With the economy the way it is, are you going to start keeping your money in your mattress instead of the bank or wall street?
2007-11-01 16:09:50 · 26 answers · asked by Black Snow Hates Yahoo 4 in Entertainment & Music ➔ Polls & Surveys
OK money in a mattress is an old saying popular around the great depression.
2007-11-01 16:15:53 · update #1
Buy gold.
2007-11-01 16:12:25 · answer #1 · answered by poolplayer 6 · 2⤊ 2⤋
As long as you're not talking about an amount above $100,000, your money is guaranteed by any bank that is a member of FDIC. It's guaranteed to be safe.
Now Wall Street, on the other hand, depends on how much risk tolerance you have - I personally am not cut out for speculation - I like to not lose money, even I don't see huge returns.
2007-11-01 23:16:37 · answer #2 · answered by Devo 4 · 3⤊ 0⤋
A bank is safer than a mattress. Money in the bank is insured. A mattress can burn up in a fire and you can't recover burned cash when you file an insurance claim unless you can prove you actually HAD it.
2007-11-01 23:12:56 · answer #3 · answered by Resident Heretic 7 · 2⤊ 1⤋
No. It's better to shop around for the best rates online and change banks when necessary. I'm getting 5.65% on a 4 month CD right now @ Indymac. It's not great, but is almost identical to my mortgage interest, so I'm satisfied.
2007-11-01 23:18:45 · answer #4 · answered by luv2bfit 5 · 2⤊ 0⤋
Yes, mattress is good idea but it is dangerous. How about buy something like gold, property or spend for fun.
2007-11-01 23:20:52 · answer #5 · answered by Freesia 5 · 2⤊ 0⤋
Me, I'm a poor boy, so never had any in Wall Street. So e i the bank...Mattress is not such a good spot, cookie jar was broken...
2007-11-01 23:12:54 · answer #6 · answered by Nothingusefullearnedinschool 7 · 2⤊ 1⤋
nope I trust my bank. Incase of a fire why would i put it in the mattress I would at least buy a fireproof safe.
2007-11-01 23:13:41 · answer #7 · answered by Anonymous · 3⤊ 0⤋
Mad money is always important...but not in or under the mattress
2007-11-01 23:13:01 · answer #8 · answered by JOHN 7 · 2⤊ 0⤋
That's basically what I do now. Not literally in the mattress, of course.
2007-11-01 23:13:16 · answer #9 · answered by Mercury 5 · 1⤊ 2⤋
not unless the mattress pays interest.
2007-11-01 23:12:35 · answer #10 · answered by canam 7 · 3⤊ 1⤋
I have a waterbed. Everytime I gotta buy groceries, I flood the downstairs neighbors' apartment.
I'm getting evicted soon.
2007-11-01 23:13:50 · answer #11 · answered by Anonymous · 2⤊ 2⤋