In order to be prepared for all situations, the Federal Office for Civil Protection and Disaster Relief recommends always having a certain amount of cash at home. You can read how much that is here.
While the saying “Only cash is truth” used to be the measure of all things, today card payments are preferred even for small amounts.
We owe this on the one hand to the hygiene rules during the Corona pandemic but also to practical smartphone functions such as Google Pay, which allow us to easily pay with our mobile phone using our virtual bank cards, even at the bakery.
Even though more and more people are going cashless, experts recommend a certain amount of money in cashto have at home. You can find out how much that is here.
This is how much cash you should have at home
Very few people want to store too much cash in their house. Just put your entire savings under your mattress? Please don't! This is far too dangerous, especially when it comes to burglars.
If a disruption makes it impossible to pay by card, it makes sense to have some cash. According to thatFederal Office for Civil Protection and Disaster Relief (BBK) you should “have sufficient cash reserves in the house”. The BBK does not provide an exact amount.
In Austria people are more specific. TheUpper Austrian civil defenserecommends having an emergency fund of “around 500 euros in smaller bills” at home for a potential emergency.
Tipp:There are also clear recommendations when it comes to savings. Financial experts recommend having a sum of between three and six months' salary saved in your daily savings account.
Whether you stick to this recommendation is of course up to each individual. There is no obligation to carry cash with you in Germany. On the other hand, there is no upper limit for cash that can be stored in the house.
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Where should I keep cash at home?
Regardless of how much money you have at home, you should make sure you have a good hiding place. It is better not to hide your emergency cash reserve in standard places such as under the mattress, in books or under flower pots.
Attention: Burglars know the popular hiding places all too well and in many cases have an easy time of it.
If you want to keep larger sums of cash and other valuable items safer at home, you should buy a home safe. However, according to experts, the safest place for valuables is a safe deposit box in the bank.
