6 Reasons Hiding Cash Around the House is Dumb

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11 Jul

Donna Taylor Blog 0 0

Stashing cash around the house is anything but harmless. It can seem like a fun, creative way to save money – hundreds stuffed in the bottom of a cookie jar, fifties stuck between the pages of a book, even more money buried in the back yard. But it is actually an unsafe way to hold on to your money. Here are several reasons why hiding cash around the house is a bad idea:

1.You are missing out on money

2.The money is not FDIC-insured

3. You could lose the money

4. The money might not be covered by your home insurance policy

5.You are losing out to inflation

6.A loved one might get stuck searching for hidden money

About the Author

Written by Donna Taylor

Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel, United Methodist Church on the Northern Neck in Montross, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.