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femvet59

Cash as a Prep

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Cash is King!

 

In a disaster situation, cash is king. I brought this up, because we don't ever seem to talk about this issue.

 

Of course, money is tight for most and we all have to make decisions about how to prep and what is most urgent. But, if we just start putting change away and maybe some singles, pretty soon it will add up

 

Remember Katrina?? Prices for water gas just skyrocketed.

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...because if things get real bad cash can go to the backseat to other things like supplies.

 

To me, this falls into the 80/20 or 90/10 category. What is the most probable situation after a major catastrophic event - a temporary shutdown of the systems (falls into the 80 or 90 percent category), or a total collapse of civilized life (falls into the 10% to 20% percent category)?

 

In the most-probable situation, access to your money in a bank may temporarily not be possible (at least for days - maybe even weeks or even months). But, it is most likely that the banking system will again be active at some future date. In the mean time, cash could become scarce, which will increase it's value. Certainly, if there is a total collapse cash might become worthless, but is that a high probability? I'm preparing for the 80% to 90% probability and keep cash in my bug out supplies.

Edited by LivingGray

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I'm with Gray on this. While in a real real SHTF situation we probably won't worry about cash. But even in that situation there will be a time before the severity of the situation sinks in and people still want cash, so you can trade that paper for things more valuable in the long term. But for most instances, having extra cash to last you a few days or longer in a hotel would probably be a godsend. Just my opinion.

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Cash is most definitely king here and forms an essential part of my BOB. When time comes to use that bag, that cash is surely needed to grease palms, secure transport and sundries on route to my destination. One important thing I suggest would be to make sure of plenty of small bills. At no stage do I want to appear to have a wad of large notes suggesting "large score" to any undesirables out there. Even a large roll of 5's may only total 75 and probably not be worth the edge of any blade I visibly remove first to pay if/when I'm on this journey. I see the banks here as being possibly the weakest link in any social situation in China and I really don't want to be lining up in the event of a bank run as my "targetability" would be huge. Petty thieves abound in this neck of the woods and at times of crisis petty turns to dangerous pretty quick, they also run in packs. To that end, my cash situation is already fairly sophisticated.

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I keep a roll of nickles, dimes, and quarters. Along with $100.00 cash in mixed bills. (Mostly small bills with one $20 bill just in case.)

 

LivingGray has probably the best explanation that I can give. Total collapse isn't as likely as a temporary one, and if a total collapse does happen then the last thing I am going to be worried about is if my cash is worth anything.

 

For a total collapse I suggest that people seriously look into what is sometimes considered junk silver. (Essentially old silver coins) Between that and lead (the firing kind :D) you will have at least some currency for a total collapse. Having some gold is OK too, but keep in mind that if things are that bad manypeople won't be willing to make change for anything that you want. What it costs is what you have on you type thing.

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Put me down in the "cash on hand" column. I try to pay cash for all my preps anyway except for the on-line ammo purchases discussed elsewhere. Small bills are best as noted above, and for the moment I not converting to the gold and silver route, both because of the cost and because I lack the tools and training to distinguish the real thing from trash.

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Put me down in the "cash on hand" column. I try to pay cash for all my preps anyway except for the on-line ammo purchases discussed elsewhere. Small bills are best as noted above, and for the moment I not converting to the gold and silver route, both because of the cost and because I lack the tools and training to distinguish the real thing from trash.

 

Just in case you do get interested in precious metals, here is how you test:

1. Buy the acid test kit, readily available on the net for about $15. Tests all PM's

2. Buy a small scale which weighs anything from grams to oz's ( $50-$100).

 

Both are simple to use. You do need both!!! I recently ran across some Peace & Morgan dollars which looked right, had lots of wear and tested positively for silver. Good, right? WRONG!!! Turns out they were light in weight. FAKES!!! The dealer was honest and told me they were the supposed "silver" dollars which you used to get from the casinos. OLD fakes!!

 

So, for anybody who has Morgans& Peace dollars, you might want to take a closer look. On the other hand, UNLESS you weigh them, they will test + for silver.

 

Best is always to deal with a reputable dealer.

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cash is good especially for the initial stages when you need to buy stuff before it gone, use up credit cards first then cash.. if it is trully an end of civilization scenario then even cash will eventually be useless. long termIi plan on barter being king, that and silver as silver is more practical as a currency than gold. but barter will be your best route, water, food, TP, ammo, medicine, and other such goods will be the new gold.

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Cash is a good thing to have laying around in small denominations in case of regional emergencies. Money talks when the system is still intact. So you may need to buy something when there is no power. But as has been said, for TEOTWAWKI, cash probably will be worth more as a firestarter.

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cash is king

 

my plan is to take advantage as well as help others at the local level I buy a lot of new in the box

stuff because people did not see the need for it I bough a pocket nebulizer for a dollar new in the box

looked it up value of 150 bucks I am always scrounging for hand tools and odd items

I realize that many of you are employed {poor bast@rds} but i feel for ya I noticed when your free to

wander in the day light you come across great deals and people are hard up for cash

I have been buying blue barrels for 10 to 20 bucks fill them in the green house put a plywood box

over them and I have a shelf / plant table with water stored

 

if we are truly preppers then having cash is part of any good plan.

I deal in cash a lot and find good bargains resale and junk shops garage sales and mom and pop

stores having it on hand as well as stored i have a fake wall receptacle safe for paper and all over

I have rolls of coins.

and 2 other safes and planning on a cheap wall safe 30 bucks put a grill over it and wala its a vent.

 

when the eagle sh*ts I get it in all denominations when wrangling a deal it's hard to get it for

4 bucks when you got the 5 they are asking for it in your hand.

bought oil lamps for 4 and 5 bucks in brass and glass i have the metal miners ones also but I like the

old style ones for my home got a half case of mason jars for 2 bucks w/ boxes of lids and bands

found many items at flea markets I do not like to buy chinamart when I can buy from locals

bought a bunch of ammo from a flea market good stuff ex was liquidating her exes stash,

as well as bandoleer kits w/ cardboards guide and stripper clips 2 bucks

bought a 5 gallon can of kerosene had 4 gallons about for 10 bucks.

but the one that knocked my hat off was a cast iron corn sheller for 5 bucks goes with my grain mill

i got for 27 bucks at an auction

 

I say i am a prepper but I am also a

pack rat but not a hoarder if its junk its junk and a couple of time a year I clean house and compact

as well as sell off some things that I replaced with better or have to many of .

 

And cash is king and for as long as it has a value I am going to have it and use it.

If I would have paid new or retail I would not have been able to amass my {collection}

my other says shes going to the hardware store she means the shop it take a lot to keep a country place

going but If I have a project I do not like to have to make trips to the store all the time..

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Hi, Snake

 

I'm with you. Paying retail is a suckers game. I've made a good living on buying undervalued goods at Flea Markets, garage sales and from small Antique shops.

 

Found an extremely rare 1780's tea caddy for $7, value 2500-4000

 

A painting by a listed artist for $25, value $1500-2K

 

Those are probably my best finds, but routinely 200-500 items that I get for 10cents on the dollar.

 

Especially at this time of year you can find amazing deals.

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Perhaps it would be helpful to devise a scale of probabilities where we can easily plug in the relative importance of various factors. Such a scale is easy to construct (use Excel) if we start at the bottom with a 100% probability that something will occur (which means that there is a 0% probability that it will not occur) and end at the top with a 0% probability that something will occur (which conversely gives a 100% probability that it will not.) At the half way point we would have 50% probability that something will occur (which also gives a 50% probability that it will not.)

 

Start with a vertical line. Mark the bottom 100% and the top 0%. Then at increments of 10, put marks along the line and designate them with the appropriate next Percentage. This will leave 10 lines between each percentage where we can plug in the survival-dependant issues that we need to improve.

 

Once the scale is done then we can plug in the factors that we want to look at. This is a subjective process at best so we need to be very honest with ourselves (else we are the only ones that we will hurt.) If a factor falls into the 10% probability that it will occur, we need to rate it as such, and enter it near the top of the line - at the appropriate place on the scale. If a factor has a 90% probability that it will occur, we need to enter it near the bottom of the line – at the appropriate place on the scale.

 

So why go to all of this trouble? An excellent example is earlier in this thread. Something that seems to be obvious at first glance may well not be after giving it some thought. Once we have our factors rated, a quick glance at the scale will tell us where to allocate our time and money resources in a more beneficial manner. We can use this site to get feedback as to the reality of our choices.

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For short term things cash will be king.

The longer the scenario runs the less useful cash will be, as barter becomes king. (you can' eat cash...)

 

To be truly prepared we need to have some cash available. Remember there is always plan a,b,c,d, etc. We just do not know what is ahead!

 

That begs the question of how much cash to stash? I envision about $250 in paper and coin in each person's bug out bag, and access to more substantial amounts of cash cached if needed. Admittedly it will take awhile to accumulate that kind of cash, but it will get there if you make it a priority.

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In my opinion, for what that is worth, the most probable scenario is a runaway inflation rate that will rapidly devalue cash and savings. So, yes, you need to keep a certain amount of cash on hand. But if you are at a time in life where you have started building a savings account, then as part of your preparations one should be thinking about how to protect that savings from the ravages of inflation.

 

Those that mentioned silver coins, junk silver, etc. have the beginnings of a good hedge.

 

I spend a lot of time monitoring the direction of our economy. Partly because my business is directly tied to how good/bad it performs. My guess right now is there is a 1 in 5 chance of inflation starting to show late this year. Food and fuel are the forerunners.

 

In 2 to 3 years the chances rise to 1 in 3 of significantly bad inflation taking hold. (Assuming the Mayans are incorrect and we survive that long :rolleyes:)

 

As an anecdote, I happened to be out this past weekend and decided to stop in a place I have used before to inquire about 1oz ingots of silver. The fellow was completely sold out and related that for the last couple of months he has been unable to keep it in stock. The same was true for two other places I tried. Hmmmm....

Edited by Rod

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