Nibud: Always Keep Enough Cash on You

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Everyone should always keep some cash in his or her pocket. The Dutch national institute for budget guidance, Nationaal Instituut voor Budgetvoorlichting (Nibud), said this after a week of problems with Dutch banks.

Consumers have to be prepared for calamities with electronic payments, but also for different situations like power failures, bankruptcies of banks or damaged bank cards.

reports that people should have enough money for at least two days. For an average family (two kids) this would be a minimum of 50 euros, depending on how much food they keep in their homes.

Nibud also advises people to bring cash when they’re on the road, enough to pay for petrol. Owners of more than 100,000 euro should divide that over several banks to spread risks, and it is also good to have different ATM cards or credit cards in case one fails. Lastly, it is important to keep a record of your bank statements as proof what you own should it be necessary.

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