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Episode 3375:
Honey Smith explores the practical and psychological benefits of keeping physical cash as part of your emergency fund, especially in times when digital access to money may be disrupted. Weighing the pros and cons, from peace of mind and preparedness to lost interest and security risks, she offers clear guidance on how much cash to keep, where to store it, and why doing so could be a smart addition to your financial safety net.
Read along with the original article(s) here: https://www.getrichslowly.org/should-cash-be-part-of-your-emergency-fund/
Quotes to ponder:
"You'll never be out of money when you need it."
"Cash can't be garnished like a paycheck or bank account, and it isn't easily traced."
"If you lose the money, it gets destroyed, you are robbed, etc., you may have very little recourse."
Episode references:
Mint: https://mint.intuit.com/
Capital One 360: https://www.capitalone.com/bank/savings-accounts/online-performance-savings-account/
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Optimal Finance Daily - Financial Independence and Money Advice