Message Font: Serif | Sans-Serif
No. of Recommendations: 3
Can you please find me just ONE example of a savings account where putting your money in a safe for a year would be a better option?

What is "better" depends on what qualities/properties you prioritize, doesn't it?

If you value earned interest above all else, then of course savings accounts are generally better than a safe at home.

But what if you value immediate liquidity instead? I have some amount that will never make it out of my safe at home into any bank account. It's the minimum amount I want to have on hand if, for example, power goes out across my town for several days, or whatever other mini catastrophe/inconvenience strikes. For that amount, I value immediate liquidity more than paltry interest returns.

Print the post  


Beware Flood-Damaged Cars
Know what you are getting, don't get stuck with a Katrina victim. Check these links before you buy.
Disclaimer - Please Read
A message about professional advice.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.