How much cash should you have at home for emergencies depending on income: expert advice

In the context of war, possible power outages, and disruptions in banking services, Ukrainians are advised to keep a certain cash reserve at home for emergencies. At the same time, experts do not recommend storing large sums in apartments or houses due to security risks and inflation.

News.LIVE reports this here.

Financial consultant Olena Konyk notes that the amount of cash reserves should depend on the family's income level and monthly expenses. According to her, having cash on hand can help survive force majeure situations when access to banking services may be temporarily limited.

What cash reserve is recommended for Ukrainians

The expert advises to focus on the following amounts:

• for an income of up to 20,000 UAH per month — from 2,000 to 10,000 UAH;
• for an income of up to 40,000 UAH — from 4,000 to 20,000 UAH;
• for an income of up to 100,000 UAH — from 7,000 to 40,000 UAH.

At the same time, she describes a reserve of one to one and a half monthly family budgets as an optimal option.

According to the consultant, the rest of the savings are better kept in bank accounts, deposits, or distributed among various financial instruments.

Why you shouldn't accumulate large sums at home

Ukrainian legislation does not limit the amount of cash that citizens can keep at home. However, specialists emphasize that excessive sums increase the risks of losing money due to theft, damage to property, or other emergencies.

Moreover, money that sits idle for a long time gradually loses value due to inflation. This is why large accumulations are recommended to be placed in financial instruments that at least partially preserve their purchasing power.

Experts also advise against keeping reserve cash in easily accessible places and to ensure safe storage of cash.