How much is a large sum? I absolutely think it's smart to keep some cash handy, but I'm unsure about a "large" sum.The same they recommend for savings. Months of current living expenses.
What situation could happen where your bank money is completely inaccessible but cash money would be useful?
The problem with that kind of logic is that the level of catastrophe required to make it so that cash hoarded in your home is your only source of money is a level of disaster that's going to make that money you have at home worthless too. At that point you may as well hoard bottled water and bullets, or at the very least things that have trade value that you can buy with dollars right now that won't deprecate in value the way a currency might.It's happened before in places and it didn't turn them into an apocalypse movie. The Blackout of NYC was one. People had to live on whatever cash they had and a lot of times if you didn't have small bills you were out of luck because businesses could not break the bigger bills.
I rescind my previous post. Apparently there was mayhem and murder and robbery and looting all across the city. My b guys.
I rescind my previous post. Apparently there was mayhem and murder and robbery and looting all across the city. My b guys.Well the 1977 blackout resulted in mayhem, but other blackouts were fine.
What situation could happen where your bank money is completely inaccessible but cash money would be useful?
The same they recommend for savings. Months of current living expenses.
I put most of my investments in gold and silver.but you don't keep the gold in your home right? at the bank?
I have around 150 million Dong in a safe in my home, but thats more from cautionary tales of Vietnamese banks just randomly deciding your card doesnt work anymore and they wont give you a new one for a week or two.dong is the currency of vietnam? never really heard of it. What is it's value against the american dollar, so like vietnamese don't use like credit cards though, very often at all
dong is the currency of vietnam? never really heard of it. What is it's value against the american dollar, so like vietnamese don't use like credit cards though, very often at all
dong is the currency of vietnam? never really heard of it. What is it's value against the american dollar, so like vietnamese don't use like credit cards though, very often at allDong is one of the lowest currency. $1USD is like 20k Dong
Yeah, its the Vietnamese currency.many places take u.s cash?
Thats about 6 thousand USD.
Credit cards are rare here. I dont have any Vietnamese credit cards.
Debit cards are useable in more upmarket establishments, but its not somewhere you want to b me trying to get by without cash, especially as a foreigner. Theres a QR code payment thing but your bank has to have the functionality to use it, and none of the ones that I can get an account with do.
many places take u.s cash?
Of course not. Why would they?aren't there like lots of u.s. tourists in hanoi and stuff?
aren't there like lots of u.s. tourists in hanoi and stuff?
Yeah but its not the currency of the country. Do many places in the US take Euros?so it is very easy to exchange your u.s. currency, at a vietnamese bank?
so it is very easy to exchange your u.s. currency, at a vietnamese bank?
I do because I receive SSI benefits on behalf of my brother and thus is subject to asset limits.I know about this, like 2k max in a bank account? Why do they do that? Does this rule make any sense at all? No such limit for pure disability. Heard getting SSI makes it extremely bad usually for that person, it's like many times less than what you would get in disability
Another thing to think about is that if the wrong people find out about it, they might pay you a visit.
I do because I receive SSI benefits on behalf of my brother and thus is subject to asset limits.Isn't this just scamming taxpayers?
Isn't this just scamming taxpayers?Probably but I want the money.
I know about this, like 2k max in a bank account? Why do they do that? Does this rule make any sense at all? No such limit for pure disability. Heard getting SSI makes it extremely bad usually for that person, it's like many times less than what you would get in disabilityYeah the 2k limit is super annoying. He had his benefits removed for 2 months in late 2020 because of the Stimulus checks.
Probably but I want the money.how did that happen? just immediately cash the stimulus checks right? forget how much those stimulus checks were. And they would not pay back those lost 2 months? What is even the rationale for 2k limit in a bank account , is there any?
Yeah the 2k limit is super annoying. He had his benefits removed for 2 months in late 2020 because of the Stimulus checks.
Probably but I want the money.have heard of the 2k ssi limit too. Is there really any at all rationale for it, or supporters of this 2k cap have any reasoning for it?
Yeah the 2k limit is super annoying. He had his benefits removed for 2 months in late 2020 because of the Stimulus checks.
What situation could happen where your bank money is completely inaccessible but cash money would be useful?I can think of several short-term ones where having a small stash of cash would be handy, but nothing that would require a large stash (unless we're counting cases where it's more targeted at the particular person, eg. if their account is frozen due to suspicious activity).
The problem with that kind of logic is that the level of catastrophe required to make it so that cash hoarded in your home is your only source of money is a level of disaster that's going to make that money you have at home worthless too. At that point you may as well hoard bottled water and bullets, or at the very least things that have trade value that you can buy with dollars right now that won't deprecate in value the way a currency might.Add alcohol and canned food to that list.