Reply
Trusted Contributor
Posts: 1,783
Registered: ‎03-06-2020

Re: Anyone withdrawling cash "just in case"?

@Mominohio  Very well said.

 

My Daddy grew up in poverty. His best friend saw his Daddy kill himself during the Depression. Daddy saw many horrible things and because of what he and his family went through-  what he witnessed, he made a few vows that he carried with him till his death. He married later in life because of these vows (he was older by 20 years than my mother). The biggest thing was he did not believe in credit. Pay cash for your house; this way no one can take it away from you. Pay cash for your car; this way no one can take it away from you. Never borrow or lend money especially if family or friends because it will ruin the relationship. Go to college (he did and was the first one in his family. I was the second) and pay cash for it or find a way to earn your degree but don't borrow for it.

 

When DH and I bought our house, Daddy was not happy that we had a mortgage. He understood how a dollar didn't buy what it once did but the being in debt to a bank really bothered him. We never made much money on each house we bought and then sold as we went from condo to TH to single family. When Daddy died, I was shocked that he made a provision in his will to pay off my mortgage no matter the amount. We had refinanced to make it a 15 year loan but his gift.....speechless. We had no other debt and are teaching our children to do the same. Providing for them in similiar ways is also very important to us.

 

In the end, people have different outlooks on life based on their past. Not wrong or right/better just...different. Smiley Happy

"Coming to ya from Florida"
Honored Contributor
Posts: 10,853
Registered: ‎03-10-2010

Re: Anyone withdrawling cash "just in case"?

YES,,,  and I think I becoming my Mom.  Lol  when she died we found 36,000 stuffed in a duvet on the floor!,   I mean that duvet was there for years  we had caretakers, cleaners etc...there it sat  she told me she had cash for an emergency and her funeral.  

Honored Contributor
Posts: 10,853
Registered: ‎03-10-2010

Re: Anyone withdrawling cash "just in case"?


@FiddleDeeDee wrote:

@Mominohio  Very well said.

 

My Daddy grew up in poverty. His best friend saw his Daddy kill himself during the Depression. Daddy saw many horrible things and because of what he and his family went through-  what he witnessed, he made a few vows that he carried with him till his death. He married later in life because of these vows (he was older by 20 years than my mother). The biggest thing was he did not believe in credit. Pay cash for your house; this way no one can take it away from you. Pay cash for your car; this way no one can take it away from you. Never borrow or lend money especially if family or friends because it will ruin the relationship. Go to college (he did and was the first one in his family. I was the second) and pay cash for it or find a way to earn your degree but don't borrow for it.

 

When DH and I bought our house, Daddy was not happy that we had a mortgage. He understood how a dollar didn't buy what it once did but the being in debt to a bank really bothered him. We never made much money on each house we bought and then sold as we went from condo to TH to single family. When Daddy died, I was shocked that he made a provision in his will to pay off my mortgage no matter the amount. We had refinanced to make it a 15 year loan but his gift.....speechless. We had no other debt and are teaching our children to do the same. Providing for them in similiar ways is also very important to us.

 

In the end, people have different outlooks on life based on their past. Not wrong or right/better just...different. Smiley Happy


Shoekittysaid:  what goes around comes around. When you are grateful that gratitude is passed on to others.

Honored Contributor
Posts: 8,736
Registered: ‎02-19-2014

Re: Anyone withdrawling cash "just in case"?


@Anonymous032819 wrote:

Yes, a strong so!ar flare could wipe out the grid.

 

Can't use credit/debit cards

 

Can't pump gas for your car (so I guess we had better have a personal stockpile of gasoline, just in case)

 

Air traffic control towers wouldn't be able to keep track of planes, and there would be mid-air collisions.

 

People wouldn't be able to use their cell phones.

 

 

And (gasp!) we wouldn't be able to post here!

 

 

 

Causing a panic run on the banks is NEVER a good idea.

 

 

 

 

Oh, an an asteroid could crash in to the earth tomorrow too.


Searching Google now for "asteroid shields."

When you’re accustomed to privilege, equality feels like oppression.
"Power without love is reckless and abusive, and love without power is sentimental and anemic." - Dr. Martin Luther King Jr
Honored Contributor
Posts: 18,969
Registered: ‎03-13-2010

Re: Anyone withdrawling cash "just in case"?

No

♥Surface of the Sun♥
Trusted Contributor
Posts: 1,166
Registered: ‎06-30-2018

Re: Anyone withdrawling cash "just in case"?

Funny story about hiding cash.  Way back when, my dad always liked to keep a good amount of cash in the house.  One time he decided to hide it in the air conditioner which wasn’t working at the time and stashed it right behind the front grate. Unbeknownst to him my mom had the repairman come over one day because we were getting into the warmer weather and she didn’t want to go through another summer with just fans. The problem was simply a matter of a bad plug which the repairman replaced.  Plugged in the A/C and it was running for a couple of hours before my dad came home from work.  As soon as he felt the cold air upon entering the house he yelled and rushed over to the A/C pulled the plug and fumbled to open up the front grate.  Thankfully the money was intact.  We were all hysterical laughing.

 

Gives a whole new meaning to the phrase “frozen assets”.

 

P.S. The plug was busted again because he had pulled it out with such force.

Wear a mask. Social distance. Be part of the solution - not part of the problem.
Honored Contributor
Posts: 9,305
Registered: ‎06-08-2016

Re: Anyone withdrawling cash "just in case"?

That's the last thing we need to do, another panic, like the toilet paper.

 

Just stop it.

 

For as long as I've been an adult, I've kept a sizable stash of all kinds of money, paper & coin.   Just because.   I'm not going to change my  habits now.

Honored Contributor
Posts: 8,638
Registered: ‎12-12-2010

Re: Anyone withdrawling cash "just in case"?


@Carmie wrote:

@QueenDanceALot wrote:

Whatcha gon do when the desperado shows up at your door with a gun demanding your cash?

 

 

 

 


Well, i'd rather give him cash than take a trip to the ATM with him, but most likely he would be carried out on a stretcher to the county morgue.

 

We stash more than cash in our home.


@Carmie 

Exactly...he would be saying hello to my little friend Smith & my other little friend Wesson.

Time is just a drop in the bucket compared to eternity. It isn’t how long you live that matters; it is how well you are prepared to die. ~~Colonel Robert B. Thieme, Jr.
Esteemed Contributor
Posts: 5,544
Registered: ‎03-09-2010

Re: Anyone withdrawling cash "just in case"?

Warren Buffet has $127B in cash. He intends to grow his cash stockpile for among other things, to pick up a good deal when he sees it.

 

Yes, I do keep some cash on hand. How much to keep is where you are comfortable like an emergency fund. Helps me sleep better at night.

Honored Contributor
Posts: 15,026
Registered: ‎05-23-2015

Re: Anyone withdrawling cash "just in case"?

No, but I always keep some cash around to pay the guy that does my lawn.  I usually pay cash at the grocery store, well, just because. 

" You are entitled to your opinion. But you are not entitled to your own facts."
Daniel Patrick Moynihan