With inflation and gas and food shortages on the rise, it is an excellent idea to have some cash stashed for emergencies. I know we live in a world that believes that there is an ATM around the corner and keeping cash in your wallet or in your home is obsolete, but there are some events that will prove it is good to have some loose cash around.

1. Stolen Credit and Debit Cards

A few years ago, I used to run at a local park after I got off work. My workout sessions were only 35 minutes to an hour, so I was never particularly worried that my car would be broken into. However, one Friday when I returned to my vehicle, my windows were busted out, and my bag, which was hidden, was missing. I should have known better than to leave a bag in the car, but I never thought it could happen to me. (How many times have we heard that phrase and shook our heads?) There is nothing worse than having your wallet stolen and having to contact the credit card companies and the banks to tell them. Immediately, all purchasing power is put on stop. In my case, it was on a Friday, and I couldn’t get my debit card reissued until the following Monday. At that time, I did not have a stash of cash, and I had to borrow money from my family. This one event is what led me to having a stash of cash.

2. Limits on Large Purchases

Many families are experiencing financial difficulties because of Covid, and since people have been unable to pay their card debt, the banks have reduced the limits that they offer…

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