- BREAKING: APC floors PDP in Bayelsa guber poll, obtains over 200,000 votes
- BREAKING: Kidnapped Enugu Catholic Priest regains freedom
- BREAKING: INEC official abducted in Lokoja
- BREAKING: Sanwo-Olu begins payment of N35, 000 Minimum wage to Lagos workers
- BREAKING: Buhari on his way back to Nigeria
- BREAKING: Yola Varsity Chaplain, Prof Felix Ilesani, kidnapped
- BREAKING: Former Minister of Information, Alex Akinyele is dead
- BREAKING: Kidnapped Appeal Court judge, Justice Chioma Nwosu-Iheme regains her freedom
- BREAKING: Nigerian Air Force helicopter crash lands in Enugu
- BREAKING: Court dismisses Busola Dakolo’s case against Fatoyinbo
3 reasons why hiding cash at home is a terrible mistake
The cash you stash under your mattress would be better off in a bank. See three reasons you shouldn’t hide cash at home.
So many people actually think it is a good idea to hoard or hide some cash in their home in order to have easy access to it whenever they need it.
Well, having some money in your home isn’t totally a bad idea because we all keep some money on hand to address some financial needs.
However, having too much of it could backfire if you think stashing it under your mattress or in your safe is better than keeping it in the bank.
Many things could happen to the money you keep at home. Here are three reasons you should not stash too much cash at home.
1. Stashing cash at home gives you no interest
The first reason why hiding cash at home isn’t a great idea is that it won’t yield any interest.
Granted, the interest you get from your bank might not be a big deal, but trust me, every kobo counts. Why keep it at home when you can make some interests by saving it in a bank?