home for "emergencies" (what he considers an emergency, like going into town to a movie with some friends) is a great idea. We live in the country and can't always get to the bank (10 miles away) when the "emergency" occurs.
Very good advice, folks, but be careful where you stash it. I used to keep a $100 bill in my billfold for such emergencies, folded four ways and well-stashed, but after my third billfold got stolen I decided to give up the practice. I'd suggest buying a small fireproof safe and keep your important papers and emergency cash in it.
I live on a fixed income, so putting away money in my savings account is usually out of the question. HOWEVER, if you don't have a few bucks stashed away, you're set up for a money crisis and I found a solution that works for me. No more cutsie piggy banks. My house was broken into by some kids and that's the first thing they took.
My piggy banks are wrapped and stashed away for now, and I have replaced them with an oatmeal box kept in my canned food section. Another spot I chose is behind a picture frame for ones and fives. But my favorite one is an old funky canister in my cupboard that used to hold tea bags.
The secret is to have three or more stash spots. At the end of the month when I need gas or a few extra bucks for stamps, I have my change stashed and a few ones and fives. I don't put in too much, or I have to get into it too often.
I save my change mostly by tossing it in the bottom of my purse after a purchase. That's what will pay for my license tabs this month, whew! I often forget about those little surprises you have to pay for occasionally.
By Ardis Barnes
My friend used to keep an extra lunch box in the same cabinet with her 4 children's lunch boxes. At the end of the business day, the money was put in the extra lunch box which was metal and would have been safe in fire.
I started out using a 2-liter Coke bottle to keep change in. All of the change I got for a year went in the bottle. The first year I saved like $100 or so. The main reason I didn't have more was because I didn't save the quarters. The next year I got a bigger container and threw ALL of my change into it. The second year I saved about $200 and the next year about $250-275.
Since I don't have a washer/dryer at my apartment I "buy" change from myself. However much change I buy from myself I put cash in to replace it.
For fun I always roll my piggy bank on New Years Eve. :)
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