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?
ABOUT KRIS SPEEGLE:
Aloha, As an Allstate agent living in Hawaii for most of my life, I know many local families. My knowledge and understanding of the people in this community help me provide the customer with an outstanding level of service. I love being an active member of our community with involvement in the Rotary of Hilo Bay (Board Member), Hawaii Island Chamber of Commerce, and Big Island Referral Network. I look forward to helping families like yours protect the things that are important – your family, home, car, retirement, and more.