How much cash is too much?

[cicero]

depends.

I don't have a car and i prefer to use cash for most purchases (it keeps the spending down). so i use mostly cash. Since I don't have a car, i usually keep some cash on hand in case of a middle of the night or weekend emergency where i'll need a cab or something (we don't have public transportation on the weekends) - about 30 $

when i take money out of the ATM i usually take the equivalent of 80-100$ - that gets me thru the week (groceries, bus pass etc) with a bit leftover. I would feel uncomfortable with more than that and frankly, on my salary, it would hurt me to lose even that small amount of money.

when i travel i have a small amount of cash on me, and take out cash from local ATMs.

we don't live in an area that is prone to natural disasters, but we are prone to war so whenever there is a scare, we buy a six pack of bottled water, some extra canned goods and crackers, dried fruit, nuts etc and hope for the best.

[RebeccainGA]

I have told my DP for years that cash, in my wallet, evaporates. I generally have less than $20 on my person at all times. If we need cash for a trip or something, then DP gets it - she's usually got $40-80 in her pocket at all times, and sometimes up to $500 if we're going on a trip. It's also good, security wise, because I'm pretty sure it's impossible to pickpocket a person in a wheelchair if their cash is in their pocket. Mug us, maybe, but never pickpocket. LOL

[Girly]

We have a couple of thousand in the house, in a safe.

I never carry cash on me. The only time I have cash is when I go to the ATM to get cash for presents, or to pay the housekeeper or babysitter.

[RingTailedLemur]

I never carry more than £30, and my penny jar at home probably has less than £1 in it.

The idea of carrying $1000 shocks me!

[Kaypeep]

I usually take about $200 out everytime I use the ATM and replenish when it gets down to around $40.  I prefer to use cash for small daily purchases like lunch, drinks and dining out with friends, gas.  I use the debit card for groceries and train ticket/metrocard.  I have a personal 'christmas club" where I put away $20 a week in my house then use it in December for xmas gifts, tipping the super and cleaning woman, December treat money.  It comes in handy throughout the year if I run out of cash and need money to pay for the cleaning woman or chinese delivery.  If I borrow from it I replenish it as soon as I can to keep totals current.  I'm not worried about theft.  While any theft is a loss, I'm lucky to be at a point financially where if someone steals my cash from my wallet it won't break me.  I feel better with cash on me for emergencies, especially after 9-11 and hurricanes and blackouts in NYC.  I feel it's more beneficial to have than credit/debit cards during those times.

[cheyne]

~Respectfully snipped~

Apparently this isn’t all that unusual.  My aunt and uncle mentioned once that they keep a rather large amount of cash at home (they have a safe).  But – I can’t help but wonder under what circumstances a person would need to keep (what I consider to be) a large amount of cash.  I remember once I had slightly over $1,200 on me and I was very nervous about it – couldn’t wait to get to the bank to deposit/get rid of it.

What precipitated the discussion was a series on one of the local news stations.  A former burglar was telling people how to protect their homes and valuables.   For example, he said most people foolishly keep cash in the woman’s lingerie drawer, and he said the best place to keep cash and jewelry is a floor safe, and most home invasions are during the day (which I knew).  They usually work as a crew in coveralls/uniforms, but sometimes wear business suits and carry a clipboard.

Anyway, just wondering about opinions about a sensible vs unwise amount of cash to carry or keep in the home.

Some people keep large amounts of cash at home due to the fact that they don't trust banks or the government (IRS).  With interest rates on savings accounts or CD's being so low, it makes sense to have your cash where you can readily access it if needed.  It's not like you're losing out on earning interest.

If anyone is going to keep cash in a safe, the safe needs to be bolted to the floor if it weighs less than 75 lbs or so.  Otherwise the thieves can just carry the safe with them and open it at their leisure. 

I am a cash person.  I have a checking acct. to pay bills with (mortgage, utilities etc) otherwise all purchases are in cash.  I do have a floor safe and have enough cash in it for my purposes.  I have carried up to $2000 on me when on vacation.  Never been mugged, purse snatched or lost it.

ETA:  There is no thing as "too much cash" 

[LadyJaneinMD]

I normally don't carry more than $100 cash, but one day I managed to get my hands on about $2000 (can't remember why), and I was riding home on the metro.  Late at night.   Halfway home I realized that I'd be walking across a large parking lot late at night in a dodgy area, and even with plenty of lighting, my purse might be in danger.  So I started stuffing money in my bra.  Not on top where it could be easily seen, but underneath.  I had all of that cash, in $20 bills, along with my driver's license and debit card, stuffed in there!

I have never been so happy to be well-endowed in my life.    For what it's worth, I didn't have a problem in the parking lot.  There were lots of people around, even at 10:30pm.