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What The Situation In Kiev Teaches Us About Cash
One of the most common preparedness pieces of advice is to get out of debt. When you’re out of debt, you can begin planning for your future. Recent events in Kiev teach us about cash.
There’s a lot more to financial preparedness than simply paying down your credit card. Getting those creditors off your back is smart, but your plastic won’t be worth much if there’s ever a situation like the kind in Kiev.
We don’t think there will be widespread violence and turmoil in the U.S. like there was in Ukraine, but there have been several times in our recent history when similar emergencies occurred. The LA Riots, for instance, left many people unable to safely roam the streets of their own neighborhoods (and that was only 20 years ago when we weren’t in a recession)!
Simply saying “It won’t happen to us” is setting ourselves up for trouble. We believe it’s always better to be prepared. There’s a lot we can learn about preparedness we can learn from Kiev, but for now, here are top things you can do to protect your family if something like that should ever happen in your area.
Emergency Funds Need to be More than Digital
Many people have a savings account where they keep a nest egg in case of a rainy day. That’s a great idea; everyone should have a savings.
But if there’s a problem and you can’t get to your bank, how are you going to spend your cash?
One idea is to keep some cash stored at home in a safe or other hidden place. If you need ideas of the best places to hide your cash. This way, if there’s ever an emergency, you can grab the cash and go.
Click here to read the full article on All Self Sustained
