Just_Steve
Thinks s/he gets paid by the post
Why is it not good practice?
Is cash SN used in any identity
- Thread starter street
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Why is it not good practice?
Fedup
Thinks s/he gets paid by the post
Hold lots of cash in a safe at home.
Just_Steve
Thinks s/he gets paid by the post
Whats wrong with that?
I've wondered if the BEP or Fed records the serial numbers of the old currency they shred. That would give them an idea of how many are lost or otherwise buried somewhere. I've read that 5% of paper saving bonds never get redeemed. Might be a similar % for currency.
Fedup
Thinks s/he gets paid by the post
Invite robberies. I know it's around here, if you drive a nice car sometimes they follow you home to rob.
Just_Steve
Thinks s/he gets paid by the post
I guess if you tell people whats in your home you could be a target.
I believe in being prepared for different life scenarios.
Fedup
Thinks s/he gets paid by the post
I don't believe you wrote that. Really who would you tell people you have a lot of cash so they can rob you.
My sister's house is like a homeless place, yet she was robbed. They brought in a metal detector and turned her place upside down and they found the jewelry my mom left her. You don't know who is going to rob you. They don't tell you in advance either. And she told nobody about the jewelry.
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Just_Steve
Thinks s/he gets paid by the post
We both are in disbelief then because I don't believe robbers show up with metal detectors unless they know something.
In my best millennial imitation.......Whatever.
NW-Bound
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In many 3rd-world countries, people hoard US dollars as well as gold, because they do not trust their local currencies. So, some of the money they hold can be very old.
Sunset
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I know of a case, where the old couple kept all their savings in a safe in their home as they didn't trust the banks. Crooks found out, and beat them until they opened the safe.
Who said torture does not work ??
Fedup
Thinks s/he gets paid by the post
They would be lucky to come out alive, they kill people some time. I really don't know how they know you have safe, but some how you hear all this in the news.
mh
Thinks s/he gets paid by the post
I was in Home Depot recently and the cashier almost didn't take some guys older bills because they did not have the newer anti counterfeit features in them. Given that ! I don't think it's a great idea to keep old money around.
Sunset
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I do think it is good to keep some cash in the house, if there was ever a power failure lasting a couple of days, you could use the cash to buy food/etc. Credit cards would not work as nobody has the old mechanical slide things anymore.
Also helps when you need to have some cash and don't want to run to the bank first, like for a garage sale.
I like to keep about $200 besides the little bit I have in my wallet.
Also if crooks burst into your home, you have some cash to satisfy the thieves, who otherwise may keep beating you since they would not believe there is no cash hidden in the house.
Also helps when you need to have some cash and don't want to run to the bank first, like for a garage sale.
I like to keep about $200 besides the little bit I have in my wallet.
Also if crooks burst into your home, you have some cash to satisfy the thieves, who otherwise may keep beating you since they would not believe there is no cash hidden in the house.
Bryan Barnfellow
Thinks s/he gets paid by the post
OP
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street
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I use cash to pay for a lot of things. Cash is one way to be a saver in life. It is harder for me to buy with cash verses a card. Cash in IMO can be one way young people could become wealthy because you only can spend what you have. It will make you money wise and will teach you how to stretch that dollar.
Just_Steve
Thinks s/he gets paid by the post
In no way am I suggesting keeping your life savings in the home but I see no reason to not be prepared for a month or two of no banking access.
Color me a little paranoid.
I can understand maybe keeping a couple hundred dollars in cash at home, in case of a widespread blackout, but even then, what store will you buy from? With no power, what stores would be open? Certainly not the grocery store, how could they sell meat if they can't guarantee it's been held at a safe temperature? How would people find their way around the darkness of the store? How would the inventory control (i.e., shoplifting) devices at the door ensure people aren't filling their pockets and walking out? And even though YOU were prepared with a backup stash of cash, how would they sell anything to the other 95% of their customers, who can brandish nothing more than a debit/credit card?
As an aside, this discussion reminded me of the excellent movie, "A Simple Plan," in which Bill Paxton (RIP), his brother Billy Bob Thornton, and their buddy, stumble across a crashed plane in the woods, containing a duffel bag with $5 million in cash inside.
(Spoiler alert)
After much death and intrigue, Bill Paxton ends up with the cash, but is torn because his brother's dead, his buddy's are dead, but on the bright side, no one knows he has the cash, and it was a ransom drop gone wrong. But in talking with the local sheriff, he learns that the FBI managed to write down about 1/3 of all the serial numbers, so if whoever has the cash ever tries to spend it, they'll be caught, forcing Bill Paxton to burn the whole stash.
As an aside, this discussion reminded me of the excellent movie, "A Simple Plan," in which Bill Paxton (RIP), his brother Billy Bob Thornton, and their buddy, stumble across a crashed plane in the woods, containing a duffel bag with $5 million in cash inside.
(Spoiler alert)
After much death and intrigue, Bill Paxton ends up with the cash, but is torn because his brother's dead, his buddy's are dead, but on the bright side, no one knows he has the cash, and it was a ransom drop gone wrong. But in talking with the local sheriff, he learns that the FBI managed to write down about 1/3 of all the serial numbers, so if whoever has the cash ever tries to spend it, they'll be caught, forcing Bill Paxton to burn the whole stash.
Fedup
Thinks s/he gets paid by the post
Storing canned food makes more sense.
misanman
Thinks s/he gets paid by the post
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There has been a recent rash of home invasions nearby where they seem to be targeting a particular ethnicity of homeowner who are known to own small businesses. Apparently the victims typically have large amounts of cash in their homes and that's what the crooks are counting on.
MRG
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