week 4
I can't imagine a digital blackout--like literally cannot wrap my mind around the thought because there is so much that is interconnected. I keep zero cash on my person on any given day except on Christmas or my birthday when I may get money from family members...but that goes immediately in the bank. So how would I would I purchase anything? Sell various items to those who are stuck in the old ways of cashing their paychecks and literally keep the cash out? People (with hefty accounts) really think they can go to their bank and withdraw all of their money at any given time. If you have $300,000 in your savings, you are not getting that in cash in one day. You might not even get $80,000. Money is virtual these days. If our digital means crashed, what would be of everyone's life earnings? Savings, checking, IRA, Christmas club, vacation club, loan, credit card--what if you had no access? It's not smart to store $75,000 in a coffee can in your attic, backyard, under the mattress, etc, but should we be preparing for an event should we have no digital means one day? When the credit unions system was down I could only do certain transactions because I had no access to their information--personal or monetary. I had almost 200 transactions in a few hours and that's with turning certain people away. Were they inconvenienced? Definitely. Perhaps we shouldn't go full doomsday prepping just yet, but maybe keep a few dollars and quarters around?
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