Reserves for emergencies: How much cash should citizens have at home?
Created: 07/27/2022, 17:25
By: Stella Henrich
Emergency reserves for every situation in life.
Whether it's canned goods in the cellar, warm clothes in the attic or - cash in the home safe - the current energy crisis makes it clear what really matters in an emergency.
Bonn ‒ While many a citizen stocks up on groceries and canned food as a precaution in order to be well prepared for emergencies such as floods, power failures or storms.
Do other fellow citizens shy away from such hasty panic buying.
It can make sense to be well prepared for emergencies.
As the current energy crisis illustrates.
What to do if there is no electricity or the water no longer warms up in winter?
The Federal Office for Civil Protection and Disaster Assistance (BBK) has published a guide for correct action with personal checklists.
The users of the brochure can use it to tick off all the things they should consider before an emergency situation arises.
According to the Federal Office, not only a basic supply of food is useful.
Important documents, a bucket of water or a watering can, material for wound care, warm clothing and a radio with batteries could also mitigate an emergency situation somewhat.
Reserves for emergencies: When only cash counts
Agreed.
Although nobody seriously wants to imagine such a situation on their own doorstep.
When candles, flashlights, garbage bags and hard hats become necessary to enter your own front yard.
But what is to be done if only cash is accepted in the event of a nationwide disruption of card payments.
A number of retail payment terminals were recently affected.
Customers who had no cash with them at Aldi, Lidl and Co had to leave their purchases in the market.
The BBK therefore recommends always having a "sufficient amount of cash" in the house, but does not name any amount that makes sense in an emergency to make ends meet.
Civil defense in Austria is completely different.
He recommends 500 euros in small bills per household, reports the online
portal
Chip.de.
A family with children would of course need a larger amount than a single person living alone.
Reserves for emergencies: Safe place for banknotes
Of course, the money should not be kept in savings stockings.
Or even in coffee cans, books or under the bed mattress.
It is well known that burglars look there first.
A safe is best for bunkering the money supply.
According to Chip.de
, socket safes are also
a safe place to store banknotes.
It is only important that the place for your own emergency reserves is protected against fire and water damage.
Having your own bank safe deposit box is also a good alternative.
The fear of thieves is not a deterrent.
On average, citizens store more than 1,300 euros in savings stockings or safes.
(Iconic image) © Sascha Steinach/imago
According to the Deutsche Bundesbank, people in Germany hoard an average of 1,364 euros in cash at home or in safe deposit boxes.
The reasons for this are diverse.
From low interest rates, fear of hacker attacks to concerns about technology failure - the Germans obviously love their coins and bills.
After all, collecting cash at home is not a crime.
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If you search the entire Internet and especially the Money Laundering Act with the best search engines, you will not find any German legal prohibitions on storing money or valuables, writes
Focus
in an online edition.
Certainly one of the reasons why, according to a Postbank survey, almost every third person parked money at home again after the Corona crisis.
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