Do you put money in a safe box?

[Henrywrites]

During those early days of my life, my parents taught me the need to keep saving money.

One of the ways that they suggested was always putting money in a safe box. Those days, it was really good doing that as I was able to save money during some days. Nowadays, it is different with banks offering different saving options.

Do you think using a physical safe box to save money is still a good idea these days?

 

[cpvr]

I used to have a safe where I kept my jewelry and some emergency money in when I was younger, but now I keep money locked in a cd in my bank instead that collects interests over time.

I’ve had a cd with my bank for a few years now.

Saving things in a safe is a good idea if you’d like to keep everything accessible without having to go the bank and would like to have direct access to your money no matter what.

 

[Demon_skeith]

I don't think many banks do a safe box anymore, I just put it into my savings and let some interest grow it.

 

[The Raven]

Not really. I keep my money on the card and in the wallet. I am not that rich to have a safe box in the bank. I don't own any gold bars, diamonds or crystals. 😀
Safe box is like a piggy bank, but for grown up people. xD

 

[uptrendfinancialsignal]

Using Safe box is quite good because it's a good idea for emergency funds and good when you want to keep important documents. It gives easy access and also provide a sense of security.

 

[Shortie]

I have never felt safe keeping my money out of my bank account. I know that some people who have safes in their home where they keep money, but I wouldn't feel safe using something like that,t even if it was quite safe.

I much prefer to keep my money in my bank account.

 

[Claraviolet]

May be it is... Or may be I am just being delusional. I was scammed of 6k pounds and at that time...I thought... If I had a savings cushion...
So, my world view changed after that. However, it's not easy to store physical money... Like a huge amount... To keep it safe ;_;

 

[Ja sa bong]

No, I don't put my money in a safe box at home or at the bank. I haven't asked if my bank offer safe box services, I wouldn't know.

 

[Henrywrites]

I used to have a safe where I kept my jewelry and some emergency money in when I was younger, but now I keep money locked in a cd in my bank instead that collects interests over time.

I’ve had a cd with my bank for a few years now.

Saving things in a safe is a good idea if you’d like to keep everything accessible without having to go the bank and would like to have direct access to your money no matter what.

Yeah, the advantage of keeping the safe box at home is that it will save you the stress of having to visit the bank whenever you want to get an item or cash from the safe box.

However, I believe that your decision to start using the Cd at the bank is a beautiful idea that you went with.

 

[Demon_skeith]

Yeah, the advantage of keeping the safe box at home is that it will save you the stress of having to visit the bank whenever you want to get an item or cash from the safe box.

However, I believe that your decision to start using the Cd at the bank is a beautiful idea that you went with.

I looked into it, CDs aren't as high interest as they used to be.

 

[Ja sa bong]

I have never felt safe keeping my money out of my bank account. I know that some people who have safes in their home where they keep money, but I wouldn't feel safe using something like that,t even if it was quite safe.

I much prefer to keep my money in my bank account.

The thought of thinking someone might come rob me because I kept a huge amount of money at home will make it too stressful.

 

[Heatman]

I used to have a small box safe I put money in as a kid but after a while, I broke it open and used all the money. Since then, I never saved any money in a safe box.

 

[Alicia]

I used safe box while I was growing and it was all of my mum's idea. We used it to save as much money especially those gifts from elderly uncles and aunts that arrived for festive seasons.

 

[Heatman]

I used safe box while I was growing and it was all of my mum's idea. We used it to save as much money especially those gifts from elderly uncles and aunts that arrived for festive seasons.

My sister is still using her safe box to save money today. She's married but not working yet. Any pocket money and some that's left over from her food stuffs shopping goes into the safe.

 

[Alicia]

My sister is still using her safe box to save money today. She's married but not working yet. Any pocket money and some that's left over from her food stuffs shopping goes into the safe.

Your sister is very smart, she's not like those ones that will start enjoying every penny that entered their hands. It's a good thing for her because the money will save her during the rainy days. Bank is there for me to put any money I have, no more safe box.

 

[Zani]

Normally, we don't save our money by ourselves because my parents are the one keeping every penny we had for us. But they told us that we will have the money to ourselves when we grow up. As I am grown, my money is now in the bank, I think it's more safer there.

 

[cpvr]

Yeah, the advantage of keeping the safe box at home is that it will save you the stress of having to visit the bank whenever you want to get an item or cash from the safe box.

However, I believe that your decision to start using the Cd at the bank is a beautiful idea that you went with.

Some banks offer a 6 month-9 months or a yearly rate. Depending on the yearly rate, you're able to collect a decent amount of interest on it. I'd say it's better than having money sitting around and not gaining any interest. I think the current going rate is 4.45% APR. Which amounts to about $22 a year in interest. A brokered cd via a brokerage tend to have better interest rates though. Treasury bills via or bonds via Treasuredirect.gov can also beat cd rates and have better rates, but generally, you're locked in for a longer term than regular CDs.

Most banks don't have the same interest rates on CDs though as they're all competing for customers. I've had mine for about 4 years now. A high yield savings account is worth it as well compared to having a CD depending on the bank.

 

[Henrywrites]

I have never felt safe keeping my money out of my bank account. I know that some people who have safes in their home where they keep money, but I wouldn't feel safe using something like that,t even if it was quite safe.

I much prefer to keep my money in my bank account.

I have heard some sad stories concerning saving money in a safe box at home. So, your decision to fully keep money in your bank accounts is totally understandable.

 

[Baw$e]

I don't have a safe box, but if I did own one. I would store my money, and other valuables in it.

 

[Heatman]

Your sister is very smart, she's not like those ones that will start enjoying every penny that entered their hands. It's a good thing for her because the money will save her during the rainy days. Bank is there for me to put any money I have, no more safe box.

Yeah, last December when he opened her safe box, she had over 300k saved in it. The money went a long way in buying Christmas stuffs for her.

 

[Alicia]

Yeah, last December when he opened her safe box, she had over 300k saved in it. The money went a long way in buying Christmas stuffs for her.

Wow. 300k is very massive and I love the way she don't needs to ask for money for Christmas stuffs. Everything she needed can be provided with that money.

 

[uptrendfinancialsignal]

Yeah, last December when he opened her safe box, she had over 300k saved in it. The money went a long way in buying Christmas stuffs for her.

One major reason why a safe box is very useful is having a stash of cash which could be very helpful in an unexpected moment or when there are unexpected expenses or even when you have a special occasion.

 

[Heatman]

Wow. 300k is very massive and I love the way she don't needs to ask for money for Christmas stuffs. Everything she needed can be provided with that money.

Are you kidding me 😂? She still asked for more money for other Christmas shopping. Women and money are 5&6.

 

[Heatman]

One major reason why a safe box is very useful is having a stash of cash which could be very helpful in an unexpected moment or when there are unexpected expenses or even when you have a special occasion.

Honestly, I don't need a safe box to be able to have a stash of money available for an unexpected expenses. I have a slush fund account that serves the same purpose as a physical safe box.

 

[Kross]

I wasn't born in the era of safe boxes. By the time I was conscious, bank accounts were handy and easily accessible to everyone. I haven't had a safe box all my life. Even as a child, I had always deposited money in a kids account my parents created for me when I have to save.

 

[Heatman]

I wasn't born in the era of safe boxes. By the time I was conscious, bank accounts were handy and easily accessible to everyone. I haven't had a safe box all my life. Even as a child, I had always deposited money in a kids account my parents created for me when I have to save.

Parents who teach their kids how to cultivate the habit of saving at a very young age are the best. It helps a kid to know the importance of money at a very young age.

 

[Alicia]

Are you kidding me 😂? She still asked for more money for other Christmas shopping. Women and money are 5&6.

YOu can never swear that you and money ain't 5&6, all of us are like that. She will ask but being satisfactory of what you have for yourself can go a long way.

 

[lens]

Honestly, I don't need a safe box to be able to have a stash of money available for an unexpected expenses. I have a slush fund account that serves the same purpose as a physical safe box.

I think there are strong reasons for choosing either option. A safe box holds your cash and valuable papers securely, while an account gives you extra available cash and may earn you interest. The choice is personal and relies on what is most important financially to you.

 

[uptrendfinancialsignal]

I think there are strong reasons for choosing either option. A safe box holds your cash and valuable papers securely, while an account gives you extra available cash and may earn you interest. The choice is personal and relies on what is most important financially to you.

I used a safe box while I was younger but I don't use it anymore. To be honest with you, it's the best way to save money as it can help you accumulate a huge sum of money over a period of time by surprise.

 

[cpvr]

I used a safe box while I was younger but I don't use it anymore. To be honest with you, it's the best way to save money as it can help you accumulate a huge sum of money over a period of time by surprise.

I tend to use a "Coin jar" these days and I leave it in my closet. Sometimes, I end up racking up $20-$50 in there, but I save it for a rainy day. I should really leave it alone and let it stack up, lmao.