Keeping Money Under The Mattress

Or at least they should.

Keeping money under the mattress.

Not only is it the first place any burglar would look but your mattress won t protect your money from fire or flood. I believe that hiding money under the mattress is prevalent in pop culture due to great depression era bank runs creating a need for cash storage in the home. Whether it is metaphorical or not keeping your cash under the mattress means it is readily available at your house. Another 9 percent keep their cash.

The best place to keep cash at home is a concealed fireproof and waterproof. Usually a reference to stashing money under the mattress or in a shoebox is a joke. A little less than 20 percent of americans hide cash in a sock drawer while 11 percent put it under the mattress and 10 percent secure it in a cookie jar. As many as 28 million people in the united states are forgoing traditional financial institutions.

Your savings will lose value over time you won t earn any interest. At first this seems to fly right in the face of everything i preach on this site. Keeping cash under a mattress or bed is an easy picking for thieves and martin said the woman would be best suited putting her money into a savings account. Grandma stuffing money under the mattress isn t the only one living outside the banking system.

Keeping large amounts of money in your house rather than in a bank or building society is a bad idea because. A new survey of more. If you live far from an atm and have a need for cash to pay for produce at the.