Have you ever found yourself in this position? You’re going through the drive-thru on an emergency food run, and found out that their electronic card readers are down, and they can only take cash? And when you look in your wallet…you realize you don’t have any?
That’s a pretty easy situation – you either drive to a new drive-thru or go to the store. No biggie, right? What if you’re out in the middle of nowhere, ran out of gas unexpectedly, and before you had a chance to stop at an ATM? You stopped at the Mom & Pop gas station, and they still haven’t moved past a punch button register, and only take cash?
When I shared about teaching our kids about Everyday Carry, and what they always needed to carry with them, money was important. And it’s important for you. Not only for everyday oopsies of not having enough cash on a temporary basis, but what happens if our credit cards just don’t work anymore. What happens if, a solar flare knocks out the electronic system. You could still buy stuff, even without the electronic system, but only if you have cash because they aren’t going to take IOU’s.
Or simply look to the economic calamity that is Greece or Venezuela or Japan after the tsunami, or any country with a natural or economic disaster. You can still use cash, but if your cash is locked away in a bank, you may not be able to get access to it at all.
So make sure you have a little cash stashed in your wallet for emergencies only. Stash some money in your bag someplace safe. Secure a roll of quarters someplace in your car, either in your emergency kit or just elsewhere, or both! Make sure you have some change at your office in case of a local emergency where you need extra supplies from vending machines, but don’t have $ because you didn’t get to the bank.