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Question about Cash
- Thread starter Mr. Gold
- Start date
rep308
NES Member
Why Cash, try this:
Contractor: It will be $1100 to fix and replace your whatsit
You: What's the cash price, $100 bills
Contractor: Oh, that will be $900
That's why cash and what Mr Snowden said about credit card tracking.
Contractor: It will be $1100 to fix and replace your whatsit
You: What's the cash price, $100 bills
Contractor: Oh, that will be $900
That's why cash and what Mr Snowden said about credit card tracking.
What's different about the situation in Greece is they use the Euro--a currency backed by multiple countries. So while Greece is defaulting, the currency they use still retains most of its value and can still be used. If the US defaulted like Greece then the US currency would be near worthless.
So while it's good to have cash on hand, in a situation as bad as what Greece is experiencing, the cash would have little value.
So while it's good to have cash on hand, in a situation as bad as what Greece is experiencing, the cash would have little value.
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P-14
NES Member
Max out the ATM twice a week. In 10 weeks, you'll have your cash and no one will care. ![[wink]](/xen/styles/default/xenforo/smilies.vb/002.gif "Wink [wink]")
Rinse and repeat as necessary.
You have to plan these things a little before the ATMs take your card and you're limited to 60 Euros a week.
Rinse and repeat as necessary.You have to plan these things a little before the ATMs take your card and you're limited to 60 Euros a week.
FrugalFannie
NES Member
Citizens Bank has no daily withdrawal limit from cash machines. Even if you are capped at a specific ATM. I know for certain you can withdraw $600 from their ATMs at one time. Take out some cash every couple of days. Have your wife do it to. And don't use your cash to purchase stuff. Do your usual shopping with you r credit card or atm card.
So where I should keep the cash? I'd hate to keep it all in my safe or hidden in my house somewhere. Ever have a fire and I'm screwed lol. I got a fair amount of money in the bank and withdrawing most of it through an ATM and getting all $20 bills, that would add up lol. Do most of you guys just keep all your money/savings stashed away in the house somewhere?
Varmint
NES Member
Small fireproof safe just for cash and documents.
I have a safe I bought at Home Depot for 150. It weighs 87 lbs, rated at 1700 degrees for one hour and bolts to the floor and wall. Manual combo/key entry. It's 1.2 cu ft inside.
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Must be this one you bought.
http://m.homedepot.com/p/SentrySafe...ation-Dial-Lock-in-Black-SFW123DTB/202988374/
This one is nice too. Has loud alarm, LED lights etc.
http://m.homedepot.com/p/SentrySafe...Digital-Alarm-Safe-Black-SFW123UTC/205865404/
Yep that's it. I stay away from the digital locks.
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Varmint
NES Member
i wonder if it's better to just hide it somewhere, or at least not put it near the gun safe?
headednorth
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Ideally, put it in a safe and then hide the safe. The most secure safe is the one that no one knows is even there.
Yeah good point.
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I'll have to find a place for it. I don't have many good hiding spots out of site, other than closets which isn't ideal.
JayMcB
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don't underestimate the value of your clutter.
In my attic it would no kidding take hours or even days to go through every file box, x-mas tree decorations box, clothes, etc. and all the other assorted crap that people accumulate over time.
What about that tower stereo speaker from your surround sound system? I could hide as much cash as I ever would want in a pair of those.
linen closet?
duct work, real or 'added'
how about the bottom/back of a stand up freezer, wrapped in foil. Cold cash.
hollow out an old dead window AC unit
empty paint cans or even a 5 gallon paint bucket. Would people look in the bottom of a bucket of ice melt?
under the insulation in your attic?
hollowing out (literally) a mattress foundation?
if I had the cash, there are a LOT of places I could think to hide it.
headednorth
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Not bad ideas but just a few things to look out for.
- dont hide cash in something that a burglar might be tempted to carry away, like a speaker.
- the cash in the freezer thing is pretty common, as are fake aerosol cans with the screw off bottoms.
- be careful hiding cash in basements or ductwork due to exposure to moisture or rodents.
- make sure whatever youre stashing it in doesnt get tossed out by a spouse looking to de-clutter.
- may sound funny, but if you spread it out over multiple spots in the house, dont forget where they all are.
- an acquaintance of mine spent some time in jail with a kid who did housebreaks for a living. The kid said he would make a bee-line for the bedrooms and check inside any shoes in the closets, supposedly a common hiding spot. Caught my attention as at the time, I had some cash hidden in an old pair of workboots in a walk-in.
- dont hide cash in something that a burglar might be tempted to carry away, like a speaker.
- the cash in the freezer thing is pretty common, as are fake aerosol cans with the screw off bottoms.
- be careful hiding cash in basements or ductwork due to exposure to moisture or rodents.
- make sure whatever youre stashing it in doesnt get tossed out by a spouse looking to de-clutter.
- may sound funny, but if you spread it out over multiple spots in the house, dont forget where they all are.
- an acquaintance of mine spent some time in jail with a kid who did housebreaks for a living. The kid said he would make a bee-line for the bedrooms and check inside any shoes in the closets, supposedly a common hiding spot. Caught my attention as at the time, I had some cash hidden in an old pair of workboots in a walk-in.
JayMcB
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if you're going to use the attic/basement, spend 20 bucks on a cash box (metal) to rodent proof it.
If you're on this forum, you probably have a food saver, which will seal out any moisture. Put the sealed packages of PM/currency in the cash box.
That's why the paint can/bucket will serve both.
And if you're hiding stored cash from your spouse, get your shit together and prep together.
allen-1
NES Member
If you're putting away substantial amounts, or semi-substantial amounts of cash or metal, think of it as part of your estate - make some sort of provision to let your kids know where it is in case you and your wife die suddenly... (sorry to bring that depressing thought, but it's there).
Storing large bundles of cash is not a great idea, you are losing money even faster than in the bank at 0.1% interest, and for the average citizen, cash-on-hand has a significantly higher risk of loss.
Cash is best used to buy things. If you must store "money", consider putting it in the form of something like 1947 Walking Liberty Half Dollars (90% silver, each coin has .715 troy ounces of Silver). Less likely to be eaten by rodents than a pile of twenty dollar bills.
Cash is best used to buy things. If you must store "money", consider putting it in the form of something like 1947 Walking Liberty Half Dollars (90% silver, each coin has .715 troy ounces of Silver). Less likely to be eaten by rodents than a pile of twenty dollar bills.
Varmint
NES Member
Since the likelihood is high of a state-sponsored hacker shutting down our ATMs (and EBT cards), I think you want some cash on hand. Unless the local gas station takes silver.
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Any business that is not "owner operated" with the owner present will not be inclined to barter, unless the clerk has cash, and an interest in making a private deal.
I'll bet you could offer the clerk at any chain fast food place a krugerrand for a meal, and they wouldn't take it today.
Owner of independent service station in my town would happily take silver for gas
"Some" cash is good. Storing large bundles of cash is not. Both of these measures are highly subjective, how much folding money you keep should be relative to your available funds, your risk tolerance, your level of paranoia.
What I'm really saying is that any cash you hold in the form of modern currency, don't think of it as an investment, but rather as a depreciating asset.
"Some" cash is good. Storing large bundles of cash is not. Both of these measures are highly subjective, how much folding money you keep should be relative to your available funds, your risk tolerance, your level of paranoia.
What I'm really saying is that any cash you hold in the form of modern currency, don't think of it as an investment, but rather as a depreciating asset.
P-14
NES Member
Varmint
NES Member
Did you see John Wick? He used a gold coin to get in a night club (and other things).
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Do you consider Treasuries an investment? Cause at 0.58% interest, the 2 year bond is a depreciating asset.
In my opinion, interest rates given for your money doesn't even factor into the decision to hold cash. The amount you get is just not worth the risk of a Greece like situation happening here. The big factor for me is risk of loss - fire, theft, etc. Interest rates? Um no.
headednorth
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