Writing about our Emergency Fund got me thinking about financial preparedness…

– It’s always good idea to have some cash on hand.  No, not because of an impending bank collapse, but who knows what could happen tomorrow?  A natural disaster could knock out power, then how is Apple Pay going to help you then?

– Consider keeping at least $100/person in cash somewhere safe where you can access it in case of an emergency situation.  Many such situations resolve themselves (or get much more bearable) within 72 hours, so have enough to carry you through that.  You don’t want to be out of luck in an emergency when they can’t run your credit card because of a network issue or power outage.  Having cash on hand could mean the difference for you and your family in an emergency situation.

– While it’s good to have cash on hand, don’t go overboard.  Don’t store thousands of dollars in your home, where it could possibly be misplaced, stolen, or destroyed.  A wise, reasonable amount will carry you through most situations and help you cover the basics while credit isn’t available.