What to Do About Money "Stuffed Under Mattress"
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Anonymous
| I started stashing birthday and Christmas money when I was after to buy something nice and keep it separate from my checking/savings accounts so I wouldn't spend it on every day things. Then I started to do the same with my kids money. Now I have too much cash "under the mattress" that I'm now uncomfortable about it. Advice? |
Anonymous
| Put it in the bank? |
Anonymous
| I don't get it. Put it into an account. Invest it. |
Anonymous
| Coffee can, buried in the yard. |
Anonymous
| Start an emergency savings account? |
Anonymous
| Put some into the bank. A small deposit every week. Then some every week for your purchases like groceries, coffee, kids shoes. Just transition to cash based purchasing for a while. |
Anonymous
|
If you spend all the money in your checking account, you have a problem and need to address that. Separate how much is in your account from how much you can spend.
But yeah... money in the bank gets basically 0% interest, so it's no better there than under your mattress. |
Anonymous
| I put extra money like that in a capital one 360 account because I want access to it, but not easy access. |
Anonymous
Buy mountains and mountains of peanuts. |
Anonymous
|
how much are we talking about OP?
100s? 1000s? 10,000s? more than 100,000?? |
Anonymous
Money in the bank is insured, though. |
Anonymous
| Cash is sloppy. It's like stamps. One of kids got them out and used 2 books as stickers. |
Anonymous
| Buy Gold! |
Anonymous
|
Is this about the new monetary policies in India?
|
Anonymous
$12-15k |