How Much Cash Is Too Much To Keep At Home?

[Music] beverly's with us beverly's in boise idaho hi beverly how are you hi dave hi hi ken thank you for taking my call sure what's up i have a very simple question for you how much cash is too much cash to keep at home and where would you put it where should you put it since the banks are only giving you one percent hmm so you're a cash under the mattress woman are you maybe in some coffee cans buried in the backyard so how much cash do you want to keep at home well you always say pay cash for stuff well obviously you cannot go down to the car store and put seventy thousand dollars of cash on their debt so you cannot go down to the what store the automobile store and put seventy thousand dollars cash did you say seventy yeah you're buying a nice car to buy a new car to buy a new truck you're buying a nice truck all right well i i don't do that when i'm buying a 70 000 item i wire it i i don't carry cash in now if i'm negotiating with an individual for a used item i might use the power of cash like we have taught and wave it under their nose and see if i can get a better deal i've done that i'm not above doing that but i don't i i don't i don't think i'm going to recommend beverly walks down with a suitcase full of money like a drug dealer to a 70 000 car purchase i'm just going to let you wire that money in so you would put the money in the bank and wire it and get one percent well you're not getting anything in the bottom of your mattress that's true yeah so it's it's you know i know that it's not the one it's i don't want you to get robbed i don't want somebody knock you in the head and take 70 grand out of your house i don't have 70 grand in my house so that's just when you say you pay cash for stuff you keep your money in a bank or a credit union or something and then you wire it yeah and i wire it and meaning i don't go into debt is what i mean when i pay cash now i have a pocket full of cash right now i i carry a uh you know a money clip in my front pocket that's usually got a thousand bucks in it but that just because i like how i'm a redneck i like having some money in my pocket right you know but that's just walking around money and if i want to buy something or you know most of what that wallet goes for is tips for you know when i park a car or when i'm uh finish up playing a game of golf and a guy cleans my clubs you know that kind of stuff when i come over and mow your lawn yeah when ken comes over and washes dishes for us we give him a little tip and by the way i want to point out don't don't come to some live event and try to take money off of dave because he's also got something else in his in his pocket i just i just think i should point that out that could be a bad scenario for something i'm trying to take i'm not gonna get robbed it's okay that's okay nobody wants to rob me but the uh i'm not really muggable i'm just huggable but the uh uh yeah but anyway the uh uh yeah i don't walk around with a bunch of cash in that regard when i say cash is king at the beginning of the show it doesn't mean that jesus isn't king it means that the cat that cash has power and paying for things rather than going into debt to get them is power and so um you know i know a few people that keep five or ten thousand dollars cash in a little safe in their house just in case they you know wanted to grab a hold of a little money for some reason or another on a short notice and the atm was jammed up or something then that's okay but i you know i i don't believe in keeping 50 100 200 000 uh you're starting to get into the land of preppers and stuff like that then and i'm i'm not i'm not that guy and i don't recommend that so interesting discussion though beverly i i have a lot of curiosity about what's going on at your house at this point i gotta tell you dave i part of me would love to see beverly walk in with some armed security with a suitcase and plop it up on the counter and i'd like that truck right over there i bet you could get a discount i'll guarantee you she can get a discount she's awesome

Channel: The Ramsey Show - Highlights

Views: 670,992

Keywords: the dave ramsey show, budget money debt cash, real estate, insurance, how to make money, dave ramsey, save, credit card, compound interest, buying house, buy, snowball, How Much Cash Is Too Much To Keep At Home?, money, cash, how much cash, financial planning

Id: JnuBV6Xl8s0

Length: 4min 30sec (270 seconds)

Published: Fri Sep 17 2021