15 Apr, 2024 @ 13:12
1 min read

This is how much cash you should be keeping in your home – according to the Bank of Spain

THE Bank of Spain has revealed how much cash you should be keeping in your home. 

Although society is becoming more and more cashless, it never hurts to have some cash on hand. 

Some bars, buses and shops won’t accept card payments below a certain amount. 

Others don’t use cards at all, preferring to be ‘traditional’. 

So, how much cash should you keep at home? 

According to the Bank of Spain, there is no limit on the amount of money you can keep at home, as long as you declare it in your taxes. 

They recommend keeping between six and 12 months worth of cash handy to get by. 

This includes living costs, food, transport and bills. 

However, the financial entity warned that the value of the money will go down over time due to inflation. 

READ MORE:

Yzabelle Bostyn

Yzabelle Bostyn is an NCTJ trained journalist who started her journalistic career at the Olive Press in 2023.
Before moving to Spain, she studied for a BA in English Literature and Hispanic Studies at the University of Sheffield.
After graduating she moved to the university’s journalism department, one of the best in the UK.
Throughout the past few years, she has taken on many roles including social media marketing, copywriting and radio presenting.
She then took a year out to travel Latin America, scaling volcanoes in Guatemala and swimming with sharks in Belize.
Then, she came to the Olive Press last year where she has honed her travel writing skills and reported on many fantastic experiences such as the Al Andalus luxury train.
She has also undertaken many investigations, looking into complex issues like Spain’s rental crisis and rising cancer rates.
Always willing to help, she has exposed many frauds and scams, working alongside victims to achieve justice.
She is most proud of her work on Nolotil, a drug linked to the deaths of many Brits in Spain.
A campaign launched by Yzabelle has received considerable support and her coverage has been by the UK and Spanish media alike.
Her writing has featured on many UK news outlets from the Sun to the Mail Online, who contracted her to report for them in Tenerife on growing tourism issues.
Recently, she has appeared on Times Radio covering deadly flooding in Valencia.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

3 bedroom Apartment for sale in Villaricos with pool garage - € 170
Previous Story

3 bedroom Apartment for sale in Villaricos with pool garage – € 170,000

PSpanish police officer is arrested 'for groping a young woman's buttocks' at the Malaga feria
Next Story

Frenchman kills neighbour and then turns gun on himself at luxury Costa Blanca urbanisation in Spain

Latest from Business & Finance

Go toTop

More From The Olive Press