ItвЂ™s also useful for storing other valuables in your home such as jewelry and important personal documents. Consider buying a fireproof and waterproof safe for your home. Just like any other piece of paper, cash can get lost, wet or burned. вЂњThere is a difference between being a вЂdoomsday over-preparerвЂ™ and a reasonably responsible planner,вЂќ Pepper says. So, for example, rather than keeping $50 at home to fill up your gas tank, perhaps keep a reserve of gas or make sure your tank is always full. However, Pepper says that it might be more wise to keep those staples on hand instead of keeping cash to buy them. Those bare necessities include a minimum housing payment, food staples, batteries, water, gasoline and basic living needs. вЂњThis monthly amount would be less than the monthly amounts used to calculate a traditional emergency fund, as itвЂ™s really there to cover the bare necessities in the face of an emergency.вЂќ вЂњA cash amount enough to cover the absolute bare necessities for two months might be a reasonable basis,вЂќ Pepper says. вЂњThe need for actual cash is growing less and less relevant, so an actual savings of physical cash is primarily there to provide protection in an extremely adverse scenario,вЂќ Pepper says, adding that the scenario would likely not be a вЂњlong-term position.вЂќ How much cash should you keep at home?Д®lliot Pepper, CPA, CFP, MST, financial planner and co-founder of Maryland-based Northbrook Financial, says that вЂњa small but reasonable amount of cash should be kept on hand at all times.вЂќ What if a hacker penetrates the payment system? What if a hurricane damages the electric grid? Having some cash at home can provide peace of mind if the unthinkable happens youвЂ™ll still have cash to buy essential goods even when you donвЂ™t have access to your credit cards or debit cards. Others, however, may implicitly trust their banks but not the world around them. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. WeвЂ™re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.Д« is an independent, advertising-supported publisher and comparison service. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout lifeвЂ™s financial journey.Д«ankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our experts have been helping you master your money for over four decades. So, whether youвЂ™re reading an article or a review, you can trust that youвЂ™re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Editorial IndependenceД«ankrateвЂ™s editorial team writes on behalf of YOU вЂ“ the reader. Our editorial team does not receive direct compensation from our advertisers. We maintain a firewall between our advertisers and our editorial team. Our editors and reporters thoroughly fact-check editorial content to ensure the information youвЂ™re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. What to do when you lose your 401(k) matchД«ankrate follows a strict editorial policy, so you can trust that weвЂ™re putting your interests first. Should you accept an early retirement offer? How much should you contribute to your 401(k)?

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