Keeping Money Under The Mattress

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

Keeping money under the mattress.

In short don t hide your money under the mattress. Real adults who make smart choices keep their money in the bank. Or at least. 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.

Keeping money under the mattress can save you a bunch in atm fees. Segal usually a reference to stashing money under the mattress or in a shoebox is a joke. Under a mattress in the freezer. At first this seems to fly right in the face of everything i preach on this site.

Theft or fire could wipe out your savings many insurance policies won t cover money left in the house and if they do they only tend to cover a small amount. Not only is it the first place any burglar would look. Keeping a few bucks on hand can be justified but your home doesn t have the same security as a bank vault. Keeping money under your mattress might sound like a good idea in the movies but in reality it s one of the worst places to hide your cash.

Your savings will lose value over time you won t earn any interest. He will get hit with fees for not keeping in enough money or for taking out more money than he has. But if you are going to keep hiding your money under your mattress at least make sure it s a good one. If you need to leave suddenly to help.

Or anywhere else in the house for that matter. Keeping money stashed around the house leaves you at tremendous risk of theft or loss due to fire or some sort of unforeseen. Flickr juan antonio f. Keeping cash under the mattress also has you covered in case of an emergency.