With the convenience of using debit cards or mobile payment apps, it can be easy to forgo having cash altogether. But it’s a good idea to keep some cash on hand in case of an emergency.
In the aftermath of an emergency or a natural disaster, a power outage may render ATMs and credit card readers unable to process transactions. When this happens, stores and gas stations may accept cash as the only form of payment.
Cellphone service may also be interrupted, rendering you unable to pay via an app. Having cash on hand in an emergency may help ensure you’re able to buy food, gasoline or other needed supplies, according to Ready.gov.
How Much Cash Should You Keep on Hand?
Where Should You Store the Fund?
How Can I Add Cash to the Fund?