Cash Under The Mattress

Keeping large amounts of money in your house rather than in a bank or building society is a bad idea because.

Cash under the mattress.

Keeping cash under the mattress also has you covered in case of an emergency. At first this seems to fly right in the face of everything i preach on this site. Growing up in the 1960s i found it embarrassing every time my first generation father picked up a penny on the street. He was penurious a self made man supporting his widowed prussian mother in bedford stuyvesant.

If you need to leave suddenly to help a family member in need you ll save yourself a trip to the atm. While storing non perishable food can give you some security there are risks associated with keeping up a lot of cash in your home. Your bed is great for many things but storing your savings certainly isn t one of them. I thought her depression era advice was old fashioned and irrelevant.

The truth is your money is safer in the bank than under your mattress. After all the financial advice i give out on this site i keep a decent amount of cash under my mattress actually it s in another secure place in my home but it s effectively the same thing. So to alleviate those fears i sent out a call to a large number of contacts asking where they would. Don t keep cash under the mattress.

Stocking up on cash is risky. People can run up big fees to cash checks pay bills and meet their other financial needs. Feds find 20 million hidden under a mattress in massachusetts. The two way the box spring full of cash was discovered during an investigation linked to a massive pyramid scheme.

Worried your money won t be safe in the bank. Innerspring mattresses and box springs were available and widely adopted. How to find a safe home for your cash. Keep cash under the mattress my mother often told me.

Recently i posted a discussion about why i keep a small amount of cash at home under the figurative mattress for major emergencies one of the controversies with that article which was discussed on lifehacker among other places was the idea of actually storing cash under your mattress. Grandma stuffing money under the mattress isn t the only one living outside the banking system. Adequate measures for protecting cash at home were prohibitively expensive. In case of a.

We have the motive the means and the opportunity.