In the midst of various conflicts, such as the war in Iran, the war between Ukraine and Russia or tensions in the Middle East, it is inevitable that citizens begin to wonder what they should do in an emergency. Not only because of the wars that are active, but Spaniards are also afraid of another kind of emergency after going through the COVID-19 confinement or the electricity blackout of 2025. Hence, many already know that in some types of emergencies it is not advisable to waste time looking for personal belongings, or that communications or electricity may even be disabled and therefore payment through electronic means, resulting in the need to have cash at that time to temporarily survive.
Hence the question arises as to whether it is convenient to have cash at home or not. In fact, some countries like Sweden have already recommended doing so in the face of a possible global crisis. But what about experts or banks? Do they recommend doing it?
The Bank of Sweden recommends having cash
Global uncertainty and geopolitical tensions continue to grow and their effects are already being seen, especially in fuels such as oil, which continue to rise in value. This is leading many countries to prepare for the current situation and even worse scenarios. In this context, cash once again takes center stage. Sweden, one of the most digitalized countries in payments, has advised its population to keep cash at home to be able to act in the event of a possible emergency.
The Riksbank, the Swedish central bank, suggests that each person have about 1,000 Swedish crowns (just over 90 euros). Although it is not a large amount, it may be enough to meet basic needs for a short period.
According to the Swedish banking entity, the ideal is to have enough cash to cover approximately one week of essential expenses, which has raised concerns among some economic experts about the possible fragility of digital payment systems. One of those who are already raising questions in this regard is Santiago Niño Becerra, professor and recognized economic specialist in Spain, who wanted to reflect on Sweden’s recommendation to have cash at home.
“You will remember the great blackout of April 28, 2025 in Spain. Then the same thing was recommended: that people, families, have an amount of physical money to face possible similar emergencies. If this is now recommended in Sweden, is the possibility of a great blackout being considered, whether due to an electrical phenomenon or a cyber attack? Because if until now the authorities have seen well the progressive disuse of fiduciary money, why return to it?”, he questions. Boy Becerra.
Furthermore, from the financial environment itself they insist on this preventive measure:
“The Riksbank recommends that all households keep a sum of 1,000 SEK in cash per adult at home. This amount should be considered as a reference and is intended to cover one week of essential purchases. Households may need more or less cash on hand, depending on the number of people in the household or their specific needs. Wherever possible, households are recommended to keep cash in various denominations,” it warns in a statement.
A solution to digital failures and emergencies
The Swedish central bank has stressed that this recommendation not only responds to possible catastrophes or conflicts, but also to failures in digital payment systems. In this sense, it is advisable to also have physical cards and the PIN, since they can work even offline.
“Access to different payment methods improves people’s ability to make payments in the event of temporary disruptions, crises and, in the worst case, war,” the Riksbank has warned.
With these measures, Sweden aims to reduce risks and guarantee citizens’ ability to respond in critical situations. A line that is also followed by the European Central Bank (ECB), which has issued similar recommendations for other countries.
What does the ECB recommend in this regard?
The European Central Bank advises having between 70 and 100 euros per person in cash, an amount that would cover basic expenses such as food, medicine or transportation for about 72 hours.
The agency remembers that cash has a key advantage: it remains useful even in blackouts or cyber attacks. As an example, they mention the April blackout, when electronic payments plummeted (54% in electronic billing and 42% in card use), while cash continued to be used in open stores.
In case of emergency, experts recommend allocating that money to essential products such as food, medicine, transportation, first aid items or urgent services. Fuel is also usually a priority, especially in energy crisis situations.
In short, having cash at home has become a basic prevention measure, in an international context marked by uncertainty and possible interruptions to the usual systems.