Keeping Money Under The Mattress

Grandma stuffing money under the mattress isn t the only one living outside the banking system.

Keeping money under the mattress. Whether it is metaphorical or not keeping your cash under the mattress means it is readily available at your house. As many as 28 million people in the united states are forgoing traditional financial institutions. 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. The best place to keep cash at home is a concealed fireproof and waterproof.

The widespread poverty during the 1930s meant that safes were no longer affordable for the penniless majority and as a result literally sleeping on top of your savings became one of the safest bets in lieu of something with a lock. 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. Not only is it the first place any burglar would look but your mattress won t protect your money from fire or flood. Usually a reference to stashing money under the mattress or in a shoebox is a joke.

Another 9 percent keep their cash. Your savings will lose value over time you won t earn any interest. 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. Real adults who make smart choices keep their money in the bank.

At first this seems to fly right in the face of everything i preach on this site. 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.