There have always been people who prefer to have money under the mattress. But is it a good idea? What inconveniences does this solution have? In this article we answer all your questions and tell you what are the big disadvantages of saving money at home.
Leaving money under the mattress is not a good idea
There are people who decide to leave the money hidden in their house especially for two reasons: because “they do not trust banks” or because they claim that “now banks do not give anything to have their money.”
If this is your case, telling you that leaving money under the mattress is not the solution. These are some of the main drawbacks of doing so:
With inflation, money loses value, so if you leave it in your home for years, without moving, it is likely to end up being worth much less.
Inflation occurs when there is a rise in the prices of goods and services, which causes the value of things to change. And if the inflation rate goes up, with the passage of time with that same money you can buy much less, or what is the same, that money under the mattress will have lost value.
So if you leave your money at home in a static way, without moving or without generating any profitability, over the years you will have much less. That is why we believe that it is no longer just a good idea at this point.
Another advantage of leaving the money stored under the mattress, goes through security. What happens if you get robbed and take it away? If the money is produced in a bank, the money will be fully protected, but the same does not happen if they take it from your home.
In addition, you face other possible misfortunes such as flood, fire, etc. That is, there are other factors that could make your money disappear.
Just for these 2 reasons, leaving money under the mattress is the worst possible idea. While it is true that you may think that it is better with you than with the bank, but if you analyze the problem of inflation and the lack of security involved, there is probably no better place for your money than in a bank account.
What do we mean by this inconvenience? If you keep all the money at home and you have nothing in the bank, you will have fewer options in terms of financial products.
If by any chance you need a loan or that bank finances you buy, you will have it more complicated if you can’t prove that you have savings or a payroll that shows that your house enters money every month.
What do we recommend?
One of our passions is to help people organize expenses and organize accounts. To do this, we design an app to control expenses that are great and that will allow you to have total control over your money.
With our app to save you will not need to keep the money under the mattress, because you can have it stored in your bank and with full control of it: you will know if you have passed a movement twice, if you have spent more than the account, your score regarding other people like you, etc.
What do you think about keeping money under the mattress? Do you think it’s better than in banks? Do not hesitate to give us your opinion, we are interested! Also, do you have any advice, curiosity or question that we haven’t commented on? What are you waiting for! You can help many users who read your comment on our blog?