The Necessity of Cash During a Natural Disaster - GoldStar ATM

Climate change is real and the effects of our warming planet are being realized as we see more severe droughts and fire seasons in our nation’s west and more severe and damaging storms in the eastern and southern U.S. 

This issue, however, is not only happening in the United States. Around the world natural disasters are challenging the safety of our homes and our economic systems. Recently, three days of rain caused massive flooding in central China, displacing over one million people. The storm dropped the equivalent of one year’s worth of water within a 72-hour period.

Rescuers and citizens have had to overcome waterlogged roads and train tracks. Communication and transportation systems have been affected. Additionally, digital payment systems have been down. Some businesses have allowed customers to open tabs in order to pay for necessities if they don’t have cash.

Cash for Safety

To help alleviate this challenge from happening in other areas, states that “After an emergency, you may need to survive on your own for several days. Being prepared means having your own food, water and other supplies to last for several days. A disaster supplies kit is a collection of basic items your household may need in the event of an emergency.”

Among their list of items to collect for an emergency kit is cash.

How much cash should you keep on hand? Money expert Clark Howard says, “Figure you need to cover three days of ‘walking around’ money. Whatever you would typically charge or use a debit card for over a three day period, that’s what you need to have on hand.”

You’ll probably want to take in consideration that your emergency cash stash shouldn’t be in large denominations, such as $100s and $500s. You’ll have an easier time paying for goods and services if your cash is stored in $20s, $10s, $5s and $1s.

It’s never too late to prepare for an emergency in your area. By having basic necessities at the ready you can rest assured that if an emergency should occur, you’ll have what you need to get through it.

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