How Much Cash Should You Keep at Home in Case of an Emergency?

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 4 October 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Financial advisors recommend keeping physical cash at home in the event of an emergency or natural disaster. Wall Street Journal personal finance bureau chief Jeremy Olshan joins host J.R. Whalen to discuss how much cash should be put aside. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Twilio,
0:02.8	powering personalized customer experiences for leading brands.
0:06.2	Visit Twilio.com slash Gartner to learn why Twilio was named a leader
0:10.6	in Gartner's first-ever 2023 Magic Quadrant for communications platform as a service.
0:20.5	Here's your money briefing for Wednesday, October 4th.
0:23.4	I'm JR Whalen for the Wall Street Journal.
0:26.9	We often talk about having emergency funds in your bank account to cover things like illness or other unplanned expenses.
0:33.9	Financial experts also suggest you have funds actual cash just in case.
0:39.9	In the event of natural disaster like a hurricane, a power outage, a snow storm,
0:45.9	or let's say a cyber attack where you cannot access your money digitally or the ATMs
0:52.9	are not working, credit card readers are not working.
0:55.9	There's no Venmo or cash app.
0:57.9	How much cash should you have hidden away at home?
1:00.9	We'll talk to Wall Street Journal personal finance bureau chief Jeremy Olshin after the break.
1:08.9	Sam Bingman-Fried, the founder of CryptoGiant FTX,
1:11.9	promised to give away his fortune.
1:13.9	But then everything fell apart.
1:15.9	Sam, are you an ethical person?
1:17.9	I think I've tried as hard as I can to be one.
1:20.9	He's been accused of stealing billions of dollars from customers and investors.
1:24.9	Is there anything you would want to say to Sam if you could?
1:27.9	Give me my f***ing money back.
	...

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