money under the mattress?

No, because the FDIC has raise the money protection to 250,000. If ou have more than this then your lucky and just spread it around in different banks. That way all your is money protected.

Don't keep it under the mattress. Any robber that get into your house, that will be the first place they look.

Depends on how much money you have in the bank. Yes the FDIC is currently at a $250,000 Max, but don't let that give you a false sense of security. As this is just a short term fix and they will again be lowering the limit back down to $100,000. True the interest rates on savings sucks at the moment. And I would not want to tie up my money in any CD savings at this time, as I would want to have immediate acces to my money and not have to pay any early withdrawal fees.

Keeping money at home is risky, what if there is a fire, and it all goes up in flames. What if a robber gets in and finds your life savings.

If you have a safe in your home, it must be both fire proof and burglar proof, to have any security.

There is no need to panic. Consider the $700 billion has the lubricant needed to allow the credit market to function. $700 Billion sounds like alot money but it just represents 3.4% of total GDP. We are a $14 trillion economy. However, this is a temporary solution to a long term structural problem. In the next year or so we will see a global economic slowdown which is underway already along with unemployment at 7%, the highest in more than twenty years and consumers feeling the pinch.

You wont be making a lot on any investments right now. If you've got guts I'd buy some stocks while they're low and cash in when the market goes back up. A lot of people must be stashing cash though because the sales of home safes has gone up quite a bit. My philosophy is to do a bit of everything - stocks, bonds, CDs and cash.

I was reading the answers your getting and spreading money around to different banks. First check the banks rating, then deposit no more that the insured amount of 250,000. Be sure it is totally different companies. There are many banks who are associated with others. Then watch, I was with one bank and another bought it out, I disliked their policies and moved my account to another bank. Last year they got bought by the same one I left. You can also check into credit unions, some of them have fairly good ratings.

I agree,it's time to pull all of your money out of the bank. Maybe you could think of a creative way to stash it. Try an old encyclopedia, no one would ever look in there, not in this computer age. Just carve out the pages and lay your cold hard cash in it. Pray that you don't have a house fire

I reckon you are quite right there. Only I have an indoor safe instead of the mattress!! Just because my partner and I worked hard and have a small private pension each we have to pay very nearly full council tax. Where is the justice in that?

Hello, And join the ranks of dishonest people taking away from the less well off. It will not be some low down crook that nicks your cash but the welfare officials making you pay back the money taken under false pretences.

I have a fixed income, it's only in the bank long enough for the deposit. I have learned that keeping large amounts of cash around can be hazardous. I was in a situation once where I taped all my cash to my belly with duct tape back in the early 90s when I was leaving my ex. Does that count?

I know people that only put enough money in there accounts to keep it open and pay bills and hide there cash (but not much cos the haven't got much to hide) in places in there house's. i recommand you personally not hideing your cash under the mattress as you have just told everyone on yahoo answers were it is so it wont really be hidden, fine somwhere else and dont tell us!! haha.

if your in the uk premium bonds are good, and to my knowledge dont effect benifits, but there is a limit to how much you can put in premium bonds but its a far amount (in the thousands) of cash you put in it.