Updated: Sep 2, 2020
Money is one of the last things many preppers and survivalists think about. They think about scenarios where the U.S. dollar or whatever other currency they are using is worthless. It’s just paper, and if the economy collapses or any other massive emergency occurs, money will be worthless right? Not a chance. Money will always have value unless some catastrophic end of the world event happens. In 99% of all the bug out emergencies that can occur, this is highly unlikely. In order to be completely prepared, we have to build up a solid emergency fund of cash.
Why do I need an emergency fund at home when I have money in the bank?
Money in the bank will do you no good during an emergency. You might not have time to go withdraw cash, the ATM’s might not be working, and banks might just be closed when you need the cash. Keeping cold, hard cash in an emergency fund at home is very important. It will give you a headstart if you need to bugout and can put you in a better situation to survive, as you’ll be able to buy supplies from others.
What good would cash do in an emergency?
Excluding a catastrophic world ending event, money can be used to buy anything. That old saying that “everything has a price”, is most certainly true, even during times of hardship. If a family has a ton of supplies, but no money, they might be willing to sell some of their supplies for a good amount of money. It’s simple supply and demand economics. If one of your essential items is ruined or stops working, you’ll want a new one, and cash can do that for you. If we can prepare for virtually every type of disaster, we’ll be much better off to help our families survive. Emergency preparedness is KING!