Cash is IMPORTANT!

But do we have enough cash (banknotes & coins) in society to manage extreme crises?
Nordic countries have issued documents on how people should be prepared for emergencies, and the common point in all these four country documents was:
“Have some cash,” the payment infrastructure can be compromised in case of an attack.
Sweden says: Have cash for 1 week of survival based on family needs.

I have never seen banknotes or used cash in Sweden in my last 8 years, so I was curious to find out:
if all people in Sweden went to an ATM, is there enough cash?

• Population in Sweden: 10,582,576 (September 2024)
• Banknotes and coins in Sweden: 58 billion SEK

Each person can have: 58 billion / 10.5 million people = 5480 SEK in cash for each person.

5480 SEK per person expense for needs for 1 week is reasonable, but I always have 100 USD and 100 EUR with me at all times.
Time to get some cash from the ATM and store it at home?

Important Points to Note:

1. For a family of 3, if I want to withdraw 10,000 SEK, note that home insurance covers cash theft/burglary up to a certain limit.
   Call your home insurance company to check whether this amount of cash is insured.
2. 58 billion SEK shall be the minimum amount of cash supply needed in Sweden.
   It should not be further reduced and must increase depending on population growth and inflation.

Source Image: Riksbank