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SecretlyTTC14
LIF Adult
Member since 12/13 1770 total posts
Name:
B
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Re: Cash on hand
Posted by curley999
We have cash on hand for all the reasons listed above plus if the market crashes bank accounts could be frozen. As it is some banks are closed right now due to staffing. The guns are to protect your family and property if the food supply chain stops and people try to steal from each other. We learned how the gas supply during Sandy affected everyone too. None of these things are likely to happen but I would rather be prepared then not.
I passed by the local gun shop yesterday. There was a huge line out the door. I thought about going and just getting some extra stuff JIC but no way I'm waiting on a line like that. I'll make do with what I have.
Message edited 3/21/2020 9:19:13 AM.
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Posted 3/21/20 7:26 AM  |
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Dolphinsbaby
My 3 little guys!
Member since 12/10 2943 total posts
Name:
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Re: Cash on hand
I wanted to get cash out of the bank Tuesday. I looked up hours and was there at opening at 8:30 along with a bunch of other people. Only to see the limited hours sign on the door. Came back at 10 to a packed bank and the manager saying they might close earlier than the stated 2pm early closing. People were asking if the bank did not have enough cash. He wouldn’t answer and went in the back. That’s when I started to worry.
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| Posted 3/21/20 9:50 AM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: Cash on hand
Posted by Dolphinsbaby
I wanted to get cash out of the bank Tuesday. I looked up hours and was there at opening at 8:30 along with a bunch of other people. Only to see the limited hours sign on the door. Came back at 10 to a packed bank and the manager saying they might close earlier than the stated 2pm early closing. People were asking if the bank did not have enough cash. He wouldn’t answer and went in the back. That’s when I started to worry.
This is terrifying.
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| Posted 3/21/20 9:54 AM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Cash on hand
People are going to shoot each other over toilet paper?
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| Posted 3/21/20 10:47 AM |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: Cash on hand
Posted by ChilisWife
Posted by Dolphinsbaby
I wanted to get cash out of the bank Tuesday. I looked up hours and was there at opening at 8:30 along with a bunch of other people. Only to see the limited hours sign on the door. Came back at 10 to a packed bank and the manager saying they might close earlier than the stated 2pm early closing. People were asking if the bank did not have enough cash. He wouldn’t answer and went in the back. That’s when I started to worry.
This is terrifying.
Well yeah if everyone starts panicking and pulling their money out of the bank at the same time , of course the branch will run out of cash.
Once again. a problem caused by panic of the masses.
Typical
People need to calm the fuk down. 50% of our problems would disappear.
Message edited 3/21/2020 10:56:06 AM.
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| Posted 3/21/20 10:50 AM |
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PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: Cash on hand
Posted by LuckyStar
People are going to shoot each other over toilet paper?
If people are desperate enough, I wouldn't put it past them. Plus don’t forget those who take advantage of these types of situations. The businesses that are going to be looted being forced to close? That’s why cops and national guard will be out before you know it patrolling to keep the peace.
In general, If people know you have food and supplies and they don’t, desperation and panic takes over.
I for one am grateful to have firearms ready to go if it comes down to it. Protect yourself and your family.
Message edited 3/21/2020 10:54:44 AM.
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| Posted 3/21/20 10:54 AM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Cash on hand
Posted by LuckyStar
People are going to shoot each other over toilet paper?
I wouldn't say for toilet paper. I'd say for food.
People get desperate.
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| Posted 3/21/20 12:25 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: Cash on hand
So for those of you thinking we should have cash on hand....like how much? I can't keep thousands in the house...
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| Posted 3/22/20 4:50 PM |
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klingklang77
kraftwerk!
Member since 7/06 11487 total posts
Name:
Völlig losgelöst
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Re: Cash on hand
Posted by ChilisWife
So for those of you thinking we should have cash on hand....like how much? I can't keep thousands in the house...
It’s probably a good idea not to post how much. I can see thieves using this....
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| Posted 3/22/20 11:15 PM |
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PitterPatter11
Baby Boy is Here!
Member since 5/11 7619 total posts
Name:
Momma <3
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Cash on hand
My mom said her store might be switching to credit/debit only so the cashiers don’t have to interact with you as much so cash won’t do you much good.
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| Posted 3/22/20 11:26 PM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Cash on hand
There is more than enough food! People need to stop acting like it’s the great famine of 2020.
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| Posted 3/23/20 12:50 PM |
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queensgal
Smile
Member since 4/09 3287 total posts
Name:
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Re: Cash on hand
Posted by Dolphinsbaby
I wanted to get cash out of the bank Tuesday. I looked up hours and was there at opening at 8:30 along with a bunch of other people. Only to see the limited hours sign on the door. Came back at 10 to a packed bank and the manager saying they might close earlier than the stated 2pm early closing. People were asking if the bank did not have enough cash. He wouldn’t answer and went in the back. That’s when I started to worry.
I haven’t heard of any actual shortage of cash. There could have been an increase with people taking more than usual and usually local businesses and stores are making deposits that have all stopped.
I worked for a pretty large store in high school and I used to go to the local bank and drop off up to 20k a day in deposit. Once that bank processed it, they could use those dollars for withdrawals. I’m assuming very few places like this are making deposits or if they are, they are much smaller.
The bank probably just needs to order more cash and the delivery could be interrupted. With interest rates at zero, banks can get or borrow free money.
While I did take out $200 a week ago and haven’t used, I don’t think there is any reason for us to be running on the banks and cashing out entire accounts.
Panic makes everything worse.
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| Posted 3/23/20 2:08 AM |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: Cash on hand
Posted by queensgal
Posted by Dolphinsbaby
I wanted to get cash out of the bank Tuesday. I looked up hours and was there at opening at 8:30 along with a bunch of other people. Only to see the limited hours sign on the door. Came back at 10 to a packed bank and the manager saying they might close earlier than the stated 2pm early closing. People were asking if the bank did not have enough cash. He wouldn’t answer and went in the back. That’s when I started to worry.
I haven’t heard of any actual shortage of cash. There could have been an increase with people taking more than usual and usually local businesses and stores are making deposits that have all stopped.
I worked for a pretty large store in high school and I used to go to the local bank and drop off up to 20k a day in deposit. Once that bank processed it, they could use those dollars for withdrawals. I’m assuming very few places like this are making deposits or if they are, they are much smaller.
The bank probably just needs to order more cash and the delivery could be interrupted. With interest rates at zero, banks can get or borrow free money.
While I did take out $200 a week ago and haven’t used, I don’t think there is any reason for us to be running on the banks and cashing out entire accounts.
Panic makes everything worse.
Ding, ding, ding.
Please stop.
Like I said earlier...if everyone runs like a chicken with it's head cut off to pull out money because someone said they should but with no idea why, then of course branches will be short on cash.
Message edited 3/23/2020 4:28:31 AM.
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| Posted 3/23/20 4:27 AM |
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pnbplus1
Family
Member since 5/09 5751 total posts
Name:
Mommy
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Re: Cash on hand
People may be taking out cash bc of concerns over liquidity in the markets. Borrowing became an issue for companies. The concerns over liquidity resulted in the Fed purchasing commercial paper last week. I'd guess people worry about the banks having liquidity and thus want to have money out just in case.
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| Posted 3/23/20 9:29 AM |
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