Recent global events – pandemics, wars and economic turmoil – have made many people think about how to properly take care of their financial security if a serious crisis or even military action suddenly begins. Experts agree that one of the most important things in such cases is to properly prepare cash reserves that will help you survive the first weeks or even months of a crisis situation.
What amount of money is recommended to keep at home?
Financial experts advise that in crisis situations it is best to have amount of cash, which would cover at least 3-6 months of family essential expenses.
For example, if your family's monthly expenses for basic necessities (food, water, medicine, fuel, etc.) are about 600 euros, it is recommended to have at least 1800-3600 euros in cash.
Why is it important to have cash?
In times of serious crisis or war, banking operations are often restricted – ATMs quickly run out, and card payments become difficult or even impossible. This is why cash becomes an extremely valuable resource, allowing for security and survival in the first days of a crisis.
Expert advice:
- Keep banknotes in the smallest denomination possible, as they are easier to exchange.
- Keep cash in a safe place that only family members know about.
Gold and precious metals – an additional security measure
Economists also recommend keeping part of your savings in precious metals - gold or silver coins, because during a crisis they become a valuable medium of exchange:
- They retain their value even in an unstable economy.
- They are easy to transport, store or sell if necessary.
Bank accounts: how much money to keep in them?
Experts suggest not keeping your money in just one bank. It is best to spread it out among different financial institutions, and if possible, keep some of your money abroad. This ensures that at least some of your savings will be accessible even in crisis situations.
Financial plan: what else is important to know?
In addition to cash and gold investments, it is recommended to prepare a clear action plan:
- Calculate your family's monthly essential expenses in detail.
- Think in advance about how money will be available during a crisis.
- Have all the necessary documents and contacts that could help in a critical moment.
Financial specialists emphasize: In the event of a crisis, the most important thing is to be prepared in advance. Cash reserves accumulated in time can become not only a guarantee of financial peace, but also a real salvation in the most unexpected situations.
