Emergencies happen. Sooner or later you are going to be caught somewhere that you need some money. Even if it’s not an emergency, do you carry any cash on you? My wife went to register our cars, stood in line at the DMV, got to the counter only to learn they only take cash or check (no cards).
Having a little cash on you turns an emergency or pain in the rear (see above) into an inconvenience. I have a red neck emergency fund in my wallet. A hundred dollar bill is tucked behind my license and other crap. Everyone should have one.
When you are truly in an emergency you would be surprised what $100 dollars can do for you. If you never use it, it’s always in your wallet.
When I travel I take more money. The further away from home you get the more money you should have. Think about having enough cash on hand to get you home if all else fails.
One of my close friends just found this out the hard way. His paycheck didn’t get deposited before the 1st like it was suppose to and he was driving home from visiting family. After buying gifts, going out with friends, and just enjoying the normal Christmas festivities, his bank account was down to zero. Lucky for him his wife had a couple extra dollars in her pocket so they could get enough gas to get home. He only figured this out half way home when his card wouldn’t work at the pump to get gas. My friend wasn’t broke. He has a couple thousand dollars as an emergency fund (everyone should have one of 3 to 6 months of expenses) in his savings account that he couldn’t get until the banks opened again after the holiday.
So keep a couple extra bucks stashed away for those times when your card doesn’t work. When traveling I say have enough to get home.
The only hard part is not spending the money.