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My dad kept $2,400 in a coffee can under the sink for 30 years and I never got why
My dad passed a few years back and when we cleaned out his house in Akron I found a Maxwell House can under the kitchen sink with $2,400 in it, all twenties, rubber banded in little stacks. My aunt said he started it in the early 90s after a bank in town failed and folks couldn't get their money out for weeks. I used to think it was just a weird old man thing. Then my own bank app glitched for 4 days in March and I couldn't pull cash or pay my electric bill, and I sat there thinking about that can. The money he saved was worth less every year, sure, but it was his. Nobody could freeze it, nobody could flag it, nobody could make him call a number and wait on hold to ask for his own cash. My cousin keeps his savings in a credit union and his checking in a big national bank just so one failure doesn't take both. Do any of you split your money up like that on purpose, or does it just feel like paranoia?
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oscarhart13h ago
Did your dad ever tell you where he got the rubber bands, because that detail got me for some reason, little stacks like he was doing it on a schedule. Anyway, yes, split it up and it is not paranoia. I keep maybe two months of bills in cash in a safe at home, checking at a credit union, savings at a totally different bank, and a little bit of actual physical silver in a lockbox, mostly because I lived through a bank freeze in 2008 where my debit card just stopped working for a week. The cash at home is the part that matters most, since when the app breaks or the system goes down, that is the only money that moves the same day. Just don't do what my uncle did and hide it somewhere you'll forget, because we found $600 in a sock drawer three years after he died and almost threw the socks out.
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