After recalling family folklore about hiding money at home, my research then found that 15% of people partake in this behavior; should I do the same?
My family’s legend states that post the great depression my grandpa used to keep a tin full of cash in the basement. While others still ponder what happened to that masked money that the bank wasn’t merit worthy enough to keep for him, my mother discovered the truth (and kept it to herself) when she once spied on him taking it out to bail my uncle out of jail. Ah, the irony..
Anyhow … In a book written in 2001 called “Are You Normal About Money?
”, it claims that 15% of Americans still
keep a serious stash of cash around the house — about half of these hide it, while the other half keeps it someplace obvious. Given that the banking system has rebounded and the popularity of hiding money “under the mattress” has waned, what are these 15% of people up to?
It seems that the #1 reason to be hiding money at home would be to fund unplanned natural or other disaster relief efforts such as emergency aid, evacuation energies, medical assistance, property repairs, etc. For those that keep a close eye on Greece’s continual banking crisis, I suppose there is also a persistent belief that the market could crash and make banks irrelevant.
All said and done, to me the thought of keeping a grand or two easily accessible isn’t an entirely awful idea as a back-up security net. If worse came to worse, I’d rather some cash than no cash at all to post-pone my participation in the inevitable trade and barter system that would likely rebirth. What about you – do you keep stashed cash and would you tell anyone its hiding spot?