Here's How Much Cash Americans Keep Stashed at Home in 2023: Is It the Right Amount?

A recent survey conducted by GOBankingRates reveals that 42% of Americans keep cash at home.

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The survey found that the average amount of cash kept at home is $1,387.

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This amount is higher than the recommended emergency fund of three to six months' worth of expenses.

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Keeping too much cash at home can be risky as it is not insured and can be lost or stolen.

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On the other hand, not having enough cash at home can be problematic in emergencies.

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Experts recommend keeping a small amount of cash at home for emergencies and keeping the rest in a bank account.

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Having a savings account can also help earn interest on the money and keep it safe.

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It's important to regularly review and adjust the amount of cash kept at home based on personal circumstances and needs.

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