Should You Keep Cash in Your Survival Kit: Essential Preparedness Tips

In the midst of planning your survival kit, you might wonder whether including cash is necessary or wise. While food, water, and other emergency supplies are the non-negotiable core of any kit, the decision to carry cash might initially seem like an afterthought. But consider the possible scenarios where cards and digital transfers could fail: power outages hindering ATM and POS systems, or network disruptions rendering mobile banking inactive. In these instances, cash could be a crucial resource for necessary transactions.

The practicality of keeping cash in your survival kit relies on the type and duration of an emergency. For short-term crises, enough cash for basic goods and services might suffice, while long-term situations could require a more substantial sum. However, the presence of cash introduces additional considerations, such as the safety of your funds and the best ways to store them. You’ll want to strike a balance between having enough cash to be useful and not so much that it becomes a liability.

Key Takeaways

• Cash can be an essential part of a survival kit for transactions when electronic options fail.
• The amount of cash to include varies based on the emergency’s nature and anticipated duration.
• Proper storage and safety measures are imperative when including cash in your kit.

The Importance of Cash in Emergencies

In an emergency, your ability to pay for goods and services can be crucial. Here’s why keeping cash in your survival kit is a smart move.

Immediate Transactions

When time is of the essence, cash can be your fastest means to procure what you need. Able to be instantly exchanged, it doesn’t rely on any third-party authorization.

Power Outages and Electronic Failures

During power outages, electronic payment systems may fail. Your cash ensures you’re not left at a standstill; you can still make purchases when digital systems are down.

Banking System Downtime

Banking systems are not immune to emergencies and may suffer interruptions. Having cash on hand means you maintain purchasing power even when electronic banking services are unavailable.

Determining the Amount of Cash to Include

There’s no one-size-fits-all answer to how much cash you should pack in your survival kit, but by assessing your needs and budgeting for emergencies, you’ll find the right balance.

Assessing Your Needs

Think about the essentials you might need to pay for if ATMs and credit card systems are down. Start with your daily expenses like food, water, and shelter. Then, consider the additional costs of unforeseen circumstances, like transport or emergency lodging. Make a list of your basic daily costs and add a little extra for unexpected needs.

Budgeting for Emergencies

When it comes to emergencies, having enough cash to cover three days to a week of expenses is a general guideline, giving you breathing room to navigate the initial aftermath of any crisis. To calculate this amount:

• Determine your average daily cost
• Multiply this by the number of days you want to cover (usually 3-7 days)

For a longer-term crisis, having cash to sustain you for up to six months might be wise. Estimate your monthly household expenses and multiply by six. Keep this tucked away with your emergency supplies:

Always use smaller bills—nothing larger than $20—to ensure you can make transactions smoothly without the need for change.

Best Practices for Storing Cash

When you’re prepping your survival kit, including cash is crucial, but it’s not just about how much—how you store it matters just as well.

Safe Storage Options

Your money’s no good to you if it’s lost or stolen. A clever approach is to use a Concealed Carry Pouch (CCP) or a decoy wallet to trick potential thieves. This wallet should contain a few singles to avoid suspicion. For larger amounts, consider splitting cash into multiple stashes in different locations to lessen the blow if any one cache is compromised.

Preventing Damage to Cash

Cash is vulnerable to the elements, so it’s essential to protect it:

• Waterproof containers: Seal your bills in zip-lock bags or waterproof pouches to prevent water damage.
• Fireproof options: While more challenging, keeping cash in a fire-resistant bag or safe can shield it from fire damage.
• Burying: If you choose to bury some of your cash, place it in PVC tubes or other containers that are both airtight and watertight to protect from moisture and pests.

Currency Considerations

When disaster strikes, having cash on hand can be a vital part of your survival kit. Let’s talk about why your local currency can be a lifesaver and how to strategically pick your bill denominations.

Local Currency Advantages

Your proximity to home doesn’t always guarantee access to your usual financial resources. In case of emergencies, local currency holds several key benefits:

1. Accepted Everywhere: It’s the most widely accepted form of payment when electronic systems fail or if you cannot access your bank.
2. Immediate Transactions: With cash, you can swiftly procure goods and services without the need for verification or processing times.

Diverse Denominations

Having a variety of bill sizes in your survival cash stash is crucial. Here’s how to diversify:

• Small Bills: Useful for everyday items and avoid the need for change.
• Larger Bills: Can be necessary for larger purchases or in cases where sellers might round up prices due to scarcity of goods.

Mixing denominations prepares you for a range of financial transactions without the stress of overpaying or underpaying. Keep your cash divided but easily accessible in your kit.

Alternatives to Cash in Survival Kits

In your survival kit, cash isn’t the only form of value – consider other items that could be used for trade or as emergency currency.

Barter Items

Barter items are goods that hold intrinsic value and can be used to trade for other essential items in the absence of cash. Here’s a rundown of some items that are typically desirable for barter:

• Water purification tools: Clean water is a fundamental need.
• Batteries: Different sizes, as they can power critical devices.
• First-aid items: Bandages, antiseptics, and small medical tools.
• Non-perishable food: Canned goods and energy bars.
• Sanitation supplies: Soap, toothpaste, and sanitary wipes.

Keep these items in moderation in your kit; they should complement, not replace, your basic survival supplies.

Traveler’s Checks and Money Orders

While not as common as they once were, traveler’s checks and money orders still offer a secure alternative to cash. Here are some specifics:

• Traveler’s Checks: Safeguarded against theft, these can be exchanged at banks and some commercial establishments.
• Money Orders: These are pre-paid for a specific amount and, while less fluid than cash, can provide a secure alternative.

Both forms are less useful in a scenario with no banking or commercial service, but can fill a gap in less severe situations.

Safety Concerns

When you stash cash in your survival kit, security becomes a prime concern. You need to keep your money out of the wrong hands without losing access to it yourself.

Theft Prevention

To safeguard your cash, be discrete about its presence. Store it in a nondescript compartment within your survival kit. Consider these methods:

• Hidden Pouches: Use inner linings or hidden pockets in your backpack to keep your cash out of sight.
• Diversion Safes: Items that look like everyday objects but contain a secret compartment for cash can be effective.
• Portable Safes: A small, lockable safe can provide a secure place for your money, but it adds weight to your kit.

Maintenance and Regular Checks

It’s not just about having cash in your survival kit, you’ve got to keep it current and relevant. Money’s no good if it’s outdated or unusable when you need it most.

Periodic Updates on Stashed Cash

Frequency of Review: Set reminders to check the cash in your survival kit every six months. This aligns with the routine updates you should be doing for the entire kit, so it’s easy to remember.

Storage Tips:

• Keep cash in a waterproof container.
• Include a mix of bills; small denominates are often more useful in emergencies.

Validity of Currency

Check for Changes: Occasionally, currency designs change or old notes get discontinued. Keep an eye on the news or sign up for updates from your country’s treasury or central bank to ensure your cash is valid.

Exchange Outdated Notes: If you find out that a particular bill is going out of circulation, swap it out on your next bank visit. You want to be sure every dollar in your kit can be spent without a hitch.

Conclusion

When settling on the essentials for your survival kit, cash should be considered a key component. In the thick of an emergency, it’s not just about having the right gear; it’s about being prepared for any financial transactions that might be necessary.

You might find yourself in situations where digital payments may not be an option, so having cash on hand ensures you can acquire resources like food, water, and shelter. Aim to include small denominations to make transactions smoother.

Remember, there’s a balance to be struck with how much cash to carry:

• Enough to be useful in varied scenarios
• But not so much as to make your kit too bulky or become a security risk

Here’s a quick checklist for your cash inclusion:

• Variety of Bills: Include a mix of bills, from $1 to $20.
• Protection: Store cash in a waterproof and fireproof container.
• Accessibility: Make sure it’s readily accessible but secure.

Your survival kit is your lifeline in unexpected situations, and cash is an element that simply can’t be overlooked. Keep it practical, keep it safe, and ensure it’s adequate for your needs without going overboard.