I’m a Money Expert: 4 Reasons You Should Stock Up on $20 Bills Before the Winter
Written by
Emily Fowler
Edited by
Rebekah Evans
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Not all money is created equal and when it comes to versatility, $20 bills reign supreme. Whether it’s for a quick errand, an unexpected gift or a spontaneous tip, twenties hit the sweet spot — big enough to be useful, small enough to be accepted everywhere.
Finance expert Melanie Musson from InsuranceProviders.com told GOBankingRates why these bills deserve a place in everyone’s wallets and why now’s the time to start stocking up.
Widely Accepted and Convenient
When it comes to most day-to-day transactions at all types of businesses from gas stations to restaurants to grocery stores, $20 bills will be accepted.
“Sometimes, retailers and fast food restaurants won’t accept $100 bills and a few won’t even take $50s,” Musson said. “But nearly everyone who accepts cash will accept a $20.”
This is often because stores may lack enough change for larger bills or want to minimize the risk of counterfeit currency. However, $20 bills will rarely cause issues.
Handy in Emergencies
Winter storms can cause power outages, leaving electronic payment systems unusable. And while a quick trip to an ATM for emergency cash might seem an easy solution, what if the machines are out of order or inaccessible because of the weather? Cash might also be in short supply as other people rush to withdraw it.
In these situations, having $20 bills already on hand will be useful. They’re versatile enough to cover most emergency expenses, like buying groceries or paying for last-minute repairs, without the complications that come with larger denominations.
Perfect for Gifting and Gratuities
Musson explained that $20 bills are also a great option for gifting, especially to avoid going out in harsh weather. They’re easy to slip into a card if you need a quick gift for an unexpected occasion or a forgotten birthday and they make thoughtful tips for delivery drivers, service workers or neighbors who help out during a snowstorm.
Twenty dollars is definitely enough to feel generous without being excessive, making it the perfect amount for small, meaningful gestures.
Useful in Everyday Scenarios
While a stash of $20 bills is a valuable way of preparing for winter emergencies, it’s also a practical solution for a variety of everyday situations, from paying for parking to splitting the bill at dinner. For parents, $20s are a convenient way to handle allowances or, as Musson suggested, to pay a neighbor’s kid for shoveling the driveway after a snowfall.
According to the Federal Reserve Board’s most recent data, $20 bills are among the most widely circulated denominations, with over 11.2 billion individual notes in use and they provide a level of practicality that other denominations can’t match. They’re small enough to be manageable yet large enough to cover a wide range of expenses.
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