July has kind of slipped away from me with the medical issues but I don’t want us to miss one of our monthly challenges so this one will be more of a thinking than doing challenge.
The challenge is this: Think about what would happen if you woke up tomorrow and found that for some reason, we were operating on a “cash only” system.
I know it sounds like something that will never happen and I hope it never will but what if, for whatever reason, merchants were unable to accept credit or debit cards, some might or might not accept checks but basically, it would be cash only. How long would you last and what would you do?
Suppose the ATM machines worked for a while but after a few days, they were empty or not working either.
I’ve seen ATM machines not working many times . . during hurricane evacuations, and of course, when there was extended periods with no electricity.
When Hurricane Katrina hit Lake Charles, my nephew and a couple of his friends decided to ride out the storm at a friend’s house. There was no power for several days but once some of the businesses began operating again, they would only accept cash. No credit cards. No debit cards and no ATM machines were operational.
He called me . . I was in Kentucky and he was in Louisiana . . Aunt Judy, where can we get cash? I knew a few folks who had stayed behind so I told him I would try to get in touch with them and see if they would share some cash with him, on my word that I would send them a check to reimburse them. Getting through to anyone was impossible and by the time I had found someone local with cash to share, my nephew had figured out that he could drive about an hour or hour and a half and go into the local bank (a branch of his own bank) and cash a check.
We so rarely use cash. For our everyday use, we use a credit card that pays cash back and then we pay it off each month. But, in a scenario where we needed cash, we would be up a creek if we couldn’t get it from the bank.
My thinking is . . there’s not much we would need to buy because I can imagine that in that situation, things would be pretty crazy. Would cash registers even be working? Would grocery stores be able to scan food prices? Would gas pumps be working? I may be kidding myself but I think if there’s an extended time when cash is our only option, we’re going to be so far removed from options that it isn’t going to matter whether we have cash or not but . . I may be deluding myself.
Have you thought about something happening where you couldn’t get to your cash and your plastic wasn’t working? If it were only for a day or two, we would be fine. If it were for a week . . maybe not. I have no idea what would happen in our society if everyone had to use only cash.
Something to think about . . and discuss.
shirley bruner says
Well, I, for one, will probably be ok. I always have several hundred dollars available in cash. my sister laughs at me….while she never carries cash and only has a debit card. we’ll see which of us would survive the longest. hahaha
Tina in NJ says
When Sandy was on the way, DH and I topped off the gas in the cars and got out cash. A couple of days after the storm, the grocery stores were accepting credit cards on generators, but it was the better part of a week before most gas stations were up and running. What I missed most that week was hot showers. And microwave popcorn. 🙂
pdudgeon says
i make it a habit of always carrying some extra cash in my wallet, but i know lots of people who don’t, and who rely on the plastic to get them out of a jam. i do make it a habit to top off my gas tank whenever a hurricane is expected. we don’t use the car much, but i remember the gas lines after Katrina, and the traffic jams to get out of town. I have designated hiding places at our place to stash cash so that it’s available at a moment’s notice (like a hotel room if we need to evacuate).
we’re also on a designated savings plan to save about 3 month’s worth of extra cash at the bank as an emergency fund. that right there has saved me from several worry sessions in the past when we needed to have $$$ car repairs, or when i needed scooter transportation for myself due to my mobility issues.
As for the plastic, we use a debit card only for the convenience it offers, but have a total ban on using any kind of credit, period. even to purchase big ticket items, we just save up the money over time. LOL, it drives my local car dealership nuts when i come in to have my car serviced and don’t want to see the newest cars with all the bells and whistles. that’s how we all used to buy cars years ago, but most people have forotten how to do that now. It’s all a part of being prepaired.
Joyce says
Well, Judy I thought of you this week and your emergency survival plans this week because it has happened to us.
We live in Pateros Wa and the wildfire struck hear took out our home and we are now “enjoying” some of the recovery national disaster process. Never imagined that it would happen.
No ATM, bank lines are long, as every withdrawal has to be called in and checked.
We have cell phone service but at our town, they have not got the power on yet, maybe this weekend or sometime next week. Their was a limit of 4 gal of diesel at the pumps as many of us have diesel pick-ups in this country.
The responce has been wonderful and their are tons of things at the high school gym as long as you are not too picky, as I went looking through hoping for a dust pan and broom (none).
Of course, my two stoked freezers and stocked winter supplys burned to ashes and very quickly. We did not get evacuation notices, and drove away from our home with laptop, external hard drives, 5 labs and 1 horse and no feed for them, nno pictures, history, memorable items. Thats my fault! But fire comes quickly. It burnt a football feilds worth of ground every second. That is hard to believe and harder to watch. A firestorm they called it.
We are learning how the recovery programs work and finding that their are tons of wonderful, caring, people out there in our town and in the nation. We also have looters so– good, bad and ugly.
We are ok, staying at my sons on his mini farm and learning the hoops that we need to jump through. But have thought of you and your emergency ideas often.
Dottie N. says
So very, very sorry for your losses…..
sharon says
We are on the other side of the mountains. Please let me know when/if/what we can do to help
Shari says
So sorry for your loss. Please let Judy know if there’s anything that those of us far away can do for you. I’m sure there are many of us who would like to help.
Helen Koenig1 says
Joyce – am glad you all are ok – but am sad to hear of your loss. I don’t know if there is anything I can do, but if so, please give a yell!
Brandy M. says
{{{{{Joyce}}}}}
I’m so very sorry for the loss of your home! I know many people say “things are things,” but it is still a tremendous loss and one that’s not easy to go through. I will keep you in my thoughts…
Sherrill says
I think I’d be screwed (YIKES!! 🙂 I don’t usually carry a LOT of cash ($100 or less) because I have/use my debit card. I can remember when I was younger hearing of a ‘cashless’ society and thought that was such a stupid thought. WOW!! I was the stupid one. I am one UNPREPARED person here!
Toni Wood says
We rarely use a credit card and don’t have ATM or debit cards. We used cash for nearly everything from gas to groceries. We do have money squirreled away for emergencies. When Y2K was getting close we took two thousand out over a period of three months to cover us. We felt sure there would be a run on cash at the bank and there was!
Norece says
Really good topic to think about.
We have enough cash for three months of living. It is more than we would normally spend as I think there just might be some price gouging happening if we had to rely solely on cash.
We also keep cash hidden in the cars in case we get stranded someplace.
We don’t use credit cards very often, and when we do they are paid off when the bill arrives. I just don’t like the thought of “someone” knowing what I am buying.
LadyBaltimore says
And, I think, best to have emergency cash $ in ones, fives and tens and some twenties because change for large bills might not be available.
Sue S says
I usually have only a small amount of cash in my wallet. Carrying around LARGE amounts can get you mugged in the city! But we never let the cars get less than half full of gas and I have a freezer full of food. I stock up on stuff like toilet paper and toothpaste so I could probably live for at least a couple of weeks without needing cash except for things like milk and fresh fruit. It’s interesting to read about those who have lived through those natural disasters and how they coped.
liz says
My parents always had cash in the house for daily use and emergencies. Credit cards were always paid off immediately and the only debt was the house mortgage.
Their habits passed down to me. I have a small supply of cash in the desk drawer – the larger bills are actually stashed in a vitamin bottle. I know there is cash in it, but it’s not obvious. I try to keep a few bills stashed in the car for emergency. I increased the cash supply of smaller bills ($1 and $5) after the various big storms.
Happy Room Diana says
Some years ago we flew from England to San Fransisco only to find the whole airport in darkness, no luggage, no lights in the toilets etc etc.. But worse of all we could not buy a sandwich or drink as they could not use the tills and would not accept dollars cash as they didn’t know what to do with it!!
We always keep some cash hidden at home and I couldn’t bear to go out without cash in my purse, although I use credit and debit cards whenever I can and pay them off each month.
Tinkerfeet says
My grandfather taught us not to depend on banks or the government, so we always have plenty of money on hand in a safe. We would be fine since we live a long ways from any paved roads. So we only depend on ourselves.
Michelle says
A couple of years ago, an acquaintance was away from home when the bank detected that their debit card had been compromised and cancelled it. They had no cash, and no other way to pay for the gas they needed to get home.
Hubby and I make sure to keep more than one method of payment with us when we’re away from home. (Better to use a bank that gives each of us separate credit card numbers so if one card has a problem, they don’t both have to be replaced.) Relying on one piece of plastic with a magnetic strip makes me feel vulnerable. And it stinks to wait in line for an hour to pay for Christmas presents and then find out that the phone lines are out and the store isn’t processing credit cards.
Hunkered down at home, we could make it a while without much cash. I’m thinking that at that point we’d be doing without things like milk and fresh fruit.
sharon says
At home, I’ll be fine. But I rarely have more than $50 cash on me when I go out. We charge most everything as it gives us records, but then pay immediately when the bill comes. Yes, I am one who enjoys the comfort of not having to deal with cash. I’d be in a hard spot if my home was wiped out.
Please tell me, how do you feel comfortable hiding money in a car etc. Most criminals know all the places to look. My uncles used tin cans and a shovel as their bank as did a lot of the farmers. I wonder how many tin cans are still in the ground.
Norece says
We have sheep skin seat covers and I glued a small pocket on the inside of one of the covers near the top on the side. You can’t even tell it is there. There is only enough for a hotel room, food and a couple of tanks of gas.
Susan says
Joyce’s story reminded me of why I try to keep a bug-out bag in my trunk. And that I need to go check the dates on food I have in there! Another thing to consider having for emergency evacuation is a notebook with copies of all your insurance papers, birth certificates, and other important papers, as well as a list of telephone numbers you would need in an emergency. If you have printed photos of all the rooms in your house, with a list of your major belongings, that helps establish your insurance claims, too.
Dar in MO says
Good discussion topic Judy. I was taught to pay cash for everything growing up and I still try to do this. I do use my credit card for big purchases and occasionally for gas purchases if I am trying to conserve my cash in my pocket at the moment.
patti says
joyce, i’m in eastern wa so please let me know if there is anything i can help with. we’ve been watching the devestation on the news and know how hopeless it must seem. i’m catching up here because we had a mini disaster… 70mph winds took out several trees but our home was spared and there were no nearby fires. neighbors have gotten together to clear the roads, but we were wothout power, water, and phone for two days. we managed quite well as our tub was full of flushing water and cars full of gas. once the roads were cleared it was possible to drive about half an hour for anything that might be needed, nothing like a widespread disaster.
as for cash… i guess we could get by pretty easily for awhile with what we have on hand so $ wouldn’t come in to play. once it did tho, we would be somewhat limited as our cash is only a few hundred dollars and i would imagine that would go quickly… prices i’m sure would raise dramatically. with our small inconvenience i’ve seen the community band together to help. 40 homes down the road were destroyed by trees and when we dropped off supplies to the red cross we found that altho they had a facility for sleeping and showers (a school), the actual needs of individuals was mired in reports and red tape. we made a costco run and delivered canned food, paper goods and cleaning wipes directly to the people who had set up a makeshift kitchen and gathering place. now i know some of those immediate needs are being met.