6 Reasons to Keep Your Money in the Bank

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This is a crap article. Any smart, self-respecting human being who doesn't like banks could easily buy a decent safe to put their money in. As long as they remember the combination (which they would because they would be using it all the time), there are no problems. It doesn't have to be in plain view either, you could hide it. And lets face it, only the dumbest idiot could lose a safe.

Mathew 7:51AM March 13, 2013

pie

bob of CA 1:50PM February 19, 2013

A nation of sheep, yea they say put your money in the bank. How stupid to do so. Dog might eat it? Somebody may buy you a new mattress? Forget where you hid it? I mean really??? This is all they can come up with?
This article should tell you alone not to put your money in the bank.
It's all so they can watch you and take their share when they need it. Say when you die they can tax you on it, or if you short sale your house they can take what they need. Or say if you get hurt in an accident and you are hospitalized and your insurance won't cover it all, they can take what you have in the bank. Even though if you are an illegal alien they get free hospitalization with no insurance. The good people have to pay.
The list goes on and on.
BTW, same goes for home ownership. Collateral against any of the above.
Don't get me started. Think about it people. Don't be a sheep.
To actually think after all what happened, people still trust the government and banks. WOW.

Smart Investor of AZ 9:36AM June 03, 2012

Much more sensible to keep your money at home. You have absolute control of it. If you already have hundreds of thousands forget about bank's interest. Get your money and property out of the control of banks and the State. Neither of them have any right to poke their noses in or dip their greedy little fingers into your affairs. It is your money, your property and you have probably worked very hard for it. Having a mortgage means that you will already have paid for the dwelling three times over in twenty five years. You have already paid thousands of pounds in taxes without your consent. That is theft. A home is a necessity for every human being and that is why that need is exploited. No part of your property should be held as colattoral for the State at any time ever. Neither the banks nor the State should have any information about what you own. Bad enough that they should be aware of your bricks and mortar for future theft. It is better if you guys keep any additional monies well away from any prying eyes. If you have more than you need - give it away to worthwhile charities or friendsn relatives you like. Good luck. Dominic

dominic fairfax 3:08AM December 22, 2011

I agree keeping money at home makes great sense. As the writer before mentioned, Big Brother is doing everything possible to keep tabs on how much I spend and for what. The hell with them!
And if for some reason the bank closes due to a natural disaster or fails, I would be unable to get any money for who knows how long. Nooooooooooooooooooo Give me the cash

bobbyb of GA 3:13AM April 03, 2011

Wow these are the stupidest reasons I've ever seen. And to think I was actually going to learn something.

True Patriot of DC 12:36AM February 04, 2011

First of all, keeping your money in your house is one of the safest places you could have it. I have a fireproof safe bolted to my basement floor in a secret room that is impossible to find unless you know the secret way to unlock the bookcase and move it to gain access to my "vault" area. I do not advertise my wealth, I drive an average car and live in an average income house in a very nice neighborhood.
I have about $80,000 in cash that I keep in my safe at any given time.
1. When you put your money in the bank the IRS can keep tabs on you. When you have your money in cash then they have no way of knowing what you buy or who you buy it from.
2. If you keep your money in your bank and you tend to make large deposits and withdraws such as $5,000 or more then the bank will fill out a Suspicious Activity report on you and send it to the IRS. This will cause them to watch you very closely and assume you are up to no good when perhaps you just like to buy expensive things and pay with cash.
3. Putting your money into any type of Bank Savings/CD/Money Market account once again allows the IRS to see what you have and then TAX you on your earnings. If you earn even 1% interest you have to pay Income taxes on that... No Thanks, I can find other ways of using my money.
4.

Jim of SC 12:12PM December 26, 2010

The premise makes sense - keeping paper bills in the mattress is inherently risky.
But what about "in" the house, as in paying down the mortgage? That's what I'm doing this week. We just sold stock (primarily overseas investments) and put the $$ towards principal as part of a recast. Should cut my monthly payment by almost half.
With this volatile market I'd rather sleep under my money than watch its value fluctuate wildly.
Caveat: We live in N. Texas, where home values have not undergone the plunge seen elsewhere.

Dean of TX 8:50PM June 01, 2010