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How To Trick People Into Saving

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fuzzle
Regular Contributor

Re: How To Trick People Into Saving

A "trick" all right, when government policy for many years and for the foreseeable future is to counterfeit money to destroy the value of savings. 

Message 11 of 16
Revelate
Moderator Emeritus

Re: How To Trick People Into Saving

And yet inflation numbers are still well below targets.



        
Message 12 of 16
Anonymous
Not applicable

Re: How To Trick People Into Saving


@gdale6 wrote:

@Revelate wrote:

@gdale6 wrote:
Interesting. I would never do such, having all your money tied up electronically is not a good idea.

Are you really stuffing money into a mattress or coffee can? Smiley Happy


Yep but not all of it.


In reading around today it seems many folks keep little or any cash with them. While I strive to live in the electronic world I find it comforting to stash cash for the unknowns and when there may be a "life happens" such as a tornado, blizzard and such. Putting money in a coffee can or mattress is a good safe guard (no smoking in bed) for when you might have one of those days (I actually stash the cash). Sorry Early Warning Systems ... you don't know it all Smiley Happy And to the Revenuers reading this Forum ... good luck!

Message 13 of 16
Anonymous
Not applicable

Re: How To Trick People Into Saving

Several years ago there was an issue with the POS system being down at a Gas Station out of town, meaning no Debit/CC payments. That promted me to start carrying cash again. I simply got lulled into the fact that we didn't really need physical Money anymore. After all if it's lost or stolen, then it's gone forever. CC/Debit cards can be replaced with no Financial loss to me. 

 

As for stashing cash/gold etc. I've done it for a long time due to the stories my Grandfather told me about the great Depression and to never trust Banks with 100% of your Money. 

 

 

Message 14 of 16
Revelate
Moderator Emeritus

Re: How To Trick People Into Saving


@Anonymous wrote:

@gdale6 wrote:

@Revelate wrote:

@gdale6 wrote:
Interesting. I would never do such, having all your money tied up electronically is not a good idea.

Are you really stuffing money into a mattress or coffee can? Smiley Happy


Yep but not all of it.


In reading around today it seems many folks keep little or any cash with them. While I strive to live in the electronic world I find it comforting to stash cash for the unknowns and when there may be a "life happens" such as a tornado, blizzard and such. Putting money in a coffee can or mattress is a good safe guard (no smoking in bed) for when you might have one of those days (I actually stash the cash). Sorry Early Warning Systems ... you don't know it all Smiley Happy And to the Revenuers reading this Forum ... good luck!


You're assuming that after a major disaster that cash is going to be accessible?

 

Fire = poof, which one is most likely?  I'd never ever keep more than pocket cash around my condo, Earthquake, Fire, Flood are probably my three major disaster risks, and probably not going to be able to access that.  

 

I don't really think people who stuff money in mattresses are thinking it through frankly.

 

Maybe putting a stash in an emergency kit that one can easily grab, but significant portion of assets?  No thanks, absolutely electronic access for me.

 




        
Message 15 of 16
Anonymous
Not applicable

Re: How To Trick People Into Saving


@Revelate wrote:

@Anonymous wrote:

@gdale6 wrote:

@Revelate wrote:

@gdale6 wrote:
Interesting. I would never do such, having all your money tied up electronically is not a good idea.

Are you really stuffing money into a mattress or coffee can? Smiley Happy


Yep but not all of it.


In reading around today it seems many folks keep little or any cash with them. While I strive to live in the electronic world I find it comforting to stash cash for the unknowns and when there may be a "life happens" such as a tornado, blizzard and such. Putting money in a coffee can or mattress is a good safe guard (no smoking in bed) for when you might have one of those days (I actually stash the cash). Sorry Early Warning Systems ... you don't know it all Smiley Happy And to the Revenuers reading this Forum ... good luck!


You're assuming that after a major disaster that cash is going to be accessible?

 

Fire = poof, which one is most likely?  I'd never ever keep more than pocket cash around my condo, Earthquake, Fire, Flood are probably my three major disaster risks, and probably not going to be able to access that.  

 

I don't really think people who stuff money in mattresses are thinking it through frankly.

 

Maybe putting a stash in an emergency kit that one can easily grab, but significant portion of assets?  No thanks, absolutely electronic access for me.

 


This is what I have done and in case of "life happens" situations I can get cash quickly. Not a significant portion of assets! There is a motto floating around that says "always be prepared" and that is good advice. When violent storms and say Tornados or Hurricanes hit, electronics may be affected so it is helpful when trying to acquire food and gas. Funny how good old fashion cash still works!

 

For what it is worth, many of us on this board have seen much weather of late and as part of our prior emergency planning is having a few essentials ready to utilize on the run and from where I sit, cash is one item! It only takes a good violent storm or two to realize our world has weak points no matter how well we plan.

Message 16 of 16
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